---
schema_version: "secwatch.filing_event.v1"
accession: "0000039311-24-000013"
form_type: "8-K"
ticker: "IBCP"
cik: "0000039311"
company_name: "INDEPENDENT BANK CORP /MI/"
filed_at: "2024-01-25T23:59:59+00:00"
generated_at: "2026-06-06T18:40:58.924104+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# IBCP Q4 net income $13.7M ($0.65 EPS) vs $15.1M year ago; loans up 5.2% annualized

## Summary
- Net interest income $40.1M, up 1.7% linked quarter; net interest margin 3.26% vs 3.52% year ago.
- Non-interest income $9.1M, driven by $2.0M mortgage gains offset by $2.4M servicing loss.
- Non-performing loans $5.23M (0.14% of loans); provision credit of $0.6M; allowance 1.44% of loans.
- Tangible book value $17.96 per share, up $1.43 from Q3; 2024 share repurchase plan up to 1.1M shares.
- Full year 2023 net income $59.1M ($2.79 EPS) vs $63.4M ($2.97 EPS) in 2022.

## SEC filing metadata
- accession: 0000039311-24-000013
- form_type: 8-K
- ticker: IBCP
- cik: 0000039311
- company_name: INDEPENDENT BANK CORP /MI/
- filed_at: 2024-01-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39311/000003931124000013/0000039311-24-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39311/000003931124000013/ibcp-20240125.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039311-24-000013
- JSON: https://secwatch.observer/filing/0000039311-24-000013.json
- Plain text: https://secwatch.observer/filing/0000039311-24-000013.txt

## Key facts
- Earnings Releases
  INDEPENDENT BANK CORP /MI/ reported year ended December 31, 2023 results: net income net income of $59.1 million, EPS $2.79 per diluted share.
  - Period: year ended December 31, 2023
  - Net income: net income of $59.1 million
  - EPS: $2.79 per diluted share
  - Result: reported results
  source text: For the year ended December 31, 2023, the Company reported net income of $59.1 million, or $2.79 per diluted share, compared to net income of $63.4 million, or $2.97 per diluted share, in 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/39311/000003931124000013/0000039311-24-000013-index.htm
- Earnings Releases
  INDEPENDENT BANK CORP /MI/ reported quarter ended December 31, 2023 results: net income net income of $13.7 million, EPS $0.65 per diluted share.
  - Period: quarter ended December 31, 2023
  - Net income: net income of $13.7 million
  - EPS: $0.65 per diluted share
  - Result: reported results
  source text: Independent Bank Corporation (NASDAQ: IBCP) reported fourth quarter 2023 net income of $13.7 million, or $0.65 per diluted share, versus net income of $15.1 million, or $0.71 per diluted share, in the prior-year period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/39311/000003931124000013/0000039311-24-000013-index.htm

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