Independent Bank Corporation reported an increase in net interest income of $0.8 million, or 1.9%, over the fourth quarter of 2024. This growth reflects continued positive trends in the company's core banking operations.
The company also achieved net growth in its loan portfolio, increasing by $33.9 million, or 3.4% on an annualized basis, from December 31, 2024. Core deposits saw a net increase of $9.1 million, representing an 0.8% annualized growth from the end of 2024.
Tangible book value per share increased by $2.43, or 13.2%, from March 31, 2024, demonstrating strong capital generation. The company also confirmed the payment of its 26 cents per share dividend on common stock on February 14, 2025.
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