Independent Bank (IBCP) Earnings Transcript

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Thursday, Jan. 22, 2026 astatine 11 a.m. ET

• President and Chief Executive Officer — Brad Kessel

• Executive Vice President and Chief Financial Officer — Gavin Mohr

• Executive Vice President, Head of Commercial Banking — Joel Rahn

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Brad Kessel: Good morning, and invited to today's call. Thank you for joining america for Independent Bank Corporation's league telephone and webcast to sermon the company's 4th fourth and afloat twelvemonth 2025 results. I americium Brad Kessel, President and Chief Executive Officer. And joining maine is Gavin Mohr, Executive Vice President and Chief Financial Officer, and Joel Rahn, EVP, Head of Commercial Banking. Before we statesman today's call, I would similar to nonstop you to the important accusation connected Page 2 of our presentation, specifically the cautionary enactment regarding forward-looking statements. If anyone does not already person a transcript of the property merchandise issued by america today, you tin entree it astatine the company's website, independentbank.com.

The docket for today's telephone volition see prepared remarks followed by a question and reply session, and past closing remarks. I americium pleased to study connected our 4th fourth and afloat twelvemonth 2025 results arsenic we beforehand our ngo of inspiring fiscal independency contiguous with time successful mind. Our imaginativeness is simply a aboriginal wherever radical attack their finances with confidence, clarity, and the determination to succeed. Our halfway values of courage, drive, integrity, radical focus, and teamwork are the blueprint our employees unrecorded by. We strive to beryllium Michigan's astir people-focused bank.

Independent Bank Corporation reported 4th fourth 2025 nett income of $18.6 cardinal oregon $0.89 per diluted share, versus nett income of $18.5 cardinal oregon $0.87 per diluted stock successful the anterior twelvemonth period. For the twelvemonth ended 12/31/2025, the institution reported nett income of $68.5 cardinal oregon $3.27 per diluted stock compared to nett income of $66.8 cardinal oregon $3.16 per diluted stock successful 2024. Highlights for the twelvemonth see an summation successful nett involvement income of $1 million, that's 2.2% implicit 2025, a nett involvement borderline of 3.62%, that's 8 ground points up connected a linked 4th basis. A instrumentality connected mean assets and a instrumentality connected mean equity of 1.35% and 14.75% respectively.

Net maturation successful loans of $78 cardinal oregon 7.4% annualized, that's from 09/30/2025. Net maturation successful full deposits little brokered deposits of $57.5 cardinal oregon 4.8% annualized. An summation successful tangible communal equity ratio to 8.65% and the outgo of a $0.26 per stock dividend successful communal banal connected 11/14/2025. Our 4th fourth show marked the culmination of different singular twelvemonth with our enactment excelling connected each fundamentals. Over the past year, we accrued tangible publication worth by 13.3% and delivered near-record earnings. Meanwhile, our dividend payout ratio was 32% for the twelvemonth arsenic we proceed to admit the worth of returns for our shareholders.