---
schema_version: "secwatch.filing_event.v1"
accession: "0000039311-23-000088"
form_type: "8-K"
ticker: "IBCP"
cik: "0000039311"
company_name: "INDEPENDENT BANK CORP /MI/"
filed_at: "2023-10-24T23:59:59+00:00"
generated_at: "2026-06-09T14:59:58.958882+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Independent Bank Corp Q3 net income $17.5M ($0.83 EPS); loan growth 12.1% annualized

## Summary
- Q3 2023 net income $17.5M ($0.83 diluted EPS) vs $17.3M ($0.81) a year ago; nine-month EPS $2.14 vs $2.27.
- Net interest income $39.4M, up 2.8% linked quarter but down 1.2% YoY; net interest margin 3.25% vs 3.49% YoY.
- Loans grew $110.4M (12.1% annualized) and core deposits $112.6M (10.5% annualized) from June 30, 2023.
- Total assets $5.20B, up $200M from Dec 2022; shareholders' equity $375M (7.21% of assets).
- Provision for credit losses on loans $1.4M expense vs $3.1M a year ago; non-performing loans 0.13% of portfolio.

## SEC filing metadata
- accession: 0000039311-23-000088
- form_type: 8-K
- ticker: IBCP
- cik: 0000039311
- company_name: INDEPENDENT BANK CORP /MI/
- filed_at: 2023-10-24T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39311/000003931123000088/0000039311-23-000088-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39311/000003931123000088/ibcp-20231024.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039311-23-000088
- JSON: https://secwatch.observer/filing/0000039311-23-000088.json
- Plain text: https://secwatch.observer/filing/0000039311-23-000088.txt

## Key facts
- Earnings Releases
  INDEPENDENT BANK CORP /MI/ reported the quarter ended September 30, 2023 results: net income $17.5 million, EPS $0.83 per diluted share.
  - Period: the quarter ended September 30, 2023
  - Net income: $17.5 million
  - EPS: $0.83 per diluted share
  - Result: reported results
  source text: Independent Bank Corporation (NASDAQ: IBCP) reported third quarter 2023 net income of $17.5 million, or $0.83 per diluted share, versus net income of $17.3 million, or $0.81 per diluted share, in the prior-year period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/39311/000003931123000088/0000039311-23-000088-index.htm

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