secwatch.observer — SEC 8-K summary
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Issuer:     INDEPENDENT BANK CORP /MI/ (IBCP)
CIK:        0000039311
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0000039311-23-000071
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39311/000003931123000071/0000039311-23-000071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39311/000003931123000071/ibcp-20230725.htm
  HTML page:      https://secwatch.observer/filing/0000039311-23-000071

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer