First Internet Bancorp (INBK): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de la banca digital en rápida evolución, el primer Internet Bancorp (INBK) emerge como una institución financiera pionera que combina sin problemas la tecnología de vanguardia con soluciones bancarias integrales. Al aprovechar estratégicamente una robusta infraestructura digital y un modelo de servicio innovador, este banco con sede en Indiana ha transformado paradigmas bancarios tradicionales, ofreciendo a los clientes una conveniencia sin precedentes, experiencias personalizadas y capacidades financieras avanzadas en múltiples plataformas digitales. Su lienzo de modelo de negocio único revela un enfoque sofisticado para la banca moderna que prioriza la integración tecnológica, los servicios centrados en el cliente y las estrategias financieras adaptativas.

First Internet Bancorp (INBK) - Modelo de negocios: asociaciones clave

Asociaciones estratégicas con proveedores de tecnología financiera (fintech)

First Internet Bancorp ha establecido asociaciones estratégicas con los siguientes proveedores de fintech:

Socio de fintech	Detalles de la asociación	Año establecido
Fiserv, Inc.	Plataforma de tecnología bancaria central	2019
Jack Henry & Asociado	Soluciones de banca digital	2020
Tartán	Conectividad de datos financieros	2021

Colaboración con redes bancarias regionales y nacionales

First Internet Bancorp mantiene relaciones colaborativas con las siguientes redes bancarias:

• Red de Atm de Allpoint: 55,000 cajeros automáticos sin recarga
• Redes de pago de visa/mastercard
• Banco Federal de Préstamos para la Ibrazo de Indianápolis

Relaciones con intermediarios de préstamos hipotecarios y comerciales

Las asociaciones intermedias de préstamos clave incluyen:

Tipo intermediario	Número de asociaciones	Volumen total del préstamo (2023)
Corredores hipotecarios	37	$ 214.5 millones
Corredores de préstamos comerciales	22	$ 156.3 millones

Asociaciones con software de banca digital y empresas de ciberseguridad

Asociaciones de software de ciberseguridad y banca digital:

• CrowdStrike: protección de seguridad de punto final
• Symantec: soluciones de seguridad de red
• ZSCALER: Infraestructura de seguridad en la nube

Inversión de seguridad	Gasto anual
Asociaciones de ciberseguridad	$ 4.2 millones (2023)

First Internet Bancorp (INBK) - Modelo de negocio: actividades clave

Desarrollo y mantenimiento de la plataforma de banca digital

First Internet Bancorp invirtió $ 3.2 millones en infraestructura tecnológica en 2023. El mantenimiento y las actualizaciones de la plataforma digital consumieron aproximadamente el 18% del presupuesto de tecnología operativa del banco.

Categoría de inversión tecnológica	Gasto anual
Desarrollo de plataforma digital	$ 1.7 millones
Mejoras de ciberseguridad	$850,000
Mantenimiento del sistema	$650,000

Operaciones de préstamos comerciales y de consumo

A partir del cuarto trimestre de 2023, INBK administró una cartera de préstamos total de $ 1.42 mil millones, con el siguiente desglose:

• Préstamos inmobiliarios comerciales: $ 612 millones
• Préstamos comerciales e industriales: $ 385 millones
• Préstamos al consumo: $ 423 millones

Gestión de servicios de banca en línea y móvil

First Internet Bancorp informó 87,500 usuarios activos de banca digital en 2023, lo que representa un crecimiento año tras año del 14%.

Métrica de banca digital	2023 rendimiento
Descargas de aplicaciones móviles	42,300
Volumen de transacciones en línea	3.2 millones de transacciones

Gestión de riesgos y monitoreo de cumplimiento

INBK asignó $ 2.1 millones a actividades de cumplimiento y gestión de riesgos en 2023, lo que representa el 4.5% de los gastos operativos totales.

• Personal de cumplimiento: 22 empleados a tiempo completo
• Costos de auditoría regulatoria anual: $ 475,000
• Software de cumplimiento e inversión tecnológica: $ 350,000

Innovación de productos financieros y gestión de cartera

En 2023, First Internet Bancorp introdujo 3 nuevos productos financieros y realizó reequilibrio de cartera con una inversión total de $ 1.8 millones.

Categoría de innovación de productos	Monto de la inversión
Desarrollo de nuevos productos	$ 1.2 millones
Investigación de mercado	$350,000
Prueba de productos	$250,000

First Internet Bancorp (INBK) - Modelo de negocio: recursos clave

Infraestructura avanzada de tecnología de banca digital

A partir del cuarto trimestre de 2023, First Internet Bancorp invirtió $ 4.2 millones en infraestructura tecnológica, con un costo de actualización del sistema bancario central de $ 1.7 millones. La pila de tecnología del banco incluye:

• Plataforma bancaria basada en la nube
• Sistemas avanzados de ciberseguridad
• Mecanismos de detección de fraude con IA

Categoría de inversión tecnológica	2023 Gastos
Actualización del sistema bancario central	$ 1.7 millones
Mejora de la ciberseguridad	$ 1.1 millones
Desarrollo de plataforma digital	$ 1.4 millones

Equipo experimentado de gestión financiera

El equipo de liderazgo de First Internet Bancorp comprende 7 ejecutivos senior con un promedio de 22 años de experiencia bancaria. La compensación ejecutiva total para 2023 fue de $ 3.6 millones.

Posición de liderazgo	Años de experiencia
CEO	28 años
director de Finanzas	19 años
CTO	18 años

Sistemas de seguridad y protección de datos digitales

La inversión de ciberseguridad en 2023 totalizó $ 1.1 millones, con cero incidentes principales de violación de datos reportados.

• Protocolos de autenticación multifactor
• Sistemas de cifrado de extremo a extremo
• Monitoreo de transacciones en tiempo real

Plataforma de banca en línea robusta

Métricas de plataforma de banca digital para 2023:

Métrica de plataforma	2023 rendimiento
Usuarios en línea activos	87,500
Transacciones bancarias móviles	2.3 millones
Tiempo de actividad de la plataforma	99.97%

Cartera de préstamos diversificados y activos financieros

Desglose de la cartera de préstamos para 2023:

Categoría de préstamo	Valor total	Porcentaje de cartera
Inmobiliario comercial	$ 542 millones	38%
Hipotecas residenciales	$ 328 millones	23%
Préstamos al consumo	$ 274 millones	19%
Comercial & Préstamos industriales	$ 286 millones	20%

First Internet Bancorp (INBK) - Modelo de negocio: propuestas de valor

Convenientes servicios de banca en línea y móvil 24/7

A partir del cuarto trimestre de 2023, First Internet Bancorp ofrece servicios de banca digital con las siguientes métricas de participación digital:

Métrica de banca digital	Número específico
Usuarios bancarios totales en línea	47,632
Descargas de aplicaciones de banca móvil	32,456
Volumen de transacción digital	$ 276.4 millones

Tasas de interés competitivas sobre depósitos y préstamos

Ofertas de tasas de interés actuales para 2024:

Tipo de producto	Tasa de interés
Cuentas de ahorro personal	3.75%
Cuentas corrientes de negocios	2.65%
Tasas de préstamo personal	7.25% - 12.50%
Tasas de préstamo comerciales	6.85% - 9.75%

Experiencia bancaria digital personalizada

• Paneles financieros personalizados
• Información de gasto personalizado
• Recomendaciones de productos a medida

Aprobación y procesamiento de préstamos rápidos

Procesamiento de préstamos Métricas de rendimiento:

Tipo de préstamo	Tiempo de aprobación promedio	Tasa de aprobación
Préstamos personales	48 horas	78%
Préstamos comerciales	72 horas	65%

Soluciones financieras integrales

Desglose de la cartera de productos financieros:

Categoría de productos	Cuentas totales	Valor total
Banca personal	36,278	$ 542.3 millones
Banca de negocios	8,945	$ 687.6 millones
Servicios de inversión	5,623	$ 214.7 millones

First Internet Bancorp (INBK) - Modelo de negocios: relaciones con los clientes

Plataformas de banca de autoservicio digital

First Internet Bancorp ofrece servicios bancarios en línea a través de su plataforma digital. A partir del cuarto trimestre de 2023, el banco informó:

Métrica de banca digital	Valor
Usuarios bancarios totales en línea	48,372
Descargas de aplicaciones de banca móvil	32,156
Volumen de transacción digital	$ 214.6 millones

Canales de atención al cliente personalizados

El banco proporciona atención al cliente multicanal con las siguientes métricas de contacto:

• Soporte telefónico: disponible de 8 am a 8pm EST
• Soporte por correo electrónico: tiempo de respuesta dentro de las 24 horas
• Chat en vivo: disponible en el sitio web durante el horario comercial

Comunicación digital proactiva

Canal de comunicación	Tasa de compromiso
Marketing por correo electrónico	22.4%
Notificaciones de SMS	18.7%
Notificaciones de push móviles	15.3%

Herramientas de gestión de cuentas en línea

Las herramientas digitales disponibles para los clientes incluyen:

• Seguimiento de saldo en tiempo real
• Historial de transacciones
• Servicios de pago de facturas
• Transferencias de fondos

Servicios de asesoramiento financiero a medida

Servicio de asesoramiento	Utilización del cliente
Consulta financiera personal	3.245 clientes
Planificación de jubilación	2.876 clientes
Sesiones de estrategia de inversión	1.642 clientes

First Internet Bancorp (INBK) - Modelo de negocio: canales

Sitio web de banca en línea

First Internet Bancorp ofrece una plataforma de banca en línea integral con las siguientes especificaciones:

URL del sitio web	www.firstinternetbank.com
Año de lanzamiento de la plataforma digital	2000
Volumen anual de transacción digital	1,2 millones de transacciones
Protocolo de seguridad del sitio web	Cifrado de 256 bits

Aplicación de banca móvil

Detalles del canal de banca móvil:

• Disponible en plataformas iOS y Android
• Usuarios activos mensuales: 45,000
• Las características incluyen depósito de cheques móviles, transferencias de fondos, pago de facturas

Soporte de banca telefónica

Horario de servicio al cliente	8:00 am - 8:00 pm EST
Volumen de llamadas anual	126,000 interacciones con los clientes
Tiempo de resolución de llamadas promedio	7.5 minutos

Comunicación por correo electrónico

• Comunicaciones mensuales por correo electrónico: 82,000
• Tiempo promedio de respuesta por correo electrónico: 4.2 horas
• Plataforma de correo electrónico cifrada segura

Ubicaciones de ramas

Ramas físicas totales	4 ubicaciones
Estados de servicio primarios	Indiana, Illinois, Minnesota
Transacciones promedio de ramas diarias	175 Interacciones del cliente

First Internet Bancorp (INBK) - Modelo de negocio: segmentos de clientes

Empresas pequeñas a medianas

A partir del cuarto trimestre de 2023, First Internet Bancorp atiende a aproximadamente 3.750 clientes comerciales pequeños a medianos. Cartera total de préstamos comerciales: $ 487.3 millones. Tamaño promedio del préstamo para las PYME: $ 129,000.

Segmento de negocios	Número de clientes	Valor total del préstamo
Fabricación	652	$ 87.6 millones
Servicios profesionales	1,124	$ 142.3 millones
Minorista	876	$ 63.4 millones

Consumidores individuales que buscan banca digital

Clientes de banca digital: 42,500 a diciembre de 2023. Tasa de penetración bancaria en línea: 68%. Usuarios de banca móvil: 35,200.

• Volumen de transacción digital promedio: 47 transacciones por usuario mensualmente
• Tasa de apertura de cuenta digital: 22% de las cuentas nuevas
• Edad del usuario promedio de la banca digital: 37-45 años

Clientes de préstamos comerciales

Portafolio de préstamos comerciales: $ 612.5 millones. Total de clientes comerciales: 2,250. Tamaño promedio del préstamo comercial: $ 272,000.

Categoría de préstamo	Préstamos totales	Tasa de interés promedio
Bienes raíces	$ 276.8 millones	6.35%
Financiación de equipos	$ 124.6 millones	5.92%
Capital de explotación	$ 211.1 millones	7.15%

Clientes bancarios expertos en tecnología

Métricas de adopción de tecnología: el 65% de los clientes utilizan funciones avanzadas de banca digital. BLOCKchain y AI Banking Services Engagement: 12% de los usuarios digitales.

Segmentos de mercado regionales en Indiana y sus alrededores

Cobertura total del mercado: Indiana, Illinois y Ohio. Distribución de la base de clientes: Indiana (62%), Illinois (24%), Ohio (14%). Total de clientes regionales: 48,750.

Estado	Conteo de clientes	Penetración del mercado
Indiana	30,225	62%
Illinois	11,700	24%
Ohio	6,825	14%

Primer Internet Bancorp (INBK) - Modelo de negocio: Estructura de costos

Mantenimiento de la infraestructura tecnológica

Costos de mantenimiento de infraestructura de tecnología anual para First Internet Bancorp en 2023: $ 3.2 millones

Categoría de costos tecnológicos	Gasto anual ($)
Mantenimiento del servidor	1,100,000
Sistemas de ciberseguridad	850,000
Infraestructura de red	750,000
Servicios de computación en la nube	500,000

Desarrollo y actualizaciones de la plataforma digital

Gastos de desarrollo de la plataforma digital en 2023: $ 2.7 millones

• Actualizaciones de aplicaciones de banca móvil: $ 750,000
• Mejoras de la plataforma bancaria en línea: $ 1,200,000
• Mejoras de seguridad digital: $ 750,000

Compensación y capacitación de empleados

Gastos totales relacionados con los empleados para 2023: $ 18.5 millones

Categoría de compensación	Gasto anual ($)
Salarios base	14,200,000
Beneficios para empleados	2,800,000
Capacitación profesional	1,500,000

Gastos de cumplimiento regulatorio

Costos de cumplimiento regulatorio total en 2023: $ 4.1 millones

• Salarios del personal legal y de cumplimiento: $ 2,300,000
• Sistemas de informes regulatorios: $ 850,000
• Tarifas de auditoría y consultoría externa: $ 950,000

Costos de marketing y adquisición de clientes

Gastos de marketing para 2023: $ 2.5 millones

Canal de marketing	Gasto anual ($)
Marketing digital	1,200,000
Publicidad tradicional	750,000
Campañas de adquisición de clientes	550,000

First Internet Bancorp (INBK) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de las carteras de préstamos

Para el año fiscal 2023, First Internet Bancorp informó ingresos por intereses totales de $ 70.9 millones. El desglose de la cartera de préstamos incluye:

Categoría de préstamo	Saldo total del préstamo	Ingresos por intereses
Inmobiliario comercial	$ 574.3 millones	$ 28.6 millones
Comercial & Industrial	$ 312.5 millones	$ 15.4 millones
Préstamos al consumo	$ 186.2 millones	$ 9.3 millones

Tarifas de servicio bancario digital

Las tarifas de servicio bancario digital para 2023 totalizaron $ 5.2 millones, con la siguiente distribución:

• Tarifas de transacción en línea: $ 2.1 millones
• Cargos de servicio bancario móvil: $ 1.8 millones
• Tarifas de mantenimiento de la cuenta digital: $ 1.3 millones

Ingresos de préstamos comerciales y de consumo

Los ingresos de préstamos comerciales y de consumo para 2023 fueron de $ 43.6 millones, segmentados de la siguiente manera:

Segmento de préstamos	Ganancia	Índice de crecimiento
Préstamo comercial	$ 32.4 millones	7.2%
Préstamo de consumo	$ 11.2 millones	4.5%

Ingresos de inversión y gestión de activos

Los ingresos por inversiones para 2023 alcanzaron los $ 12.5 millones, con la siguiente composición:

• Retorno de la inversión de valores: $ 8.7 millones
• Tarifas de gestión de activos: $ 3.8 millones

Tarifas de mantenimiento de transacción y cuenta

Las tarifas de transacción y mantenimiento de la cuenta para 2023 ascendieron a $ 6.8 millones:

Tipo de tarifa	Ingresos totales
Tarifas de sobregiro	$ 2.3 millones
Tarifas de mantenimiento de la cuenta	$ 2.5 millones
Tarifas de transferencia de cables	$ 1.2 millones
Tarifas de transacción de cajeros automáticos	$ 0.8 millones

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.