Independent Bank (IBCP) Reports Q4 EPS of $0.77

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Go back to Independent Bank (IBCP) Reports Q4 EPS of $0.77

Independent Bank Corporation Reports 2021 Fourth Quarter and Full Year Results

January 27, 2022 7:59 AM EST

GRAND RAPIDS, Mich., Jan. 27, 2022 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP) reported fourth quarter 2021 net income of $12.5 million, or $0.58 per diluted share, versus net income of $17.0 million, or $0.77 per diluted share, in the prior-year period. For the year ended December 31, 2021, the Company reported net income of $62.9 million, or $2.88 per diluted share, compared to net income of $56.2 million, or $2.53 per diluted share, in 2020. The increase in full year 2021 net income as compared to 2020 primarily reflects an increase in net interest income and a decrease in provision for credit losses that were... More