IBCP Q4 net income $15.1M (+20.6% YoY), EPS $0.71; net interest margin 3.52%; commercial loans up 16.5% annualized

INDEPENDENT BANK CORP /MI/

2022-FY EPS reported $2.97 revenue$31,643,000

Net income $15.1M ($0.71 diluted EPS) vs $12.5M ($0.58) in Q4 2021; full year $63.4M ($2.97) vs $62.9M ($2.88).
Net interest income $40.6M (+18.4% YoY); net interest margin 3.52% vs 3.13% prior year quarter.
Commercial loans grew $58.6M net (16.5% annualized); total loans $3.47B, up from $2.91B year ago.
Mortgage banking revenue declined: net gain on mortgage loans $1.5M vs $5.6M; servicing income $0.7M vs $1.3M.
Board authorized 2023 share repurchase of up to 1.1M shares (~5% of outstanding); tangible book $15.04/share.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INDEPENDENT BANK CORP /MI/ reported the year ended December 31, 2022 results: net income $63.4 million, EPS $2.97 per diluted share.

Period: the year ended December 31, 2022
Net income: $63.4 million
EPS: $2.97 per diluted share
Result: reported results

Exact text from the filing

For the year ended December 31, 2022, the Company reported net income of $63.4 million, or $2.97 per diluted share

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INDEPENDENT BANK CORP /MI/ reported the quarter ended December 31, 2022 results: net income $15.1 million, EPS $0.71 per diluted share.

Period: the quarter ended December 31, 2022
Net income: $15.1 million
EPS: $0.71 per diluted share
Result: reported results

Exact text from the filing

Independent Bank Corporation issued a press release announcing its financial results for the quarter ended December 31, 2022.

View on SEC.gov

Browse all earnings releases →

INDEPENDENT BANK CORP /MI/ filing history →

Source: SEC EDGAR

accession 0000039311-23-000018

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.