---
title: "INDEPENDENT BANK CORP /MI/ 1Q 2026: Revenue $58.9M, Net income $16.9M, EPS $0.81— 10-Q Summary"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285401317.md"
description: "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."
datetime: "2026-05-06T15:01:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285401317.md)
  - [en](https://longbridge.com/en/news/285401317.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285401317.md)
---

# INDEPENDENT BANK CORP /MI/ 1Q 2026: Revenue $58.9M, Net income $16.9M, EPS $0.81— 10-Q Summary

INDEPENDENT BANK CORP /MI/ reported first-quarter 2026 results with revenue of $58.9M, net income of $16.9M and diluted EPS of $0.81, each up versus the year-ago quarter.

**Financial Highlights**

-   Revenue was $58.9M (Net interest income $46.9M + Non‑interest income $12.0M), compared with $54.1M in 1Q 2025 (Net interest income $43.7M + Non‑interest income $10.4M); YoY change 8.9%.
-   Net income was $16.9M, compared with $15.6M in 1Q 2025; YoY change 8.3%.
-   Diluted EPS was $0.81, compared with $0.74 in 1Q 2025; YoY change 9.5%.

**Business Highlights**

-   Revenue growth was driven by $3.2M higher net interest income and improved mortgage servicing fair value.
-   Commercial loan originations increased, funded in part by reductions in interest-bearing cash and securities; mortgage refinance originations rose.
-   Non-interest income rose to $12.0M, supported by stable interchange and deposit service fees, contributing to diversified revenue.
-   Recorded $0.3M of merger costs in 1Q 2026 related to a definitive agreement to acquire HCB, a deal expected to close in Q3 2026.
-   Asset/liability strategy shifted toward lower-cost non-maturity deposits and variable-rate commercial loans, reducing interest expense and duration.

Original SEC Filing: INDEPENDENT BANK CORP /MI/ \[ IBCP \] - 10-Q - May. 06, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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