Cabeza Howe
Long/short equity, Growth, value, contrarian

The Long-Term Bull Case For First Internet Bancorp

First Internet Bancorp (NASDAQ:INBK) is a bank holding company that conducts business through its subsidiary First Internet Bank of Indiana (referred to as FIB hereafter), an internet-only bank that does not have branch offices but has a national footprint.

INBK commenced trading on NASDAQ on February 22, 2013. The stock performed very well until early August when it peaked at about $36. Since then it has been on a downtrend until recently. Following the precipitous fall on 3Q13 earnings release in late October, the stock has been consolidating roughly in the $20-24 trading range until Friday (March 7, 2014), when the stock seemed to have broken out to the upside.

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Collapse Of Mortgage Banking Business...

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