XML 68 R27.htm IDEA: XBRL DOCUMENT
v3.20.1

Securities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract] |
Schedule of Available-for-sale Securities Reconciliation | The following tables summarize securities available-for-sale and securities held-to-maturity as of March 31, 2020 and December 31, 2019.
|  | March 31, 2020
|  | Amortized |  | Gross Unrealized |  | Fair
(in thousands) |  | Cost |  | Gains |  | Losses |  | Value
Securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government-sponsored agencies |  | $ | 71,387 |  |  | $ | 438 |  |  | $ | (1,821 | ) |  | $ | 70,004 |
Municipal securities |  | 94,981 |  |  | 4,049 |  |  | (4,211 | ) |  | 94,819 |
Agency mortgage-backed securities |  | 279,458 |  |  | 6,901 |  |  | (3,727 | ) |  | 282,632 |
Private label mortgage-backed securities |  | 114,363 |  |  | 813 |  |  | (152 | ) |  | 115,024 |
Asset-backed securities |  | 5,000 |  |  | — |  |  | (287 | ) |  | 4,713 |
Corporate securities |  | 43,378 |  |  | 322 |  |  | (2,210 | ) |  | 41,490 |
Total available-for-sale |  | $ | 608,567 |  |  | $ | 12,523 |  |  | $ | (12,408 | ) |  | $ | 608,682 |
Schedule Of Held-To-Maturity Securities Reconciliation |
|  | December 31, 2019
|  | Amortized |  | Gross Unrealized |  | Fair
(in thousands) |  | Cost |  | Gains |  | Losses |  | Value
Securities held-to-maturity |  |  |  |  |  |  |  |  |  |  |  |
Municipal securities |  | $ | 10,142 |  |  | $ | 226 |  |  | $ | — |  |  | $ | 10,368 |
Corporate securities |  | 51,736 |  |  | 588 |  |  | (132 | ) |  | 52,192 |
Total held-to-maturity |  | $ | 61,878 |  |  | $ | 814 |  |  | $ | (132 | ) |  | $ | 62,560 |
|  | March 31, 2020
|  | Amortized |  | Gross Unrealized |  | Fair
(in thousands) |  | Cost |  | Gains |  | Losses |  | Value
Securities held-to-maturity |  |  |  |  |  |  |  |  |  |  |  |
Municipal securities |  | $ | 14,617 |  |  | $ | 1,061 |  |  | $ | — |  |  | $ | 15,678 |
Corporate securities |  | 51,714 |  |  | 2,262 |  |  | (186 | ) |  | 53,790 |
Total held-to-maturity |  | $ | 66,331 |  |  | $ | 3,323 |  |  | $ | (186 | ) |  | $ | 69,468 |
|  | December 31, 2019
|  | Amortized |  | Gross Unrealized |  | Fair
(in thousands) |  | Cost |  | Gains |  | Losses |  | Value
Securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government-sponsored agencies |  | $ | 77,715 |  |  | $ | 99 |  |  | $ | (1,942 | ) |  | $ | 75,872 |
Municipal securities |  | 97,447 |  |  | 1,706 |  |  | (1,501 | ) |  | 97,652 |
Agency mortgage-backed securities |  | 264,142 |  |  | 1,304 |  |  | (4,006 | ) |  | 261,440 |
Private label mortgage-backed securities |  | 63,704 |  |  | 97 |  |  | (188 | ) |  | 63,613 |
Asset-backed securities |  | 5,000 |  |  | — |  |  | (45 | ) |  | 4,955 |
Corporate securities |  | 38,632 |  |  | 220 |  |  | (1,532 | ) |  | 37,320 |
Total available-for-sale |  | $ | 546,640 |  |  | $ | 3,426 |  |  | $ | (9,214 | ) |  | $ | 540,852 |
Schedule of Classification of Available for Sale Securities Investment | The following tables summarize securities available-for-sale and securities held-to-maturity as of March 31, 2020 and December 31, 2019.
|  | March 31, 2020
|  | Amortized |  | Gross Unrealized |  | Fair
(in thousands) |  | Cost |  | Gains |  | Losses |  | Value
Securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government-sponsored agencies |  | $ | 71,387 |  |  | $ | 438 |  |  | $ | (1,821 | ) |  | $ | 70,004 |
Municipal securities |  | 94,981 |  |  | 4,049 |  |  | (4,211 | ) |  | 94,819 |
Agency mortgage-backed securities |  | 279,458 |  |  | 6,901 |  |  | (3,727 | ) |  | 282,632 |
Private label mortgage-backed securities |  | 114,363 |  |  | 813 |  |  | (152 | ) |  | 115,024 |
Asset-backed securities |  | 5,000 |  |  | — |  |  | (287 | ) |  | 4,713 |
Corporate securities |  | 43,378 |  |  | 322 |  |  | (2,210 | ) |  | 41,490 |
Total available-for-sale |  | $ | 608,567 |  |  | $ | 12,523 |  |  | $ | (12,408 | ) |  | $ | 608,682 |
|  | March 31, 2020
|  | Amortized |  | Gross Unrealized |  | Fair
(in thousands) |  | Cost |  | Gains |  | Losses |  | Value
Securities held-to-maturity |  |  |  |  |  |  |  |  |  |  |  |
Municipal securities |  | $ | 14,617 |  |  | $ | 1,061 |  |  | $ | — |  |  | $ | 15,678 |
Corporate securities |  | 51,714 |  |  | 2,262 |  |  | (186 | ) |  | 53,790 |
Total held-to-maturity |  | $ | 66,331 |  |  | $ | 3,323 |  |  | $ | (186 | ) |  | $ | 69,468 |
|  | December 31, 2019
|  | Amortized |  | Gross Unrealized |  | Fair
(in thousands) |  | Cost |  | Gains |  | Losses |  | Value
Securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government-sponsored agencies |  | $ | 77,715 |  |  | $ | 99 |  |  | $ | (1,942 | ) |  | $ | 75,872 |
Municipal securities |  | 97,447 |  |  | 1,706 |  |  | (1,501 | ) |  | 97,652 |
Agency mortgage-backed securities |  | 264,142 |  |  | 1,304 |  |  | (4,006 | ) |  | 261,440 |
Private label mortgage-backed securities |  | 63,704 |  |  | 97 |  |  | (188 | ) |  | 63,613 |
Asset-backed securities |  | 5,000 |  |  | — |  |  | (45 | ) |  | 4,955 |
Corporate securities |  | 38,632 |  |  | 220 |  |  | (1,532 | ) |  | 37,320 |
Total available-for-sale |  | $ | 546,640 |  |  | $ | 3,426 |  |  | $ | (9,214 | ) |  | $ | 540,852 |
Available-for-sale Securities | The carrying value of securities at March 31, 2020 is shown below by their contractual maturity date. Actual maturities will differ because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | Available-for-Sale
(in thousands) |  | Amortized Cost |  | Fair Value
Within one year |  | $ | 15 |  |  | $ | 15 |
One to five years |  | 19,032 |  |  | 15,068 |
Five to ten years |  | 81,662 |  |  | 80,465 |
After ten years |  | 109,037 |  |  | 110,765 |
|  | 209,746 |  |  | 206,313 |
Agency mortgage-backed securities |  | 279,458 |  |  | 282,632 |
Private label mortgage-backed securities |  | 114,363 |  |  | 115,024 |
Asset-backed securities |  | 5,000 |  |  | 4,713 |
Total |  | $ | 608,567 |  |  | $ | 608,682 |
Held-to-maturity Securities |
|  | Held-to-Maturity
(in thousands) |  | Amortized Cost |  | Fair Value
One to five years |  | $ | 1,505 |  |  | $ | 1,584 |
Five to ten years |  | 52,301 |  |  | 54,610 |
After ten years |  | 12,525 |  |  | 13,274 |
Total |  | $ | 66,331 |  |  | $ | 69,468 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | The unrealized losses on the Company’s investments in agency mortgage-backed, private label mortgage-backed and asset-backed securities were caused primarily by interest rate changes. The Company expects to recover the amortized cost bases over the term of the securities. Because the Company does not intend to sell the investments and it is not likely that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be upon maturity, the Company does not consider those investments to be other-than-temporarily impaired at March 31, 2020. The following tables show the securities portfolio’s gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2020 and December 31, 2019.
|  | March 31, 2020
|  | Less Than 12 Months |  | 12 Months or Longer |  | Total
(in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government-sponsored agencies |  | $ | 3,274 |  |  | $ | (96 | ) |  | $ | 57,775 |  |  | $ | (1,725 | ) |  | $ | 61,049 |  |  | $ | (1,821 | )
Municipal securities |  | 61,974 |  |  | (4,211 | ) |  | — |  |  | — |  |  | 61,974 |  |  | (4,211 | )
Agency mortgage-backed securities |  | 18,798 |  |  | (317 | ) |  | 13,516 |  |  | (3,410 | ) |  | 32,314 |  |  | (3,727 | )
Private label mortgage-backed securities |  | 10,201 |  |  | (122 | ) |  | 2,639 |  |  | (30 | ) |  | 12,840 |  |  | (152 | )
Asset-backed securities |  | — |  |  | — |  |  | 4,713 |  |  | (287 | ) |  | 4,713 |  |  | (287 | )
Corporate securities |  | 9,274 |  |  | (286 | ) |  | 20,076 |  |  | (1,924 | ) |  | 29,350 |  |  | (2,210 | )
Total |  | $ | 103,521 |  |  | $ | (5,032 | ) |  | $ | 98,719 |  |  | $ | (7,376 | ) |  | $ | 202,240 |  |  | $ | (12,408 | )
|  | March 31, 2020
|  | Less Than 12 Months |  | 12 Months or Longer |  | Total
(in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Securities held-to-maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate securities |  | $ | 2,814 |  |  | $ | (186 | ) |  | $ | — |  |  | $ | — |  |  | $ | 2,814 |  |  | $ | (186 | )
Total |  | $ | 2,814 |  |  | $ | (186 | ) |  | $ | — |  |  | $ | — |  |  | $ | 2,814 |  |  | $ | (186 | )
|  | December 31, 2019
|  | Less Than 12 Months |  | 12 Months or Longer |  | Total
(in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government-sponsored agencies |  | $ | 4,820 |  |  | $ | (61 | ) |  | $ | 62,182 |  |  | $ | (1,881 | ) |  | $ | 67,002 |  |  | $ | (1,942 | )
Municipal securities |  | 1,279 |  |  | (1,501 | ) |  | — |  |  | — |  |  | 1,279 |  |  | (1,501 | )
Agency mortgage-backed securities |  | 91,159 |  |  | (829 | ) |  | 83,212 |  |  | (3,177 | ) |  | 174,371 |  |  | (4,006 | )
Private label mortgage-backed securities |  | 30,077 |  |  | (180 | ) |  | 2,884 |  |  | (8 | ) |  | 32,961 |  |  | (188 | )
Asset-backed securities |  | — |  |  | — |  |  | 4,955 |  |  | (45 | ) |  | 4,955 |  |  | (45 | )
Corporate securities |  | — |  |  | — |  |  | 22,985 |  |  | (1,532 | ) |  | 22,985 |  |  | (1,532 | )
Total |  | $ | 127,335 |  |  | $ | (2,571 | ) |  | $ | 176,218 |  |  | $ | (6,643 | ) |  | $ | 303,553 |  |  | $ | (9,214 | )
Held to Maturity, Continuous Unrealized Loss Position, Fair Value |
|  | December 31, 2019
|  | Less Than 12 Months |  | 12 Months or Longer |  | Total
(in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Securities held-to-maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate securities |  | 13,977 |  |  | (132 | ) |  | — |  |  | — |  |  | 13,977 |  |  | (132 | )
Total |  | $ | 13,977 |  |  | $ | (132 | ) |  | $ | — |  |  | $ | — |  |  | $ | 13,977 |  |  | $ | (132 | )
Schedule of Accumulated Other Comprehensive Income (Loss) | Amounts reclassified from accumulated other comprehensive loss and the affected line items in the condensed consolidated statements of income during the three months ended March 31, 2020 were as follows:
(in thousands) Details About Accumulated Other Comprehensive Loss Components |  |  |  | Affected Line Item in the Statements of Income
| Three Months Ended March 31, 2020 |
Realized gains on securities available-for-sale |  |  |  |  |
Gain realized in earnings |  | $ | 41 |  |  | Gain on sale of securities
Total reclassified amount before tax |  | 41 |  |  | Income Before Income Taxes
Tax expense |  | 11 |  |  | Income Tax Provision
Total reclassifications out of accumulated other comprehensive loss |  | $ | 30 |  |  | Net Income
The components of accumulated other comprehensive loss, included in stockholders' equity, are presented in the table below.
(in thousands) |  | Available-For-Sale Securities |  | Cash Flow Hedges |  | Total
Balance, January 1, 2020 |  | $ | (4,388 | ) |  | $ | (9,803 | ) |  | $ | (14,191 | )
Net change in unrealized gain (loss) |  | 6,299 |  |  | (13,458 | ) |  | (7,159 | )
Reclassification of gain realized and included in earnings |  | (41 | ) |  | — |  |  | (41 | )
Accumulated other comprehensive income (loss) before income tax |  | 1,870 |  |  | (23,261 | ) |  | (21,391 | )
Income tax provision (benefit) |  | 2,109 |  |  | (3,634 | ) |  | (1,525 | )
Balance, March 31, 2020 |  | $ | (239 | ) |  | $ | (19,627 | ) |  | $ | (19,866 | )
Balance, January 1, 2019 |  | $ | (13,360 | ) |  | $ | (3,181 | ) |  | $ | (16,541 | )
Net change in unrealized gain (loss) |  | 6,910 |  |  | (3,572 | ) |  | 3,338 |
Accumulated other comprehensive loss before income tax |  | (6,450 | ) |  | (6,753 | ) |  | (13,203 | )
Income tax provision (benefit) |  | 1,930 |  |  | (965 | ) |  | 965 |
Balance, March 31, 2019 |  | $ | (8,380 | ) |  | $ | (5,788 | ) |  | $ | (14,168 | )

X
- Definition Held to Maturity, Continuous Unrealized Loss Position, Fair Value [Table Text Block] + References No definition available. + Details
Name: | inbk_HeldtoMaturityContinuousUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | inbk_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of available-for-sale securities which consist of all investments in certain debt and equity securities. + References No definition available. + Details
Name: | inbk_ScheduleOfClassificationOfAvailableForSaleSecuritiesInvestmentTableTextBlock
Namespace Prefix: | inbk_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Held-To-Maturity Securities Reconciliation + References No definition available. + Details
Name: | inbk_ScheduleOfHeldToMaturitySecuritiesReconciliationTableTextBlock
Namespace Prefix: | inbk_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=118942371&loc=SL82922954-210456 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922888-210455 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563 + Details
Name: | us-gaap_HeldToMaturitySecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669686-108580 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration