First Internet Bancorp

19 Noninterest Expense Trends $21.8 $25.5 $24.2 $25.0 $26.1 1.48% 1.66% 1.71% 1.80% 1.85% 2Q25 3Q25 4Q25 1Q26 2Q26 Noninterest Expense Noninterest Expense NIE to Average Assets $ in millions Key Highlights • Increase in expenses from 1Q26 due primarily to higher compensation, consulting and other expense • Low NIE / average assets highlights efficient business model • YoY expenses reflect additional personnel to strengthen SBA and risk management • The Company expects to continue investing in tech and AI to further enhance consumer and SMB product offerings as well as SBA and risk management% of Noninterest Expense Personnel 50% 56% 52% 53% 52% Non-Personnel 50% 44% 48% 47% 48%

“We are equally encouraged by the acceleration of our fee-based businesses. Noninterest income grew more than 56% year-over-year, driven by the continued strength of our Banking-as-a-Service platform and the deepening of our fintech partnerships, including an expanded relationship with jaris under which we will retain all small business loans originated through its platform. We also continue to invest in AI, automation, and digital capabilities that drive efficiency and elevate the customer experience. With improving credit, growing fee income, and a more capital-efficient balance sheet, we are well-positioned to build on this momentum through the remainder of 2026 and beyond."

17 Noninterest Expense Trends $23.6 $21.8 $25.5 $24.2 $25.0 1.66% 1.48% 1.66% 1.71% 1.80% 1Q25 2Q25 3Q25 4Q25 1Q26 Noninterest Expense Noninterest Expense NIE to Average Assets $ in millions Key Highlights • Increase in expenses from 4Q25 due primarily to employee benefit resets • Low NIE / average assets highlights efficient business model • YoY expenses reflect additional personnel to strengthen SBA and risk management • The Company expects to continue investing in tech and AI to further enhance consumer and SMB product offerings as well as SBA and risk management % of Noninterest Expense Personnel 56% 50% 56% 52% 53% Non-Personnel 44% 50% 44% 48% 47%

“Beyond the strong quarterly financial results, we continued to make strategic investments in AI and digital capabilities that are already delivering measurable results - our virtual customer service agents resolve 45% of inquiries, our fraud detection agents enhance security, and our Net Promoter Scores are well above industry averages. Additionally, our Banking-as-a-Service partnerships continue to grow and provide valuable deposit funding flexibility, while our commercial lending pipelines remain robust across multiple verticals. With improving credit trends, strong margin momentum, and disciplined cost management, we are well-positioned to deliver improving profitability through 2026 and accelerating performance into 2027."

17 Noninterest Expense Trends $24.0 $23.6 $21.8 $25.5 $24.2 1.65% 1.66% 1.48% 1.66% 1.71% 4Q24 1Q25 2Q25 3Q25 4Q25 Noninterest Expense Noninterest Expense NIE to Average Assets % of Noninterest Expense Personnel 59% 56% 50% 56% 52% Non-Personnel 41% 44% 50% 44% 48% $ in millions Key Highlights • Decline in expenses from 3Q25 due primarily to lower incentive compensation • Low NIE / average assets highlights efficient business model • FY 2025 expenses reflect additional personnel to strengthen SBA and risk management • The Company expects to continue investing in tech and AI to further enhance consumer and SMB product offerings as well as SBA and risk management

"Additionally, we took decisive and proactive measures to address credit challenges in our SBA and franchise finance portfolios through enhanced underwriting standards, and improved collection and risk management through strategic investments in AI and automation. As a result, we expect gradual credit improvement in the second half of this year. Looking ahead, our digital-first model, strong loan pipelines, and diversified revenue streams position us well for continued growth. We remain confident in our ability to deliver strong financial performance while building long-term shareholder value through disciplined execution of our strategic priorities."