First Internet Bancorp (INBK) Balance Sheet
INBK balance sheet, 2025
December 31, 2025 · U.S. dollars$5.57B assets = $5.21B liabilities + $359.8M equity
Both columns are drawn to the same scale: what INBK owns equals what it owes plus shareholders’ equity. Hover a block for its value.
INBK financial health
Descriptive bands, not a rating. Fiscal 2025.
INBK balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.85B2016 | $5.57B2025 | +13.0%/yr | |
| Total liabilities | $1.70B2016 | $5.21B2025 | +13.3%/yr | |
| Shareholders’ equity | $153.9M2016 | $359.8M2025 | +9.9%/yr | |
| Cash & short-term investments | $496.4M2016 | $1.07B2025 | +8.9%/yr | |
| Total debt | $226.6M2016 | $355.0M2025 | +5.1%/yr | |
| Net cash (debt) | $269.8M2016 | $717.3M2025 | +$447.5M | |
| Working capital | −$364.2M2016 | $1.09B2025 | +$1.5B | |
| Book value per share | $29.382016 | $41.212025 | +3.8%/yr | |
| Debt / equity | 1.472016 | 0.992025 | −0.49 | |
| Shares outstanding | 5.2M2016 | 8.7M2025 | +5.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
INBK assets
INBK liabilities and equity
INBK debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
INBK balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.07B | $879.7M | $880.8M | $646.9M | $1.05B | $917.4M | $868.2M | $670.1M | $521.3M | $496.4M |
| Cash & equivalents | $456.8M | $466.4M | $405.9M | $256.6M | $443.0M | $419.8M | $327.4M | $188.7M | $48.0M | $39.7M |
| Short-term investments | $615.5M | $413.3M | $474.9M | $390.4M | $603.0M | $497.6M | $540.9M | $481.3M | $473.3M | $456.7M |
| Receivables | $27.9M | $973.1M | $955.2M | $949.8M | $881.9M | $967.6M | $1.01B | $936.3M | $815.2M | $613.3M |
| Inventory | $0 | $0 | −$18.5M | $42,000 | −$460.2M | −$437.2M | −$348.0M | $2.6M | $5.1M | $4.6M |
| Other current assets | $0 | $0 | $18.5M | $0 | $460.2M | $437.2M | $348.0M | $0 | $0 | $0 |
| Total current assets | $1.10B | $1.85B | $1.84B | $1.60B | $1.93B | $1.89B | $1.88B | $1.61B | $1.34B | $1.11B |
| Property, plant & equipment (net) | $67.9M | $71.5M | $73.5M | $72.7M | $59.8M | $37.6M | $14.6M | $10.7M | $10.1M | $10.0M |
| Goodwill & intangible assets | $4.7M | $4.7M | $15.3M | $10.9M | $9.4M | $8.3M | $7.2M | $9.4M | $9.4M | $9.4M |
| Long-term investments | $1.03B | $837.2M | $702.0M | $579.6M | $662.6M | $565.9M | $3.60B | $3.22B | $2.15B | $1.29B |
| Other non-current assets | $3.37B | $2.97B | $2.54B | $2.28B | $1.55B | $1.75B | $0 | $0 | $0 | $0 |
| Total assets | $5.57B | $5.74B | $5.17B | $4.54B | $4.21B | $4.25B | $4.10B | $3.54B | $2.77B | $1.85B |
| Liabilities | ||||||||||
| Accounts payable | $1.7M | $2.5M | $3.8M | $2.9M | $2.0M | $1.4M | $3.8M | $1.1M | $311,000 | $112,000 |
| Short-term debt | — | $50.0M | $255.0M | $145.0M | $110.0M | $110.4M | $110.9M | $140.7M | $55.0M | $42.0M |
| Deferred revenue | — | — | −$3.8M | −$142.1M | −$108.0M | −$109.0M | −$107.1M | −$139.6M | −$54.7M | −$41.9M |
| Total current liabilities | $10.0M | $4.94B | $4.07B | $3.46B | $3.21B | $3.32B | $3.21B | $2.69B | $2.10B | $1.47B |
| Long-term debt | $355.0M | $400.1M | $719.8M | $104.5M | $104.2M | $79.6M | $69.5M | $33.9M | $36.7M | $36.6M |
| Other long-term liabilities | $4.86B | $17.9M | $14.2M | $614.9M | $514.9M | $514.9M | $514.9M | $525.2M | $410.2M | $190.0M |
| Total liabilities | $5.21B | $5.35B | $4.80B | $4.18B | $3.83B | $3.92B | $3.80B | $3.25B | $2.54B | $1.70B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $186.6M | $186.1M | $184.7M | $192.9M | $218.9M | $221.4M | $219.4M | $227.6M | $172.0M | $119.5M |
| Retained earnings (deficit) | $193.3M | $230.6M | $207.5M | $205.7M | $172.4M | $126.7M | $99.7M | $77.7M | $57.1M | $43.7M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$20.1M | −$32.7M | −$29.4M | −$33.6M | −$11.0M | −$17.2M | −$14.2M | −$16.5M | −$5.0M | −$9.3M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $359.8M | $384.1M | $362.8M | $365.0M | $380.3M | $330.9M | $304.9M | $288.7M | $224.1M | $153.9M |
| Key figures | ||||||||||
| Total debt | $355.0M | $400.1M | $719.8M | $719.5M | $619.2M | $594.5M | $584.4M | $559.0M | $446.9M | $226.6M |
| Net cash (debt) | $717.3M | $479.6M | $161.0M | −$72.5M | $426.9M | $322.9M | $283.8M | $111.0M | $74.4M | $269.8M |
| Working capital | $1.09B | −$3.08B | −$2.23B | −$1.86B | −$1.28B | −$1.44B | −$1.33B | −$1.09B | −$760.2M | −$364.2M |
| Tangible book value | $355.1M | $379.4M | $347.5M | $354.0M | $370.9M | $322.7M | $297.7M | $279.4M | $214.8M | $144.6M |
| Book value per share | $41.21 | $43.81 | $40.95 | $38.04 | $38.13 | $33.63 | $30.36 | $30.36 | $31.35 | $29.38 |
| Shares outstanding | 8.7M | 8.8M | 8.9M | 9.6M | 10.0M | 9.8M | 10.0M | 9.5M | 7.1M | 5.2M |
| Current ratio | 110.02 | 0.38 | 0.45 | 0.46 | 0.60 | 0.57 | 0.59 | 0.60 | 0.64 | 0.75 |
| Quick ratio | 110.02 | 0.38 | 0.45 | 0.46 | 0.60 | 0.57 | 0.59 | 0.60 | 0.64 | 0.75 |
| Debt / equity | 0.99 | 1.04 | 1.98 | 1.97 | 1.63 | 1.80 | 1.92 | 1.94 | 1.99 | 1.47 |
| Equity / assets | 6.5% | 6.7% | 7.0% | 8.0% | 9.0% | 7.8% | 7.4% | 8.2% | 8.1% | 8.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $8.7M | $1.22B | $1.07B | $1.26B | $925.2M | $904.8M | $879.7M | $1.29B | $885.4M | $963.7M | $880.8M | $972.0M |
| Cash & equivalents | $8.7M | $601.8M | $456.8M | $787.7M | $446.4M | $394.5M | $466.4M | $712.5M | $396.8M | $481.3M | $405.9M | $521.2M |
| Short-term investments | $786.7M | $620.3M | $615.5M | $471.0M | $478.8M | $510.3M | $413.3M | $575.3M | $488.6M | $482.4M | $474.9M | $450.8M |
| Receivables | $29.1M | $28.2M | $27.9M | $134.2M | $996.8M | $975.5M | $973.1M | $951.6M | $947.1M | $959.9M | $955.2M | $949.3M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$740.5M | −$1.34B | −$33.4M | −$947.0M | −$545.1M |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $740.5M | $1.34B | $33.4M | $947.0M | $553.4M |
| Total current assets | $37.8M | $1.25B | $1.10B | $1.39B | $1.92B | $1.88B | $1.85B | $2.24B | $1.83B | $1.92B | $1.84B | $1.93B |
| Property, plant & equipment (net) | $65.7M | $67.0M | $67.9M | $68.8M | $69.9M | $70.5M | $71.5M | $72.2M | $72.5M | $73.2M | $73.5M | $74.2M |
| Goodwill & intangible assets | $27.9M | $4.7M | $4.7M | $4.7M | $4.7M | $4.7M | $4.7M | $4.7M | $17.7M | $16.4M | $15.3M | $14.3M |
| Long-term investments | $1.05B | $1.05B | $1.03B | $887.6M | $916.4M | $958.3M | $837.2M | $838.6M | $758.9M | $718.2M | $702.0M | $682.8M |
| Other non-current assets | $4.37B | $3.34B | $3.37B | $3.29B | $3.16B | $2.94B | $2.97B | $2.67B | $2.66B | $2.61B | $2.54B | $2.47B |
| Total assets | $5.56B | $5.71B | $5.57B | $5.64B | $6.07B | $5.85B | $5.74B | $5.82B | $5.34B | $5.34B | $5.17B | $5.17B |
| Liabilities | ||||||||||||
| Accounts payable | $1.6M | $1.2M | $1.7M | $1.2M | $1.6M | $1.6M | $2.5M | $2.8M | $3.4M | $3.4M | $3.8M | $3.0M |
| Short-term debt | — | — | — | — | — | — | $50.0M | — | — | — | $255.0M | — |
| Deferred revenue | — | — | — | — | — | — | — | — | — | — | −$3.8M | — |
| Total current liabilities | $4.83B | $4.98B | $4.84B | $4.92B | $5.30B | $4.95B | $4.94B | $4.80B | $4.28B | $4.28B | $4.07B | $4.09B |
| Long-term debt | $345.1M | $345.0M | $355.0M | $354.9M | $369.8M | $500.2M | $400.1M | $620.1M | $680.0M | $679.9M | $719.8M | $719.7M |
| Other long-term liabilities | $14.7M | $22.8M | $15.4M | $15.4M | $12.1M | $16.4M | $17.9M | $17.5M | $14.0M | $16.9M | $14.2M | $15.1M |
| Total liabilities | $5.19B | $5.35B | $5.21B | $5.29B | $5.68B | $5.46B | $5.35B | $5.44B | $4.97B | $4.97B | $4.80B | $4.82B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $187.5M | $187.0M | $186.6M | $186.6M | $186.1M | $185.9M | $186.1M | $185.6M | $185.2M | $184.7M | $184.7M | $185.1M |
| Retained earnings (deficit) | $197.1M | $195.3M | $193.3M | $188.6M | $230.7M | $231.0M | $230.6M | $223.8M | $217.4M | $212.1M | $207.5M | $203.9M |
| Accumulated other comprehensive income | −$21.1M | −$21.3M | −$20.1M | −$23.0M | −$26.6M | −$29.2M | −$32.7M | −$24.3M | −$30.6M | −$30.1M | −$29.4M | −$41.2M |
| Total shareholders' equity | $363.5M | $361.0M | $359.8M | $352.2M | $390.2M | $387.7M | $384.1M | $385.1M | $372.0M | $366.7M | $362.8M | $347.7M |
| Key figures | ||||||||||||
| Total debt | $345.1M | $345.0M | $355.0M | $354.9M | $369.8M | $500.2M | $400.1M | $620.1M | $680.0M | $679.9M | $719.8M | $719.7M |
| Net cash (debt) | −$336.4M | $877.0M | $717.3M | $903.8M | $555.4M | $404.6M | $479.6M | $667.7M | $205.4M | $283.8M | $161.0M | $252.3M |
| Working capital | −$4.80B | −$3.73B | −$3.74B | −$3.52B | −$3.38B | −$3.07B | −$3.08B | −$2.56B | −$2.44B | −$2.35B | −$2.23B | −$2.16B |
| Tangible book value | $335.7M | $356.3M | $355.1M | $347.5M | $385.6M | $383.1M | $379.4M | $380.4M | $354.3M | $350.3M | $347.5M | $333.5M |
| Book value per share | $41.46 | $41.16 | $41.03 | $40.28 | $44.55 | $44.14 | $43.80 | $43.92 | $42.97 | $41.91 | $41.60 | $39.66 |
| Shares outstanding | 8.8M | 8.8M | 8.8M | 8.7M | 8.8M | 8.8M | 8.8M | 8.8M | 8.7M | 8.8M | 8.7M | 8.8M |
| Current ratio | 0.01 | 0.25 | 0.23 | 0.28 | 0.36 | 0.38 | 0.38 | 0.47 | 0.43 | 0.45 | 0.45 | 0.47 |
| Quick ratio | 0.01 | 0.25 | 0.23 | 0.28 | 0.36 | 0.38 | 0.38 | 0.47 | 0.43 | 0.45 | 0.45 | 0.47 |
| Debt / equity | 0.95 | 0.96 | 0.99 | 1.01 | 0.95 | 1.29 | 1.04 | 1.61 | 1.83 | 1.85 | 1.98 | 2.07 |
| Equity / assets | 6.5% | 6.3% | 6.5% | 6.2% | 6.4% | 6.6% | 6.7% | 6.6% | 7.0% | 6.9% | 7.0% | 6.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 11, 2026); data from EODHD.
INBK financial position
At the end of fiscal 2025 (December 31, 2025), First Internet Bancorp had total assets of $5.6 billion (down 2.9% from a year earlier), total liabilities of $5.2 billion and shareholders' equity of $359.8 million. It held $1.1 billion in cash and short-term investments against $355.0 million of debt, a net cash position of $717.3 million. Its current ratio was 110.02. In the latest quarter (ended June 30, 2026) total assets were $5.6 billion and equity $363.5 million.
Related: INBK income statement, INBK cash flow statement, INBK key metrics. See the INBK stock overview for the latest quote and news.
INBK balance sheet FAQ
What are First Internet Bancorp's total assets?
First Internet Bancorp reported total assets of $5.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $5.7 billion a year earlier.
How much debt does First Internet Bancorp have?
First Internet Bancorp had $355.0 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.99.
How much cash does First Internet Bancorp have?
First Internet Bancorp held $1.1 billion in cash and short-term investments at the end of fiscal 2025; with $355.0 million of debt that is net cash of $717.3 million.
What is First Internet Bancorp's book value?
First Internet Bancorp's shareholders' equity (book value) was $359.8 million at the end of fiscal 2025, or $41.21 per share.
What is First Internet Bancorp's current ratio?
First Internet Bancorp had current assets of $1.1 billion and current liabilities of $10.0 million, a current ratio of 110.02 (it can cover its short-term obligations).
How much goodwill does First Internet Bancorp have?
First Internet Bancorp carried $4.7 million of goodwill and intangible assets, 0.1% of total assets, at the end of fiscal 2025.