---
schema_version: "secwatch.filing_event.v1"
accession: "0000039311-24-000069"
form_type: "8-K"
ticker: "IBCP"
cik: "0000039311"
company_name: "INDEPENDENT BANK CORP /MI/"
filed_at: "2024-07-25T23:59:59+00:00"
generated_at: "2026-05-31T16:26:43.076331+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Independent Bank Q2 net income $18.5M, EPS $0.88 (+25.7% YoY); net interest margin expands to 3.40%

## Summary
- Net income of $18.5M ($0.88 diluted EPS) vs $14.8M ($0.70) in Q2 2023, up 25.3% and 25.7% respectively.
- Net interest income $41.3M (+7.8% YoY); net interest margin 3.40% vs 3.24% year-ago and 3.30% linked-quarter.
- Core deposits grew $53.3M (4.8% annualized) from March 31; loans grew $11.9M (1.2% annualized).
- Non-interest income included $2.7M gain on Visa B-1 stock exchange; provision for credit losses nearly zero ($0.02M).
- Tangible book value per share rose 16.5% YoY to $19.16; non-performing loans just 0.12% of portfolio.

## SEC filing metadata
- accession: 0000039311-24-000069
- form_type: 8-K
- ticker: IBCP
- cik: 0000039311
- company_name: INDEPENDENT BANK CORP /MI/
- filed_at: 2024-07-25T23:59:59+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/39311/000003931124000069/0000039311-24-000069-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39311/000003931124000069/ibcp-20240725.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039311-24-000069
- JSON: https://secwatch.observer/filing/0000039311-24-000069.json
- Plain text: https://secwatch.observer/filing/0000039311-24-000069.txt

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