secwatch.observer — SEC 8-K summary
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Issuer:     INDEPENDENT BANK CORP /MI/ (IBCP)
CIK:        0000039311
Form:       8-K
Filed at:   2022-07-26T23:59:59+00:00
Accession:  0001140361-22-026912
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39311/000114036122026912/0001140361-22-026912-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39311/000114036122026912/brhc10039905_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-026912

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