Independent Bank Corp's Q3 net income rises 27% on loan growth

Reuters

10/28

Independent Bank Corp's Q3 net income rises 27% on loan growth

Overview

Independent Bank Q3 net income rises to $17.5 mln, $0.84 per share
Net interest income for Q3 increased by $3.5 mln year-over-year
Company reports 13% annualized growth in total deposits from June 30, 2025

Outlook

Company expects to finish 2025 strong and grow earnings in 2026

Result Drivers

NET INTEREST INCOME - Sequential increase of 1.7% driven by growth in average interest-earning assets, offset by a slight decline in net interest margin due to subordinated debt redemption
DEPOSIT GROWTH - Total deposits, excluding brokered time deposits, increased by 13% annualized, supporting higher net interest income
LOAN GROWTH - Loans grew at an annualized rate of 3.2%, contributing to overall asset growth

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 EPS		$0.84
Q3 Net Income		$17.50 mln
Q3 Net Interest Income		$45.40 mln

Analyst Coverage

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"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for Independent Bank Corp (Michigan) is $35.00, about 8.9% above its October 27 closing price of $31.88
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release: ID:nGNX7wBJ7y

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(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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For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.</p><p>(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.)</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Independent Bank Corp's Q3 net income rises 27% on loan growth</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.</p><p>(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.)</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IBCP","symbol_name":"獨立銀行","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251028:nL1N3W90K3:1","article_id":"2578995913","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2578995913","pubTimestamp":1761653221,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Independent Bank Corp's Q3 net income rises 27% on loan growthOverviewIndependent Bank Q3 net income rises to $17.5 mln, $0.84 per shareNet interest income for Q3 increased by $3.5 mln year-over-yearC","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IBCP":"独立银行","BK4211":"区域性银行"},"translate_title":"独立银行第三季度净利润因贷款增长而增长27%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IBCP":0.9},"content_text":"Independent Bank Corp's Q3 net income rises 27% on loan growthOverviewIndependent Bank Q3 net income rises to $17.5 mln, $0.84 per shareNet interest income for Q3 increased by $3.5 mln year-over-yearCompany reports 13% annualized growth in total deposits from June 30, 2025OutlookCompany expects to finish 2025 strong and grow earnings in 2026Result DriversNET INTEREST INCOME - Sequential increase of 1.7% driven by growth in average interest-earning assets, offset by a slight decline in net interest margin due to subordinated debt redemptionDEPOSIT GROWTH - Total deposits, excluding brokered time deposits, increased by 13% annualized, supporting higher net interest incomeLOAN GROWTH - Loans grew at an annualized rate of 3.2%, contributing to overall asset growthKey DetailsMetricBeat/MissActualConsensus EstimateQ3 EPS$0.84Q3 Net Income$17.50 mlnQ3 Net Interest Income$45.40 mlnAnalyst CoverageThe 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\"The average consensus recommendation for the banks peer group is \"buy.\"Wall Street's median 12-month price target for Independent Bank Corp (Michigan) is $35.00, about 8.9% above its October 27 closing price of $31.88The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months agoPress Release: ID:nGNX7wBJ7yFor questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.(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.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}