GRAND RAPIDS, Mich., Aug. 15, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, announced with great sadness that Michael M. Magee, Jr., current Board member and past Chairman (2013-2024) of the Board of Directors for Independent Bank Corporation and Independent Bank, passed away on August 3, 2025. “The entire Independent Bank community is deeply saddened by Mike’s passing,” said Independent Bank President and CEO, Brad Kessel. “Mike served Indepe ...

INDIANAPOLIS, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Today the Federal Home Loan Bank of Indianapolis (“FHLBank Indianapolis” or “Bank”) announced Jason Blain, senior commercial lender at Grand Rapids-based Independent Bank, was awarded the 2025 Community Spirit Award honoring exceptional contributions to affordable housing and community development in Michigan. Community Spirit legacySince the award’s inception in 2007, FHLBank Indianapolis — a regional, wholesale bank cooperative and part of the Federal Home L ...

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2025 Commission file number 0-7818 (State or jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification Number) 4200 East Beltline, Grand Rapids, Michigan 49525 (Address of principal executive offices) (616) 527-5820 (Registrant's telephone number, including area code) NONE INDEPENDENT BANK CORP ...

Core Viewpoint - Independent Bank Corporation reported solid second quarter results for 2025, emphasizing its mission to inspire financial independence and confidence in managing finances [5]. Group 1: Company Overview - The conference call was hosted by William Bradford Kessel, the President and CEO, along with Gavin Mohr, the CFO, and Joel Rahn, the EVP of Commercial Banking [3]. - The agenda included prepared remarks, a question-and-answer session, and closing remarks [4]. Group 2: Financial Performance - The company expressed satisfaction with its second quarter results, indicating progress towards its long-term vision [5].

Financial Data and Key Metrics Changes - The company reported a net income of $16.9 million or $0.81 per diluted share for Q2 2025, compared to $18.5 million or $0.88 per diluted share in the prior year period [4] - Net interest income increased by $3.3 million from the year-ago period, with a tax equivalent net interest margin of 3.58% in Q2 2025, up from 3.4% in Q2 2024 [15][16] - The return on average assets was 1.27% and return on average equity was 14.66% [5] Business Line Data and Key Metrics Changes - Overall loans increased by 9% annualized, with commercial loan generation growing by $75.8 million or 15.3% on an annualized basis [5][9] - The residential mortgage portfolio grew by $15.6 million, while the installment loan portfolio saw slight growth [10] - Non-interest income totaled $11.3 million in Q2 2025, down from $15.2 million in the year-ago quarter [20][24] Market Data and Key Metrics Changes - Total deposits as of June 30, 2025, were $4.7 billion, with core deposits decreasing by $15.7 million during the quarter [8] - Retail deposits decreased by $13.8 million, while business deposits increased by $60.5 million [8] - The allowance for credit losses was 1.47% of total loans, with non-performing assets at 16 basis points of total assets [5][13] Company Strategy and Development Direction - The company aims to continue investing in its team, leveraging technology, and supporting communities [26] - There is a focus on organic growth as the primary driver, with interest in acquired growth where it makes sense [47] - The company is optimistic about growth prospects for the remainder of 2025 and into 2026 [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining margin expansion despite potential rate cuts, indicating a stable outlook for the second half of the year [28] - The company noted strong credit quality metrics, with low levels of non-performing loans and charge-offs [5][13] - Management highlighted the resilience of local economies, particularly in West Michigan and Metro Detroit, with strong homebuilding and manufacturing sectors [38][39] Other Important Information - The company repurchased 251,183 shares of common stock for an aggregate purchase price of $7.3 million in Q2 2025 [25] - New technologies, including AI chat functions, were implemented to enhance customer service and operational efficiency [66] Q&A Session Summary Question: Outlook for margin in the second half of the year - Management indicated confidence in the margin forecast, factoring in potential rate cuts [28] Question: Room to lower deposit costs - Management suggested that deposit costs are likely at a plateau, with limited opportunities for further reduction [29] Question: Competitive landscape against credit unions - Management noted no significant changes benefiting them against credit unions, but expressed hope for regulatory relief [30][32] Question: Local economies and long-term opportunities - Management highlighted strong performance in West Michigan and Metro Detroit, with a focus on the automotive sector [36][38] Question: M&A activity and appetite for inorganic growth - Management acknowledged increased M&A activity in Michigan but emphasized organic growth as the primary focus [47] Question: Margin trends and mortgage loan volume - Management noted competitive pressures affecting mortgage loan margins but remained optimistic about future trends [56]

Earnings Call: Second Quarter 2025 July 24, 2025 (NASDAQ: IBCP) Cautionary note regarding forward-looking statements This presentation contains forward-looking statements, which are any statements or information that are not historical facts. These forward-looking statements include statements about our anticipated future revenue and expenses and our future plans and prospects. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ mat ...

Independent Bank (IBCP) came out with quarterly earnings of $0.81 per share, beating the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.88 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +3.85%. A quarter ago, it was expected that this bank holding company would post earnings of $0.7 per share when it actually produced earnings of $0.74, delivering a surprise of +5.71%.Over the last four quarters, ...

Exhibit 99.1 NEWS RELEASE Independent Bank Corporation 4200 East Beltline Grand Rapids, MI 49525 616.527.5820 Operating Results bankers to join the Independent Bank team. During the second quarter, we rolled out several new technologies to make banking easier for both our customers and associates serving our customers. For all these reasons, I am optimistic about our prospects for growth in the balance of 2025 and 2026." Significant items impacting comparable second quarter 2025 and 2024 results include the ...

Core Points - Independent Bank Corporation reported a net income of $16.9 million, or $0.81 per diluted share, for the second quarter of 2025, a decrease from $18.5 million, or $0.88 per diluted share, in the same period last year [1][2][30] - The company experienced a 9.0% annualized increase in loans, while core deposits decreased by 1.4% due to seasonality [2][4] - Net interest income rose to $44.6 million, marking a 7.9% increase year-over-year and a 2.1% increase from the previous quarter [3][30] - The net interest margin improved to 3.58%, up from 3.40% in the prior year [3][32] - Non-interest income decreased to $11.3 million from $15.2 million in the prior year, primarily due to a lack of gains on equity securities [6][30] - The provision for credit losses was $1.5 million, compared to $0.02 million in the same quarter last year [13][30] - Total assets increased to $5.42 billion, with loans at $4.16 billion and deposits at $4.66 billion [14][15][30] - The company maintained strong credit metrics, with non-performing assets at 0.16% of total assets and a low net charge-off rate of 0.02% [11][13] - Shareholders' equity rose to $469.3 million, representing 8.66% of total assets, with tangible common equity at $21.23 per share [16][30] - The company authorized a share repurchase plan for up to 1,100,000 shares, with 252,276 shares repurchased for $7.36 million during the first half of 2025 [18][30] Financial Performance - Net interest income for the second quarter of 2025 was $44.6 million, an increase of $3.3 million from the previous year [3][30] - Non-interest expenses totaled $33.8 million, slightly up from $33.3 million in the prior year [9][30] - The company recorded a net income of $16.9 million for the quarter, reflecting a decrease from the previous year's $18.5 million [1][30] - The efficiency ratio improved to 59.67% from 62.20% in the previous quarter [32] Asset Quality - Total non-performing loans amounted to $8.2 million, with a ratio of non-performing loans to total portfolio loans at 0.20% [11][30] - The allowance for credit losses was 1.47% of total loans, indicating strong coverage for potential losses [13][30] Capital and Liquidity - The company reported total shareholders' equity of $469.3 million, with a tangible common equity ratio of 8.16% [16][30] - Independent Bank remains significantly above "well capitalized" standards for regulatory purposes [17][30] - The company had unused credit lines of approximately $1.02 billion with the FHLB and $484.6 million with the FRB [17][30]

Wall Street expects a year-over-year decline in earnings on lower revenues when Independent Bank (IBCP) reports results for the quarter ended June 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 24. On ...