Independent Bank profit rallies 11% to $18.8 million

• Independent Bank reported second-quarter net income of $18.8 million, with diluted EPS rising to $0.90.
• Net interest income reached $47.9 million as net interest margin expanded to 3.71%.
• The company completed its HCB Financial acquisition on July 1, adding Highpoint Community Bank to its operations.

Independent Bank (NASDAQ:IBCP) reported second-quarter net income of $18.8 million, or $0.90 per diluted share, as interest income and margins improved.

Profit increased from $16.9 million, or $0.81 per share, one year earlier, representing growth of approximately 11%.

Net interest income rose to $47.9 million, while net interest margin increased to 3.71% from 3.58% last year and 3.65% in Q1.

Non-interest income reached $15.3 million, including a $1.6 million Visa securities gain, while non-interest expenses increased to $37.8 million.

Independent Bank ended June with $5.66 billion in assets, $4.41 billion in loans, $4.86 billion in deposits and tangible equity of $24.24 per share.

Meanwhile, Independent Bank completed its HCB Financial acquisition on July 1 and expects to integrate Highpoint Community Bank’s systems in November 2026.