Quarterly ResultApr 23, 2026, 08:17 AM
INDEPENDENT BANK CORP Q1 2026 Net Income $16.9M, EPS $0.81
AI Summary
INDEPENDENT BANK CORP reported strong first-quarter 2026 results with net income of $16.9 million, or $0.81 per diluted share. The company achieved a Return on Average Assets (ROAA) of 1.24% and a Return on Average Equity (ROAE) of 13.43%, driven by solid loan growth and prudent balance sheet management. Net interest income increased by $3.2 million year-over-year, and tangible book value per share grew 12.0% compared to the prior year quarter.
Key Highlights
- Net income reached $16.9 million, or $0.81 per diluted share.
- Total loans increased 3.0% annualized, with commercial loans up 9.9%.
- Net interest margin improved to 3.65% from 3.49% year-over-year.
- Tangible book value per share increased 5.9% annualized from prior quarter.
- Core deposits grew by $80.4 million, or 6.9% annualized.
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INDEPENDENT BANK CORP /MI/Price Impact