#1FIRST INTERNET BAN Financial Results Second Quarter 2022 22 8 e: UNKH NOTE IS LEGAL TENDER EATS, PUBLIC AND PRIVA L ORSE TELO#2Forward-Looking Statements & Non-GAAP Financial Measures This presentation contains forward-looking statements, including statements with respect to the financial condition, results of operations, trends in lending policies and loan programs, plans and prospective business partnerships, objectives, future performance and business of the Company. Forward-looking statements are generally identifiable by the use of words such as "ahead," "anticipate," "believe," "capitalize," "confidence in," "continue," "could," "designed," "effort," "estimate," "expect," "growth," "help," "hope," "intend," "looking forward," "may," "opportunities," "optimistic," "pending," "plan," "position," "preliminary," "remain," "should," "waiting on," "well-positioned," "will," "working on," "would" or other similar expressions. Forward-looking statements are not a guarantee of future performance or results, are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the information in the forward-looking statements. Such statements are subject to certain risks and uncertainties including: the effects of the COVID-19 global pandemic and other adverse public health developments on the economy, our business and operations and the business and operations of our vendors and customers: general economic conditions, whether national or regional, and conditions in the lending markets in which we participate that may have an adverse effect on the demand for our loans and other products; our credit quality and related levels of nonperforming assets and loan losses, and the value and salability of the real estate that we own or that is the collateral for our loans. Other factors that may cause such differences include: failures or breaches of or interruptions in the communications and information systems on which we rely to conduct our business; failure of our plans to grow our commercial real estate, commercial and industrial, public finance, SBA, healthcare finance and franchise finance loan portfolios; competition with national, regional and community financial institutions; the loss of any key members of senior management; execution of pending and future acquisition, reorganization or disposition transactions, including without limitation, the related time and costs of implementing such transactions, integrating operations as part of these transactions and possible failures to achieve expected gains, revenue growth and/or expense savings and other anticipated benefits from such transactions; fluctuations in interest rates; risks relating to the regulation of financial institutions; and other factors identified in reports we file with the U.S. Securities and Exchange Commission. All statements in this presentation, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events. This presentation contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles ("GAAP"). Non-GAAP financial measures, specifically tangible common equity, tangible assets, tangible book value per common share, tangible common equity to tangible assets, average tangible common equity, return on average tangible common equity, total interest income - FTE, adjusted total interest income - FTE, net interest income - FTE, adjusted net interest income, adjusted net interest income - FTE, net interest margin - FTE, adjusted net interest margin, adjusted net interest margin - FTE, provision (benefit) for loan losses, excluding tax refund advance loans, average loans, excluding tax refund advance loans, net charge-offs (recoveries) to average loans, excluding tax refund advance loans, allowance for loan losses to loans, excluding PPP loans, adjusted noninterest income, adjusted noninterest expense, adjusted noninterest expense to average assets, adjusted income before income taxes, adjusted income tax provision, adjusted net income, adjusted diluted earnings per share, adjusted return on average assets, adjusted return on average shareholders' equity, adjusted return on average tangible common equity, adjusted effective income tax rate, income before income taxes, excluding tax refund advance loans, income tax provision, excluding tax refund advance loans and net income, excluding tax refund advance loans are used by the Company's management to measure the strength of its capital and analyze profitability, including its ability to generate earnings on tangible capital invested by its shareholders. Although management believes these non-GAAP measures are useful to investors by providing a greater understanding of its business, they should not be considered a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non- GAAP performance measures that may be presented by other companies. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the table at the end of this presentation under the caption "Reconciliation of Non-GAAP Financial Measures." OTO 22 2 FIRST INTERNET BANCOR P U 2:#3Second Quarter 2022 Highlights 1 Earnings Key Operating Trends Loans and Deposits Profitability and Capital ■ ▪ Diluted EPS of $0.99; adjusted diluted EPS of $1.06¹ ▪ Net income of $9.5 million; adjusted net income of $10.3 million ¹ ▪ Total revenue of $30.0 million ■ ▪ NIM of 2.60% and FTE NIM of 2.74%, increases of 4 bps & 5 bps, respectively, from 1Q22¹ ■ Cost of interest-bearing deposits increased 4 bps from 1Q22 to 0.85% ▪ SBA loan sales contributed $2.0 million of fee revenue ▪ Asset quality remained strong with NPAs to total assets of 0.10% ▪ ROAA of 0.93%, ROAE of 10.23% and ROATCE of 10.36%¹ Adjusted ROAA of 1.00%¹, adj. ROAE of 11.01%¹ and adj. ROATCE of 11.15%1 ▪ TCE / TA increased to 8.81¹%; regulatory capital ratios remained strong Repurchased 294,464 common shares under authorized repurchase program ▪ Total portfolio loan balances grew by 7.0% from 1Q22 Most commercial and consumer lines experienced growth in 2Q22 ▪ Total non-maturity deposit balances increased 2.6% from 1Q22 while CD and brokered deposit balances decreased 10.2% See Reconciliation of Non-GAAP Financial Measures in the Appendix 22 2 FIRST INTERNET BANCOR P V 3#4#5#6Net Interest Income and Net Interest Margin ■ Net interest income on both a GAAP and FTE basis were stable with 1Q22 results Deployment of cash into loan growth combined with higher yields on securities and cash offset the decline in income from tax refund advance loans ■ Increase in interest expense on deposits partially offset by a decline in expense related to other borrowed funds Yield on Loans and Cost of Interest-Bearing Deposits 1 2 4.10% 0.99% 2Q21 4.04% 0.90% 3Q21 Yield on loans 4.26% 0.84% 4Q21 4.52% 0.81% 1Q22 Cost of interest-bearing deposits 4.31% 0.85% 2Q22 Net Interest Income - GAAP and FTE¹ Dollars in millions $23.0 $21.6 See Reconciliation of Non-GAAP Financial Measures in the Appendix 3Q21 FTE Net Interest Income and FTE NIM exclude the impact of $0.8 million in subordinated debt redemption costs 2Q21 2.25% 2.11% $23.1 2Q21 $20.9 3Q21 Net Interest Margin- GAAP and FTE¹ 2.21% 2 2 2.00% 3Q21 $24.9 $23.5 4Q21 GAAP 2.43% 2.30% 4Q21 ☐FTE GAAP ☐FTE 2 28 $27.1 $25.8 1Q22 2.69% 2.56% 1Q22 $27.1 $25.7 2Q22 2.74% 2.60% 2Q22 FIRST INTERNET BANCOR P U6#7#8Noninterest Income ■ Noninterest income of $4.3 million, compared to $6.8 million in 1Q22 and $9.0 million in 2Q21 ▪ Gain on sale of loans of $2.0 million, compared to $3.8 million in 1Q22 and $3.0 million in 2Q21 - SBA gain on sale impacted by timing of loan sales and decline in gain on sale premiums; pipeline for 2H22 is solid Mortgage banking revenue of $1.7 million, compared to $1.9 million in 1Q22 Interest rate lock and sold loan volumes impacted by rise in interest rates Evaluating opportunities to expand origination channels Noninterest Income Dollars in millions 1 $9.0¹ $6.4 ■Core 2Q21 $7.8 Gain on sale of premises and equipment 3Q21 $7.7 OG $6.8 Service charges and fees ■Mortgage banking activities Noninterest income includes a $2.5 million gain on sale of premises and equipment; see Reconciliation of Non-GAAP Financial Measures in the Appendix 4Q21 $4.3 1Q22 Noninterest Income 2Q22 2Q22 Dollars in millions $0.2 $0.3 $0.2 $1.7 $1.9 ■Net loan servicing revenue ■ Other 22 2 Gain on sale of loans FIRST INTERNET BANCOR P V 8:1#9Noninterest Expense ▪ Noninterest expense of $18.0 million, compared to $18.8 million in 1Q22 Higher salaries and employee benefits driven by $0.8 million of nonrecurring items Professional fees lower due to nonrecurring consulting fees of $0.9 million incurred in 1Q22 Professional fees also included $0.1 million of acquisition-related expense vs. $0.2 million in 1Q22 Lower loan expenses due to $0.9 million decline in tax refund advance loan servicing fees ▪ Noninterest expense / average assets remained well below the industry average Noninterest Expense Dollars in millions $15.1 1 2 $14.5 2Q21 Core Non-core items $17.0 $16.3 1 $18.8 $17.7 2 $18.0³ $17.1 Noninterest Expense / Average Assets 2Q22 1.44% 1.34% 2Q21 ■Core Non-core items 3Q21 4Q21 1Q22 4Q21 noninterest expense includes a $0.5 million IT contract termination fee and $0.2 million of acquisition-related expenses; see Reconciliation of Non-GAAP Financial Measures in the Appendix 1Q22 noninterest expense includes $0.9 million of nonrecurring consulting fees and $0.2 million of acquisition-related expenses 3 2Q22 noninterest expense includes a $0.5 million discretionary inflation bonus, $0.3 million of accelerated equity compensation and $0.1 million of acquisition-related expenses 3Q21 1.61%¹ 1.55% 4Q21 2 1.81%² g 1.71% 1Q22 1.76% 3 1.67% 2Q22 FIRST INTERNET BANCOR P U 9:#10#11#12#13#14#15#16#17#18#19#20#21#22#23#24#25#26#27#28#29#30#31