The Q4 2026 guidance for EPS of $1.02-$1.07 implies a sharp sequential acceleration from Q3's $0.54 GAAP EPS, driven by continued NIM expansion to 2.75%-2.80% and lower provision. Watch for the Fed rate decision in December, as guidance assumes a 25 bp hike. The trajectory of franchise finance credit quality and the pace of fintech deposit growth are key variables.
Price Chart
Executive Summary
First Internet Bancorp reported Q3 2026 GAAP diluted EPS of $0.54 and adjusted diluted EPS of $0.57, both up significantly from Q2 2026 ($0.27 GAAP, $0.27 adjusted) and from the year-ago loss of $4.76. Record quarterly revenue of $43.9 million was up 7% sequentially, driven by net interest income growth and NIM expansion to 2.47% (FTE 2.55%). Net charge-offs declined sharply to 0.82% of average loans from 1.77% in Q2 2026. The company issued Q4 2026 guidance for diluted EPS of $1.02-$1.07, well above the $0.78 consensus for Q3, and guided FTE NIM to 2.75%-2.80%.
Key Financial Metrics
Key Facts
- Record quarterly revenue of $43.9 million, up 7% from Q2 2026 and 1% from adjusted revenue in Q3 2025
- GAAP diluted EPS of $0.54 vs $0.27 in Q2 2026 and a loss of $4.76 in Q3 2025
- Adjusted diluted EPS of $0.57, up from $0.27 in Q2 2026 and a loss of $1.43 in Q3 2025
- Net interest margin expanded 8 bps to 2.47% (FTE 2.55%), up 43 bps from Q3 2025
- Net charge-offs declined to 0.82% of average loans from 1.77% in Q2 2026
- Provision for credit losses of $11.6 million, down 13% from $13.4 million in Q2 2026
- Q4 2026 guidance: diluted EPS of $1.02-$1.07, FTE NIM of 2.75%-2.80%, FTE NII around $38.5 million
- Total deposits grew 7% sequentially to $5.2 billion, with fintech deposits driving lower-cost funding
- Tangible book value per share of $40.04, down from $41.09 in Q2 2026 due to AOCI impact
Financial Impact
Q3 2026 GAAP net income of $4.8 million vs $2.4 million in Q2 2026 and a loss of $41.6 million in Q3 2025; adjusted net income of $5.1 million; record quarterly revenue of $43.9 million
Risk Factors
- Nonperforming loans rose to 1.63% of total loans from 1.58% in Q2 2026, driven by franchise finance nonaccruals including a large relationship with $2.6 million in specific reserves
- Tangible common equity to tangible assets declined to 5.94% from 6.46% in Q2 2026
- Tangible book value per share declined to $40.04 from $41.09 in Q2 2026 due to higher AOCI losses
- Guidance assumes a 25 bp Fed rate increase in December, which may not materialize
- Noninterest income guided lower to around $7.5 million in Q4 from $9.2 million in Q3, reflecting lower SBA gain on sale activity
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001562463-26-000101 |
| Document: inbk3q26investorpresenta.htm | 0001562463-26-000101 |
| Document: inbk-20261029.htm | 0001562463-26-000101 |
| Document: 0001562463-26-000101-index-headers.html | 0001562463-26-000101 |
| Document: 0001562463-26-000101-index.html | 0001562463-26-000101 |
| Document: 0001562463-26-000101.txt | 0001562463-26-000101 |
| 8-K Data (Synthetic) | 0001562463-26-000101 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | 8-K | $26.96 | awaiting T+20 | awaiting T+20 | $25.81 (−4.27%) |
Oct 13, 2026 19d ago | EFFECT | $26.09 | awaiting T+20 | awaiting T+20 | $25.81 (−1.07%) |
Oct 8, 2026 24d ago | S-4/A | $25.99 | awaiting T+20 | awaiting T+20 | $25.81 (−0.69%) |
Sep 21, 2026 5w ago | 8-K | $27.47 $25.99 | ▼ −5.38% | ▼ −4.82% | $25.81 (−6.03%) |
Jun 16, 2026 19w ago | 8-K | $25.16 $27.38 | ▲ +8.82% | ▲ +7.51% | $25.81 (+2.58%) |
US Market Status
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