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Independent Bank
Independent Bank (IBCP) investor relations material
Independent Bank Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary22 Jan, 2026
Executive summary
Reported Q4 2025 net income of $18.6M ($0.89/diluted share), up from $18.5M ($0.87) in Q4 2024; full-year 2025 net income of $68.5M ($3.27/share), up from $66.8M ($3.16) in 2024.
Tangible book value per share increased 13.3%-13.4% year-over-year.
Achieved strong profitability, prudent balance sheet management, and maintained robust credit quality.
Continued focus on commercial loan growth, talent acquisition, and shareholder returns through dividends and share repurchases.
Board authorized a 5% stock repurchase plan for 2026; 407,113 shares repurchased for $12.4M in 2025.
Financial highlights
Net interest income for Q4 2025 was $46.4M, up 8.2% year-over-year and 2.2% sequentially; net interest margin at 3.62%, up 17 bps YoY and 8 bps QoQ.
Return on average assets at 1.35% and return on average equity at 14.75% for Q4 2025.
Loans grew $78M (7.4% annualized) from Q3 2025; deposits (excluding brokered) up $57.5M (4.8% annualized).
Tangible common equity ratio increased to 8.65% at year-end 2025.
Efficiency ratio for Q4 2025 was 61.2%.
Outlook and guidance
2026 loan growth targeted at 4.5%-5.5%, led by 9%-11% commercial loan growth; mortgage flat, installment loans declining.
Net interest income forecasted to grow 7%-8% in 2026; NIM expected to expand 18-23 bps year-over-year.
Non-interest income projected to rise 3%-4% in 2026; non-interest expense to increase 5%-6% due to higher compensation and benefits.
Provision for credit losses expected at 20-25 bps of average loans; effective tax rate around 17%.
Board authorized share repurchases up to 5% in 2026, but none currently modeled.
NPL outlook beyond the identified commercial loan
MSR strategy and non-interest income diversification
Drivers of the large unfunded commitments increase
What drives 2026 mid-single-digit loan growth?
Key drivers for 2026 NIM expansion outlook
Long-term balance sheet repositioning strategy
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Next Independent Bank earnings date
Q1 202623 Apr, 2026
Independent Bank
Next Independent Bank earnings date
Q1 202623 Apr, 2026
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Frequently asked questions
Independent Bank Corporation is a bank holding company operating through its subsidiary, Independent Bank. The company offers personal and business banking services, mortgage lending, and investment services primarily within Michigan. It delivers financial products through a network of branches and digital platforms. Independent Bank Corporation is headquartered in Grand Rapids, Michigan, and its shares are listed on the NASDAQ.
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