Independent Bank earnings for the third quarter of 2026 fell short of analyst expectations on an adjusted per-share basis, even as revenue rose 24.0% from a year earlier and beat forecasts. The Michigan bank released its results on October 27.

Independent Bank earnings and revenue

Non-GAAP earnings per share were $0.92, missing analyst estimates by $0.03. Revenue reached $71.07 million, exceeding forecasts by $16.21 million.

The net interest margin rose to 3.79%, an increase of 12 basis points from the previous quarter and 28 basis points from a year earlier. Return on average assets was 1.14%, while return on average equity was 12.17%.

Dividend and banking operations

The shares were quoted at $37.01, with a dividend yield of 2.93% and a payout ratio of 31%. Dividend growth averaged 5.7% annually over the preceding three years. Those historical measures do not guarantee future payments.

Grand Rapids-based Independent Bank Corp. serves individuals, small and midsize businesses, and municipalities primarily in Lower Michigan. Its services include deposits, lending, mortgages and wealth management.

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