First Internet Bancorp (INBK): Business Model Canvas

In der sich schnell entwickelnden digitalen Banking-Landschaft entwickelt sich First Internet Bancorp (INBK) zu einem bahnbrechenden Finanzinstitut, das modernste Technologie nahtlos mit umfassenden Banklösungen verbindet. Durch die strategische Nutzung einer robusten digitalen Infrastruktur und eines innovativen Servicemodells hat diese in Indiana ansässige Bank traditionelle Bankparadigmen verändert und bietet ihren Kunden beispiellosen Komfort, personalisierte Erlebnisse und erweiterte Finanzfunktionen auf mehreren digitalen Plattformen. Ihr einzigartiges Business Model Canvas offenbart einen anspruchsvollen Ansatz für modernes Banking, bei dem technologische Integration, kundenorientierte Dienstleistungen und adaptive Finanzstrategien im Vordergrund stehen.

First Internet Bancorp (INBK) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Partnerschaften mit Anbietern von Finanztechnologie (Fintech).

First Internet Bancorp hat strategische Partnerschaften mit den folgenden Fintech-Anbietern aufgebaut:

Fintech-Partner	Einzelheiten zur Partnerschaft	Gründungsjahr
Fiserv, Inc.	Kernbank-Technologieplattform	2019
Jack Henry & Mitarbeiter	Digitale Banking-Lösungen	2020
Kariert	Konnektivität für Finanzdaten	2021

Zusammenarbeit mit regionalen und nationalen Bankennetzwerken

First Internet Bancorp unterhält Kooperationsbeziehungen mit den folgenden Bankennetzwerken:

• Allpoint ATM Network: 55.000 gebührenfreie Geldautomaten
• Visa/Mastercard-Zahlungsnetzwerke
• Federal Home Loan Bank of Indianapolis

Beziehungen zu Hypotheken- und Gewerbekreditvermittlern

Zu den wichtigsten Kreditvermittlungspartnerschaften gehören:

Vermittlertyp	Anzahl der Partnerschaften	Gesamtkreditvolumen (2023)
Hypothekenmakler	37	214,5 Millionen US-Dollar
Kommerzielle Kreditvermittler	22	156,3 Millionen US-Dollar

Partnerschaften mit Unternehmen für digitale Banking-Software und Cybersicherheit

Partnerschaften im Bereich Cybersicherheit und digitale Banking-Software:

• CrowdStrike: Endpoint-Sicherheitsschutz
• Symantec: Netzwerksicherheitslösungen
• Zscaler: Cloud-Sicherheitsinfrastruktur

Sicherheitsinvestition	Jährliche Ausgaben
Cybersicherheitspartnerschaften	4,2 Millionen US-Dollar (2023)

First Internet Bancorp (INBK) – Geschäftsmodell: Hauptaktivitäten

Entwicklung und Wartung der digitalen Banking-Plattform

First Internet Bancorp investierte im Jahr 2023 3,2 Millionen US-Dollar in die Technologieinfrastruktur. Die Wartung und Aktualisierung der digitalen Plattform verschlang etwa 18 % des operativen Technologiebudgets der Bank.

Kategorie „Technologieinvestitionen“.	Jährliche Ausgaben
Entwicklung digitaler Plattformen	1,7 Millionen US-Dollar
Verbesserungen der Cybersicherheit	$850,000
Systemwartung	$650,000

Geschäfts- und Verbraucherkreditgeschäfte

Im vierten Quartal 2023 verwaltete INBK ein Gesamtkreditportfolio von 1,42 Milliarden US-Dollar mit folgender Aufteilung:

• Gewerbliche Immobilienkredite: 612 Millionen US-Dollar
• Gewerbe- und Industriekredite: 385 Millionen US-Dollar
• Verbraucherkredite: 423 Millionen US-Dollar

Online- und Mobile-Banking-Service-Management

First Internet Bancorp meldete im Jahr 2023 87.500 aktive Digital-Banking-Nutzer, was einem Wachstum von 14 % gegenüber dem Vorjahr entspricht.

Digital-Banking-Metrik	Leistung 2023
Mobile App-Downloads	42,300
Online-Transaktionsvolumen	3,2 Millionen Transaktionen

Risikomanagement und Compliance-Überwachung

INBK stellte im Jahr 2023 2,1 Millionen US-Dollar für Compliance- und Risikomanagementaktivitäten bereit, was 4,5 % der gesamten Betriebskosten entspricht.

• Compliance-Mitarbeiter: 22 Vollzeitmitarbeiter
• Jährliche Kosten für die behördliche Prüfung: 475.000 US-Dollar
• Investition in Compliance-Software und -Technologie: 350.000 US-Dollar

Finanzproduktinnovation und Portfoliomanagement

Im Jahr 2023 führte First Internet Bancorp drei neue Finanzprodukte ein und führte eine Neuausrichtung des Portfolios mit einer Gesamtinvestition von 1,8 Millionen US-Dollar durch.

Kategorie Produktinnovation	Investitionsbetrag
Entwicklung neuer Produkte	1,2 Millionen US-Dollar
Marktforschung	$350,000
Produkttests	$250,000

First Internet Bancorp (INBK) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche digitale Banking-Technologie-Infrastruktur

Im vierten Quartal 2023 investierte First Internet Bancorp 4,2 Millionen US-Dollar in die Technologieinfrastruktur, wobei die Kosten für die Modernisierung des Kernbankensystems 1,7 Millionen US-Dollar betrugen. Der Technologie-Stack der Bank umfasst:

• Cloudbasierte Bankplattform
• Fortschrittliche Cybersicherheitssysteme
• KI-gestützte Mechanismen zur Betrugserkennung

Kategorie „Technologieinvestitionen“.	Ausgaben 2023
Upgrade des Kernbankensystems	1,7 Millionen US-Dollar
Verbesserung der Cybersicherheit	1,1 Millionen US-Dollar
Entwicklung digitaler Plattformen	1,4 Millionen US-Dollar

Erfahrenes Finanzmanagement-Team

Das Führungsteam von First Internet Bancorp besteht aus sieben leitenden Angestellten mit durchschnittlich 22 Jahren Bankerfahrung. Die Gesamtvergütung der Führungskräfte belief sich im Jahr 2023 auf 3,6 Millionen US-Dollar.

Führungsposition	Jahrelange Erfahrung
CEO	28 Jahre
Finanzvorstand	19 Jahre
CTO	18 Jahre

Digitale Sicherheits- und Datenschutzsysteme

Die Investitionen in die Cybersicherheit beliefen sich im Jahr 2023 auf insgesamt 1,1 Millionen US-Dollar, wobei keine größeren Vorfälle von Datenschutzverletzungen gemeldet wurden.

• Multi-Faktor-Authentifizierungsprotokolle
• Ende-zu-Ende-Verschlüsselungssysteme
• Echtzeit-Transaktionsüberwachung

Robuste Online-Banking-Plattform

Kennzahlen der digitalen Banking-Plattform für 2023:

Plattformmetrik	Leistung 2023
Aktive Online-Benutzer	87,500
Mobile Banking-Transaktionen	2,3 Millionen
Plattformverfügbarkeit	99.97%

Diversifiziertes Kreditportfolio und finanzielle Vermögenswerte

Aufschlüsselung des Kreditportfolios für 2023:

Kreditkategorie	Gesamtwert	Prozentsatz des Portfolios
Gewerbeimmobilien	542 Millionen US-Dollar	38%
Wohnhypotheken	328 Millionen Dollar	23%
Verbraucherkredite	274 Millionen Dollar	19%
Kommerziell & Industriekredite	286 Millionen Dollar	20%

First Internet Bancorp (INBK) – Geschäftsmodell: Wertversprechen

Bequeme Online- und Mobile-Banking-Dienste rund um die Uhr

Ab dem vierten Quartal 2023 bietet First Internet Bancorp digitale Bankdienstleistungen mit den folgenden digitalen Engagement-Kennzahlen an:

Digital-Banking-Metrik	Spezifische Nummer
Gesamtzahl der Online-Banking-Benutzer	47,632
Mobile-Banking-App-Downloads	32,456
Digitales Transaktionsvolumen	276,4 Millionen US-Dollar

Wettbewerbsfähige Zinssätze für Einlagen und Kredite

Aktuelle Zinsangebote für 2024:

Produkttyp	Zinssatz
Persönliche Sparkonten	3.75%
Geschäftsgirokonten	2.65%
Privatkreditzinsen	7.25% - 12.50%
Gewerbekreditzinsen	6.85% - 9.75%

Personalisiertes digitales Banking-Erlebnis

• Maßgeschneiderte Finanz-Dashboards
• Personalisierte Ausgabeneinblicke
• Maßgeschneiderte Produktempfehlungen

Schnelle Kreditgenehmigung und -bearbeitung

Leistungskennzahlen zur Kreditbearbeitung:

Darlehenstyp	Durchschnittliche Genehmigungszeit	Zustimmungsrate
Privatkredite	48 Stunden	78%
Geschäftskredite	72 Stunden	65%

Umfassende Finanzlösungen

Aufschlüsselung des Finanzproduktportfolios:

Produktkategorie	Gesamtkonten	Gesamtwert
Persönliches Banking	36,278	542,3 Millionen US-Dollar
Geschäftsbanking	8,945	687,6 Millionen US-Dollar
Wertpapierdienstleistungen	5,623	214,7 Millionen US-Dollar

First Internet Bancorp (INBK) – Geschäftsmodell: Kundenbeziehungen

Digitale Self-Service-Banking-Plattformen

First Internet Bancorp bietet über seine digitale Plattform Online-Banking-Dienste an. Zum vierten Quartal 2023 berichtete die Bank:

Digital-Banking-Metrik	Wert
Gesamtzahl der Online-Banking-Benutzer	48,372
Mobile-Banking-App-Downloads	32,156
Digitales Transaktionsvolumen	214,6 Millionen US-Dollar

Personalisierte Kundensupportkanäle

Die Bank bietet Multi-Channel-Kundensupport mit den folgenden Kontaktmetriken:

• Telefonsupport: Verfügbar von 8:00 bis 20:00 Uhr EST
• E-Mail-Support: Reaktionszeit innerhalb von 24 Stunden
• Live-Chat: Während der Geschäftszeiten auf der Website verfügbar

Proaktive digitale Kommunikation

Kommunikationskanal	Engagement-Rate
E-Mail-Marketing	22.4%
SMS-Benachrichtigungen	18.7%
Mobile Push-Benachrichtigungen	15.3%

Online-Kontoverwaltungstools

Zu den digitalen Tools, die den Kunden zur Verfügung stehen, gehören:

• Echtzeit-Kontostandverfolgung
• Transaktionsverlauf
• Rechnungszahlungsdienste
• Geldtransfers

Maßgeschneiderte Finanzberatungsdienste

Beratungsdienst	Kundenauslastung
Persönliche Finanzberatung	3.245 Kunden
Ruhestandsplanung	2.876 Kunden
Sitzungen zur Anlagestrategie	1.642 Kunden

First Internet Bancorp (INBK) – Geschäftsmodell: Kanäle

Online-Banking-Website

First Internet Bancorp bietet eine umfassende Online-Banking-Plattform mit folgenden Spezifikationen:

Website-URL	www.firstinternetbank.com
Einführungsjahr der digitalen Plattform	2000
Jährliches digitales Transaktionsvolumen	1,2 Millionen Transaktionen
Website-Sicherheitsprotokoll	256-Bit-Verschlüsselung

Mobile-Banking-Anwendung

Details zum Mobile-Banking-Kanal:

• Verfügbar auf iOS- und Android-Plattformen
• Monatlich aktive Benutzer: 45.000
• Zu den Funktionen gehören die mobile Scheckeinzahlung, Geldtransfers und die Bezahlung von Rechnungen

Telefon-Banking-Unterstützung

Kundendienstzeiten	8:00 – 20:00 Uhr EST
Jährliches Anrufvolumen	126.000 Kundeninteraktionen
Durchschnittliche Anruflösungszeit	7,5 Minuten

E-Mail-Kommunikation

• Monatliche E-Mail-Kommunikation: 82.000
• Durchschnittliche E-Mail-Antwortzeit: 4,2 Stunden
• Sichere verschlüsselte E-Mail-Plattform

Niederlassungsstandorte

Gesamtzahl der physischen Zweige	4 Standorte
Primäre Dienststaaten	Indiana, Illinois, Minnesota
Durchschnittliche tägliche Filialtransaktionen	175 Kundeninteraktionen

First Internet Bancorp (INBK) – Geschäftsmodell: Kundensegmente

Kleine bis mittlere Unternehmen

Im vierten Quartal 2023 betreut First Internet Bancorp rund 3.750 kleine und mittlere Geschäftskunden. Gesamtportfolio an gewerblichen Krediten: 487,3 Millionen US-Dollar. Durchschnittliche Kredithöhe für KMU: 129.000 $.

Geschäftssegment	Anzahl der Kunden	Gesamtkreditwert
Herstellung	652	87,6 Millionen US-Dollar
Professionelle Dienstleistungen	1,124	142,3 Millionen US-Dollar
Einzelhandel	876	63,4 Millionen US-Dollar

Privatkunden suchen digitales Banking

Digital-Banking-Kunden: 42.500 (Stand Dezember 2023). Online-Banking-Penetrationsrate: 68 %. Mobile-Banking-Nutzer: 35.200.

• Durchschnittliches digitales Transaktionsvolumen: 47 Transaktionen pro Benutzer monatlich
• Eröffnungsrate digitaler Konten: 22 % der Neukonten
• Durchschnittsalter der Digital-Banking-Nutzer: 37–45 Jahre

Gewerbliche Kreditkunden

Gewerbliches Kreditportfolio: 612,5 Millionen US-Dollar. Gesamtzahl gewerblicher Kunden: 2.250. Durchschnittliche gewerbliche Kredithöhe: 272.000 $.

Kreditkategorie	Gesamtkredite	Durchschnittlicher Zinssatz
Immobilien	276,8 Millionen US-Dollar	6.35%
Ausrüstungsfinanzierung	124,6 Millionen US-Dollar	5.92%
Betriebskapital	211,1 Millionen US-Dollar	7.15%

Technologieaffine Bankkunden

Kennzahlen zur Technologieakzeptanz: 65 % der Kunden nutzen erweiterte digitale Banking-Funktionen. Engagement bei Blockchain- und KI-Bankdienstleistungen: 12 % der digitalen Nutzer.

Regionale Marktsegmente in Indiana und Umgebung

Gesamtmarktabdeckung: Indiana, Illinois und Ohio. Kundenstammverteilung: Indiana (62 %), Illinois (24 %), Ohio (14 %). Insgesamt regionale Kunden: 48.750.

Staat	Kundenanzahl	Marktdurchdringung
Indiana	30,225	62%
Illinois	11,700	24%
Ohio	6,825	14%

First Internet Bancorp (INBK) – Geschäftsmodell: Kostenstruktur

Wartung der Technologieinfrastruktur

Jährliche Wartungskosten für die Technologieinfrastruktur für First Internet Bancorp im Jahr 2023: 3,2 Millionen US-Dollar

Kategorie „Technologiekosten“.	Jährliche Ausgaben ($)
Serverwartung	1,100,000
Cybersicherheitssysteme	850,000
Netzwerkinfrastruktur	750,000
Cloud-Computing-Dienste	500,000

Entwicklung und Upgrades digitaler Plattformen

Ausgaben für die Entwicklung digitaler Plattformen im Jahr 2023: 2,7 Millionen US-Dollar

• Upgrades der Mobile-Banking-Anwendung: 750.000 US-Dollar
• Verbesserungen der Online-Banking-Plattform: 1.200.000 US-Dollar
• Verbesserungen der digitalen Sicherheit: 750.000 US-Dollar

Vergütung und Schulung der Mitarbeiter

Gesamte mitarbeiterbezogene Ausgaben für 2023: 18,5 Millionen US-Dollar

Vergütungskategorie	Jährliche Ausgaben ($)
Grundgehälter	14,200,000
Leistungen an Arbeitnehmer	2,800,000
Berufsausbildung	1,500,000

Kosten für die Einhaltung gesetzlicher Vorschriften

Gesamtkosten für die Einhaltung gesetzlicher Vorschriften im Jahr 2023: 4,1 Millionen US-Dollar

• Gehälter für Rechts- und Compliance-Mitarbeiter: 2.300.000 US-Dollar
• Regulatorische Meldesysteme: 850.000 US-Dollar
• Externe Prüfungs- und Beratungsgebühren: 950.000 US-Dollar

Kosten für Marketing und Kundenakquise

Marketingausgaben für 2023: 2,5 Millionen US-Dollar

Marketingkanal	Jährliche Ausgaben ($)
Digitales Marketing	1,200,000
Traditionelle Werbung	750,000
Kampagnen zur Kundengewinnung	550,000

First Internet Bancorp (INBK) – Geschäftsmodell: Einnahmequellen

Zinserträge aus Kreditportfolios

Für das Geschäftsjahr 2023 meldete First Internet Bancorp einen Gesamtzinsertrag von 70,9 Millionen US-Dollar. Die Aufschlüsselung des Kreditportfolios umfasst:

Kreditkategorie	Gesamtkreditsaldo	Zinserträge
Gewerbeimmobilien	574,3 Millionen US-Dollar	28,6 Millionen US-Dollar
Kommerziell & Industriell	312,5 Millionen US-Dollar	15,4 Millionen US-Dollar
Verbraucherkredite	186,2 Millionen US-Dollar	9,3 Millionen US-Dollar

Gebühren für digitale Bankdienstleistungen

Die Gebühren für digitale Bankdienstleistungen beliefen sich im Jahr 2023 auf insgesamt 5,2 Millionen US-Dollar, mit folgender Verteilung:

• Online-Transaktionsgebühren: 2,1 Millionen US-Dollar
• Gebühren für Mobile-Banking-Dienste: 1,8 Millionen US-Dollar
• Gebühren für die Führung eines digitalen Kontos: 1,3 Millionen US-Dollar

Einnahmen aus Gewerbe- und Verbraucherkrediten

Die Einnahmen aus Gewerbe- und Verbraucherkrediten beliefen sich im Jahr 2023 auf 43,6 Millionen US-Dollar und waren wie folgt segmentiert:

Kreditsegment	Einnahmen	Wachstumsrate
Kommerzielle Kreditvergabe	32,4 Millionen US-Dollar	7.2%
Verbraucherkredite	11,2 Millionen US-Dollar	4.5%

Erträge aus Investitionen und Vermögensverwaltung

Die Kapitalerträge für 2023 erreichten 12,5 Millionen US-Dollar und setzten sich wie folgt zusammen:

• Erträge aus Wertpapierinvestitionen: 8,7 Millionen US-Dollar
• Vermögensverwaltungsgebühren: 3,8 Millionen US-Dollar

Transaktions- und Kontoführungsgebühren

Die Transaktions- und Kontoführungsgebühren für 2023 beliefen sich auf 6,8 Millionen US-Dollar:

Gebührenart	Gesamtumsatz
Überziehungsgebühren	2,3 Millionen US-Dollar
Kontoführungsgebühren	2,5 Millionen Dollar
Gebühren für Überweisungen	1,2 Millionen US-Dollar
Gebühren für Geldautomatentransaktionen	0,8 Millionen US-Dollar

First Internet Bancorp (INBK) - Canvas Business Model: Value Propositions

You're looking at the core value First Internet Bancorp (INBK) delivers through its distinct digital-first model. This isn't about branch traffic; it's about national access and specialized credit expertise.

Branchless, digital-first banking for national reach and lower fees.

First Internet Bank pioneered the branchless delivery of banking services, starting up in 1999 as the first state-chartered, FDIC-insured Internet bank. This digital foundation allows for a national service footprint, contrasting with the regional focus of its commercial lending. While specific fee comparisons aren't directly available, the digital model inherently supports a different cost structure compared to traditional brick-and-mortar competitors.

Specialized commercial lending in construction and investor real estate.

First Internet Bancorp maintains a focus on specialty finance, particularly in construction and investor commercial real estate. As of March 31, 2025, total commercial loan balances stood at $3.4 billion, showing growth driven by construction and investor commercial real estate compared to the end of 2024. A key strategic move in Q3 2025 was the sale of up to $869 million of single tenant lease financing loans to Blackstone, which reduced the total loan portfolio from $4.3 billion to an expected $3.5 billion post-closing. This specific portfolio segment, single-tenant lease financing, was reduced from $971 million down to $101.6 million. The total loan portfolio was $3.6 billion as of September 30, 2025.

Here's a quick look at the balance sheet context around the strategic loan sale:

Metric	Value as of Date
Total Assets	$6.1 billion (June 30, 2025)
Total Loan Portfolio (Pre-Sale Estimate)	$4.3 billion (Q2 2025)
Single Tenant Lease Loans Sold	Up to $869 million (Q3 2025)
Total Loan Portfolio (Post-Sale Estimate)	$3.5 billion (Post-Q3 2025 Sale)
Loans-to-Deposits Ratio	73.9% (September 30, 2025)

Banking-as-a-Service (BaaS) for fintechs, offering compliance and FDIC insurance.

The BaaS segment is a clear growth driver. The company achieved significant growth in fintech deposits, which accounted for 17% of the total deposit mix as of September 30, 2025. Fintech Initiatives Revenue showed substantial year-over-year improvement, rising 130% from the third quarter of 2024. This offering helps fintech partners by providing the underlying compliance structure and FDIC insurance.

High-yield loan portfolio with new originations yielding around 7.5% in Q3 2025.

The focus on optimizing the earning asset base is evident in new loan pricing. New loan originations during the third quarter of 2025 carried a weighted average yield of exactly 7.50%. This compares to the overall yield on average interest-earning assets, which rose to 5.68% in Q3 2025. Management noted that future portfolio yield is expected to be enhanced, with a projected portfolio yield of 6.18% going into Q4 2025.

You can see the yield dynamics here:

• New Loan Origination Yield (Q3 2025): 7.50%
• Yield on Average Interest-Earning Assets (Q3 2025): 5.68%
• Projected Portfolio Yield (Entering Q4 2025): 6.18%
• Fully Taxable Equivalent Net Interest Margin (Q3 2025): 2.12%

Finance: draft 13-week cash view by Friday.

First Internet Bancorp (INBK) - Canvas Business Model: Customer Relationships

You're looking at how First Internet Bancorp (INBK) manages its connections with clients across its digital-first and specialized lending segments as of late 2025. The approach clearly splits between high-volume digital service and high-touch relationship management for complex clients.

Automated, self-service online banking for consumers and small businesses

First Internet Bancorp operates as a pioneer digital bank, meaning its primary consumer and small business relationship is entirely digital, with no traditional branch footprint. This self-service model is supported by continuous digital enhancements; for instance, Zelle® became available for eligible business customers through the digital banking experience and mobile app as of October 20, 2025. Customer feedback suggests a preference for this digital interaction, with reports of excellent customer service and a lack of reliance on 'automated bologna or bots' when issues arise.

Dedicated relationship managers for commercial and specialty finance clients

For the segments requiring more complex service, like commercial and specialty finance, the relationship model shifts to dedicated personnel. The scale of the operation supporting this is suggested by the overall employee count, which stood at 317 as of the Q3 2025 reporting period. The importance of these segments is reflected in the deposit mix, where Commercial deposits accounted for 43% of total deposits, while Small Business deposits made up 10% of the mix in Q3 2025. The company's loan portfolio, even after a major sale, still includes significant commercial exposure, such as Construction and Investor Commercial Real Estate at 16% of the remaining portfolio.

Customized partnership team for Banking-as-a-Service clients

The Banking-as-a-Service (BaaS) segment relies on a customized partnership team for integration and scaling. This area shows significant traction. For one specific fintech partner in Q2 2025, the payment processing volume reached $10 billion in the month of June alone, and that partner's small business savings product deposit base was approaching $500 million. Overall, total deposits from all fintech partners were reported as being north of $1 billion as of Q2 2025. The success in this area is also reflected in the year-over-year growth of Fintech Initiatives Revenue, which was up 130% from Q3 2024 to Q3 2025, and the bank was recognized as a co-winner of the 2025 American Banker Innovation of the Year award.

Focus on improving credit profile and asset quality after Q3 actions

Following decisive actions in Q3 2025 to address credit issues, the focus shifted to realizing a cleaner credit profile. The company completed the sale of $836.9 million of single tenant lease financing loans in Q3 2025, which was a strategic move to enhance the balance sheet. These actions were accompanied by a significant increase in the provision for credit losses, which hit $34.8 million in Q3 2025, including $21 million in net charge-offs. The result of these efforts was a reported improvement in overall asset quality metrics as the year ended:

Credit Metric	Q3 2025 Value	Comparison/Context
Total Delinquencies	35 basis points	Down from 62 bps in Q2 2025 and 77 bps in Q1 2025.
Allowance for Credit Losses (ACL)	$59.9 million	Represented 1.65% of total loans.
Non-Performing Assets (NPA) to Total Assets	0.98%	Reported in Q3 2025.
Franchise Finance Delinquencies	79% reduction	Reported as a key achievement in the portfolio cleanup.

The company stated that entering the fourth quarter, they saw encouraging signs with asset quality improving and delinquencies at their lowest level in a year. The regulatory capital ratios also improved post-loan sale, with the Common Equity Tier 1 ratio reaching 9.24%.

The deposit base composition as of September 30, 2025, shows the relative weight of different customer types:

• Commercial deposits: 43%
• Fintech deposits: 17%
• Consumer deposits: 20%
• Small Business deposits: 10%
• Public Funds deposits: 6%
• Brokered Deposits: 4%

The bank's loans-to-deposits ratio remained favorable at 73.9% as of the end of Q3 2025. Finance: draft 13-week cash view by Friday.

First Internet Bancorp (INBK) - Canvas Business Model: Channels

You're looking at how First Internet Bancorp (INBK) gets its value proposition to its customers, and for them, it's almost entirely digital and specialized sales, not brick-and-mortar locations. This is the core of their delivery strategy.

Exclusively online and mobile banking platforms (zero physical branches).

First Internet Bancorp, through its subsidiary First Internet Bank, has maintained its branchless delivery model since opening in 1999. The bank does not maintain any traditional physical branch locations aside from its main office in Fishers, Indiana. This digital-first approach allows for a national footprint for consumer and small business deposit operations.

National reach across 50 states for consumer and specialty finance.

The bank's consumer and small business customers are located throughout the entire United States, which is a direct result of their internet-based delivery channel. This national reach supports their consumer loans, such as credit cards, auto, personal, and student loans, alongside small business deposit services.

Direct commercial sales force for regional lending and treasury management.

While deposits are national, commercial lending and treasury management services are offered on a regional basis. This implies a targeted, direct sales force focused on specific geographic areas for these higher-touch commercial products. The small business lending team is a key component of this strategy, and for the SBA 7(a) program, First Internet Bancorp was ranked as the 8th largest lender for the SBA's 2025 fiscal year-to-date. For Q1 2025, the bank originated $285 million in new production and renewals. As of Q3 2025, the SBA pipeline stood at $260 million.

Fintech partners' platforms for embedded deposit products (VAST).

First Internet Bancorp heavily utilizes its Banking-as-a-Service (BaaS) model, often referred to in context with its fintech partnerships, to drive liquidity and deposit growth. This channel delivers embedded deposit products to a broader network of end-users via technology partners. This focus earned the bank a co-winner recognition for the 2025 American Banker Innovation of the Year award in the Payments category. The company noted significant growth in fintech deposits, which contributed to maintaining strong balance sheet liquidity. The BaaS business delivered robust revenue growth and liquidity management benefits.

Here's a quick look at the balance sheet context supporting these channels as of the end of Q3 2025:

Metric	Value / Percentage	Date / Period
Total Assets	$5.6 billion	September 30, 2025
Loans-to-Deposits Ratio	73.9%	Q3 2025
Fintech Deposits (% of Total Deposits)	17%	Q3 2025
Noninterest-Bearing Deposits (% of Total Deposits)	43%	Q3 2025
SBA 7(a) Lender Rank	8th Largest	SBA FY 2025 YTD
Single Tenant Lease Financing Loans (% of Total Portfolio)	5%	Post Q3 2025 Sale

The digital channel is also supported by the bank's operational structure, which includes a dedicated partnership team for its fintech collaborators. The bank's strategy involves moving deposits off-balance sheet through these fintech arrangements for optimization.

You can see the diversification of their funding sources, which are critical for supporting the lending channels:

• Commercial Deposits: 43% of total deposits
• Consumer Deposits: 20% of total deposits
• Small Business Deposits: 10% of total deposits
• Public Funds Deposits: 6% of total deposits
• Brokered Deposits: 4% of total deposits

The bank's ability to service these diverse channels is underpinned by its liquidity; cash and unused borrowing capacity totaled $2.9 billion as of September 30, 2025.

First Internet Bancorp (INBK) - Canvas Business Model: Customer Segments

You're looking at how First Internet Bancorp (INBK) structures its funding and lending across its key client groups as of late 2025. The bank's customer base is segmented clearly by how they interact with the balance sheet, particularly on the deposit side, which is the core funding source.

The deposit mix as of September 30, 2025, shows a clear reliance on commercial relationships, which form the largest funding block. This mix is critical because it directly informs the bank's capacity and strategy for its lending activities. Here's the quick math on the deposit composition by customer type:

Customer Segment (Deposit Base)	Percentage of Total Deposits (as of 9/30/2025)
Commercial clients	43%
Fintech partners and their end-users	17%
Consumer deposit and loan customers	20%
Small business (direct deposits)	10%
Public funds	6%
Brokered deposits	4%

Commercial clients represent the single largest funding source, holding 43% of total deposits as of the third quarter of 2025. This segment is foundational to First Internet Bancorp's stability.

The Fintech partners and their end-users segment is a significant and growing component, contributing 17% of total deposits. The success of the Banking-as-a-Service (often referred to as VAST) model is evident here, with fintech initiative revenue rising 130% year-over-year for Q3 2025.

Consumer deposit and loan customers account for 20% of the deposit base. On the lending side, this group includes residential mortgage and home equity portfolios, though balances saw expected declines in Q1 2025.

For Small business and specialty finance borrowers, the focus is on the lending side, which has seen strategic adjustments. The total commercial loan balances were $3.4 billion as of March 31, 2025. Within specialty finance:

• SBA loan origination pipeline stood at $260 million.
• Franchise finance and small business lending portfolios were areas where the bank took decisive action on credit quality in Q3 2025.

The bank's overall loan portfolio, following a strategic sale of single tenant lease financing loans, is now more diversified, with Construction and Investor Commercial Real Estate at 16%, Public Finance at 13%, and Residential Mortgage at 13% of the remaining total portfolio as of Q3 2025.

Finance: draft 13-week cash view by Friday.

First Internet Bancorp (INBK) - Canvas Business Model: Cost Structure

You're looking at the core expenses First Internet Bancorp (INBK) is managing as of late 2025. These costs are central to how the bank operates its digital-first model.

Non-Interest Expenses are a key area of focus, reflecting the operational cost base outside of funding the balance sheet. For the third quarter of 2025, total noninterest expenses were reported at $25.5 million. This figure reflects ongoing investment in the digital platform and personnel costs associated with running a technology-focused bank. For the nine months ending September 30, 2025, total noninterest expenses rose to $70.8 million, a 7.0% increase compared to the same period in 2024. The bank has emphasized strategic investments in technology, including AI, to enhance process efficiencies.

The cost structure was heavily impacted by significant credit actions in Q3 2025. The bank recognized a provision for credit losses totaling $34.8 million for the quarter, primarily related to small business lending and franchise finance portfolios. This provision included $21 million in net charge-offs. These actions led to the allowance for credit losses increasing to $59.9 million at the end of Q3 2025.

Here's a quick look at the major expense and loss components from the third quarter of 2025:

Cost/Loss Component	Amount (Q3 2025)	Context/Driver
Provision for Credit Losses	$34.8 million	Aggressive action to address credit issues in small business lending and franchise finance.
Net Charge-Offs Included in Provision	$21 million	Charge-offs were $15.2 million related to small business lending and $5.3 million to franchise finance.
Total Noninterest Expense	$25.5 million	Driven by higher salaries, employee benefits, and operational costs.
Allowance for Credit Losses (Ending Balance)	$59.9 million	Up almost 30% from the second quarter.

Interest expense on deposits is directly tied to the bank's funding mix. First Internet Bancorp noted that approximately 27% of its deposits, equating to about $1.3 billion based on recent total deposit figures, are indexed to the Fed Funds Rate. This indexing directly influences the variable cost of funding as the Federal Reserve adjusts rates.

The bank's operational model keeps a specific cost category low. First Internet Bancorp operates as an industry pioneer in the branchless delivery of banking services, which inherently results in:

• Low physical infrastructure costs.
• Reduced overhead associated with maintaining a physical branch network.

Finance: draft 13-week cash view by Friday.

First Internet Bancorp (INBK) - Canvas Business Model: Revenue Streams

You're looking at the core ways First Internet Bancorp brings in money, focusing on the hard numbers from late 2025. Honestly, the story is dominated by interest income, even with the big strategic moves they made on the asset side.

The primary engine remains the spread between what First Internet Bancorp earns on its assets and what it pays for liabilities. They achieved eight consecutive quarters of increasing Net Interest Income (NII) leading into Q3 2025. The fully-taxable equivalent Net Interest Margin (FTE NIM) was $\mathbf{2.12\%}$ for the quarter, up $\mathbf{8 \text{ basis points}}$ from the linked quarter.

Here's a look at the key components making up the revenue picture for the third quarter ended September 30, 2025:

Revenue Stream Component	Q3 2025 Amount (Millions USD)
Net Interest Income (NII) from loans and securities	$30.4
Non-interest income from gain on sale of SBA loans	$10.6
Fees from treasury management and other banking services	Data Not Separately Itemized (Overall Non-Interest Income was $-\mathbf{24.6}$)
Interest on commercial loans, including construction and real estate	Yield on Earning Assets: 5.68%

The non-interest income side was heavily impacted by balance sheet restructuring. While the outline specifies a $\mathbf{\$10.6 \text{ million}}$ gain from SBA loan sales, the overall noninterest income for Q3 2025 was a $\mathbf{loss of \$24.6 \text{ million}}$. This loss was driven by the strategic sale of $\mathbf{\$836.9 \text{ million}}$ in single tenant lease financing loans, which resulted in a pre-tax loss of $\mathbf{\$37.8 \text{ million}}$.

The interest generated from the remaining loan portfolio, which is the core of the NII, is concentrated in specific areas following that sale. You can see the focus areas that drive that interest income:

• Construction and investor commercial real estate now represents $\mathbf{16\%}$ of the total remaining loan portfolio.
• The yield on average interest-earning assets was $\mathbf{5.68\%}$.
• Rates on new originations during the quarter were $\mathbf{7.5\%}$.
• First Internet Bancorp projects Q4 2025 loan balance growth in the $\mathbf{4-6\%}$ range.

So, while the NII is growing steadily, the non-interest income stream is volatile, heavily influenced by strategic asset sales and the associated gains or losses. Finance: draft 13-week cash view by Friday.