Grand Rapids, MI · Cert 27811 · Independent Bank Corp.
State charter, Fed member · FED · 59 branches
Q2 2026
Market Position · Grand Rapids-Wyoming-Kentwood, MI · 2026 SOD (annual) · 3.8% share · #7 of 28 inst. · $1.3B of $34.4B
Return on Assets (quarter, annualized)
Net Interest Margin (quarter, annualized)
Efficiency Ratio (quarter, annualized)
Tier 1 Leverage Ratio
Discrete quarter, annualized.
| Metric | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | YoY Δ | Trend |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings | ||||||||||
| Return on Assets | 1.12% | 1.46% | 1.23% | 1.33% | 1.38% | 1.38% | 1.27% | 1.42% | +9 bps | |
| Return on Equity | 12.64% | 16.21% | 13.54% | 14.55% | 15.46% | 15.64% | 14.21% | 15.68% | +112 bps | |
| Net Interest Margin | 3.23% | 3.29% | 3.30% | 3.41% | 3.42% | 3.42% | 3.43% | 3.51% | +10 bps | |
| Efficiency Ratio | 61.29% | 57.81% | 60.96% | 59.39% | 57.38% | 60.85% | 63.71% | 59.46% | +8 bps | |
| Non-Interest Burden | 1.70% | 1.30% | 1.71% | 1.69% | 1.60% | 1.74% | 1.87% | 1.68% | 0 bps | |
| Growth | ||||||||||
| Asset Growth (YoY) | 1.12% | 1.31% | 1.80% | 2.62% | 4.43% | 3.21% | 4.32% | 4.53% | +191 bps | |
| Loan Growth (YoY) | 5.35% | 6.42% | 6.06% | 7.99% | 6.40% | 5.89% | 6.02% | 6.08% | -191 bps | |
| Deposit Growth (YoY) | 0.93% | 0.70% | 1.19% | 1.02% | 4.85% | 2.16% | 5.09% | 4.15% | +313 bps | |
| Asset Quality | ||||||||||
| Nonperforming Loans / Loans | 0.18% | 0.19% | 0.22% | 0.25% | 0.54% | 0.77% | 0.87% | 0.99% | +74 bps | |
| Net Charge-Offs / Loans | 0.03% | 0.03% | 0.01% | 0.04% | 0.07% | 0.04% | 0.02% | 0.03% | 0 bps | |
| Allowance / Loans | 1.45% | 1.47% | 1.47% | 1.46% | 1.48% | 1.48% | 1.47% | 1.48% | +2 bps | |
| Allowance Coverage of NPLs | 7.9x | 7.6x | 6.7x | 5.9x | 2.8x | 1.9x | 1.7x | 1.5x | -4.3x | |
| Capital | ||||||||||
| Tier 1 Leverage Ratio | 9.36% | 9.58% | 9.56% | 9.79% | 9.19% | 9.36% | 9.43% | 9.67% | -12 bps | |
| Total Risk-Based Capital | 13.00% | 12.99% | 13.19% | 13.15% | 12.58% | 12.49% | 12.68% | 12.70% | -45 bps | |
| Equity / Assets | 9.07% | 8.97% | 9.16% | 9.10% | 8.76% | 8.93% | 8.96% | 9.12% | +2 bps | |
| Liquidity & Funding | ||||||||||
| Loans / Deposits | 84.38% | 85.86% | 86.84% | 88.30% | 85.63% | 89.00% | 87.61% | 89.93% | +163 bps | |
| Liquid Assets / Assets | 7.68% | 7.55% | 7.60% | 7.42% | 8.64% | 7.20% | 7.70% | 6.88% | -54 bps | |
| CRE / Total Capital | n/a | n/a | n/a | n/a | 312% | 320% | 317% | n/a | n/a | |