)
Overview
<ul>
<li>Michigan bank’s Q4 net income slightly up from prior year</li>
<li>Net interest income for Q4 rose 8.2% yr/yr</li>
<li>Company authorized 2026 share repurchase plan for up to 1.1 mln shares</li>
</ul>
Outlook
<ul>
<li>Company anticipates strong earnings supported by a robust commercial loan pipeline</li>
<li>Independent Bank authorized 2026 share repurchase plan for up to 1.1 mln shares</li>
<li>Company expects tax credit transfer agreement to enhance earnings per share</li>
</ul>
Result Drivers
<ul>
<li>NET INTEREST INCOME - Increase driven by higher net interest margin and average earnings assets</li>
<li>COMMERCIAL LOAN GROWTH - Growth in loans, especially commercial, supported results</li>
<li>TAX CREDIT BENEFIT - Tax credit transfer agreement provided $1.8 mln benefit</li>
</ul>
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
<h3>Q4 EPS $0.89</h3>
Q4 Net $18.60
Income mln
Q4 Net $46.40
Interest mln
Income
Analyst Coverage
<ul>
<li>The current average analyst rating on the shares is “hold” and the breakdown of recommendations is no “strong buy” or “buy”, 5 “hold” and no “sell” or “strong sell”</li>
<li>The average consensus recommendation for the banks peer group is “buy.”</li>
<li>Wall Street’s median 12-month price target for Independent Bank Corp (Michigan) is $36.00, about 2.7% above its January 21 closing price of $35.05</li>
<li>The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago</li>
</ul>
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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Independent Bank Michigan Q4 net income rises slightly