First Internet | 10-Q: FY2026 Q1 Revenue: USD 87.33 M

Revenue: As of FY2026 Q1, the actual value is USD 87.33 M.

EPS: As of FY2026 Q1, the actual value is USD 0.29, beating the estimate of USD 0.0833.

EBIT: As of FY2026 Q1, the actual value is USD -29.81 M.

Segmented Loan Balances (March 31, 2026 vs. December 31, 2025)

Commercial Loans

• Commercial and Industrial loans were $225,425 thousand as of March 31, 2026, an increase from $221,714 thousand as of December 31, 2025.
• Owner-occupied commercial real estate loans were $48,136 thousand as of March 31, 2026, down from $48,575 thousand as of December 31, 2025.
• Investor commercial real estate loans decreased to $598,933 thousand as of March 31, 2026, from $647,394 thousand as of December 31, 2025.
• Construction loans increased to $449,888 thousand as of March 31, 2026, from $372,668 thousand as of December 31, 2025.
• Single tenant lease financing was $254,044 thousand as of March 31, 2026, up from $222,925 thousand as of December 31, 2025.
• Public finance loans were $441,734 thousand as of March 31, 2026, slightly down from $442,234 thousand as of December 31, 2025.
• Healthcare finance loans decreased to $131,161 thousand as of March 31, 2026, from $139,469 thousand as of December 31, 2025.
• Small business lending totaled $433,964 thousand as of March 31, 2026 (including $59.5 million guaranteed by the U.S. government), compared to $430,024 thousand as of December 31, 2025 (including $52.2 million guaranteed by the U.S. government).
• Franchise finance loans were $389,249 thousand as of March 31, 2026, a decrease from $417,045 thousand as of December 31, 2025.
• Total commercial loans reached $2,972,534 thousand as of March 31, 2026, compared to $2,942,048 thousand as of December 31, 2025.

Consumer Loans

• Residential mortgage loans were $338,058 thousand as of March 31, 2026, down from $343,110 thousand as of December 31, 2025.
• Home equity loans were $14,219 thousand as of March 31, 2026, compared to $14,725 thousand as of December 31, 2025.
• Other consumer loans increased to $431,338 thousand as of March 31, 2026, from $425,458 thousand as of December 31, 2025.
• Total consumer loans were $783,615 thousand as of March 31, 2026, compared to $783,293 thousand as of December 31, 2025.

Overall Loan Metrics

• Total loans amounted to $3,775,870 thousand as of March 31, 2026, up from $3,746,728 thousand as of December 31, 2025.
• Allowance for credit losses was -$56,496 thousand as of March 31, 2026, compared to -$55,686 thousand as of December 31, 2025.
• Net loans were $3,719,374 thousand as of March 31, 2026, compared to $3,691,042 thousand as of December 31, 2025.

Allowance for Credit Losses (ACL) Activity (Three Months Ended March 31, 2026)

• Commercial and Industrial saw a provision of $152 thousand, charge-offs of -$202 thousand, and recoveries of $11 thousand, ending with an ACL balance of $1,903 thousand.
• Owner-occupied commercial real estate had a provision of -$8 thousand, resulting in an end balance of $256 thousand.
• Investor commercial real estate recorded a provision of $127 thousand, with an end balance of $2,382 thousand.
• Construction had a provision of $290 thousand, leading to an end balance of $2,736 thousand.
• Single tenant lease financing reported a provision of $191 thousand, resulting in an end balance of $1,007 thousand.
• Public finance had a provision of -$17 thousand, ending with a balance of $394 thousand.
• Healthcare finance showed a provision of -$199 thousand and charge-offs of -$38 thousand, with an end balance of $368 thousand.
• Small business lending incurred a provision of $7,119 thousand, charge-offs of -$9,400 thousand, and recoveries of $360 thousand, resulting in an end balance of $25,875 thousand.
• Franchise finance had a provision of $8,513 thousand, charge-offs of -$6,047 thousand, and recoveries of $64 thousand, ending with a balance of $16,558 thousand.
• Residential mortgage reported a provision of $107 thousand and charge-offs of -$80 thousand, with an end balance of $2,169 thousand.
• Home equity had a provision of -$4 thousand and recoveries of $1 thousand, resulting in an end balance of $35 thousand.
• Other consumer loans saw a provision of $335 thousand, charge-offs of -$573 thousand, and recoveries of $108 thousand, ending with a balance of $2,813 thousand.
• Total ACL activity included a provision of $16,606 thousand, charge-offs of -$16,340 thousand, and recoveries of $544 thousand, culminating in a total ACL end balance of $56,496 thousand.

Delinquency and Nonaccrual Loans (March 31, 2026)

• Total loans 30-59 days past due were $15,673 thousand.
• Total loans 60-89 days past due were $17,904 thousand.
• Total loans 90 days or more past due amounted to $43,998 thousand.
• Total past due loans were $77,575 thousand.
• Nonaccrual loans totaled $52,941 thousand.
  • Small business lending nonaccrual loans were $21,292 thousand (including $20,496 thousand with no ACL).
  • Franchise finance nonaccrual loans were $23,350 thousand (including $1,668 thousand with no ACL).
  • Residential mortgage nonaccrual loans were $4,781 thousand (all with no ACL).
  • Healthcare finance nonaccrual loans were $1,437 thousand (all with no ACL).
  • Single tenant lease financing nonaccrual loans were $1,665 thousand (all with no ACL).

Loan Modifications (Three Months Ended March 31, 2026)

• One loan modification, totaling $19 thousand, was made in the Commercial and industrial segment for borrowers experiencing financial difficulty.

Other Key Metrics (Three Months Ended March 31, 2026 vs. 2025)

• Net interest income for the three months ended March 31, 2026, was $31,598 thousand, an increase from $25,096 thousand for the same period in 2025.
• Total noninterest income was $11,518 thousand for the three months ended March 31, 2026, up from $10,427 thousand in the prior year period.
  • Loan servicing revenue increased to $2,856 thousand from $1,983 thousand.
  • Loan servicing asset revaluation was -$1,060 thousand, an improvement from -$1,181 thousand.
  • Gain on sale of loans decreased to $7,377 thousand from $8,647 thousand.
• Net cash provided by operating activities significantly increased to $75,550 thousand from $32,825 thousand.
• Net cash used in investing activities decreased to -$61,652 thousand from -$216,446 thousand.
• Net cash provided by financing activities rose to $131,130 thousand from $111,665 thousand.

Future Outlook and Strategy

No explicit outlook or guidance content was found in the provided text.