Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Independent Bank Corporation (IBCP)
:IBCP
Earnings Data
Report Date
Apr 29, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.7Last Year’s EPS
0.74Same Quarter Last Year
Based on 3 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Jan 23, 2025
|% Change Since: -0.03%
|Next Earnings Date:Apr 29, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong growth in net income, loans, and a healthy net interest margin, alongside an increase in dividends. However, it noted challenges with declining core deposits and rising noninterest expenses.Company Guidance
During the Independent Bank Corporation's Q4 2024 earnings call, significant financial metrics were highlighted, underscoring a robust performance for the year. The company reported a fourth-quarter net income of $18.5 million, or $0.87 per diluted share, an increase from the previous year's $13.7 million, or $0.65 per diluted share. For the entire year, net income rose to $66.8 million, or $3.16 per diluted share, compared to $59.1 million, or $2.79 per diluted share in 2023. The bank achieved a 10% annualized growth rate in its loan portfolio, with commercial loans seeing a 24% annualized growth, contributing to a $1 million increase in net interest income and a net interest margin of 3.45%. Total loans grew by 7% and core deposits by 5%, with a return on average assets of 1.27% and a return on average equity of 15.66%. Looking ahead to 2025, the bank anticipates mid-single-digit loan growth and a net interest margin increase of 20 to 25 basis points, supported by strategic investments in talent and technology, and an 8% increase in the quarterly dividend.Strong Net Income Growth
Reported Q4 2024 net income of $18.5 million, up from $13.7 million in the previous year, marking a 35% increase. Full-year net income of $66.8 million, a 13% increase from 2023.
Robust Loan Portfolio Growth
Achieved a 10% annualized growth rate in the loan portfolio for Q4 2024, with commercial loans growing at a 24% annualized rate.
Healthy Credit Metrics
Nonperforming assets remained near historic lows, with nonperforming loans at $6 million, which is approximately 15 basis points of total loans.
Increased Dividend
The Board approved an 8% increase in the quarterly dividend, marking the 12th consecutive annual increase.
Improved Net Interest Margin
Net interest margin increased to 3.45% in Q4 2024, up from 3.26% in the prior year.
---
IBCP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
IBCP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 23, 2025 | $34.55 | $34.98 | +1.24% |
| Oct 24, 2024 | $32.74 | $32.26 | -1.47% |
| Jul 25, 2024 | $32.52 | $34.36 | +5.66% |
| Apr 25, 2024 | $24.34 | $24.38 | +0.16% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Independent Bank Corporation (IBCP) report earnings?
Independent Bank Corporation (IBCP) is schdueled to report earning on Apr 29, 2025, TBA Not Confirmed.
What is Independent Bank Corporation (IBCP) earnings time?
Independent Bank Corporation (IBCP) earnings time is at Apr 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IBCP EPS forecast?
IBCP EPS forecast for the fiscal quarter 2025 (Q1) is 0.7.
---