- Net income of $2.4 million, up significantly from $0.2 million a year ago -

- Diluted earnings per share of $0.27, up significantly from $0.02 a year ago -

- Company to hold earnings call today at 5pm ET -

First Internet Bancorp (the "Company") (NASDAQ:INBK), the parent company of First Internet Bank (the "Bank"), announced today financial and operational results for the second quarter ended June 30, 2026.

Key Business Updates

Significant Improvement in Credit Quality: Provision for credit losses for the second quarter of 2026 of $13.4 million, down from $16.3 million in the first quarter of 2026. Notably, total nonaccrual loans declined for the second consecutive quarter, and are down 14% from the first quarter of 2026. Furthermore, delinquencies 30 days or more past due decreased to 0.78% of total performing loans, down from 1.06% in the first quarter of 2026, driven by a significant decline in small business lending delinquencies.
Revenue Momentum: Growth in net interest income (up 16%), fully-taxable equivalent ("FTE") net interest margin of 2.47%¹ (up 43 basis points), and strong noninterest income drove quarterly revenue up 23% year-over-year to $41.1 million. When combined with well-managed expenses, pre-provision net revenue grew 28% year-over-year to $15.0 million¹.
Solid Loan Production: Commercial loan balances continued to grow during the second quarter led by construction / investor commercial real estate and single tenant lease financing. While period end and average loan balances were impacted by early payoffs, loan pipelines at the end of the quarter were solid, setting the stage for continued loan growth in the second half of 2026. Additionally, the Company expects to increase its retention of embedded finance small business loans originated for one of its fintech partners, an asset class with very attractive risk-return characteristics.
Fee Revenue Acceleration: Noninterest income grew 56% year-over-year, supported by the continued growth in the Banking-as-a-Service ("BaaS") platform. As we have selectively increased the number of fintech partners, and have expanded relationships with existing partners, fee revenue from BaaS increased 172% from the prior year period.

Second Quarter 2026 Financial Performance

Net income of $2.4 million and diluted earnings per share of $0.27, both up significantly from the prior year period
Total revenue of $41.1 million, which increased 23% from the prior year period
Net interest income of $32.4 million and FTE net interest income of $33.6 million¹, increased 16% and 15%, respectively, over the prior year period
Net interest margin of 2.39% and FTE net interest margin of 2.47%¹, both increasing 43 basis points ("bps") from the prior year period
Noninterest income of $8.7 million, which increased 56% from the prior year period
Pre-provision net revenue ("PPNR") of $15.0 million¹, which increased 28% from the prior year period
Total loan balances of $3.8 billion, up $35.2 million, or 1%, from the first quarter of 2026
- The yield on the loan portfolio increased 27 bps from the prior year period to 6.34%
- Solid loan production partially offset by elevated payoffs and maturities
Total deposits of $4.8 billion, down $150.3 million, or 3%, from the first quarter of 2026
- Continued growth in fintech deposits, allowing higher-cost CDs and brokered deposits to mature
- The cost of interest-bearing deposits declined 54 bps from the prior year period to 3.38%
- Approximately $2.4 billion of fintech deposits moved off-balance sheet into a deposit network, providing flexibility to manage the size of the balance sheet
- Loans to deposits ratio of 79%
Provision for credit losses of $13.4 million, down $2.9 million, or 18%, from the first quarter of 2026
Net charge-offs to average loans of 1.77%, an increase from 1.65% in the first quarter of 2026
- Increase in net charge-offs reflects resolution of nonperforming franchise finance loans, partially offset by a significant decline in small business lending net charge-offs
Nonperforming loans ("NPLs") to total loans of 1.58%, compared to 1.63% in the first quarter of 2026; allowance for credit losses - loans ("ACL") to total loans of 1.39%, compared to 1.50% in the first quarter of 2026
- Decrease in NPLs due primarily to lower nonaccrual franchise finance loans, partially offset by an increase in fully-guaranteed SBA 7(a) balances
- NPLs / total loans of 1.07%¹ excluding fully-guaranteed balances, down from 1.22% in the first quarter of 2026
- ACL to NPLs of 88%; or 130%¹ excluding fully-guaranteed balances
Tangible common equity to tangible assets of 6.46%¹, and 6.98%¹ ex-AOCI and adjusted for normalized cash balances; CET1 ratio of 8.90%²; total capital ratio of 12.22%²
Tangible book value per share of $41.09¹, up from $40.87¹ in the first quarter of 2026

"Our second quarter results reflect strong momentum across the business, paired with a meaningful and encouraging improvement in our credit trends," said David Becker, Chairman and CEO of First Internet Bancorp. "Total revenue grew 23% year-over-year and pre-provision net revenue increased nearly 28%, while our fully-taxable equivalent net interest margin expanded 43 basis points to 2.47%. Just as importantly, our credit provision declined, nonperforming loans decreased sequentially for the first time in several quarters, small business lending net charge-offs improved significantly, and delinquencies across the portfolio fell sharply - clear evidence that the proactive credit actions we have taken over the past several quarters are working.

"We are equally encouraged by the acceleration of our fee-based businesses. Noninterest income grew more than 56% year-over-year, driven by the continued strength of our Banking-as-a-Service platform and the deepening of our fintech partnerships, including an expanded relationship with jaris under which we will retain all small business loans originated through its platform. We also continue to invest in AI, automation, and digital capabilities that drive efficiency and elevate the customer experience. With improving credit, growing fee income, and a more capital-efficient balance sheet, we are well-positioned to build on this momentum through the remainder of 2026 and beyond."

Full Year 2026 Outlook

Diluted earnings per share of $2.35 to $2.45
Loan growth in the range of 4% to 6%, driven by solid pipelines across our commercial lending verticals
- Outlook reflects early payoffs in commercial lending areas and lower retention of small business lending balances as secondary market premiums remain attractive
FTE net interest margin expansion, reaching 2.75% to 2.80% by the fourth quarter of 2026, driven by ongoing deposit repricing and optimized asset mix
FTE net interest income in the range of $141 million to $142 million
Noninterest income in the range of $40.5 million to $41 million, reflecting continued BaaS growth and increasing small business lending originations and gain on sale activity in the second half of 2026
Noninterest expense in the range of $106 million to $107 million
Provision for credit losses, including net charge-offs and reserves related to problem loans, of $47 million to $48 million
- Continual improvement is expected throughout the second half of 2026

¹ This information represents a non-GAAP financial measure. For a discussion of non-GAAP financial measures, see the section below entitled "Non-GAAP Financial Measures."

² Regulatory capital ratios are preliminary pending filing of the Company’s regulatory reports

Conference Call and Webcast

The Company will host a conference call and webcast at 5:00 p.m. Eastern Time today, July 30, 2026, to discuss its quarterly financial results. The call can be accessed via telephone at (833) 461-5787; meeting id: 115638970. To access the webcast and view the presentation slides, please visit www.firstinternetbancorp.com and click the link provided for Earnings Call Webcast.

The webcast and slides will be available on the Company’s website shortly after the call has ended and will be archived on the Company’s website for 12 months.

About First Internet Bancorp

First Internet Bancorp is a bank holding company with assets of $5.6 billion as of June 30, 2026. The Company’s subsidiary, First Internet Bank, opened for business in 1999 as an industry pioneer in the branchless delivery of banking services. First Internet Bank provides consumer and small business deposits, commercial real estate and construction financing, SBA financing, public finance, consumer loans, and specialty finance services nationally, as well as commercial and industrial loans and treasury management services on a regional basis. First Internet Bancorp’s common stock trades on the Nasdaq Global Select Market under the symbol "INBK" and is a component of the Russell 2000® Index. Additional information about the Company is available at www.firstinternetbancorp.com and additional information about First Internet Bank, including its products and services, is available at www.firstib.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements with respect to the financial condition, results of operations, trends in lending policies and loan programs, plans and prospective business partnerships, objectives, future performance and business of the Company. Forward-looking statements are generally identifiable by the use of words such as "anticipate," "believe," "better than," "continue," "could," "drive," "enhance," "estimate," "expand," "expect," "future," "going forward," "growth," "improve," "increase," "looking ahead," "maintain," "may," "ongoing," "opportunities," "pending," "plan," "position," "preliminary," "progress," "remain," "setting the stage," "should," "stable," "thereafter," "well-positioned," "will," or other similar expressions. Forward-looking statements are not a guarantee of future performance or results, are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the information in the forward-looking statements. Such statements are subject to certain risks and uncertainties including: our business and operations and the business and operations of our vendors and customers; general economic conditions, whether national or regional, and conditions in the lending markets in which we participate that may have an adverse effect on the demand for our loans and other products; our credit quality and related levels of nonperforming assets and loan losses, and the value and salability of the real estate that is the collateral for our loans. Other factors that may cause such differences include: failures or breaches of or interruptions in the communications and information systems on which we rely to conduct our business; failure of our plans to grow our commercial and industrial, construction, and SBA loan portfolios; competition with national, regional and community financial institutions; the loss of key members of senior management; the anticipated impacts of inflation and rising interest rates on the general economy; risks relating to the regulation of financial institutions; and other factors identified in reports we file with the U.S. Securities and Exchange Commission. All statements in this press release, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles ("GAAP"). Non-GAAP financial measures, specifically tangible common equity, tangible assets, tangible book value per common share, tangible common equity to tangible assets, average tangible common equity, return on average tangible common equity, total interest income – FTE, net interest income – FTE, net interest margin – FTE, pre-provision net revenue adjusted tangible common equity, adjusted tangible assets, adjusted tangible common equity to adjusted tangible assets, adjusted nonperforming loans to total loans and adjusted allowance for credit losses – loans to nonperforming loans are used by the Company’s management to measure the strength of its capital and analyze profitability, including its ability to generate earnings on tangible capital invested by its shareholders. Although management believes these non-GAAP measures are useful to investors by providing a greater understanding of its business, they should not be considered a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the table at the end of this release under the caption "Reconciliation of Non-GAAP Financial Measures."

First Internet Bancorp
Summary Financial Information (unaudited)
Dollar amounts in thousands, except per share data


	Three Months Ended									Six Months Ended

	June 30			March 31			June 30			June 30			June 30
		2026			2026			2025			2026			2025

Net income	$	2,367		$	2,509		$	193		$	4,876		$	1,136

Per share and share information
Earnings per share - basic	$	0.27		$	0.29		$	0.02		$	0.56		$	0.13
Earnings per share - diluted		0.27			0.29			0.02			0.55			0.13
Dividends declared per share		0.06			0.06			0.06			0.12			0.12
Book value per common share		41.63			41.41			44.79			41.63			44.79
Tangible book value per common share ¹		41.09			40.87			44.25			41.09			44.25
Common shares outstanding		8,733,574			8,716,662			8,713,094			8,733,574			8,713,094
Average common shares outstanding:
Basic		8,754,008			8,734,383			8,733,559			8,744,250			8,724,657
Diluted		8,822,099			8,774,111			8,760,374			8,797,389			8,784,005
Performance ratios
Return on average assets		0.17	%		0.18	%		0.01	%		0.17	%		0.04	%
Return on average shareholders' equity		2.56	%		2.72	%		0.20	%		2.64	%		0.58	%
Return on average tangible common equity ¹		2.60	%		2.75	%		0.20	%		2.68	%		0.59	%
Net interest margin		2.39	%		2.36	%		1.96	%		2.38	%		1.89	%
Net interest margin - FTE ^1,2		2.47	%		2.45	%		2.04	%		2.46	%		1.97	%
Capital ratios ³
Total shareholders' equity to assets		6.54	%		6.32	%		6.43	%		6.54	%		6.43	%
Tangible common equity to tangible assets ¹		6.46	%		6.24	%		6.35	%		6.46	%		6.35	%
Tier 1 leverage ratio		6.23	%		6.23	%		6.69	%		6.23	%		6.69	%
Common equity tier 1 capital ratio		8.90	%		8.97	%		8.90	%		8.90	%		8.90	%
Tier 1 capital ratio		8.90	%		8.97	%		8.90	%		8.90	%		8.90	%
Total risk-based capital ratio		12.22	%		12.50	%		12.16	%		12.22	%		12.16	%
Asset quality
Nonperforming loans	$	60,073		$	61,596		$	43,541		$	60,073		$	43,541
Nonperforming assets		64,573			63,691			45,539			64,573			45,539
Nonperforming loans to loans		1.58	%		1.63	%		1.00	%		1.58	%		1.00	%
Nonperforming assets to total assets		1.16	%		1.12	%		0.75	%		1.16	%		0.75	%
Allowance for credit losses - loans to:
Loans		1.39	%		1.50	%		1.07	%		1.39	%		1.07	%
Nonperforming loans		88.4	%		91.7	%		106.8	%		88.4	%		106.8	%
Net charge-offs to average loans		1.77	%		1.65	%		1.31	%		1.71	%		1.12	%
Average balance sheet information
Loans	$	3,836,149		$	3,874,174		$	4,397,887		$	3,855,056		$	4,318,037
Total securities		1,048,742			1,022,872			934,994			1,035,879			918,547
Other earning assets		561,255			521,697			396,829			541,585			420,921
Total interest-earning assets		5,448,429			5,424,700			5,739,019			5,436,630			5,664,986
Total assets		5,656,350			5,635,646			5,924,144			5,646,054			5,847,687
Noninterest-bearing deposits		134,166			143,305			153,016			138,710			144,494
Interest-bearing deposits		4,783,803			4,744,189			4,792,939			4,764,105			4,804,396
Total deposits		4,917,969			4,887,494			4,945,955			4,902,815			4,948,890
Shareholders' equity		370,247			374,276			391,870			372,250			391,952

¹ Refer to "Non-GAAP Financial Measures" section above and "Reconciliation of Non-GAAP Financial Measures" below
² On a fully-taxable equivalent ("FTE") basis assuming a 21% tax rate
³ Regulatory capital ratios are preliminary pending filing of the Company's regulatory reports

First Internet Bancorp
Condensed Consolidated Balance Sheets (unaudited)
Dollar amounts in thousands


	June 30			March 31			June 30
		2026			2026			2025

Assets
Cash and due from banks	$	8,692		$	10,528		$	9,261
Interest-bearing deposits		402,276			591,277			437,100
Securities available-for-sale, at fair value		786,676			772,035			644,657
Securities held-to-maturity, at amortized cost, net of allowance for credit losses		264,662			276,042			271,737
Loans held-for-sale		44,816			55,240			126,533
Loans		3,811,073			3,775,870			4,362,562
Allowance for credit losses - loans		(53,096	)		(56,496	)		(46,517	)
Net loans		3,757,977			3,719,374			4,316,045
Accrued interest receivable		29,136			28,182			31,227
Federal Home Loan Bank of Indianapolis stock		28,350			28,350			28,350
Cash surrender value of bank-owned life insurance		43,175			42,864			41,961
Premises and equipment, net		65,720			67,006			69,930
Goodwill		4,687			4,687			4,687
Servicing asset		23,180			23,614			16,736
Other real estate owned		4,121			1,945			1,730
Accrued income and other assets		92,907			90,544			72,619
Total assets	$	5,556,375		$	5,711,688		$	6,072,573

Liabilities
Noninterest-bearing deposits	$	131,366		$	149,505		$	145,166
Interest-bearing deposits		4,700,012			4,832,145			5,153,623
Total deposits		4,831,378			4,981,650			5,298,789
Advances from Federal Home Loan Bank		239,500			239,500			264,500
Subordinated debt		105,626			105,546			105,307
Accrued interest payable		1,594			1,232			1,614
Accrued expenses and other liabilities		14,730			22,806			12,124
Total liabilities		5,192,828			5,350,734			5,682,334
Shareholders' equity
Voting common stock		187,545			186,967			186,116
Retained earnings		197,119			195,292			230,690
Accumulated other comprehensive loss		(21,117	)		(21,305	)		(26,567	)
Total shareholders' equity		363,547			360,954			390,239
Total liabilities and shareholders' equity	$	5,556,375		$	5,711,688		$	6,072,573

First Internet Bancorp
Condensed Consolidated Statements of Income (unaudited)
Dollar amounts in thousands, except per share data


	Three Months Ended									Six Months Ended

	June 30			March 31			June 30			June 30			June 30
		2026			2026			2025			2026			2025

Interest income
Loans	$	60,693		$	60,839		$	66,685		$	121,532		$	129,347
Securities - taxable		9,948			9,496			9,062			19,444			17,525
Securities - non-taxable		629			654			654			1,283			1,315
Other earning assets		5,366			4,821			4,485			10,187			9,528
Total interest income		76,636			75,810			80,886			152,446			157,715
Interest expense
Deposits		40,320			40,359			46,794			80,679			94,420
Other borrowed funds		3,877			3,853			6,102			7,730			10,209
Total interest expense		44,197			44,212			52,896			88,409			104,629
Net interest income		32,439			31,598			27,990			64,037			53,086
Provision for credit losses		13,415			16,305			13,608			29,720			25,541
Net interest income after provision
for credit losses		19,024			15,293			14,382			34,317			27,545
Noninterest income
Service charges and fees		1,112			844			278			1,956			543
Loan servicing revenue		2,853			2,856			1,979			5,709			3,962
Loan servicing asset revaluation		(1,579	)		(1,060	)		(1,153	)		(2,639	)		(2,334	)
Gain on sale of loans		4,690			7,377			1,673			12,067			10,320
Other		1,609			1,501			2,780			3,110			3,493
Total noninterest income		8,685			11,518			5,557			20,203			15,984
Noninterest expense
Salaries and employee benefits		13,570			13,236			10,867			26,806			23,974
Marketing, advertising and promotion		706			615			702			1,321			1,349
Consulting and professional fees		1,372			1,080			936			2,452			2,164
Data processing		774			775			656			1,549			1,291
Loan expenses		2,109			2,179			1,520			4,288			3,051
Premises and equipment		3,718			3,676			3,281			7,394			6,396
Deposit insurance premium		1,611			1,487			1,564			3,098			2,962
Other		2,262			1,979			2,274			4,241			4,170
Total noninterest expense		26,122			25,027			21,800			51,149			45,357
Income (loss) before income taxes		1,587			1,784			(1,861	)		3,371			(1,828	)
Income tax benefit		(780	)		(725	)		(2,054	)		(1,505	)		(2,964	)
Net income	$	2,367		$	2,509		$	193		$	4,876		$	1,136

Per common share data
Earnings per share - basic	$	0.27		$	0.29		$	0.02		$	0.56		$	0.13
Earnings per share - diluted	$	0.27		$	0.29		$	0.02		$	0.55		$	0.13
Dividends declared per share	$	0.06		$	0.06		$	0.06		$	0.12		$	0.12

First Internet Bancorp
Average Balances and Rates (unaudited)
Dollar amounts in thousands


	Three Months Ended

	June 30, 2026							March 31, 2026							June 30, 2025

	Average			Interest /		Yield /		Average			Interest /		Yield /		Average			Interest /		Yield /
	Balance			Dividends		Cost		Balance			Dividends		Cost		Balance			Dividends		Cost

Assets
Interest-earning assets
Loans, including loans held-for-sale ¹	$	3,838,432		$	60,693	6.34	%	$	3,880,131		$	60,839	6.36	%	$	4,407,196		$	66,685	6.07	%
Securities - taxable		974,877			9,948	4.09	%		943,079			9,496	4.08	%		856,070			9,062	4.25	%
Securities - non-taxable		73,865			629	3.42	%		79,793			654	3.32	%		78,924			654	3.32	%
Other earning assets		561,255			5,366	3.83	%		521,697			4,821	3.75	%		396,829			4,485	4.53	%
Total interest-earning assets		5,448,429			76,636	5.64	%		5,424,700			75,810	5.67	%		5,739,019			80,886	5.65	%

Allowance for credit losses - loans		(57,343	)						(56,106	)						(49,073	)
Noninterest-earning assets		265,264							267,052							234,198
Total assets	$	5,656,350						$	5,635,646						$	5,924,144

Liabilities
Interest-bearing liabilities
Interest-bearing demand deposits	$	1,356,003		$	8,905	2.63	%	$	1,243,549		$	8,168	2.66	%	$	1,226,439		$	9,767	3.19	%
Savings accounts		18,765			39	0.83	%		19,542			41	0.85	%		21,760			46	0.85	%
Money market accounts		1,304,538			10,334	3.18	%		1,292,126			10,103	3.17	%		1,187,782			11,087	3.74	%
Fintech - brokered deposits		57,492			487	3.40	%		-			-	0.00	%		-			-	0.00	%
Certificates and brokered deposits		2,047,005			20,555	4.03	%		2,188,972			22,047	4.08	%		2,356,958			25,894	4.41	%
Total interest-bearing deposits		4,783,803			40,320	3.38	%		4,744,189			40,359	3.45	%		4,792,939			46,794	3.92	%
Other borrowed funds		348,383			3,877	4.46	%		352,117			3,853	4.44	%		567,575			6,102	4.31	%
Total interest-bearing liabilities		5,132,186			44,197	3.45	%		5,096,306			44,212	3.52	%		5,360,514			52,896	3.96	%

Noninterest-bearing deposits		134,166							143,305							153,016
Other noninterest-bearing liabilities		19,751							21,759							18,744
Total liabilities		5,286,103							5,261,370							5,532,274

Shareholders' equity		370,247							374,276							391,870
Total liabilities and shareholders' equity	$	5,656,350						$	5,635,646						$	5,924,144

Net interest income				$	32,439						$	31,598						$	27,990

Interest rate spread						2.19	%						2.15	%						1.69	%

Net interest margin						2.39	%						2.36	%						1.96	%

Net interest margin - FTE ^2,3						2.47	%						2.45	%						2.04	%

¹ Includes nonaccrual loans
² On a fully-taxable equivalent ("FTE") basis assuming a 21% tax rate
³ Refer to "Non-GAAP Financial Measures" section above and "Reconciliation of Non-GAAP Financial Measures" below

First Internet Bancorp
Average Balances and Rates (unaudited)
Dollar amounts in thousands


	Six Months Ended

	June 30, 2026							June 30, 2025

	Average			Interest /		Yield /		Average			Interest /		Yield /
	Balance			Dividends		Cost		Balance			Dividends		Cost

Assets
Interest-earning assets
Loans, including loans held-for-sale ¹	$	3,859,166		$	121,532	6.35	%	$	4,325,518		$	129,347	6.03	%
Securities - taxable		959,066			19,444	4.09	%		838,222			17,525	4.22	%
Securities - non-taxable		76,813			1,283	3.37	%		80,325			1,315	3.30	%
Other earning assets		541,585			10,187	3.79	%		420,921			9,528	4.56	%
Total interest-earning assets		5,436,630			152,446	5.65	%		5,664,986			157,715	5.61	%

Allowance for credit losses - loans		(56,728	)						(47,378	)
Noninterest-earning assets		266,152							230,079
Total assets	$	5,646,054						$	5,847,687

Liabilities
Interest-bearing liabilities
Interest-bearing demand deposits	$	1,300,087		$	17,073	2.65	%	$	1,092,127		$	16,742	3.09	%
Savings accounts		19,151			80	0.84	%		21,167			88	0.84	%
Money market accounts		1,298,366			20,437	3.17	%		1,204,695			22,449	3.76	%
Fintech - brokered deposits		28,905			487	3.40	%		-			-	0.00	%
Certificates and brokered deposits		2,117,596			42,602	4.06	%		2,486,407			55,141	4.47	%
Total interest-bearing deposits		4,764,105			80,679	3.42	%		4,804,396			94,420	3.96	%
Other borrowed funds		350,240			7,730	4.45	%		484,897			10,209	4.25	%
Total interest-bearing liabilities		5,114,345			88,409	3.49	%		5,289,293			104,629	3.99	%

Noninterest-bearing deposits		138,710							144,494
Other noninterest-bearing liabilities		20,749							21,948
Total liabilities		5,273,804							5,455,735

Shareholders' equity		372,250							391,952
Total liabilities and shareholders' equity	$	5,646,054						$	5,847,687

Net interest income				$	64,037						$	53,086

Interest rate spread						2.16	%						1.62	%

Net interest margin						2.38	%						1.89	%

Net interest margin - FTE ^2,3						2.46	%						1.97	%

¹ Includes nonaccrual loans
² On a fully-taxable equivalent ("FTE") basis assuming a 21% tax rate
³ Refer to "Non-GAAP Financial Measures" section above and "Reconciliation of Non-GAAP Financial Measures" below

First Internet Bancorp
Loans and Deposits (unaudited)
Dollar amounts in thousands


	June 30, 2026				March 31, 2026				June 30, 2025

	Amount		Percent		Amount		Percent		Amount		Percent

Commercial loans
Commercial and industrial	$	212,675	5.6	%	$	225,425	6.0	%	$	174,475	4.0	%
Owner-occupied commercial real estate		51,749	1.4	%		48,136	1.3	%		50,096	1.1	%
Investor commercial real estate		669,970	17.5	%		598,933	15.9	%		513,411	11.8	%
Construction		427,076	11.2	%		449,888	11.9	%		332,658	7.6	%
Single tenant lease financing		288,720	7.6	%		254,044	6.7	%		970,042	22.3	%
Public finance		445,507	11.7	%		441,734	11.7	%		476,339	10.9	%
Healthcare finance		121,287	3.2	%		131,161	3.5	%		160,073	3.7	%
Small business lending		435,686	11.4	%		433,964	11.5	%		383,455	8.8	%
Franchise finance		357,182	9.4	%		389,249	10.3	%		479,757	11.0	%
Total commercial loans		3,009,852	79.0	%		2,972,534	78.8	%		3,540,306	81.2	%

Consumer loans
Residential mortgage		326,258	8.6	%		338,058	9.0	%		358,922	8.2	%
Home equity		14,102	0.4	%		14,219	0.4	%		16,668	0.4	%
Trailers		252,325	6.6	%		242,022	6.4	%		228,786	5.2	%
Recreational vehicles		143,547	3.8	%		142,442	3.8	%		144,476	3.3	%
Other consumer loans		45,916	1.2	%		46,874	1.2	%		48,319	1.1	%
Total consumer loans		782,148	20.6	%		783,615	20.8	%		797,171	18.2	%

Net deferred loan fees, premiums, discounts and other ¹		19,073	0.4	%		19,721	0.4	%		25,085	0.6	%

Total loans	$	3,811,073	100.0	%	$	3,775,870	100.0	%	$	4,362,562	100.0	%


	June 30, 2026				March 31, 2026				June 30, 2025

	Amount		Percent		Amount		Percent		Amount		Percent

Deposits
Noninterest-bearing deposits	$	131,366	2.7	%	$	149,505	3.0	%	$	145,166	2.7	%
Interest-bearing demand deposits		1,493,178	30.9	%		1,358,028	27.3	%		1,458,123	27.5	%
Savings accounts		18,738	0.4	%		20,344	0.4	%		20,902	0.4	%
Money market accounts		1,245,591	25.8	%		1,325,382	26.6	%		1,210,960	22.9	%
Fintech - brokered deposits		23,344	0.5	%		-	0.0	%		-	0.0	%
Certificates of deposits		1,683,450	34.8	%		1,869,181	37.5	%		2,146,356	40.5	%
Brokered deposits		235,711	4.9	%		259,210	5.2	%		317,282	6.0	%

Total deposits	$	4,831,378	100.0	%	$	4,981,650	100.0	%	$	5,298,789	100.0	%

¹ Includes carrying value adjustments of $17.3 million, $18.1 million and $21.2 million related to terminated interest rate swaps associated with public finance loans as of June 30, 2026, March 31, 2026 and June 30, 2025, respectively.

First Internet Bancorp
Reconciliation of Non-GAAP Financial Measures
Dollar amounts in thousands, except per share data


	Three Months Ended									Six Months Ended

	June 30			March 31			June 30			June 30			June 30
		2026			2026			2025			2026			2025

Total equity - GAAP	$	363,547		$	360,954		$	390,239		$	363,547		$	390,239
Adjustments:
Goodwill		(4,687	)		(4,687	)		(4,687	)		(4,687	)		(4,687	)
Tangible common equity	$	358,860		$	356,267		$	385,552		$	358,860		$	385,552

Total assets - GAAP	$	5,556,375		$	5,711,688		$	6,072,573		$	5,556,375		$	6,072,573
Adjustments:
Goodwill		(4,687	)		(4,687	)		(4,687	)		(4,687	)		(4,687	)
Tangible assets	$	5,551,688		$	5,707,001		$	6,067,886		$	5,551,688		$	6,067,886

Common shares outstanding		8,733,574			8,716,662			8,713,094			8,733,574			8,713,094

Book value per common share	$	41.63		$	41.41		$	44.79		$	41.63		$	44.79
Effect of goodwill		(0.54	)		(0.54	)		(0.54	)		(0.54	)		(0.54	)
Tangible book value per common share	$	41.09		$	40.87		$	44.25		$	41.09		$	44.25

Total shareholders' equity to assets		6.54	%		6.32	%		6.43	%		6.54	%		6.43	%
Effect of goodwill		(0.08	%)		(0.08	%)		(0.08	%)		(0.08	%)		(0.08	%)
Tangible common equity to tangible assets		6.46	%		6.24	%		6.35	%		6.46	%		6.35	%

Total average equity - GAAP	$	370,247		$	374,276		$	391,870		$	372,250		$	391,952
Adjustments:
Average goodwill		(4,687	)		(4,687	)		(4,687	)		(4,687	)		(4,687	)
Average tangible common equity	$	365,560		$	369,589		$	387,183		$	367,563		$	387,265

Return on average shareholders' equity		2.56	%		2.72	%		0.20	%		2.64	%		0.58	%
Effect of goodwill		0.04	%		0.03	%		0.00	%		0.04	%		0.01	%
Return on average tangible common equity		2.60	%		2.75	%		0.20	%		2.68	%		0.59	%

Total interest income	$	76,636		$	75,810		$	80,886		$	152,446		$	157,715
Adjustments:
Fully-taxable equivalent adjustments ¹		1,142			1,160			1,157			2,302			2,326
Total interest income - FTE	$	77,778		$	76,970		$	82,043		$	154,748		$	160,041

Net interest income	$	32,439		$	31,598		$	27,990		$	64,037		$	53,086
Adjustments:
Fully-taxable equivalent adjustments ¹		1,142			1,160			1,157			2,302			2,326
Net interest income - FTE	$	33,581		$	32,758