First Internet Bancorp (FIBP.OB), Wednesday, reported a sharp increase in profit for the first quarter, mainly on higher non-interest income.
The Indianapolis, Indiana-based company reported a first-quarter net profit of $1.15 million or $0.60 per share, compared to $532 thousands or $0.28 per share last year.
Net interest income for the quarter grew to $3.93 million from $3.42 million, where as net interest income after provision for loan losses increased to $3.36 million from $2.90 million in the prior-year quarter.
For the quarter, total non-interest income soared to $2.04 million from $320 thousands in the prior-year quarter.
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by RTT Staff Writer
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