FISHERS, Ind. (AP) _ First Internet Bancorp (INBK) on Wednesday reported third-quarter net income of $8.4 million.
The bank, based in Fishers, Indiana, said it had earnings of 86 cents per share. Earnings, adjusted for asset impairment costs, came to $1.03 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The internet bank posted revenue of $45.2 million in the period. Its revenue net of interest expense was $28.7 million, which also topped Street forecasts.
First Internet shares have fallen 26% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17.59, a decrease of 22% in the last 12 months.
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