Revenue: As of FY2026 Q2, the actual value is USD 63.24 M.

EPS: As of FY2026 Q2, the actual value is USD 0.9, beating the estimate of USD 0.844.

EBIT: As of FY2026 Q2, the actual value is USD 22.71 M.

Net Income

Independent Bank Corporation reported a net income of $18.8 million, or $0.90 per diluted share, for the second quarter of 2026, compared to $16.9 million, or $0.81 per diluted share, in the prior-year period . For the six months ended June 30, 2026, net income was $35.680 million, an increase from $32.467 million for the same period in 2025 .

Net Interest Income and Margin

Net interest income for the second quarter of 2026 was $47.9 million, an increase of $3.3 million (7.4%) from the year-ago period and $1.0 million (2.2%) from the first quarter of 2026 . The net interest margin was 3.71% in the second quarter of 2026, up from 3.58% in the year-ago period and 3.65% in the first quarter of 2026 . For the six months ended June 30, 2026, net interest income was $95,642 thousand, with a net interest income as a percent of average interest-earning assets of 3.68%, compared to $89,196 thousand and 3.54% for the same period in 2025 .

Operational Metrics

Return on Average Assets (ROAA) was 1.37% for the quarter ended June 30, 2026 . Return on Average Equity (ROAE) was 14.52% for the quarter ended June 30, 2026 . The Efficiency Ratio was 60.64% for the second quarter of 2026, compared to 59.67% in the second quarter of 2025 .

Non-Interest Income

Non-interest income totaled $15.3 million for the second quarter of 2026, an increase from $11.3 million in the comparable prior year period and $12.0 million in the preceding quarter . Key components for the three months ended June 30, 2026, included interchange income of $3,576 thousand, service charges on deposit accounts of $3,100 thousand, net gains on mortgage loans of $1,651 thousand, and mortgage loan servicing, net of $2,460 thousand . Gain on equity securities at fair value was $1.6 million in the second quarter of 2026, primarily due to the exchange of Visa Class B-2 common stock . Mortgage loan servicing, net, generated income of $2.5 million in the second quarter of 2026, compared to $0.5 million in the second quarter of 2025 . For the six months ended June 30, 2026, total non-interest income was $27,382 thousand, compared to $21,749 thousand for the six months ended June 30, 2025 .

Non-Interest Expenses

Non-interest expenses totaled $37.8 million in the second quarter of 2026, up from $33.8 million in the year-ago period, primarily due to increases in compensation and employee benefits, advertising, merger-related expenses, data processing, and a $0.4 million litigation expense . For the three months ended June 30, 2026, total non-interest expense was $37,809 thousand, including $22,560 thousand for compensation and employee benefits, $4,152 thousand for data processing, and $2,073 thousand for occupancy, net . For the six months ended June 30, 2026, total non-interest expense reached $76,120 thousand, compared to $68,024 thousand for the six months ended June 30, 2025 . Compensation and employee benefits for the six months ended June 30, 2026, was $44,389 thousand, up from $41,506 thousand in the prior year period .

Provision for Credit Losses

The provision for credit losses was an expense of $2.72 million in the second quarter of 2026, compared to $1.50 million in the second quarter of 2025 . For the six months ended June 30, 2026, the provision for credit losses for Loans was $2,861 thousand .

Asset Quality

Total non-performing loans were $32.797 million at June 30, 2026, compared to $8.204 million at June 30, 2025 . The ratio of non-performing loans to total portfolio loans was 0.74% at June 30, 2026, compared to 0.20% at June 30, 2025 . Total non-performing assets were $33,507 thousand at June 30, 2026, representing 0.59% of total assets, compared to $8,630 thousand and 0.16% at June 30, 2025 . The allowance for credit losses totaled $65.7 million, or 1.49% of total portfolio loans, at June 30, 2026, compared to $63.4 million, or 1.48% of total portfolio loans, at December 31, 2025 . The allowance for credit losses was 200.24% of non-performing loans as of June 30, 2026 . For the six months ended June 30, 2026, the balance of allowance for credit losses for Loans was $65,673 thousand, up from $63,445 thousand at the beginning of the period .

Balance Sheet

Total assets were $5.66 billion at June 30, 2026, an increase of $158.1 million from $5.505 billion at December 31, 2025 . Loans (excluding held for sale) were $4.41 billion at June 30, 2026, compared to $4.28 billion at December 31, 2025, representing net loan growth of $105.8 million (9.8% annualized) from March 31, 2026 . Total deposits were $4.86 billion at June 30, 2026, an increase of $100.5 million from December 31, 2025 . Cash and cash equivalents were $165.5 million at June 30, 2026, versus $138.4 million at December 31, 2025 . Securities available for sale (AFS) were $494.0 million at June 30, 2026, versus $495.9 million at December 31, 2025 . Total shareholders’ equity was $528.4 million at June 30, 2026, or 9.33% of total assets, compared to $503.0 million or 9.14% at December 31, 2025 . Tangible common equity was $499.3 million at June 30, 2026, or $24.24 per share, compared to $473.7 million or $23.05 per share at December 31, 2025 . The tangible common equity ratio increased to 8.86% at June 30, 2026, from 8.65% at December 31, 2025 . Total capitalization was $567,087 thousand as of June 30, 2026, including common stock of $307,820 thousand, retained earnings of $276,934 thousand, and accumulated other comprehensive loss of - $56,341 thousand .

Regulatory Capital Ratios (as of June 30, 2026, preliminary)

Independent Bank, the Company’s wholly-owned subsidiary, remains significantly above “well capitalized” for regulatory purposes . The Tier 1 capital to average total assets ratio was 9.67% (well capitalized minimum: 5.00%) . Common equity Tier 1 capital to risk-weighted assets was 11.45% (well capitalized minimum: 6.50%) . Tier 1 capital to risk-weighted assets was 11.45% (well capitalized minimum: 8.00%) . Total capital to risk-weighted assets was 12.70% (well capitalized minimum: 10.00%) .

Liquidity

At June 30, 2026, Independent Bank Corporation had unused credit lines of approximately $688.9 million with the FHLB and $1.18 billion with the FRB . Additionally, $450.5 million in fair value of unpledged securities AFS and HTM could provide an estimated additional borrowing capacity of approximately $424.1 million at the FHLB and FRB .

Unique Metrics

Capitalized Mortgage Loan Servicing Rights

For the three months ended June 30, 2026, the balance of capitalized mortgage loan servicing rights at period end was $33,949 thousand, with $881 thousand in originated servicing rights capitalized and a change in fair value of $835 thousand . For the six months ended June 30, 2026, the balance at period end was also $33,949 thousand, with $1,611 thousand capitalized and a change in fair value of $845 thousand .

Mortgage Loan Activity

Mortgage loans originated for the three months ended June 30, 2026, totaled $145,421 thousand, with $97,073 thousand in mortgage loans sold, resulting in net gains on mortgage loans of $1,651 thousand and a Loan Sales Margin of 1.70% . For the six months ended June 30, 2026, mortgage loans originated were $275,995 thousand, and loans sold amounted to $181,742 thousand, with net gains of $2,959 thousand and a Loan Sales Margin of 1.63% .

Commercial Loan Portfolio Analysis

As of June 30, 2026, total commercial real estate loans were $1,710,488 thousand, with total watch credits amounting to $59,693 thousand (3.5% of the loan category) . Other commercial loans totaled $649,500 thousand, with $41,661 thousand in total watch credits (6.4%) . Total non-performing commercial loans were $32,274 thousand .

Outlook / Guidance

Independent Bank Corporation completed its acquisition of HCB Financial Corp. on July 1, 2026, and is currently integrating the operations . The company anticipates completing the full system integration of Highpoint Community Bank’s operations by November 9, 2026 . This acquisition is expected to strengthen its presence in complementary markets and enhance its ability to serve stakeholders long-term .