Independent Bank Q2 net income $13.0M ($0.61 EPS), up 4.9%; loan growth 34% annualized

INDEPENDENT BANK CORP /MI/

2022-Q2 EPS reported $1.45 revenue$15,224,000

Net income $13.0M vs $12.4M in Q2 2021; diluted EPS $0.61 vs $0.56.
Net interest income $36.1M, up 14.9% YoY; net interest margin 3.26% vs 3.02%.
Portfolio loans grew $254.8M (34% annualized); total deposits rose $173.5M from Dec 2021.
Net recoveries on loans; allowance for credit losses 1.47% of loans.
Q2 2022 share repurchases of 181,586 shares at $22.08 average price.

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.