Independent Bank Corporation ( (IBCP) ) has released its Q3 earnings. Here is a breakdown of the information Independent Bank Corporation presented to its investors.
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Independent Bank Corporation, a Michigan-based bank holding company, operates a branch network across Michigan’s Lower Peninsula providing a full range of financial services including commercial banking, mortgage lending, consumer banking, investments, and insurance. In its third quarter of 2025, Independent Bank Corporation reported a net income of $17.5 million, or $0.84 per diluted share, marking a significant increase from the previous year’s $13.8 million, or $0.65 per diluted share. The bank also saw a 1.7% increase in net interest income over the second quarter of 2025, alongside a 20% annualized increase in tangible common equity per share. Key financial metrics for the quarter included a 3.2% annualized growth in loan balances and a 13% annualized increase in total deposits, excluding brokered time deposits. The bank’s net interest margin was stable at 3.54%, despite a slight decline from the previous quarter due to specific debt-related costs. Non-interest income rose to $11.9 million, driven by mortgage banking revenues, while non-interest expenses increased to $34.1 million. Looking ahead, Independent Bank Corporation remains optimistic about its growth prospects, with management expressing confidence in finishing 2025 strong and expanding its customer base and earnings in 2026.