---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-22-015854"
form_type: "8-K"
ticker: "IBCP"
cik: "0000039311"
company_name: "INDEPENDENT BANK CORP /MI/"
filed_at: "2022-04-26T23:59:59+00:00"
generated_at: "2026-06-26T04:48:36.964088+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# IBCP Q1 2022 EPS $0.84 vs $1.00 YoY; net interest income up 9% but mortgage fees plunge

## Summary
- Net income $18.0M ($0.84 diluted EPS) vs $22.0M ($1.00) in Q1 2021; a 16% decline.
- Net interest income rose 9% to $33.0M; net interest margin narrowed to 3.00% from 3.05%.
- Non-interest income fell 28% to $18.9M as mortgage gains dropped to $0.8M from $12.8M.
- Loan growth of $99M (13.8% annualized) and deposit growth of $88M (8.7% annualized).
- Asset quality strong: NPLs 0.17%, allowance 1.52%; provision credit of $1.6M.

## SEC filing metadata
- accession: 0001140361-22-015854
- form_type: 8-K
- ticker: IBCP
- cik: 0000039311
- company_name: INDEPENDENT BANK CORP /MI/
- filed_at: 2022-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39311/000114036122015854/0001140361-22-015854-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39311/000114036122015854/brhc10036647_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-22-015854
- JSON: https://secwatch.observer/filing/0001140361-22-015854.json
- Plain text: https://secwatch.observer/filing/0001140361-22-015854.txt

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