First Internet Bancorp Reports Record Quarterly Revenue and

Continued Net Interest Margin Expansion

- Record quarterly revenue of $43.9 million, up 7% from the prior quarter -

- NIM expands 8 basis points to 2.47%; FTE NIM increases to 2.55%1 -

- Net charge-offs and delinquencies decline significantly from the prior quarter -

- Diluted earnings per share of $0.54; adjusted diluted earnings per share of $0.571 -

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

Fishers, Indiana, October 29, 2026 – First Internet Bancorp (the “Company”) (Nasdaq: INBK), the parent company of First Internet Bank (the “Bank”), announced today financial and operational results for the third quarter ended September 30, 2026.

Key Business Updates

•Record Quarterly Revenue and Continued Margin Expansion: Total revenue rose 7% quarter-over-quarter to $43.9 million, driven by growth in both net interest income (up 7%) and noninterest income (up 6%). Fully-taxable equivalent (“FTE”) net interest margin expanded again in the third quarter to 2.55%1 (up 8 basis points). Additionally, when combined with well-managed expenses, pre-provision net revenue grew 14% quarter-over-quarter to $17.1 million1. Fintech partnerships revenue contributed to the growth in net interest income from embedded finance as well as noninterest income as fintech fee revenue was up 13% from the prior quarter.

•Overall Credit Quality Normalization on Track: Provision for credit losses for the third quarter of $11.6 million, down 13% from $13.4 million in the second quarter of 2026. The decrease was driven by lower net charge-offs, which declined to 0.82% of average loans from 1.77% in the second quarter of 2026, partially offset by specific reserves related to franchise finance loans placed on nonaccrual, including one large relationship the Company took action on late in the quarter ($2.6 million of specific reserves). Furthermore, total delinquencies, excluding nonperforming loans, declined for the second consecutive quarter and are down 38% from the prior quarter, representing 0.48% of total performing loans.

•Loan Portfolio Re-mix Toward Core Lending Areas: In line with the previously stated strategy, the loan portfolio continued to shift toward core verticals with higher new origination yields. As a result, the loan portfolio yield increased 8 basis points (“bps”) from the prior quarter. This reflected strong quarterly growth in investor commercial real estate, single tenant lease financing, wealth advisory lending and embedded finance, while previously exited, lower-yielding portfolios continued to run off. At the same time, the growing fintech deposit base allowed the Company to retire higher-cost CDs and brokered deposits, contributing to the margin expansion.

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."

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“Our third quarter results reflect continued execution of the strategy we have laid out for the last several quarters, with earnings momentum continuing to build,” said David Becker, Chairman and CEO of First Internet Bancorp. “Total revenue hit an all-time high in the quarter, driving positive operating leverage powered by record net interest income, continued net interest margin expansion and solid fee revenue growth. Additionally, credit trends continued to improve with meaningful declines in both net charge-offs and delinquencies. We also took proactive action on a larger franchise finance relationship this quarter; however, our underlying earnings strength allowed us to absorb the related provision impact and still produce strong quarterly growth in net income and earnings per share.

“The bottom line is that First Internet Bancorp is getting stronger every day. Loan pipelines in our scalable core lending areas are robust, and emerging verticals such as embedded finance and wealth advisory lending have exciting long-term growth potential. Our fintech platform continues to expand, driving growth in both fee revenue and lower-cost deposits. We also continue to invest in automation and AI-enabled tools across our lending and servicing operations, improving efficiency while elevating the experience we deliver for our customers and partners. Taken together, these trends create an exciting pathway towards accelerating earnings and stronger profitability. As we move into the fourth quarter and into 2027, we are confident in our ability to build on this momentum and deliver long-term value for our shareholders.”

Third Quarter 2026 Financial Performance

•Net income of $4.8 million and diluted earnings per share of $0.54

•Adjusted net income of $5.1 million1 and adjusted diluted earnings per share of $0.571, both up significantly from the prior quarter and prior year period

•Pre-tax non-recurring severance costs of $0.4 million recognized during the quarter    

•Record quarterly revenue of $43.9 million, up 7% from the prior quarter and 1% from adjusted quarterly revenue1 in the prior year period

•Net interest income of $34.7 million and FTE net interest income of $35.9 million1, both increased 7% over the prior quarter and 14% over the prior year period

•Achieved strong quarterly growth despite recognizing $1.2 million in interest reversals related to franchise finance loans placed on nonaccrual during the quarter ($0.6 million related to the large relationship discussed above)

•Net interest margin of 2.47% and FTE net interest margin of 2.55%1, both increasing 8 bps from the prior quarter and 43 bps from the prior year period

•Interest reversals discussed above impacted net interest margin by 9 bps

•Noninterest income of $9.2 million, up 6% from the prior quarter and down 30% from adjusted noninterest income1 in the prior year period

•Adjusted pre-provision net revenue (“PPNR”) of $17.1 million1, up 14% from the prior quarter and down 6% from the prior year period

•Total loan balances of $3.9 billion, up $52.9 million, or 1%, from the second quarter of 2026

•The yield on the loan portfolio increased to 6.42%, up 8 bps from the prior quarter and 24 bps from the prior year period

•Strong loan production in core verticals partially offset by early payoffs and runoff in exited portfolios

•Total deposits of $5.2 billion, up $321.4 million, or 7%, from the second quarter 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."

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•Continued growth in fintech deposits, providing capacity to replace higher-cost CDs and brokered deposits

•The cost of interest-bearing deposits declined to 3.32%, down 6 bps from the prior quarter and 55 bps from the prior year period

•Approximately $2.9 billion of fintech deposits held off-balance sheet in a deposit network, providing flexibility to manage the size of the balance sheet

•Loans to deposits ratio of 75%

•Provision for credit losses of $11.6 million, down $1.8 million, or 13%, from the second quarter of 2026

•Net charge-offs to average loans of 0.82%, a decrease from 1.77% in the second quarter of 2026

•Decrease in net charge-offs due to declines in franchise finance and small business lending net charge-offs

•Nonperforming loans (“NPLs”) to total loans of 1.63%, compared to 1.58% in the second quarter of 2026; allowance for credit losses - loans (“ACL”) to total loans of 1.48%, compared to 1.39% in the second quarter of 2026

•Increase in NPLs due primarily to franchise finance loans moved to nonaccrual

•NPLs / total loans of 1.14%1 excluding fully-guaranteed balances, up from 1.07% in the second quarter of 2026

•ACL to NPLs of 91%; or 131%1 excluding fully-guaranteed balances

•Tangible common equity to tangible assets of 5.94%1, and 6.96%1 ex-AOCI and adjusted for normalized cash balances; CET1 ratio of 8.86%2; total capital ratio of 12.32%2

•Tangible book value per common share of $40.041, down from $41.091 in the second quarter of 2026

Fourth Quarter 2026 Outlook

•Diluted earnings per share of $1.02 to $1.07

•FTE net interest margin of 2.75% to 2.80%, driven by ongoing loan portfolio optimization and stable deposit costs (assumes additional 25 bp increase in Fed Funds rate in December)

•FTE net interest income of around $38.5 million

•Noninterest income of around $7.5 million, reflecting lower small business lending originations and gain on sale activity, partially offset by continued growth in fintech revenue

•Noninterest expense of around $26.5 million

•Provision for credit losses of $7.5 million to $8.0 million

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

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Conference Call and Webcast

The Company will host a conference call and webcast at 5:00 p.m. Eastern Time today, October 29, 2026, to discuss its quarterly financial results. The call can be accessed via telephone at (833) 461-5787; meeting id: 571140239. 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 $5.9 billion as of September 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

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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, adjusted total revenue, pre-provision net revenue, adjusted pre-provision net revenue, adjusted noninterest income, adjusted noninterest expense, adjusted income before income taxes, adjusted income tax provision, adjusted net income, adjusted diluted earnings per share, adjusted return on average assets, adjusted return on average shareholders’ equity, adjusted return on average tangible common equity, 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.”

Contact Information:
Investors/Analysts
Paula Deemer
Director of Corporate Administration
(317) 428-4628
investors@firstib.com
Media
PANBlast
Zach Weismiller
firstib@panblastpr.com

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First Internet Bancorp
Summary Financial Information (unaudited)
Dollar amounts in thousands, except per share data
						Three Months Ended																		Nine Months Ended
						September 30, 2026						June 30, 2026						September 30, 2025						September 30, 2026						September 30, 2025
Net income (loss)						$	4,819					$	2,367					$	(41,593)					$	9,695					$	(40,457)
Per share and share information
Earnings (loss) per share - basic						$	0.55					$	0.27					$	(4.76)					$	1.11					$	(4.63)
Earnings (loss) per share - diluted						0.54						0.27						(4.76)						1.10						(4.63)
Dividends declared per share						0.06						0.06						0.06						0.18						0.18
Book value per common share						40.58						41.63						40.42						40.58						40.42
Tangible book value per common share 1						40.04						41.09						39.88						40.04						39.88
Common shares outstanding						8,733,574						8,733,574						8,713,094						8,733,574						8,713,094
Average common shares outstanding:
Basic						8,762,827						8,754,008						8,742,052						8,750,511						8,730,519
Diluted						8,865,954						8,822,099						8,742,052						8,821,890						8,730,519
Performance ratios
Return on average assets						0.33		%				0.17		%				(2.71		%)				0.23		%				(0.91		%)
Return on average shareholders' equity						5.19		%				2.56		%				(42.11		%)				3.50		%				(13.80		%)
Return on average tangible common equity 1						5.26		%				2.60		%				(42.62		%)				3.54		%				(13.97		%)
Net interest margin						2.47		%				2.39		%				2.04		%				2.41		%				1.94		%
Net interest margin - FTE 1,2						2.55		%				2.47		%				2.12		%				2.49		%				2.02		%
Capital ratios 3
Total shareholders' equity to assets						6.02		%				6.54		%				6.25		%				6.02		%				6.25		%
Tangible common equity to tangible assets 1						5.94		%				6.46		%				6.17		%				5.94		%				6.17		%
Tier 1 leverage ratio						6.15		%				6.23		%				5.69		%				6.15		%				5.69		%
Common equity tier 1 capital ratio						8.86		%				8.90		%				9.24		%				8.86		%				9.24		%
Tier 1 capital ratio						8.86		%				8.90		%				9.24		%				8.86		%				9.24		%
Total risk-based capital ratio						12.32		%				12.22		%				13.11		%				12.32		%				13.11		%
Asset quality
Nonperforming loans						$	63,056					$	60,073					$	53,250					$	63,056					$	53,250
Nonperforming assets						67,464						64,573						55,237						67,464						55,237
Nonperforming loans to loans						1.63		%				1.58		%				1.47		%				1.63		%				1.47		%
Nonperforming assets to total assets						1.15		%				1.16		%				0.98		%				1.15		%				0.98		%
Allowance for credit losses - loans to:
Loans						1.48		%				1.39		%				1.65		%				1.48		%				1.65		%
Nonperforming loans						91.0		%				88.4		%				112.5		%				91.0		%				112.5		%
Net charge-offs to average loans						0.82		%				1.77		%				1.89		%				1.41		%				1.38		%
Average balance sheet information
Loans						$	3,873,251					$	3,836,149					$	4,415,693					$	3,861,188					$	4,350,947
Total securities						1,088,563						1,048,742						898,543						1,053,633						911,805
Other earning assets						619,347						561,255						569,811						567,791						471,096
Total interest-earning assets						5,582,792						5,448,429						5,895,554						5,485,886						5,742,686
Total assets						5,796,473						5,656,350						6,081,792						5,696,745						5,926,580
Noninterest-bearing deposits						146,911						134,166						174,494						141,474						154,604
Interest-bearing deposits						4,903,029						4,783,803						5,133,010						4,810,923						4,915,137
Total deposits						5,049,940						4,917,969						5,307,504						4,952,397						5,069,741
Shareholders' equity						368,091						370,247						391,886						370,849						391,930

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

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First Internet Bancorp
Condensed Consolidated Balance Sheets (unaudited)
Dollar amounts in thousands
						September 30, 2026						June 30, 2026						September 30, 2025
Assets
Cash and due from banks						$	5,977					$	8,692					$	10,923
Interest-bearing deposits						646,297						402,276						776,738
Securities available-for-sale, at fair value						843,108						786,676						625,906
Securities held-to-maturity, at amortized cost, net of allowance for credit losses						255,934						264,662						261,725
Loans held-for-sale						34,855						44,816						114,701
Loans						3,863,984						3,811,073						3,630,385
Allowance for credit losses - loans						(57,361)						(53,096)						(59,923)
Net loans						3,806,623						3,757,977						3,570,462
Accrued interest receivable						28,565						29,136						26,674
Federal Home Loan Bank of Indianapolis stock						28,350						28,350						28,350
Cash surrender value of bank-owned life insurance						43,492						43,175						42,256
Premises and equipment, net						64,538						65,720						68,843
Goodwill						4,687						4,687						4,687
Servicing asset						23,620						23,180						22,107
Other real estate owned						4,141						4,121						1,801
Accrued income and other assets						97,816						92,907						84,001
Total assets						$	5,888,003					$	5,556,375					$	5,639,174
Liabilities
Noninterest-bearing deposits						$	159,051					$	131,366					$	243,539
Interest-bearing deposits						4,993,715						4,700,012						4,671,895
Total deposits						5,152,766						4,831,378						4,915,434
Advances from Federal Home Loan Bank						239,500						239,500						249,500
Subordinated debt						123,506						105,626						105,386
Accrued interest payable						1,298						1,594						1,236
Accrued expenses and other liabilities						16,525						14,730						15,450
Total liabilities						5,533,595						5,192,828						5,287,006
Shareholders' equity
Voting common stock						188,065						187,545						186,608
Retained earnings						201,399						197,119						188,564
Accumulated other comprehensive loss						(35,056)						(21,117)						(23,004)
Total shareholders' equity						354,408						363,547						352,168
Total liabilities and shareholders' equity						$	5,888,003					$	5,556,375					$	5,639,174

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First Internet Bancorp
Condensed Consolidated Statements of Income (unaudited)
Dollar amounts in thousands, except per share data
			Three Months Ended																		Nine Months Ended
			September 30, 2026						June 30, 2026						September 30, 2025						September 30, 2026						September 30, 2025
Interest income
Loans			$	62,656					$	60,693					$	68,958					$	184,188					$	198,305
Securities - taxable			10,772						9,948						8,614						30,216						26,139
Securities - non-taxable			621						629						652						1,904						1,967
Other earning assets			5,982						5,366						6,164						16,169						15,692
Total interest income			80,031						76,636						84,388						232,477						242,103
Interest expense
Deposits			41,080						40,320						50,134						121,759						144,554
Other borrowed funds			4,209						3,877						3,902						11,939						14,111
Total interest expense			45,289						44,197						54,036						133,698						158,665
Net interest income			34,742						32,439						30,352						98,779						83,438
Provision for credit losses			11,629						13,415						34,789						41,349						60,330
Net interest income (loss) after provision for credit losses			23,113						19,024						(4,437)						57,430						23,108
Noninterest income (loss)
Service charges and fees			1,391						1,112						369						3,347						912
Loan servicing revenue			2,824						2,853						2,055						8,533						6,017
Loan servicing asset revaluation			(961)						(1,579)						(1,332)						(3,600)						(3,666)
Gain (loss) on sale of loans			4,792						4,690						(27,103)						16,859						(16,783)
Other			1,153						1,609						1,364						4,263						4,857
Total noninterest income (loss)			9,199						8,685						(24,647)						29,402						(8,663)
Noninterest expense
Salaries and employee benefits			14,761						13,570						14,384						41,567						38,358
Marketing, advertising and promotion			733						706						482						2,054						1,831
Consulting and professional fees			960						1,372						979						3,412						3,143
Data processing			713						774						651						2,262						1,942
Loan expenses			2,392						2,109						1,850						6,680						4,901
Premises and equipment			3,654						3,718						3,572						11,048						9,968
Deposit insurance premium			1,660						1,611						1,584						4,758						4,546
Other			2,384						2,262						1,957						6,625						6,127
Total noninterest expense			27,257						26,122						25,459						78,406						70,816
Income (loss) before income taxes			5,055						1,587						(54,543)						8,426						(56,371)
Income tax provision (benefit)			236						(780)						(12,950)						(1,269)						(15,914)
Net income (loss)			$	4,819					$	2,367					$	(41,593)					$	9,695					$	(40,457)
Per common share data
Earnings (loss) per share - basic			$	0.55					$	0.27					$	(4.76)					$	1.11					$	(4.63)
Earnings (loss) per share - diluted			$	0.54					$	0.27					$	(4.76)					$	1.10					$	(4.63)
Dividends declared per share			$	0.06					$	0.06					$	0.06					$	0.18					$	0.18

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First Internet Bancorp
Average Balances and Rates (unaudited)
Dollar amounts in thousands
			Three Months Ended
			September 30, 2026																		June 30, 2026																		September 30, 2025
			Average Balance						Interest / Dividends						Yield / Cost						Average Balance						Interest / Dividends						Yield / Cost						Average Balance						Interest / Dividends						Yield / Cost
Assets
Interest-earning assets
Loans, including loans held-for-sale 1			$	3,874,882					$	62,656					6.42		%				$	3,838,432					$	60,693					6.34		%				$	4,427,200					$	68,958					6.18		%
Securities - taxable			1,017,130						10,772						4.20		%				974,877						9,948						4.09		%				819,941						8,614						4.17		%
Securities - non-taxable			71,433						621						3.45		%				73,865						629						3.42		%				78,602						652						3.29		%
Other earning assets			619,347						5,982						3.83		%				561,255						5,366						3.83		%				569,811						6,164						4.29		%
Total interest-earning assets			5,582,792						80,031						5.69		%				5,448,429						76,636						5.64		%				5,895,554						84,388						5.68		%
Allowance for credit losses - loans			(55,609)																		(57,343)																		(49,495)
Noninterest-earning assets			269,290																		265,264																		235,733
Total assets			$	5,796,473																	$	5,656,350																	$	6,081,792
Liabilities
Interest-bearing liabilities
Interest-bearing demand deposits			$	1,437,634					$	9,861					2.72		%				$	1,356,003					$	8,905					2.63		%				$	1,399,323					$	11,742					3.33		%
Savings accounts			18,153						38						0.83		%				18,765						39						0.83		%				20,035						42						0.83		%
Money market accounts			1,239,822						9,859						3.15		%				1,304,538						10,334						3.18		%				1,250,350						11,771						3.73		%
Fintech - brokered deposits			428,992						3,647						3.37		%				57,492						487						3.40		%				—						—						—		%
Certificates and brokered deposits			1,778,428						17,675						3.94		%				2,047,005						20,555						4.03		%				2,463,302						26,579						4.28		%
Total interest-bearing deposits			4,903,029						41,080						3.32		%				4,783,803						40,320						3.38		%				5,133,010						50,134						3.87		%
Other borrowed funds			353,978						4,209						4.72		%				348,383						3,877						4.46		%				365,119						3,902						4.24		%
Total interest-bearing liabilities			5,257,007						45,289						3.42		%				5,132,186						44,197						3.45		%				5,498,129						54,036						3.90		%
Noninterest-bearing deposits			146,911																		134,166																		174,494
Other noninterest-bearing liabilities			24,464																		19,751																		17,283
Total liabilities			5,428,382																		5,286,103																		5,689,906
Shareholders' equity			368,091																		370,247																		391,886
Total liabilities and shareholders' equity			$	5,796,473																	$	5,656,350																	$	6,081,792
Net interest income									$	34,742																	$	32,439																	$	30,352
Interest rate spread															2.27		%																2.19		%																1.78		%
Net interest margin															2.47		%																2.39		%																2.04		%
Net interest margin - FTE 2,3															2.55		%																2.47		%																2.12		%

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

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First Internet Bancorp
Average Balances and Rates (unaudited)
Dollar amounts in thousands
			Nine Months Ended
			September 30, 2026																		September 30, 2025
			Average Balance						Interest / Dividends						Yield / Cost						Average Balance						Interest / Dividends						Yield / Cost
Assets
Interest-earning assets
Loans, including loans held-for-sale 1			$	3,864,462					$	184,188					6.37		%				$	4,359,785					$	198,305					6.08		%
Securities - taxable			978,633						30,216						4.13		%				832,060						26,139						4.20		%
Securities - non-taxable			75,000						1,904						3.39		%				79,745						1,967						3.30		%
Other earning assets			567,791						16,169						3.81		%				471,096						15,692						4.45		%
Total interest-earning assets			5,485,886						232,477						5.67		%				5,742,686						242,103						5.64		%
Allowance for credit losses - loans			(56,350)																		(48,091)
Noninterest-earning assets			267,209																		231,985
Total assets			$	5,696,745																	$	5,926,580
Liabilities
Interest-bearing liabilities
Interest-bearing demand deposits			$	1,346,440					$	26,933					2.67		%				$	1,195,651					$	28,483					3.19		%
Savings accounts			18,815						118						0.84		%				20,786						131						0.84		%
Money market accounts			1,278,637						30,297						3.17		%				1,220,080						34,220						3.75		%
Fintech - brokered deposits			163,733						4,134						3.38		%				—						—						—		%
Certificates and brokered deposits			2,003,298						60,277						4.02		%				2,478,620						81,720						4.41		%
Total interest-bearing deposits			4,810,923						121,759						3.38		%				4,915,137						144,554						3.93		%
Other borrowed funds			351,499						11,939						4.54		%				444,532						14,111						4.24		%
Total interest-bearing liabilities			5,162,422						133,698						3.46		%				5,359,669						158,665						3.96		%
Noninterest-bearing deposits			141,474																		154,604
Other noninterest-bearing liabilities			22,000																		20,377
Total liabilities			5,325,896																		5,534,650
Shareholders' equity			370,849																		391,930
Total liabilities and shareholders' equity			$	5,696,745																	$	5,926,580
Net interest income									$	98,779																	$	83,438
Interest rate spread															2.21		%																1.68		%
Net interest margin															2.41		%																1.94		%
Net interest margin - FTE 2,3															2.49		%																2.02		%

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

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First Internet Bancorp
Loans and Deposits (unaudited)
Dollar amounts in thousands
						September 30, 2026												June 30, 2026												September 30, 2025
						Amount						Percent						Amount						Percent						Amount						Percent
Commercial loans
Commercial and industrial						$	237,667					6.2		%				$	212,675					5.6		%				$	206,301					5.7		%
Owner-occupied commercial real estate						50,082						1.3		%				51,749						1.4		%				50,046						1.4		%
Investor commercial real estate						753,690						19.4		%				669,970						17.5		%				644,184						17.7		%
Construction						400,302						10.4		%				427,076						11.2		%				300,291						8.3		%
Single tenant lease financing						308,594						8.0		%				288,720						7.6		%				135,025						3.8		%
Public finance						430,381						11.1		%				445,507						11.7		%				480,119						13.2		%
Healthcare finance						112,406						2.9		%				121,287						3.2		%				150,522						4.1		%
Small business lending						439,335						11.4		%				435,686						11.4		%				401,628						11.1		%
Franchise finance						330,626						8.6		%				357,182						9.4		%				450,340						12.4		%
Total commercial loans						3,063,083						79.3		%				3,009,852						79.0		%				2,818,456						77.7		%
Consumer loans
Residential mortgage						319,972						8.3		%				326,258						8.6		%				349,275						9.6		%
Home equity						16,186						0.4		%				14,102						0.4		%				15,806						0.4		%
Trailers						256,533						6.6		%				252,325						6.6		%				232,006						6.4		%
Recreational vehicles						145,090						3.8		%				143,547						3.8		%				142,245						3.9		%
Other consumer loans						44,684						1.2		%				45,916						1.2		%				48,753						1.3		%
Total consumer loans						782,465						20.3		%				782,148						20.6		%				788,085						21.6		%
Net deferred loan fees, premiums, discounts and other 1						18,436						0.4		%				19,073						0.4		%				23,844						0.7		%
Total loans						$	3,863,984					100.0		%				$	3,811,073					100.0		%				$	3,630,385					100.0		%
						September 30, 2026												June 30, 2026												September 30, 2025
						Amount						Percent						Amount						Percent						Amount						Percent
Deposits
Noninterest-bearing deposits						$	159,051					3.2		%				$	131,366					2.7		%				$	243,539					5.0		%
Interest-bearing demand deposits						1,713,795						33.3		%				1,493,178						30.9		%				1,003,950						20.4		%
Savings accounts						17,564						0.3		%				18,738						0.4		%				18,694						0.4		%
Money market accounts						1,232,524						23.9		%				1,245,591						25.8		%				1,250,202						25.4		%
Fintech - brokered deposits						341,610						6.6		%				23,344						0.5		%				—						—		%
Certificates of deposits						1,479,994						28.7		%				1,683,450						34.8		%				2,115,613						43.0		%
Brokered deposits						208,228						4.0		%				235,711						4.9		%				283,436						5.8		%
Total deposits						$	5,152,766					100.0		%				$	4,831,378					100.0		%				$	4,915,434					100.0		%

1 Includes carrying value adjustments of $16.4 million, $17.3 million and $20.2 million related to terminated interest rate swaps associated with public finance loans as of September 30, 2026, June 30, 2026 and September 30, 2025, respectively.

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First Internet Bancorp
Reconciliation of Non-GAAP Financial Measures
Dollar amounts in thousands, except per share data
						Three Months Ended																		Nine Months Ended
						September 30, 2026						June 30, 2026						September 30, 2025						September 30, 2026						September 30, 2025
Total equity - GAAP						$	354,408					$	363,547					$	352,168					$	354,408					$	352,168
Adjustments:
Goodwill						(4,687)						(4,687)						(4,687)						(4,687)						(4,687)
Tangible common equity						$	349,721					$	358,860					$	347,481					$	349,721					$	347,481
Total assets - GAAP						$	5,888,003					$	5,556,375					$	5,639,174					$	5,888,003					$	5,639,174
Adjustments:
Goodwill						(4,687)						(4,687)						(4,687)						(4,687)						(4,687)
Tangible assets						$	5,883,316					$	5,551,688					$	5,634,487					$	5,883,316					$	5,634,487
Common shares outstanding						8,733,574						8,733,574						8,713,094						8,733,574						8,713,094
Book value per common share						$	40.58					$	41.63					$	40.42					$	40.58					$	40.42
Effect of goodwill						(0.54)						(0.54)						(0.54)						(0.54)						(0.54)
Tangible book value per common share						$	40.04					$	41.09					$	39.88					$	40.04					$	39.88
Total shareholders' equity to assets						6.02		%				6.54		%				6.25		%				6.02		%				6.25		%
Effect of goodwill						(0.08		%)				(0.08		%)				(0.08		%)				(0.08		%)				(0.08		%)
Tangible common equity to tangible assets						5.94		%				6.46		%				6.17		%				5.94		%				6.17		%
Total average equity - GAAP						$	368,091					$	370,247					$	391,886					$	370,849					$	391,930
Adjustments:
Average goodwill						(4,687)						(4,687)						(4,687)						(4,687)						(4,687)
Average tangible common equity						$	363,404					$	365,560					$	387,199					$	366,162					$	387,243
Return on average shareholders' equity						5.19		%				2.56		%				(42.11		%)				3.50		%				(13.80		%)
Effect of goodwill						0.07		%				0.04		%				(0.51		%)				0.04		%				(0.17		%)
Return on average tangible common equity						5.26		%				2.60		%				(42.62		%)				3.54		%				(13.97		%)
Total interest income						$	80,031					$	76,636					$	84,388					$	232,477					$	242,103
Adjustments:
Fully-taxable equivalent adjustments 1						1,116						1,142						1,158						3,418						3,484
Total interest income - FTE						$	81,147					$	77,778					$	85,546					$	235,895					$	245,587
Net interest income						$	34,742					$	32,439					$	30,352					$	98,779					$	83,438
Adjustments:
Fully-taxable equivalent adjustments 1						1,116						1,142						1,158						3,418						3,484
Net interest income - FTE						$	35,858					$	33,581					$	31,510					$	102,197					$	86,922
Net interest margin						2.47		%				2.39		%				2.04		%				2.41		%				1.94		%
Effect of fully-taxable equivalent adjustments 1						0.08		%				0.08		%				0.08		%				0.08		%				0.08		%
Net interest margin - FTE						2.55		%				2.47		%				2.12		%				2.49		%				2.02		%

1Assuming a 21% tax rate

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First Internet Bancorp
Reconciliation of Non-GAAP Financial Measures
Dollar amounts in thousands, except per share data
						Three Months Ended																		Nine Months Ended
						September 30, 2026						June 30, 2026						September 30, 2025						September 30, 2026						September 30, 2025
Total revenue - GAAP						$	43,941					$	41,124					$	5,705					$	128,181					$	74,775
Adjustments:
Loss on sale of loans						—						—						37,823						—						37,823
Adjusted total revenue						$	43,941					$	41,124					$	43,528					$	128,181					$	112,598
Net income (loss) - GAAP						$	4,819					$	2,367					$	(41,593)					$	9,695					$	(40,457)
Adjustments:1
Provision for credit losses						11,629						13,415						34,789						41,349						60,330
Income tax (benefit) provision						236						(780)						(12,950)						(1,269)						(15,914)
Pre-provision net revenue (loss)						$	16,684					$	15,002					$	(19,754)					$	49,775					$	3,959
Pre-tax, pre-provision income (loss)						$	16,684					$	15,002					$	(19,754)					$	49,775					$	3,959
Adjustments:1
Loss on sale of loans						—						—						37,823						—						37,823
Employee severance expense						371						—						—						371						—
Adjusted pre-provision net revenue						$	17,055					$	15,002					$	18,069					$	50,146					$	41,782
Noninterest (loss) income - GAAP						$	9,199					$	8,685					$	(24,647)					$	29,402					$	(8,663)
Adjustments:
Loss on sale of loans						—						—						37,823						—						37,823
Adjusted noninterest income						$	9,199					$	8,685					$	13,176					$	29,402					$	29,160
Noninterest expense - GAAP						$	27,257					$	26,122					$	25,459					$	78,406					$	70,816
Adjustments:
Employee severance expense						(371)						—						—						(371)						—
Adjusted noninterest expense						$	26,886					$	26,122					$	25,459					$	78,035					$	70,816
Income (loss) before income taxes - GAAP						$	5,055					$	1,587					$	(54,543)					$	8,426					$	(56,371)
Adjustments:
Loss on sale of loans						—						—						37,823						—						37,823
Employee severance expense						371						—						—						371						—
Adjusted income (loss) before income taxes						$	5,426					$	1,587					$	(16,720)					$	8,797					$	(18,548)
Income tax provision (benefit) - GAAP						$	236					$	(780)					$	(12,950)					$	(1,269)					$	(15,914)
Adjustments:1
Loss on sale of loans						—						—						8,699						—						8,699
Employee severance expense						78						—						—						78						—
Adjusted income tax provision (benefit)						$	314					$	(780)					$	(4,251)					$	(1,191)					$	(7,215)
Net income (loss) - GAAP						$	4,819					$	2,367					$	(41,593)					$	9,695					$	(40,457)
Adjustments:1
Loss on sale of loans						—						—						29,124						—						29,124
Employee severance expense						293						—						—						293						—
Adjusted net income (loss)						$	5,112					$	2,367					$	(12,469)					$	9,988					$	(11,333)
Diluted average common shares outstanding						8,865,954						8,822,099						8,742,052						8,821,890						8,730,519
Diluted earnings (loss) per share - GAAP						$	0.54					$	0.27					$	(4.76)					$	1.10					$	(4.63)
Adjustments:
Effect of loss on sale of loans						—						—						3.33						—						3.34
Effect of Employee severance expense						0.03						—						—						0.03						—
Adjusted diluted earnings (loss) per share						$	0.57					$	0.27					$	(1.43)					$	1.13					$	(1.29)
1Assuming a 21% tax rate

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First Internet Bancorp
Reconciliation of Non-GAAP Financial Measures
Dollar amounts in thousands, except per share data
						Three Months Ended																		Nine Months Ended
						September 30, 2026						June 30, 2026						September 30, 2025						September 30, 2026						September 30, 2025
Return on average assets						0.33		%				0.17		%				(2.71		%)				0.23		%				(0.91		%)
Effect of loss on sale of loans						0.00		%				0.00		%				1.90		%				0.00		%				0.66		%
Effect of Employee severance expense						0.02		%				0.00		%				0.00		%				0.01		%				0.00		%
Adjusted return on average assets						0.35		%				0.17		%				(0.81		%)				0.24		%				(0.25		%)
Return on average shareholders' equity						5.19		%				2.56		%				(42.11		%)				3.50		%				(13.80		%)
Effect of loss on sale of loans						0.00		%				0.00		%				29.48		%				0.00		%				9.94		%
Effect of Employee severance expense						0.32		%				0.00		%				0.00		%				0.11		%				0.00		%
Adjusted return on average shareholders' equity						5.51		%				2.56		%				(12.63		%)				3.61		%				(3.86		%)
Return on average tangible common equity						5.26		%				2.60		%				(42.62		%)				3.54		%				(13.97		%)
Effect of loss on sale of loans						0.00		%				0.00		%				29.84		%				0.00		%				10.06		%
Effect of Employee severance expense						0.32		%				0.00		%				0.00		%				0.11		%				0.00		%
Adjusted return on average tangible common equity						5.58		%				2.60		%				(12.78		%)				3.65		%				(3.91		%)
Tangible common equity						$	349,721					$	358,860					$	347,481					$	349,721					$	347,481
Adjustments:
Accumulated other comprehensive loss						35,056						21,117						23,004						35,056						23,004
Adjusted tangible common equity						$	384,777					$	379,977					$	370,485					$	384,777					$	370,485
Tangible assets						$	5,883,316					$	5,551,688					$	5,634,487					$	5,883,316					$	5,634,487
Adjustments:
Cash in excess of $300 million						(352,274)						(110,968)						(487,661)						(352,274)						(487,661)
Adjusted tangible assets						$	5,531,042					$	5,440,720					$	5,146,826					$	5,531,042					$	5,146,826
Adjusted tangible common equity						$	384,777					$	379,977					$	370,485					$	384,777					$	370,485
Adjusted tangible assets						5,531,042						5,440,720						5,146,826						5,531,042						5,146,826
Adjusted tangible common equity to adjusted tangible assets						6.96		%				6.98		%				7.20		%				6.96		%				7.20		%
Nonperforming loans to total loans						1.63		%				1.58		%				1.47		%				1.63		%				1.47		%
Adjustments:
Fully guaranteed balances						(0.49		%)				(0.51		%)				(0.29		%)				(0.49		%)				(0.29		%)
Adjusted nonperforming loans to total loans						1.14		%				1.07		%				1.18		%				1.14		%				1.18		%
Allowance for credit losses - loans to nonperforming loans						90.97		%				88.39		%				112.53		%				90.97		%				112.53		%
Adjustments:
Fully guaranteed balances						39.79		%				41.45		%				27.83		%				39.79		%				27.83		%
Adjusted allowance for credit losses - loans to nonperforming loans						130.76		%				129.84		%				140.36		%				130.76		%				140.36		%