{"id":519790,"date":"2021-07-29T08:02:05","date_gmt":"2021-07-29T12:02:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/independent-bank-corporation-reports-2021-second-quarter-results\/"},"modified":"2021-07-29T08:02:05","modified_gmt":"2021-07-29T12:02:05","slug":"independent-bank-corporation-reports-2021-second-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/independent-bank-corporation-reports-2021-second-quarter-results\/","title":{"rendered":"Independent Bank Corporation Reports 2021 Second Quarter Results"},"content":{"rendered":"
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GRAND RAPIDS, Mich., July 29, 2021 (GLOBE NEWSWIRE) — Independent Bank Corporation (NASDAQ: IBCP) reported second quarter 2021 net income of $12.4 million, or $0.56 per diluted share, versus net income of $14.8 million, or $0.67 per diluted share, in the prior-year period. For the six months ended June 30, 2021, the Company reported net income of $34.4 million, or $1.56 per diluted share, compared to net income of $19.6 million, or $0.88 per diluted share, in the prior-year period. The decline in second quarter 2021 earnings as compared to 2020 primarily reflects a decrease in non-interest income and an increase in non-interest expense that were partially offset by an increase in net interest income and decreases in the provision for credit losses and income tax expense. The increase in year-to-date 2021 earnings as compared to 2020 primarily reflects increases in net interest income and non-interest income and a decrease in the provision for credit losses that were partially offset by increases in non-interest expense and income tax expense.<\/p>\n

Highlights for the second quarter of 2021 include:<\/p>\n