INDEPENDENT BANK CORP /MI/ (IBCP) Form 10-Q — Nov 4, 2026
Independent Bank Corporation reported Q3 2026 net income of $17.85 million ($0.80 diluted EPS), up from $17.50 million a year ago, though EPS was diluted from $0.84 due to 1.59 million shares issued for the HCB Financial Corp. acquisition completed July 1, 2026. Net interest income jumped 22% to $55.3 million, boosted by the acquisition, while the provision for credit losses rose to $4.8 million and merger-related expenses of $3.5 million weighed on the quarter.
Key figures
- Eps
- 0.8
- Revenue
- Net interest income $55.257 million for Q3 2026 (vs $45.361 million Q3 2025)
- Net Income
- 17850000
- Total Debt
- Other borrowings $4.009 million plus subordinated debentures $39.915 million
- Total Assets
- 6263632000
- Cash Position
- 181815000
- Shares Outstanding
- 22081450
- Total loans
- 4897149000
- Total deposits
- 5521392000
- Merger expense q3
- 3457000
- Nonperforming loans
- 39161000
- Shares issued for hcb
- 1589895
- Dividends per share q3
- 0.28
- Cet1 ratio consolidated
- 11.23%
- Diluted eps prior year q3
- 0.84
- Allowance for credit losses
- 73724000
- Hcb acquisition stock issued
- 57347000
- Hcb acquisition cash acquired
- 132289000
- Provision for credit losses q3
- 4807000
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