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Independent Bank

Grand Rapids, MI · Cert 27811 · Independent Bank Corp.

State charter, Fed member · FED · 59 branches

Q2 2026

$5.7BAssets
$4.4BLoans
$4.9BDeposits
$515.9MEquity
Loan mix
74%RE $3.2B14%C&I $0.6B12%Consumer $0.5BQ2 2025Q2 2026
Deposit mix
77%Interest-bearing $3.8B23%Noninterest $1.1BQ2 2025Q2 2026

NIM

5.03%Q2 ’244.96%Q2 ’254.83%Q2 ’26+5%+3%

Non-interest income vs. expense

2.53%Q2 ’242.52%Q2 ’252.67%Q2 ’26+6%0%

Market Position · Grand Rapids-Wyoming-Kentwood, MI · 2026 SOD (annual) · 3.8% share · #7 of 28 inst. · $1.3B of $34.4B

3.1% Kent
0.7% Oakland
31.2% Bay
10.2% Grand Traverse

Executive Summary

  • Earnings: ROA of 1.42%, up 9 bps year over year; NIM at 3.51%.
  • Asset quality: problem loans at 0.99% of loans (+74 bps YoY), with net charge-offs at 0.03%.
  • Capital: tier 1 leverage ratio of 9.67%, down 12 bps from a year ago.
  • Funding: loans stand at 89.93% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.42%+9 bps YoY

Net Interest Margin (quarter, annualized)

3.51%+10 bps YoY

Efficiency Ratio (quarter, annualized)

59.46%+8 bps YoY

Tier 1 Leverage Ratio

9.67%-12 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.33%1.38%1.38%1.27%1.42%+9 bps
Return on Equity14.55%15.46%15.64%14.21%15.68%+112 bps
Net Interest Margin3.41%3.42%3.42%3.43%3.51%+10 bps
Efficiency Ratio59.39%57.38%60.85%63.71%59.46%+8 bps
Non-Interest Burden1.69%1.60%1.74%1.87%1.68%0 bps
Growth
Asset Growth (YoY)2.62%4.43%3.21%4.32%4.53%+191 bps
Loan Growth (YoY)7.99%6.40%5.89%6.02%6.08%-191 bps
Deposit Growth (YoY)1.02%4.85%2.16%5.09%4.15%+313 bps
Asset Quality
Nonperforming Loans / Loans0.25%0.54%0.77%0.87%0.99%+74 bps
Net Charge-Offs / Loans0.04%0.07%0.04%0.02%0.03%0 bps
Allowance / Loans1.46%1.48%1.48%1.47%1.48%+2 bps
Allowance Coverage of NPLs5.9x2.8x1.9x1.7x1.5x-4.3x
Capital
Tier 1 Leverage Ratio9.79%9.19%9.36%9.43%9.67%-12 bps
Total Risk-Based Capital13.15%12.58%12.49%12.68%12.70%-45 bps
Equity / Assets9.10%8.76%8.93%8.96%9.12%+2 bps
Liquidity & Funding
Loans / Deposits88.30%85.63%89.00%87.61%89.93%+163 bps
Liquid Assets / Assets7.42%8.64%7.20%7.70%6.88%-54 bps
CRE / Total Capitaln/a312%320%317%n/an/a