Independent Bank Q3 net income $13.8M ($0.65 EPS); loan growth 9.3% annualized

INDEPENDENT BANK CORP /MI/

2024-Q3 EPS reported $2.29 revenue$24,307,000

Net income $13.8M, down 21% from $17.5M in Q3 2023; diluted EPS $0.65 vs $0.83.
Net interest income $41.9M (+6.2% YoY); net interest margin 3.37% vs 3.23% YoY.
Loans grew $90.4M annualized 9.3% from Q2; core deposits up $100.1M annualized 8.9%.
Non-interest income $9.5M, down from $15.6M, driven by mortgage servicing fair value change of $(4.2)M.
Tangible book value per share $20.22, up 22% YoY; allowance for credit losses at 1.46% of loans.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.