NASDAQ$IBCP
Independent Bank Corporation · Q4 2024 earnings
Q4 2024 earnings · · Before market open · Investor relations
Briefing
Reported net income of $18.5 million, driven by loan growth and an increase in net interest income.
Independent Bank Corporation reported a strong fourth quarter in 2024, with net income reaching $18.5 million, or $0.87 per diluted share. The company saw growth in net interest income, a healthy net interest margin, and significant loan portfolio expansion, particularly in commercial loans. Credit metrics remained strong, and the Board of Directors approved an increase in the quarterly dividend.
- Net interest income increased by $1.0 million (2.4%) over the third quarter of 2024.
- Net interest margin was 3.45%, an eight basis point increase from the linked quarter.
- Net growth in loans was $96.5 million (9.7% annualized) from September 30, 2024.
- A dividend of 24 cents per share was paid on common stock on November 15, 2024.
Headline financials
Revenue & EPS history
Independent Bank · Revenue · Quarterly
$42.9M
Revenue by segment
Independent Bank · $10.5M total across 2 segments · Q1 2022
- Mortgage Servicing Net$9.64M—92.0%
- Net Gains on Mtg Loans$835K—8.0%
Forward guidance
Independent Bank Corporation remains optimistic about sustaining growth trends into 2025, supported by a robust commercial loan pipeline, a strong team, and strategic initiatives to attract talented bankers.
Tailwinds
- Robust commercial loan pipeline
- Proven track record of core team of professionals
- Strategic initiative to attract and integrate talented bankers
- Board of Directors approved an 8% increase in the quarterly dividend
- Strong credit metrics with watch credits and non-performing assets near historic lows
Headwinds
- Deterioration in general business and economic conditions
- Turbulence in domestic or global financial markets
- Changes in interest rates
- Increases in unemployment rates
- Deterioration in the credit quality of loan portfolios
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
+1.3%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+2.4%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+13.3%
Q4 2010
Best reaction
-7.8%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.9% | +1.6% | +0.7% | |
| Q4 2025 | +1.0% | -0.3% | +5.5% | |
| Q3 2025 | -0.7% | -5.2% | +2.6% | |
| Q2 2025 | -1.4% | -2.2% | -1.1% | |
| Q1 2025 | -1.2% | -0.7% | +0.5% | |
| Q4 2024 | +1.3% | +4.2% | -3.8% | |
| Q3 2024 | -2.0% | -0.1% | +15.9% | |
| Q2 2024 | +3.2% | +4.7% | +3.2% | |
| Q1 2024 | -0.5% | -1.2% | +1.1% | |
| Q4 2023 | -3.0% | +1.3% | -9.2% | |
| Q3 2023 | +3.5% | +5.6% | +20.0% | |
| Q2 2023 | +4.8% | +4.4% | -4.7% | |
| Q1 2023 | +4.3% | -6.7% | +0.1% | |
| Q4 2022 | -5.8% | -3.4% | -3.1% | |
| Q3 2022 | +5.8% | +11.1% | +17.1% | |
| Q2 2022 | +0.0% | +2.5% | +4.8% | |
| Q1 2022 | -4.0% | -7.6% | -10.0% | |
| Q4 2021 | -4.7% | -4.4% | -6.0% | |
| Q3 2021 | +0.3% | +2.5% | +8.0% | |
| Q2 2021 | +1.0% | +2.4% | +1.8% | |
| Q1 2021 | +1.3% | +2.3% | +1.0% | |
| Q4 2020 | -1.4% | +5.4% | +11.0% | |
| Q3 2020 | -1.4% | +0.6% | +21.8% | |
| Q2 2020 | +8.4% | +6.9% | +13.7% | |
| Q1 2020 | -7.8% | -15.2% | -15.0% | |
| Q4 2019 | -0.7% | -2.0% | -1.8% | |
| Q3 2019 | +2.8% | +2.8% | +0.7% | |
| Q2 2019 | -1.9% | -1.8% | -12.6% | |
| Q1 2019 | -2.9% | -2.8% | -1.3% | |
| Q4 2018 | -1.0% | -0.5% | +3.7% | |
| Q3 2018 | -1.8% | +3.3% | +3.7% | |
| Q2 2018 | -0.8% | -2.8% | -0.2% | |
| Q1 2018 | +5.4% | +2.1% | +5.2% | |
| Q4 2017 | +1.5% | +2.9% | +0.2% | |
| Q3 2017 | +4.0% | +1.1% | -1.6% | |
| Q2 2017 | -2.8% | +0.2% | -2.1% | |
| Q1 2017 | +8.5% | +4.7% | -2.1% | |
| Q4 2016 | +0.5% | +0.0% | +4.7% | |
| Q3 2016 | +1.3% | +1.0% | +12.7% | |
| Q2 2016 | +2.1% | +4.0% | +9.0% | |
| Q1 2016 | +0.7% | — | — | |
| Q4 2015 | +2.2% | — | — | |
| Q3 2015 | -3.0% | — | — | |
| Q2 2015 | +1.2% | — | — | |
| Q1 2015 | +1.2% | — | — | |
| Q4 2014 | +1.5% | — | — | |
| Q3 2014 | -2.5% | — | — | |
| Q2 2014 | +6.8% | — | — | |
| Q1 2014 | -5.2% | — | — | |
| Q4 2013 | -0.4% | — | — | |
| Q3 2013 | +0.3% | — | — | |
| Q2 2013 | -3.4% | — | — | |
| Q1 2013 | -3.0% | — | — | |
| Q4 2012 | +0.3% | — | — | |
| Q4 2011 | +0.3% | — | — | |
| Q3 2012 | -0.9% | — | — | |
| Q2 2012 | +10.2% | — | — | |
| Q1 2011 | -4.1% | — | — | |
| Q1 2012 | +3.6% | — | — | |
| Q4 2009 | +4.2% | — | — | |
| Q3 2010 | +10.7% | — | — | |
| Q3 2011 | +10.7% | — | — | |
| Q2 2011 | +13.3% | — | — | |
| Q2 2010 | +13.3% | — | — | |
| Q4 2010 | +13.3% | — | — |
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