Independent Bank Q1 net income $15.6M ($0.74 EPS); TBVPS up 13% YoY

INDEPENDENT BANK CORP /MI/

2025-Q1 EPS reported $0.74 revenue$7,342,000

Net income $15.6M vs $16.0M prior year; diluted EPS $0.74 vs $0.76.
Net interest margin improved to 3.49% from 3.30% YoY; NII up 8.7%.
Sold $931M of mortgage servicing rights on Jan 31, reducing MSR exposure.
Tangible book value per share $20.87, up 13.2% YoY; capital ratios strong.
Post-quarter share repurchases of 249K shares for $7.2M through April 22.

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