First Internet Bancorp Reports Fourth Quarter and Full Year 2023 Results
On a fully-taxable equivalent basis, net interest income for the fourth quarter of 2023 was $21.0 million, compared to $18.6 million for the third quarter of 2023, and $23.1 million for the fourth quarter of 2022.
- On a fully-taxable equivalent basis, net interest income for the fourth quarter of 2023 was $21.0 million, compared to $18.6 million for the third quarter of 2023, and $23.1 million for the fourth quarter of 2022.
- Total interest income for the fourth quarter of 2023 was $66.3 million, an increase of 5.2% compared to the third quarter of 2023, and an increase of 45.1% compared to the fourth quarter of 2022.
- Net interest margin (“NIM”) was 1.58% for the fourth quarter of 2023, up from 1.39% for the third quarter of 2023 and down from 2.09% for the fourth quarter of 2022.
- Noninterest income for the fourth quarter of 2023 was $7.4 million, consistent with the third quarter of 2023, and up $1.6 million, or 27.4%, from the fourth quarter of 2022.