Revenue Update on First Internet Bancorp(NASDAQ:INBK)

First Internet Bancorp(NASDAQ:INBK) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 21, 2016. Earnings per share were $0.57. Analysts had estimated an EPS of $0.65.

First Internet Bancorp (INBK) shares turned negative on Wednesdays trading session with the shares closing down -0.33 points or -1.31% at a volume of 29,468. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $25.27. The peak price level was also seen at $25.27 while the days lowest was $24.6. Finally the shares closed at $24.94. The 52-week high of the shares is $39.764 while the 52-week low is $22.01. According to the latest information available, the market cap of the company is $112 M.

Several Insider Transactions has been reported to the SEC. On Jun 1, 2016, David B Becker (CEO) purchased 5,000 shares at $25.73 per share price.Also, On Feb 2, 2015, Jerry L. Williams (director) purchased 1,000 shares at $15.88 per share price.On Jan 29, 2015, Ralph R Jr Whitney (director) purchased 1,000 shares at $16.00 per share price, according to the Form-4 filing with the securities and exchange commission.

First Internet Bancorp is a bank holding company that conducts its business activities through its wholly owned subsidiary First Internet Bank of Indiana an Indiana chartered bank (the Bank). The Company offers a complement of products and services on a nationwide basis. The Company conducts its deposit operations primarily over the Internet. The Company also offers commercial real estate (CRE) lending including nationwide single tenant lease financing and commercial and industrial (C&I) lending including asset-based lending and business banking/treasury management services to meet the needs of commercial borrowers and depositors. At December 31 2014 CRE and C&I loans comprised 48.3% of loans receivable. The Bank’s wholly owned subsidiary JKH Realty Services LLC manage real estate owned properties. As of December 31 2014 the Bank’s total deposits were $758.6 million.

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