secwatch.observer — SEC 8-K summary
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Issuer:     INDEPENDENT BANK CORP /MI/ (IBCP)
CIK:        0000039311
Form:       8-K
Filed at:   2022-10-25T23:59:59+00:00
Accession:  0000039311-22-000056
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IBCP Q3 net income $17.3M ($0.81 EPS), NIM 3.49%, loan growth 18.4% annualized
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- Net income $17.3M vs $16.0M a year ago; diluted EPS $0.81 vs $0.73.
- Net interest income $39.9M (+18% YoY); NIM expanded 23bp to 3.49% from Q2.
- Portfolio loans grew $151M (18.4% annualized); deposits up $209.9M since Dec 2021.
- Provision for credit losses expense $3.1M vs credit of $0.7M a year ago.
- Non-performing loans/total loans 0.11%; allowance for credit losses 1.50%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39311/000003931122000056/0000039311-22-000056-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39311/000003931122000056/ibcp-20221025.htm
  HTML page:      https://secwatch.observer/filing/0000039311-22-000056

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