IBCP · Independent Bank Corp (Ionia, MI) Q2 FY2026 earnings call record财报电话会记录

“Highlights for the second quarter of 2026 include a Net Interest Margin of 3.71%, 6 basis point increase from the linked quarter, an increase in Net Interest Income of $1 million, or 2.2% over the first quarter of 2026, an increase in tangible common equity per share of common stock of $0.86 or 14.8% annualized from March 31st, 2026.”

“We continue to believe the combination strengthens our presence in complementary markets and enhances our ability to serve customers, employees, communities, and our shareholders over the long term.”

“During the quarter, we announced the creation of two new regional president roles within our commercial banking structure, reinforcing our commitment to strong local leadership, relationship-based growth, and continued service to customers and communities across Michigan.”

“On a linked-quarter basis, business deposits increased by $66 million, retail deposits increased by $15 million, offset by a $45 million decrease in municipal deposits, primarily due to seasonality and usage of American Rescue Plan Act funds.”

“During the quarter, our residential mortgage and consumer installment loan portfolios increased $12.9 million and $0.2 million respectively.”

“Our largest segment of the C&I category continues to be manufacturing at $194 million or 8.2% of the total portfolio.”

“In the investment real estate segment of the portfolio, the largest concentration is industrial at $219 million or 9.3%.”

“Our tax equivalent Net Interest Margin was 3.71% during the second quarter of 2026, compared to 3.58% in the second quarter of 2025 and up 6 basis points from the first quarter of 2026.”

“On a linked-quarter basis, our second quarter 2026 Net Interest Margin was positively impacted by three factors.”

“Turning to page 16 is our update for our 2026 outlook to see how our actual performance during the second quarter compared to the original outlook that we provided in January of this year.”

“Our outlook estimated full year loan growth of 4.5%-5.5%.”

“I think 6 basis points is outsized, but anywhere from 2 to 4 basis points a quarter going forward would not be unreasonable in terms of the margin expansion.”