Independent Bank Corporation (NASDAQ:IBCP) Q1 2023 Results Conference Call April 27, 2023 11:00 AM ET Company Participants Brad Kessel - President and CEO Gavin Mohr - EVP and CFO Joel Rahn - EVP, Commercial Banking for Independent Conference Call Participants Brendan Nosal - Piper Sandler Erik Zwick - Hovde Group Matt Renck - KBW Manuel Navas - D.A. Davidson Operator Hello, everyone, and welcome to the Independent Bank Corporation Reports 2023 First Quarter Results. My name is Emily, and I'll be coordinat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K x Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2022 or o Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from _____________to_____________ Commission file number 0-7818 INDEPENDENT BANK CORPORATION (Exact name of Registrant as specified in its charter) Michigan 38-2032782 (State or o ...

Independent Bank Corporation (NASDAQ:IBCP) Q4 2022 Earnings Conference Call January 26, 2023 11:00 AM ET Company Participants William Kessel - President & CEO Joel Rahn - EVP & Head of Commercial Banking Gavin Mohr - EVP & CFO Conference Call Participants Erik Zwick - Hovde Group Matthew Renck - KBW Brendan Nosal - Piper Sandler Operator Welcome and thank you for joining the Independent Bank Corporation 2022 Fourth Quarter and Full Year Earnings Call. At this time, all participants are in a listen-only mode ...

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 September 30, 2022 Commission file number 0-7818 INDEPENDENT BANK CORPORATION (Exact name of registrant as specified in its charter) Michigan 38-2032782 (State or jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification Number) 4200 East Beltline, Grand Rapids, Michigan 49525 (Address of principal exec ...

Financial Data and Key Metrics Changes - The company reported Q3 2022 net income of $17.3 million, or $0.81 per diluted share, compared to $16 million, or $0.73 per diluted share in the prior year, representing increases of 8.4% in net income and 11% in diluted earnings per share [4] - For the nine months ended September 30, 2022, net income was $48.3 million, or $2.27 per diluted share, compared to $50.4 million, or $2.30 per diluted share in the prior year [7] - The annualized return on average assets and return on average equity for Q3 2022 were 1.40% and 20.48%, respectively [4] Business Line Data and Key Metrics Changes - The company experienced a $3.8 million growth in net interest income and a 23 basis point expansion in net interest margin on a linked quarter basis [5] - The total loan portfolio grew by $151 million in Q3 2022, with the commercial portfolio increasing by $79 million, reflecting a 22.7% annualized growth rate for the first nine months of the year [12] - The mortgage portfolio increased by $71 million during Q3 2022, while consumer installment lending saw a modest increase of $1.3 million [13] Market Data and Key Metrics Changes - Total deposits increased by 3.4% during Q3 2022, totaling $4.3 billion, an increase of $209.9 million from the start of the year [9] - The company noted a strong municipal segment that continues to have significant cash levels and funds coming in from the federal government, contributing to deposit growth [40] Company Strategy and Development Direction - The company aims to rotate its earning and asset mix from lower-yielding investments to higher-yielding loans while growing its deposit base and managing costs [35] - The focus remains on capitalizing on business investments in Michigan, particularly in the electric vehicle and clean energy sectors, which are driving job growth and business formation [6][36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about loan growth prospects due to significant investments in Michigan's electric vehicle and clean energy industries [45] - Despite concerns about a potential economic slowdown, the company continues to see healthy economic conditions and loan demand in Michigan [36] Other Important Information - Non-interest income totaled $16.9 million in Q3 2022, down from $19.7 million in the year-ago quarter, primarily due to decreased mortgage loan sales volume [24] - The effective income tax rate for Q3 2022 was 18.6%, at the lower end of the forecast [32] Q&A Session Summary Question: Trends in deposit balances given the current rate environment - Management noted continued success in growing the deposit base but acknowledged increasing competition [39] Question: Areas of the loan book being monitored closely - Management indicated a focus on maintaining a granular portfolio and mentioned tempering back on certain segments, particularly in the RV segment [46] Question: Expectations for non-interest expenses and budget for 2023 - Management expressed confidence in staying within the targeted range for non-interest expenses while acknowledging inflation pressures [52] Question: Capital allocation and share repurchases - The focus remains on loan growth, with no share buybacks in Q3 2022 as capital is preserved for growth opportunities [53]

Be Independent | --- | --- | --- | --- | |-------|--------------------|------------------------------|-------| | | | | | | | | | | | | | Independent Bank Corporation | | | | | | | | | Earnings Call | | | | | Third Quarter 2022 | | | | | October 25, 2022 | | | | | | | | | | (NASDAQ: IBCP) | | | 2 Cautionary note regarding forward-looking statements This presentation contains forward-looking statements about Independent Bank Corporation. Statements that are not historical or current facts, including statement ...

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, 2022 Commission file number 0-7818 INDEPENDENT BANK CORPORATION (Exact name of registrant as specified in its charter) Michigan 38-2032782 (State or jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification Number) | Title of each Class | Trading Symbol | Name of each exchange which registered ...

Independent Bank Corporation (NASDAQ:IBCP) Q2 2022 Earnings Conference Call July 26, 2022 11:00 AM ET Company Participants Brad Kessel - President and Chief Executive Officer Joel Rahn - Executive Vice President and Head of Commercial Banking Gavin Mohr - Executive Vice President and Chief Financial Officer Conference Call Participants Brendan Nosal - Piper Sandler Matt Rank - KBW Operator Good morning. Ladies and gentlemen thank you for joining. Welcome to the Independent Bank Corporation Second Quarter 20 ...

Be Independent | --- | --- | --- | --- | |-------|---------------------|------------------------------|-------| | | | | | | | | | | | | | Independent Bank Corporation | | | | | | | | | Earnings Call | | | | | Second Quarter 2022 | | | | | July 26, 2022 | | | | | | | | | | (NASDAQ: IBCP) | | | 2 Cautionary note regarding forward-looking statements This presentation contains forward-looking statements about Independent Bank Corporation. Statements that are not historical or current facts, including statements ...

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 March 31, 2022 Commission file number 0-7818 INDEPENDENT BANK CORPORATION | (Exact name of registrant as specified in its charter) | | | | --- | --- | --- | | Michigan | | 38-2032782 | | (State or jurisdiction of Incorporation or Organization) | | (I.R.S. Employer Identification Number) | | 4200 East Beltline, Grand Rapids, ...