GRAND RAPIDS, Mich., Jan. 02, 2026 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that it has promoted Mike Stodolak to Executive Vice President, Retail Banking. Most recently, Mr. Stodolak was the Senior Vice President, Market President at Independent Bank. The Bank also announced the upcoming retirement of current Executive Vice President, Retail Banking, Russ Daniel. Mr. Stodolak has worked in the financ ...

Core Viewpoint - Independent Bank Corporation is set to release its fourth quarter results for 2025 on January 22, 2026, at 8:00 am ET, with a conference call scheduled for 11:00 am ET on the same day to discuss the results [1][2]. Group 1: Company Overview - Independent Bank Corporation is a Michigan-based bank holding company with total assets of approximately $5.5 billion [3]. - The company operates a branch network across Michigan's Lower Peninsula through its state-chartered bank subsidiary, Independent Bank, which offers a full range of financial services including commercial banking, mortgage lending, investments, insurance, and title services [3]. - Founded in 1864 as First National Bank of Ionia, the company is committed to providing exceptional personal service and value to its customers, stockholders, and the communities it serves [3]. Group 2: Upcoming Events - The fourth quarter results will be available on the company's website in the "News" section of the "Investor Relations" area [1]. - Investors and analysts can access the conference call by registering through a provided link, which will give them a phone number and access code [2]. - A replay of the conference call webcast will be available until January 22, 2027 [2].

GRAND RAPIDS, Mich., Dec. 19, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that its Board of Directors has appointed Michael G. Wooldridge to the boards of the Corporation and the Bank. Mr. Wooldridge was formerly a partner with the Varnum law firm where he concentrated on corporate governance, securities, and mergers & acquisitions, representing publicly traded clients on governance and securities c ...

GRAND RAPIDS, Mich., Dec. 16, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that its Board of Directors authorized a 2026 share repurchase plan on December 16, 2025. Under the terms of the 2026 share repurchase plan, the Company is authorized to buy back up to 1,100,000 shares, representing approximately 5% of its common stock. The 2026 share repurchase plan is authorized to last through December 31, ...

Core Viewpoint - Independent Bank is positioned as a more favorable investment compared to Peoples Bancorp based on various financial metrics and analyst recommendations [11] Profitability - Independent Bank has a net margin of 21.25%, return on equity of 14.76%, and return on assets of 1.28% - Peoples Bancorp has a net margin of 16.57%, return on equity of 9.45%, and return on assets of 1.15% [2] Institutional and Insider Ownership - 79.4% of Independent Bank shares are owned by institutional investors, while 60.7% of Peoples Bancorp shares are owned by institutional investors - Company insiders own 5.7% of Independent Bank shares compared to 3.4% for Peoples Bancorp [3] Valuation and Earnings - Independent Bank's gross revenue is $222.04 million with a price/sales ratio of 2.93, net income of $66.79 million, earnings per share (EPS) of $3.26, and a price/earnings (P/E) ratio of 9.65 - Peoples Bancorp has gross revenue of $447.86 million with a price/sales ratio of 2.34, net income of $117.21 million, EPS of $2.86, and a P/E ratio of 10.28 - Independent Bank is trading at a lower P/E ratio, indicating it is more affordable [5][6] Analyst Recommendations - Independent Bank has a consensus target price of $36.00, suggesting a potential upside of 14.43%, while Peoples Bancorp has a target price of $33.13 with a potential upside of 12.63% - Analysts rate Independent Bank more favorably due to its higher potential upside [8] Dividends - Independent Bank pays an annual dividend of $1.04 per share with a dividend yield of 3.3%, distributing 31.9% of its earnings as dividends - Peoples Bancorp pays an annual dividend of $1.64 per share with a dividend yield of 5.6%, distributing 57.3% of its earnings as dividends - Both companies have a history of increasing dividends, with Independent Bank increasing for 11 consecutive years and Peoples Bancorp for 10 consecutive years [9] Volatility & Risk - Independent Bank has a beta of 0.86, indicating it is 14% less volatile than the S&P 500 - Peoples Bancorp has a beta of 0.7, indicating it is 30% less volatile than the S&P 500 [10]

Financial Performance - Net income for Q3 2025 was $17.5 million, up from $13.8 million in Q3 2024, reflecting a 27% increase[204]. - Year-to-date net income for the first nine months of 2025 was $50.0 million, compared to $48.3 million in the same period of 2024, representing a 3.5% increase[205]. - Basic net income per common share for Q3 2025 was $0.85, compared to $0.66 in Q3 2024, a 28.8% increase[206]. - Non-interest income totaled $11.9 million in Q3 2025, up from $9.5 million in Q3 2024, while year-to-date non-interest income decreased to $33.7 million from $37.2 million[224]. - The company recorded a net loss of $0.36 million on the sale of securities AFS for the first nine months of 2025, compared to a loss of $0.41 million in 2024[233]. Interest Income and Margin - Net interest income for Q3 2025 totaled $45.4 million, an increase of $3.5 million or 8.4% from Q3 2024[208]. - For the first nine months of 2025, net interest income was $133.7 million, up $10.3 million or 8.3% from the same period in 2024[209]. - The net interest margin for Q3 2025 was 3.54%, compared to 3.37% in Q3 2024, indicating improved efficiency[214]. - The net interest margin (Non-GAAP FTE) for the nine months ended September 30, 2025, was 3.54%, compared to 3.35% in 2024[218]. Asset and Equity Growth - Total assets increased to $5,385,238 thousand in 2025 from $5,219,668 thousand in 2024, reflecting growth in the company's balance sheet[216]. - Shareholders' equity rose to $466,533 thousand in 2025, up from $418,688 thousand in 2024, indicating improved financial stability[216]. - Total shareholders' equity grew to $490.7 million at September 30, 2025, from $454.7 million at December 31, 2024, primarily due to earnings retention[293]. Loan and Credit Quality - Non-accrual loans averaged $10.8 million in Q3 2025, up from $4.5 million in Q3 2024[212]. - The provision for credit losses increased by $2.0 million in the first nine months of 2025 compared to the same period in 2024[205]. - The total loans increased to $4,198,283,000 as of September 30, 2025, compared to $4,038,825,000 at December 31, 2024, reflecting a growth of approximately 3.95%[265]. - Non-performing loans rose to $20,355,000, representing 0.48% of total portfolio loans, up from 0.15% at December 31, 2024[267]. - The allowance for credit losses (ACL) on loans increased to $62,459,000 at September 30, 2025, from $59,379,000 at December 31, 2024, equating to 1.49% of total portfolio loans[272]. Deposits and Funding - Deposits totaled $4.86 billion at September 30, 2025, an increase of $205.1 million from December 31, 2024[254]. - Core deposits increased to $4.86 billion as of September 30, 2025, from $4.65 billion at December 31, 2024, driven by growth in savings and interest-bearing checking accounts[275]. - Uninsured deposits rose to $1,139,186 thousand, representing 24.3% of total deposits as of September 30, 2025, compared to 23.3% at December 31, 2024[277]. Expenses and Cost Management - Total non-interest expense increased by $1.5 million to $34.1 million in Q3 2025 and by $4.0 million to $102.2 million for the first nine months of 2025 compared to the same periods in 2024[240]. - Compensation and employee benefits expenses increased by $1.1 million in Q3 2025 and by $0.6 million for the first nine months of 2025 compared to the same periods in 2024[242]. Securities and Investments - Securities available for sale had a fair value of $502.6 million as of September 30, 2025, down from $559.2 million at December 31, 2024[257]. - As of September 30, 2025, the carrying value of securities held to maturity is $321,450,000, with unrealized losses of $13,766,000[258]. - The company recorded net losses of $36,000 on sales of securities available for sale during the three months ended September 30, 2025[261]. Risk Management and Controls - The maximum estimated additional losses from litigation matters are considered insignificant, although outcomes remain uncertain[306]. - The company has not experienced material changes in its critical accounting policies since the last annual report[313]. - There were no changes in internal controls over financial reporting that materially affected the company's reporting during the quarter ended September 30, 2025[319]. - The company’s disclosure controls and procedures were evaluated as effective as of September 30, 2025[318].

Financial Data and Key Metrics Changes - The company reported a net income of $17.5 million or $0.84 per diluted share for Q3 2025, compared to $13.8 million or $0.65 per diluted share in the prior year period, reflecting a significant year-over-year increase [3] - Loan balances grew at an annualized rate of 3.2%, while total deposits, excluding brokered time deposits, increased by 13% annualized [3] - The efficiency ratio for Q3 2025 was 58.86%, indicating effective expense management [4] - The return on average assets was 1.27% and return on average equity was 14.57% for the quarter [4] Business Line Data and Key Metrics Changes - The commercial loan portfolio increased by $57 million during the quarter, contributing to a year-to-date growth of $188 million or 12.9% annualized [8] - The mortgage and consumer loan portfolios contracted during the quarter due to seasonality and disciplined underwriting [8] - Non-interest income totaled $11.9 million in Q3 2025, up from $9.5 million in the year-ago quarter [14] Market Data and Key Metrics Changes - Total deposits as of September 30, 2025, were $4.9 billion, with core deposits increasing by $148.2 million during the third quarter [5][6] - The deposit base comprised 46% retail, 37% commercial, and 17% municipal, all showing year-over-year growth [7] Company Strategy and Development Direction - The company aims to continue investing in its team and technology while striving to be Michigan's most people-focused bank [19] - The focus remains on growing commercial banking relationships and leveraging market dislocation opportunities [26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about finishing 2025 strong and growing the customer base and earnings in 2026 [5] - The credit quality remains strong, with low levels of watch credits and historically low net charge-offs [4][5] - The Michigan economy is characterized as stable, with no systemic issues observed in the customer base [46][48] Other Important Information - The company repurchased 13,732 shares of common stock for an aggregate purchase price of $0.4 million in Q3 2025 [18] - The effective income tax rate for the quarter was 17.3% [18] Q&A Session Summary Question: Can you offer details on the new commercial banking hires? - The three new hires have a minimum of 15 years of experience, with two having over 20 years, and they were added in Southeast Michigan [25] Question: What opportunities exist from market dislocation? - The company sees ongoing opportunities to attract talent and commercial banking relationships as the industry consolidates [26] Question: How competitive is the environment for core funding? - The funding environment is competitive, with a focus on comprehensive relationships to grow both sides of the balance sheet [30] Question: Can you comment on the margin outlook? - The margin is expected to remain stable despite potential Fed cuts, with benefits from asset remixing and repricing effects [37] Question: Are there signs of credit weakness in commercial borrowers? - Performance at the individual business level remains solid, with no systemic issues observed, and the watchlist percentage is low [46]

Financial Data and Key Metrics Changes - The company reported a net income of $17.5 million or $0.84 per diluted share for Q3 2025, compared to $13.8 million or $0.65 per diluted share in the prior year period, reflecting a significant year-over-year increase [3] - Loan balances grew at an annualized rate of 3.2%, while total deposits, excluding brokered time deposits, increased by 13% annualized [3] - The efficiency ratio for Q3 2025 was 58.86%, indicating effective expense management [4] - The return on average assets was 1.27% and return on average equity was 14.57% for the quarter [4] Business Line Data and Key Metrics Changes - The commercial loan portfolio increased by $57 million during the quarter, contributing to a year-to-date growth of $188 million or 12.9% annualized [8] - The mortgage and consumer loan portfolios contracted during the quarter due to seasonality and disciplined underwriting [8] - Non-interest income totaled $11.9 million in Q3 2025, up from $9.5 million in the year-ago quarter [15] Market Data and Key Metrics Changes - Total deposits as of September 30, 2025, were $4.9 billion, with core deposits increasing by $148.2 million during the third quarter [5] - The deposit base comprised 46% retail, 37% commercial, and 17% municipal, all showing year-over-year growth [5] Company Strategy and Development Direction - The company aims to continue investing in its team and technology while striving to be Michigan's most people-focused bank [20] - The focus remains on growing the commercial banking segment and enhancing customer relationships [24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about finishing 2025 strong and growing the customer base and earnings in 2026 [5] - The credit quality remains strong, with low levels of watch credits and historically low net charge-offs [4][10] Other Important Information - Non-performing assets increased from 0.16% to 0.38% of total assets quarter-over-quarter, primarily due to one commercial relationship facing financial difficulties [5] - The effective income tax rate for Q3 2025 was 17.3% [19] Q&A Session Summary Question: Can you provide details on the new commercial banking hires? - The three new hires have a minimum of 15 years of experience, with two having over 20 years, and they were added in Southeast Michigan [23] Question: What opportunities exist from market dislocation? - The company sees ongoing opportunities for talent acquisition and commercial banking relationships as the industry consolidates [24] Question: How competitive is the environment for core funding? - The funding environment is competitive, with a focus on comprehensive relationships to grow both sides of the balance sheet [27] Question: Can you comment on the margin outlook? - The margin is expected to remain stable despite potential Fed cuts, with benefits from asset repricing and a shift in asset mix [31] Question: What is the status of credit quality? - There is one primary borrower in distress, but overall credit quality remains solid, with no systemic issues observed [41]

Core Insights - Independent Bank (IBCP) reported revenue of $57.3 million for the quarter ended September 2025, reflecting an 11.6% increase year-over-year, although it was a -1.55% surprise compared to the Zacks Consensus Estimate of $58.2 million [1] - Earnings per share (EPS) for the quarter was $0.84, up from $0.65 in the same quarter last year, resulting in a +1.2% surprise over the consensus EPS estimate of $0.83 [1] Financial Performance Metrics - Net Interest Margin (GAAP) was reported at 3.5%, slightly below the two-analyst average estimate of 3.6% [4] - Efficiency Ratio stood at 58.9%, better than the average estimate of 59.6% based on two analysts [4] - Total non-interest income was $11.94 million, compared to the average estimate of $12.43 million [4] - Net Interest Income was reported at $45.36 million, below the average estimate of $45.83 million [4] Stock Performance - Shares of Independent Bank have returned +2.9% over the past month, while the Zacks S&P 500 composite has changed by +3.6% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Agenda • Formal Remarks Earnings Call: Third Quarter 2025 October 28, 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 ac ...