Press release
Independent Bank Corporation Reports Fourth Quarter Earnings Of $0.89 Per Diluted Share; Board Authorizes 5% Stock Repurchase Plan
GRAND RAPIDS, Mich., Jan. 22, 2026 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP) reported fourth quarter 2025 net income of $18.6 million,
About this update from Independent Bank Corporation
[{"type":"text","content":"GRAND RAPIDS, Mich., Jan. 22, 2026 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP) reported fourth quarter 2025 net income of $18.6 million, or $0.89 per diluted share, versus net income of $18.5 million, or $0.87 per diluted share, in the prior-year period. For the year ended December 31, 2025, the Company reported net income of $68.5 million, or $3.27 per diluted share, compared to net income of $66.8 million, or $3.16 per diluted share, in 2024. Highlights for the fourth quarter of 2025 include: An increase in net interest income of $1.0 million (2.2%) over the third quarter of 2025;A net interest margin of 3.62% (eight basis point increase from the linked quarter);A return on average assets and a return on average equity of 1.35% and 14.75%, respectively;Net growth in loans of $78.0 million (or 7.4% annualized) from September 30, 2025;Net growth in total deposits, less brokered deposits of $57.1 million (or 4.8% annualized) from September 30, 2025;An increase in the tangible common equity ratio to 8.65%; andThe payment of a 26 cent per share dividend on common stock on November 14, 2025. “Our fourth-quarter performance marked the culmination of another remarkable year, with our organization excelling on all fundamentals,” said William B. (“Brad”) Kessel, the President and Chief Executive Officer. “Over the past year, we increased tangible book value by 13.3% and delivered near record earnings. Meanwhile, our dividend payout ratio was 32% for the year as we continue to recognize the value of returns to our shareholders. During the fourth quarter, we realized continued net interest margin expansion, strong loan growth and increased non-interest income despite the third quarter reflecting elevated revenue from an annual incentive payment related to our debit card program. In addition, our credit quality metrics remain positive, with watch credits and non-performing assets below historic averages. In anticipation of continued strong earnings, we repurchased shares and executed a tax credit transfer agreement during the fourth quarter which is expected to reduce tax obligations and enhance earnings per share. Looking ahead to 2026, our confidence is bolstered by a robust commercial loan pipeline and our on going strategic initiative to attract and integrate talented bankers into our organization.” Significant item...