INDEPENDENT BANK CORP /MI/ 1Q 2026: Revenue $58.9M, Net income $16.9M, EPS $0.81— 10-Q Summary
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INDEPENDENT BANK CORP /MI/ reported its 1Q 2026 results, showing revenue of $58.9M, net income of $16.9M, and diluted EPS of $0.81, all reflecting year-over-year increases. Revenue grew by 8.9% from 1Q 2025, driven by higher net interest income and improved mortgage servicing. The bank also recorded $0.3M in merger costs related to the acquisition of HCB, expected to close in Q3 2026. The asset/liability strategy has shifted towards lower-cost deposits and variable-rate loans, reducing interest expenses.
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