- Net income increased to $5.61 million or $2.93 per diluted share, up 76% compared with $3.19 million or $1.67 per diluted share in 2011. Net income for the fourth quarter was $1.55 million or $0.81 per diluted share, compared with $1.06 million or $0.56 per diluted share in fourth quarter 2011.
- Return on average assets increased to 0.91% from 0.59% in the prior year, and return on average equity rose to 9.56% in 2012 compared with 6.13% in 2011.
- Total assets increased to $636.37 million, compared with $585.44 million at December 31, 2011. Commercial real estate and commercial & industrial loan portfolios grew to $107.45 million compared with $45.71 million at December 31, 2011.
- Net interest income in 2012, primarily reflecting retail and commercial loan growth and lower interest expense, was $15.59 million, up 9% compared with net interest income of $14.32 million in 2011.
- Non-interest income for the year ended December 31, 2012 was $11.74 million, compared with $3.56 million for the year ended December 31, 2011.
- The company continued to build shareholder value, with tangible book value at December 31, 2012 of $29.46 per share, compared with $26.57 per share at December 31, 2011, a 10.8% increase. In the fourth quarter, the company paid a special dividend of $0.25, the first time in company history.
- The company filed a Form 10 with the SEC and applied to list its common stock on the NASDAQ Capital Market.
First Internet Bancorp Reports Record Earnings In 2012
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