secwatch.observer — SEC 8-K summary
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Issuer:     INDEPENDENT BANK CORP /MI/ (IBCP)
CIK:        0000039311
Form:       8-K
Filed at:   2025-07-24T23:59:59+00:00
Accession:  0000039311-25-000083
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39311/000003931125000083/0000039311-25-000083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39311/000003931125000083/ibcp-20250724.htm
  HTML page:      https://secwatch.observer/filing/0000039311-25-000083

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer