---
schema_version: "secwatch.filing_event.v1"
accession: "0000039311-23-000018"
form_type: "8-K"
ticker: "IBCP"
cik: "0000039311"
company_name: "INDEPENDENT BANK CORP /MI/"
filed_at: "2023-01-26T23:59:59+00:00"
generated_at: "2026-06-20T08:36:41.946025+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000039311-23-000018
- form_type: 8-K
- ticker: IBCP
- cik: 0000039311
- company_name: INDEPENDENT BANK CORP /MI/
- filed_at: 2023-01-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39311/000003931123000018/0000039311-23-000018-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39311/000003931123000018/ibcp-20230126.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039311-23-000018
- JSON: https://secwatch.observer/filing/0000039311-23-000018.json
- Plain text: https://secwatch.observer/filing/0000039311-23-000018.txt

## Key facts
- Earnings Releases
  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
  source text: For the year ended December 31, 2022, the Company reported net income of $63.4 million, or $2.97 per diluted share
  evidence_url: https://www.sec.gov/Archives/edgar/data/39311/000003931123000018/0000039311-23-000018-index.htm
- Earnings Releases
  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
  source text: Independent Bank Corporation issued a press release announcing its financial results for the quarter ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/39311/000003931123000018/0000039311-23-000018-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.