First Internet Bancorp Common Stock (INBK)

FairStock Score: 33/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a student of Graham and Buffett, I start with balance-sheet safety and consistency of earnings. First Internet Bancorp is a $227.9 million market-cap bank holding company with 354 employees, so scale and moat are modest. The filed figures show why this is a turnaround: in fiscal Q3 2025, the quarter ended 2025-09-30, net income was -$41.6 million, or -$4.76 per diluted share. That drove FY2025 net income to -$35.2 million and EPS to -$4.03, after FY2024 net income of $25.3 million and FY2023 net income of $8.4 million. The Lynch classification is TURNAROUND—loss in the latest year after earlier profits. Recent quarters show repair: fiscal Q1 2026 net income was $2.5 million, EPS $0.29; fiscal Q2 2026 net income was $2.4 million, EPS $0.27, with $39.0 million of revenue and a 6.06% margin in the provided data. But two quarters do not make a trend, and the FairStock Piotroski F-Score is only 3/9. At the 2026-10-13 close of $26.09, FairStock calculates P/B of 0.63 and P/E of -7.23; ROE is -8.34%. FairStock also reports revenue growth of 21.83% and profit growth of 999%, but the profit figure is distorted by a negative base. A sub-book price can be attractive if assets are sound and earnings normalize, but the provided data lacks CET1, net interest margin, credit costs, and reserve coverage. Without those, the discount is speculative. I would want consistent profits and better returns on equity before calling this a durable bargain.

In plain English: First Internet Bancorp is a small online bank holding company that takes deposits and makes loans. It lost money in its latest full year after several profitable years, though the last two reported quarters showed small profits. The stock sells for less than the value of its net assets on its books, which looks cheap, but the bank's weak recent returns mean that cheapness is not clearly proven.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer