First Internet Bank Valuation Multiples

First Internet Bank Overview

About First Internet Bank

First Internet Bancorp is a bank holding company. Through its subsidiaries, it provides commercial real estate (CRE) lending, including nationwide single tenant lease financing and commercial and industrial (C&I) lending, including business banking or treasury management services. The company offers its products and services through the internet and does not have any branches. With operations organized into a single segment called the Commercial Banking segment, it also provides retail banking services.

Founded

2005

HQ

Employees

326

Website

firstinternetbancorp.com

Sectors

Neobanking
Commercial Banking
FinTech

Financials

LTM Revenue $143M

Last FY EBITDA n/a

EV

$711M

Valuation Multiples

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First Internet Bank Financials

First Internet Bank has a last 12-month revenue (LTM) of $143M and a last 12-month EBITDA of n/a.

In the most recent fiscal year, First Internet Bank achieved revenue of $129M and an EBITDA of n/a.

First Internet Bank expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

First Internet Bank P&L

Financial data powered by Morningstar, Inc.

First Internet Bank Stock Performance

As of May 30, 2025, First Internet Bank's stock price is $24.

First Internet Bank has current market cap of $211M, and EV of $711M.

First Internet Bank Stock Data

First Internet Bank Valuation Multiples

As of May 30, 2025, First Internet Bank has market cap of $211M and EV of $711M.

First Internet Bank's trades at 5.5x EV/Revenue multiple, and n/a EV/EBITDA.

Equity research analysts estimate First Internet Bank's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

First Internet Bank has a P/E ratio of 8.5x.

First Internet Bank Financial Valuation Multiples

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

First Internet Bank Margins & Growth Rates

First Internet Bank's last 12 month revenue growth is 21%

First Internet Bank's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged n/a for the same period.

First Internet Bank's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

First Internet Bank's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

First Internet Bank Operational Valuation Multiples

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

First Internet Bank Public Comps

Valuation data powered by FactSet, Inc.

First Internet Bank M&A and Investment Activity

First Internet Bank acquired  XXX companies to date.

Last acquisition by First Internet Bank was  XXXXXXXX, XXXXX XXXXX XXXXXX . First Internet Bank acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

Latest Acquisitions by First Internet Bank

About First Internet Bank