Brendan Nosal

Matthew Renck

Peter Winter

Adam Kroll

Adam Carol

Damon Del Monte

John Rodis

Nathan Race

- IBCP reported **net income of $17.5 million** and **diluted earnings per share of $0.84** for Q3 2025.  **[0000039311_2207527:1]** **[0000039311_2207527:20]** **[0000039311_2207527:24]** 
- The company's **net interest income increased by $3.5 million** over the prior year quarter  **[0000039311_2207527:1]** , reaching **$45.4 million**  **[0000039311_2207527:10]** **[0000039311_2207527:24]** , with a **net interest margin (FTE) of 3.54%**.  **[0000039311_2207527:1]** **[0000039311_2207527:8]** **[0000039311_2207527:20]** 
- **Total loans increased 3.2% annualized** in Q3 2025, driven by **10.9% annualized commercial loan growth**.  **[0000039311_2207527:1]** 
- Asset quality remained exceptional, with **NPAs/Total Assets at 0.38%** and **Net Charge-Offs (NCO) of 0.07% of average loans**.  **[0000039311_2207527:1]** 
- For the full year 2025, IBCP forecasts **mid-single digit (5%-6%) overall loan growth** and **high-single digit (8%-9%) net interest income growth**.  **[0000039311_2207527:16]**

IBCP Announces Q3 2025 Results and 2025 Outlook

- Independent Bank Corporation (IBCP) reported **net income of $17.5 million** or **$0.84 per diluted share** for the third quarter of 2025.  **[0000039311_2208429_1]** 
- **Loan balances grew at an annualized rate of 3.2%**, with commercial loans increasing by **$57 million** in the quarter, and total deposits (excluding brokered time deposits) increased by **13% annualized**.  **[0000039311_2208429_1]** **[0000039311_2208429_3]** 
- Net interest income increased for the ninth consecutive quarter, and the tax equivalent net interest margin was **3.54%** in Q3 2025, with a small decline on a linked quarter basis primarily due to the acceleration of unamortized issuance costs on redeemed subordinated debt.  **[0000039311_2208429_1]** **[0000039311_2208429_4]** 
- Credit quality remains strong with annualized net charge-offs at **4 basis points** through the first three quarters of 2025, though non-performing assets increased from **0.16% to 0.38%** of total assets due to one commercial relationship.  **[0000039311_2208429_1]** 
- Non-interest expense totaled **$34.1 million** in Q3 2025, which was below the forecasted range, and the company repurchased **13,732 shares** of common stock for **$0.4 million**.  **[0000039311_2208429_5]**

Independent Bank Corporation Announces Third Quarter 2025 Results

- Independent Bank Corporation reported **net income of $17.5 million** or **$0.84 per diluted share** for the third quarter of 2025.  **[0000039311_2210553_1]** 
- **Loan balances grew at an annualized rate of 3.2%** and **total deposits (less brokered time deposits) increased by 13% annualized** in Q3 2025.  **[0000039311_2210553_1]** 
- Net interest income increased for the **ninth consecutive quarter**, with a net interest margin of **3.54%** in Q3 2025, down four basis points from the prior quarter primarily due to the acceleration of unamortized issuance costs on redeemed subordinated debt.  **[0000039311_2210553_1]** **[0000039311_2210553_4]** 
- Credit quality remained strong with annualized net charge-offs at **four basis points** through the first three quarters of 2025, though non-performing assets increased to **0.38%** of total assets due to one commercial relationship.  **[0000039311_2210553_1]** 
- The company repurchased **13,732 shares of common stock** for an aggregate purchase price of **$0.4 million** in the third quarter of 2025.  **[0000039311_2210553_5]**

Independent Bank Corporation Reports Third Quarter 2025 Results

- Independent Bank Corporation reported **net income of $17.5 million**, or **$0.84 per diluted share**, for the third quarter of 2025.  **[39311_0000039311-25-000098_ibcp-20251028ex991.htm:0]** **[39311_0000039311-25-000098_ibcp-20251028ex991.htm:5]** **[39311_0000039311-25-000098_ibcp-20251028ex991.htm:6]** 
- The company achieved **net loan growth of $33.9 million (3.2% annualized)** and **net deposit growth (excluding brokered time deposits) of $148.2 million (13.0% annualized)** from June 30, 2025.  **[39311_0000039311-25-000098_ibcp-20251028ex991.htm:0]** 
- Asset quality showed non-performing assets increased to **0.38% of total assets** in Q3 2025, up from 0.16% in the previous quarter, with the allowance for credit losses standing at **1.49% of total loans**.  **[39311_0000039311-25-000098_ibcp-20251028ex991.htm:0]** **[39311_0000039311-25-000098_ibcp-20251028ex992.htm:0]** 
- Key profitability metrics included an efficiency ratio of **58.86%** and a net interest margin of **3.54%** in Q3 2025.  **[39311_0000039311-25-000098_ibcp-20251028ex991.htm:0]** **[39311_0000039311-25-000098_ibcp20253qearningsdeck-f.htm:1]** **[39311_0000039311-25-000098_ibcp-20251028ex991.htm:6]**  The company also redeemed **$40 million of subordinated debt** on August 31, 2025.  **[39311_0000039311-25-000098_ibcp20253qearningsdeck-f.htm:1]** **[39311_0000039311-25-000098_ibcp-20251028ex991.htm:2]**

- Independent Bank Corporation reported **net income of $17.5 million**, or **$0.84 per diluted share**, for the third quarter of 2025, compared to $13.8 million, or $0.65 per diluted share, in the prior-year period.  **[39311_c6d9014940984a20b9171debbfd23691_1]** **[39311_c6d9014940984a20b9171debbfd23691_7]** 
- The company achieved **net growth in total deposits (less brokered time deposits) of $148.2 million (13.0% annualized)** and **net growth in loans of $33.9 million (3.2% annualized)** from June 30, 2025.  **[39311_c6d9014940984a20b9171debbfd23691_0]** 
- **Tangible common equity per share of common stock increased by $1.06 (20.0% annualized)** from June 30, 2025, reaching **$22.29 per share** at September 30, 2025.  **[39311_c6d9014940984a20b9171debbfd23691_0]** **[39311_c6d9014940984a20b9171debbfd23691_11]** 
- For the third quarter of 2025, the **efficiency ratio was 58.86%**, with a **return on average assets of 1.27%** and a **return on average equity of 14.57%**.  **[39311_c6d9014940984a20b9171debbfd23691_1]** **[39311_c6d9014940984a20b9171debbfd23691_9]** 
- A **26 cent per share dividend** on common stock was paid on August 15, 2025, and **266,008 shares** were repurchased for **$7.77 million** during the nine months ended September 30, 2025.  **[39311_c6d9014940984a20b9171debbfd23691_0]** **[39311_c6d9014940984a20b9171debbfd23691_4]**

INDEPENDENT BANK CORP /MI/ (IBCP)