Independent Bank-Mich

Q2 FY2026 EarningsIBCP reported Q2 FY26 diluted EPS of $0.90, beating the $0.84 consensus by 6.64%, while GAAP net income of $18.8M exceeded expectations of $17.6M. The beat was primarily driven by a robust Net Interest Margin (NIM) of 3.71% and significant non-interest income contributors, including a $1.6M gain on Visa stock and a $1.8M favorable MSR fair value adjustment. However, pre-tax income was slightly below the EBIT consensus due to higher-than-expected non-interest expenses and an elevated provision for credit losses.