INBK

Hello,

SA article on INBK

http://seekingalpha.com/article/3110466-first-internet-banco…

Not much data in addition to Anirban’s notes, but writer does indicate that future SEC 10-Q’s will require the needed interest rate sensitivity
analysis.

Mike

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Mike,

Thanks for sharing. Howe always does a thorough analysis and he’s been an INBK bull for a while … In the past, I have referred to his articles.

I found the following tidbits interesting:

INBK has a huge base of adjustable rate residential mortgage and commercial loans which are indexed to prime rate. Rising short-term rate should boost net interest margin. The company’s huge base of non-maturity deposits and any incremental optimization on cost of funds should help too. Mortgage banking business is gaining market share and should help enhancing earnings while enabling a more subdued balance sheet growth footprint.

The company already filed its 2014 10-K as an Accelerated Filer. So, hopefully, we will see some interest rate sensitivity disclosure starting on the upcoming 10-Q (coming mid May).

This is a worthwhile read for all INBK (prospective) shareholders.

Anirban

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