Independent Bank Corp Q2 net income $14.8M ($0.70 EPS); loans up 13.9% annualized

INDEPENDENT BANK CORP /MI/

2023-Q2 EPS reported $1.31 revenue$15,633,000

Q2 net income $14.8M ($0.70 diluted) vs $13.0M ($0.61) in Q2 2022.
Net interest income $38.4M, up 6.3% YoY; net interest margin 3.26% unchanged.
Loans grew $121.3M (13.9% annualized) to $3.63B; deposits up $108.6M.
Non-performing loans 0.11% of portfolio; allowance for credit losses 1.49%.
Six-month net income $27.8M ($1.31 diluted) vs $31.0M ($1.45) year-ago.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INDEPENDENT BANK CORP /MI/ reported second quarter 2023 results: net income $14.8 million, EPS $0.70 per diluted share.

Period: second quarter 2023
Net income: $14.8 million
EPS: $0.70 per diluted share
Result: reported results

Exact text from the filing

Independent Bank Corporation (NASDAQ: IBCP) reported second quarter 2023 net income of $14.8 million, or $0.70 per diluted share

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INDEPENDENT BANK CORP /MI/ reported the six months ended June 30, 2023 results: net income $27.8 million, EPS $1.31 per diluted share.

Period: the six months ended June 30, 2023
Net income: $27.8 million
EPS: $1.31 per diluted share
Result: reported results

Exact text from the filing

For the six months ended June 30, 2023, the Company reported net income of $27.8 million, or $1.31 per diluted share

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INDEPENDENT BANK CORP /MI/ filing history →

Source: SEC EDGAR

accession 0000039311-23-000071

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