Independent Bank Reports Q3 Earnings with Loan Growth and Margin Expansion
Independent Bank Corporation reported strong third-quarter results for fiscal year 2026, driven by a $89.7 million net income and a 12% increase in diluted earnings per share compared to the second quarter of 2026. The company's net interest margin expanded four basis points to 3.89%, primarily due to purchase accounting benefits. Total loan growth reached $158 million, with notable increases across commercial & industrial (C&I), home equity, and residential mortgage segments. The bank also reported a significant increase in its approved commercial loan pipeline from $510 million at the end of Q2 2026 to $574 million as of September 30. Non-time deposits grew by $230 million or 5.4% annualized, and net charge-offs remained low at just 0.02%, well below its historical average. The bank repurchased approximately 679,000 shares for $57.4 million during the quarter.
Tickers: $INDB
Topics: deposits financial_performance loan_growth
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Part of the story Independent Bank Reports Q3 Earnings and Outlines Strategic Priorities for Long-Term Investors (4 articles)