IBCP

All director nominees were reelected and shareholders approved ratification of auditors and both advisory pay proposals at the virtual AGM, with 88.43% of outstanding shares represented. Independent Bank reported 2025 net income of $68.5 million ($3.27 diluted EPS), with a 1.27% ROA, 14.3% ROE, 13.38% tangible book value per share growth, and raised annual cash dividends 8.3% to $1.04 (13th consecutive year of increases). The bank announced a definitive merger agreement with HCB Financial Corp (Highpoint Community Bank), adding seven branches to its 59-location network as part of a growth plan targeting mid-single-digit loan and deposit growth and profitability goals of ≥1.2% ROA and ≥13% return on capital. Interested in Independent Bank Corporation? Here are five stocks we like better. Independent Bank (NASDAQ:IBCP) held its 2026 annual meeting of shareholders virtually, with Chairman of the Board Steve Gulis presiding and reviewing the matters submitted for shareholder approval. The meeting included votes on director elections, auditor ratification, and advisory proposals related to executive compensation, followed by an operational update from President and CEO Brad Kessel. Gulis said the company conducted the annual meeting online to provide “greater access” to shareholders, with voting available via the methods described in proxy materials and electronically during the meeting. Gavin Mohr, EVP and CFO, acted as secretary and maintained the certified shareholder list as of the record date, Feb. 20, 2026. → The Trade Desk: Down 75%, But a Reversal May Be Near Gulis reported that Independent Bank had 20,769,374 shares of common stock outstanding as of the record date and that a quorum was present through proxies representing a majority of eligible shares. Shareholders voted on four proposals described in the proxy materials: Proposal 1: Election of directors. Terance Beia, William Kessel, and Stephen Gulis, Jr. were nominated for three-year terms ending in 2029, and Michael Wooldridge was nominated for a one-year term ending in 2027. Proposal 2: Ratification of Crowe LLP as independent auditors for the year ending Dec. 31, 2026. Proposal 3: A non-binding advisory vote to approve executive compensation as described in the proxy materials. Proposal 4: A non-binding advisory vote on how often to include the executive compensation advisory vote in proxy materi...

Net income and margin improvement: Q1 net income rose to $16.9 million ($0.81 per diluted share) with a tax-equivalent net interest margin of 3.65% (up 3 bps), supported by core deposit growth of $80.4 million and loan growth of $31.8 million (3% annualized). Credit quality largely stable but one concentration noted: Non-performing loans were $27.5 million (0.64% of loans), with $20 million tied to a single commercial development exposure that management says is appropriately reserved; net charge-offs remain minimal. Positive outlook and merger plans: Management expects continued low double-digit commercial loan growth in 2026 and views the announced merger with HCB Financial as value-accretive, with cost savings phased in (50% in year one, fully in year two) and initial deal liquidity likely directed to commercial lending. Interested in Independent Bank Corporation? Here are five stocks we like better. Independent Bank (NASDAQ:IBCP) reported higher first-quarter 2026 earnings, pointing to modest net interest margin expansion, growth in core deposits and commercial loans, and what management described as continued sound credit quality. President and CEO Brad Kessel said the company posted first-quarter 2026 net income of $16.9 million, or $0.81 per diluted share, up from $15.6 million, or $0.74 per diluted share, in the prior-year period. → Credo Stock Flashes Strong Bullish Signal—Upswing Just Starting Kessel highlighted several quarter metrics, including: Net interest margin of 3.65%, up three basis points from the fourth quarter of 2025 Net interest income increase of $500,000, or 1.1%, versus the fourth quarter of 2025 Increase in tangible common equity per share of $0.33, or 5.9% annualized, from Dec. 31, 2025 Return on average assets of 1.24% and return on average equity of 13.43% Core deposit growth (total deposits less brokered time deposits) of $80.4 million, or 6.9% annualized, from year-end 2025 Loan growth of $31.8 million, or 3% annualized, from year-end 2025 Kessel also noted a tangible common equity ratio of 8.7% and said the company paid a quarterly common dividend of $0.28 per share on Feb. 13, 2026. → Allbirds Exits Shoes, Pivots to AI With NewBird Rebrand Kessel said deposits totaled $4.9 billion at March 31, 2026, an increase of $80.4 million from year-end 2025. The increase came across non-interest-bearing, savings, interest-bearing chec...

This article first appeared on GuruFocus. Net Income: $16.9 million or $0.81 per diluted share for Q1 2026, up from $15.6 million or $0.74 per diluted share in Q1 2025. Net Interest Margin: 3.65%, a 3-basis point increase from the previous quarter. Net Interest Income: Increased by $500,000 or 1.1% over Q4 2025. Tangible Common Equity Per Share: Increased by $0.33 or 5.9% annualized from December 31, 2025. Return on Average Assets: 1.24%. Return on Average Equity: 13.43%. Total Deposits: $4.9 billion at March 31, 2026, with a net growth of $80.4 million or 6.9% annualized from December 31, 2025. Loan Growth: $31.8 million or 3% annualized from December 31, 2025, with commercial loans increasing by $53.8 million or 9.9% annualized. Tangible Common Equity Ratio: Increased to 8.7%. Quarterly Dividend: $0.28 per share paid on February 13, 2026. Nonperforming Loans: $27.5 million or 64 basis points of total loans at quarter end. Net Charge-offs: $266,000 or 2 basis points of average loans for the quarter. Noninterest Income: $12 million in Q1 2026, compared to $10.4 million in Q1 2025. Noninterest Expense: $38.3 million in Q1 2026, compared to $34.3 million in Q1 2025. Effective Income Tax Rate: 16.6% for Q1 2026. Warning! GuruFocus has detected 1 Warning Sign with IBCP. Is IBCP fairly valued? Test your thesis with our free DCF calculator. Release Date: April 23, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Independent Bank Corp. (NASDAQ:IBCP) reported a net income increase to $16.9 million or $0.81 per diluted share, up from $15.6 million or $0.74 per diluted share in the prior year. Net interest margin improved to 3.65%, a 3-basis point increase from the previous quarter. The company experienced a net growth in total deposits by $80.4 million or 6.9% annualized from December 31, 2025. Commercial loans saw significant growth, increasing by $53.8 million or 9.9% annualized. The tangible common equity ratio increased to 8.7%, indicating a stronger capital position. Residential mortgage and consumer installment loan portfolios declined by $4.5 million and $17.5 million, respectively. Nonperforming loans increased to $27.5 million or 64 basis points of total loans, up from 54 basis points at the end of 2025. Non-interest expense rose to $38.3 million, above the forecasted range, driven by litigation expens...

Net interest margin expanded 3 basis points linked-quarter to 3.65%, driven by a 13 basis point decrease in total cost of funds. Commercial loan growth of 9.9% annualized reflects the successful execution of a strategic plan to invest in specialized banking talent. Management attributed the 6.9% annualized growth in core deposits to a focus on operating accounts for business and municipal clients. The bank maintained a disciplined balance sheet, using runoff from lower-yielding investments and consumer loans to fund higher-yielding commercial assets. Credit quality remains sound with net charge-offs at only 2 basis points, though management is monitoring one specific commercial development exposure. Profitability metrics remained strong with a return on average assets of 1.24%, supported by stable core fundamentals despite geopolitical uncertainty. Management expects low double-digit growth in the commercial loan portfolio for 2026 based on a strong current pipeline. The net interest margin outlook remains stable even if anticipated interest rate cuts do not materialize during the year. The pending merger with HCB Financial Corp. is expected to provide excess liquidity that will be prioritized for deployment into commercial lending. Net interest income in the first quarter of 2026 increased 7.3% over 2025, falling within the company's forecasted range of 7% to 8%. Cost savings from the HCB merger are expected to be 50% phased in during the first year and fully realized by the second year. Non-recurring expenses totaled $1.9 million, including a $1.5 million litigation accrual for probable losses across outstanding matters. A $0.4 million expense was recorded for retroactive deposit account opening incentives related to prior periods. Mortgage servicing rights (MSR) valuation changes resulted in a $0.9 million gain, contrasting with a loss in the prior year period. Management identified high energy prices as a potential macro risk that could mute future loan growth if geopolitical conflicts persist. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management confirmed that their margin forecast holds even if the Federal Reserve does not implement the two rate cuts originally embedded in their model. The bank's interest rate risk position is closely matched...

For the quarter ended March 2026, Independent Bank (IBCP) reported revenue of $58.9 million, up 8.9% over the same period last year. EPS came in at $0.81, compared to $0.74 in the year-ago quarter. The reported revenue represents a surprise of +1.65% over the Zacks Consensus Estimate of $57.95 million. With the consensus EPS estimate being $0.79, the EPS surprise was +2.53%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Independent Bank performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Efficiency Ratio: 64.3% versus the three-analyst average estimate of 62.1%. Net Interest Margin (GAAP): 3.6% versus 3.7% estimated by three analysts on average. Total interest-earning assets: $5.21 billion versus the two-analyst average estimate of $5.21 billion. Total non-interest income: $12.05 million compared to the $11.17 million average estimate based on three analysts. Mortgage loans: $1.31 million compared to the $1.31 million average estimate based on two analysts. Service charges on deposit accounts: $2.94 million versus the two-analyst average estimate of $2.87 million. Net Interest Income: $46.86 million versus $46.55 million estimated by two analysts on average. Interchange income: $3.23 million versus the two-analyst average estimate of $3.12 million. View all Key Company Metrics for Independent Bank here>>> Shares of Independent Bank have returned +2.8% over the past month versus the Zacks S&P 500 composite's +9.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Independent Bank Corporation (IBCP) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Researc...

Independent Bank (IBCP) came out with quarterly earnings of $0.81 per share, beating the Zacks Consensus Estimate of $0.79 per share. This compares to earnings of $0.74 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +2.53%. A quarter ago, it was expected that this bank holding company would post earnings of $0.83 per share when it actually produced earnings of $0.89, delivering a surprise of +7.23%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Independent Bank, which belongs to the Zacks Banks - Midwest industry, posted revenues of $58.9 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.65%. This compares to year-ago revenues of $54.11 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Independent Bank shares have added about 3.4% since the beginning of the year versus the S&P 500's gain of 4.3%. While Independent Bank has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Independent Bank was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks...

GRAND RAPIDS, Mich., April 23, 2026 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP) reported first quarter 2026 net income of $16.9 million, or $0.81 per diluted share, versus net income of $15.6 million, or $0.74 per diluted share, in the prior-year period. Highlights for the first quarter of 2026 include: A net interest margin of 3.65% (three basis point increase from the linked quarter); Increase in net interest income of $0.5 million (or 1.1% ) over the fourth quarter of 2025; Increase in tangible common equity per share of common stock of $0.33 (or 5.9% annualized) from December 31, 2025; A return on average assets and a return on average equity of 1.24% and 13.43%, respectively; Net growth in total deposits, less brokered time deposits, of $80.4 million (or 6.9% annualized) from December 31, 2025; Net growth in loans of $31.8 million (or 3.0% annualized) from December 31, 2025; An increase in the tangible common equity ratio to 8.7%; and The payment of a $0.28 per share quarterly dividend on common stock on February 13, 2026. William B. (“Brad”) Kessel, the President and Chief Executive Officer of Independent Bank Corporation, commented: “Our first quarter results reflect the strength of our core fundamentals, including growth in net interest income, expansion in our net interest margin to 3.65%, and continued growth in both loans and core deposits. Balance sheet growth remained disciplined, with $80.4 million in core deposit growth and $31.8 million in total loan growth, including $53.8 million, or 9.9% annualized, in commercial loans, reflecting continued execution of our strategic plan. Credit quality remains sound, and while geopolitical uncertainty has increased, we have not seen a direct impact on our customers and continue to monitor conditions closely. Profitability remained strong, with a return on average assets of 1.24% and a return on average equity of 13.43%. We remain encouraged by our momentum, optimistic about our opportunities, and confident in the benefits our recently announced merger with HCB Financial Corp. will provide to enhancing shareholder value.” Significant items impacting comparable first quarter 2026 and 2025 results include the following: Changes in the fair value due to price of capitalized mortgage loan servicing rights (the “MSR Changes”) of $0.9 million ($0.04 per diluted share, after taxes) for the th...

GRAND RAPIDS, Mich. (AP) — GRAND RAPIDS, Mich. (AP) — Independent Bank Corp. (IBCP) on Thursday reported first-quarter net income of $16.9 million. The bank, based in Grand Rapids, Michigan, said it had earnings of 81 cents per share. The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share. The bank holding company posted revenue of $78.2 million in the period. Its revenue net of interest expense was $58.9 million, which also beat Street forecasts. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBCP at https://www.zacks.com/ap/IBCP

GRAND RAPIDS, Mich., April 21, 2026 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock of $0.28 per share. This dividend is payable on May 14, 2026, to shareholders of record on May 4, 2026. About Independent Bank Corporation Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $5.5 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan's Lower Peninsula through one state-chartered bank subsidiary. This subsidiary (Independent Bank) provides a full range of financial services, including commercial banking, mortgage lending, investments and insurance services. Independent Bank Corporation is committed to providing exceptional personal service and value to its customers, stockholders and the communities it serves. For more information, please visit our Web site at: IndependentBank.com.

This article first appeared on GuruFocus. Independent Bank Corp. (NASDAQ:IBCP) is set to release its Q1 2026 earnings on Apr 23, 2026. The consensus estimate for Q1 2026 revenue is $49.95 million, and the earnings are expected to come in at $0.79 per share. The full year 2026's revenue is expected to be $214.83 million and the earnings are expected to be $3.43 per share. More detailed estimate data can be found on the Forecast page. Warning! GuruFocus has detected 1 Warning Sign with IBCP. Is IBCP fairly valued? Test your thesis with our free DCF calculator. Over the past 90 days, revenue estimates for Independent Bank Corp. (NASDAQ:IBCP) have increased from $190.91 million to $214.83 million for the full year 2026, and from $201.60 million to $234.12 million for 2027. Similarly, earnings estimates have risen from $3.40 per share to $3.43 per share for 2026, and from $3.60 per share to $3.78 per share for 2027. In the previous quarter ending December 31, 2025, Independent Bank Corp.'s (NASDAQ:IBCP) actual revenue was $46.35 million, which missed analysts' revenue expectations of $46.65 million by -0.63%. Independent Bank Corp.'s (NASDAQ:IBCP) actual earnings were $0.89 per share, which beat analysts' earnings expectations of $0.84 per share by 6.46%. After releasing the results, Independent Bank Corp. (NASDAQ:IBCP) was up by 0.97% in one day. Based on the one-year price targets offered by 5 analysts, the average target price for Independent Bank Corp. (NASDAQ:IBCP) is $37.00 with a high estimate of $39.00 and a low estimate of $35.00. The average target implies an upside of 10.41% from the current price of $33.51. Based on GuruFocus estimates, the estimated GF Value for Independent Bank Corp. (NASDAQ:IBCP) in one year is $31.25, suggesting a downside of -6.74% from the current price of $33.51. Based on the consensus recommendation from 5 brokerage firms, Independent Bank Corp.'s (NASDAQ:IBCP) average brokerage recommendation is currently 3.0, indicating a "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.

GRAND RAPIDS, Mich., March 31, 2026 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that it expects to issue its 2026 first quarter results on Thursday, April 23, 2026, at approximately 8:00 am ET. The release will be available on the Internet at IndependentBank.com within the “News” section of the “Investor Relations” area of the Company’s website. Brad Kessel, President and CEO, Gavin Mohr, CFO and Joel Rahn, EVP Commercial Banking will review the quarterly results in a conference call for investors and analysts beginning at 11:00 am ET on Thursday, April 23, 2026. To access via phone, participants will need to register using the following link where they will be provided a phone number and access code: https://register-conf.media-server.com/register/BId259863bf9e8463883aeddb939de1580 In order to view the webcast and presentation slides, please go to https://edge.media-server.com/mmc/p/989vrdc9 during the time of the call. A replay of the webcast will be available until April 23, 2027. About Independent Bank Corporation Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $5.5 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan's Lower Peninsula through one state-chartered bank subsidiary. This subsidiary (Independent Bank) provides a full range of financial services, including commercial banking, mortgage lending, investments, insurance and title services. Independent Bank Corporation is committed to providing exceptional personal service and value to its customers, stockholders and the communities it serves. For more information, please visit our website at: IndependentBank.com.