INBK reports Q3

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http://finance.yahoo.com/news/first-internet-bancorp-reports…

Highlights for the third quarter 2015 included:
• Diluted earnings per share of $0.51, increasing $0.01, or 2.0%, compared to the linked quarter and $0.23, or 82.1%, compared to the third quarter 2014
• Solid quarterly performance • Return on average assets of 0.82%
• Return on average shareholders’ equity of 9.14%
• Return on average tangible common equity of 9.58%

• Total loan growth of $62.3 million, or 7.7%, compared to June 30, 2015 and $180.6 million, or 26.0%, compared to September 30, 2014
• Continued growth in net interest income, increasing $0.3 million, or 3.5%, compared to the linked quarter and $2.2 million, or 38.2%, compared to the third quarter 2014
• Net interest margin (“NIM”) of 2.84% compared to 2.87% for the linked quarter and 2.68% for the third quarter 2014
• Solid capital levels supporting continued loan growth • Tangible common equity to tangible assets of 8.46%
• Common equity tier 1 capital ratio of 10.60%
• Tier 1 capital ratio of 10.60%
• Total risk-based capital ratio of 11.75%

• Strong asset quality • Nonperforming loans to total loans receivable totaled 0.02% as of September 30, 2015
• Net recoveries to average loans receivable of 0.07% were recognized during the third quarter

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Third quarter net income was a record $2.32 million

To keep it in perspective, I promise you there are multiple people on this board with a net worth of over $2.3 Million. This is a small company and should not be a huge part of your portfolio.

Average daily volume is 18,000 shares. Tiny!

Saul likes a company that can “grow forever”. This cannot. It may have some niches and do things well, but it will not become B of A, or Citi. In the long run it is limited, so keep up your homework as you continue to hold.

BWT: Long INBK :wink:

http://stockcharts.com/freecharts/gallery.html?inbk

Closed regular trading at 4PM around $31.94, up 3% for the day. Earnings were after hours.

Useless chart chat:
Stock peaked in Sept of 2013 around $35 then had a long and (too) deep base that really lasted until July of this year. In April we saw some strong volume moves off the bottom, then it formed a little shelf. I would call this a cup with handle formation, which you can recognize easily (in the middle chart). Right in the middle of July there was a huge pop (earnings no doubt) and a fast run up to around $40. It was too much and the stock ran out of gas. It settled into a shallow base bottoming out around $28. It has been fighting the 50dma ever since, waiting for some conviction in either directions. From a “base” perspective, this has been plenty long to setup for an “official” breakout, however, it is not in a proper position to have a breakout at the moment. You don’t breakout from the bottom of a base, you build the right side and breakout when you are near the top. When you get near the top, the weak holders sell out to “break even”, then there is no one left that really wants to sell. Then some good news comes along and, poof, there goes the breakout.

With a tiny stock like this, you can’t really have big buyers coming in. 18K shares a day x $32 is about $570K. Bill Ackman just bought $1B of Valeant, that just can’t happen here.

Just know what this stock is, it can make you good money, but its size alone makes it high on the risk scale.

blah, blah, blah.

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