Financial Results Second Quarter 2022
Net 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
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