Independent Bank Q2 net income $16.9M ($0.81 EPS), down from $18.5M YoY; loan growth 9% annualized

INDEPENDENT BANK CORP /MI/

2025-Q2 EPS reported $1.54 revenue$15,221,000

Net interest income of $44.6M (+7.9% YoY); net interest margin expanded nine bps QoQ to 3.58%.
Loans grew $91.7M (9.0% annualized) from Q1; core deposits declined 1.4% annualized on seasonality.
Non-interest income fell to $11.3M from $15.2M; prior year included a $2.7M gain on Visa stock.
Non-performing assets at 0.16% of total assets; net charge-offs were just 0.02% annualized.
Tangible common equity per share rose to $21.23, up $0.36 from March 31, 2025.

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