Grand Rapids Bank Reports Strong Q4 and Full-Year Earnings

GRAND RAPIDS, Mich. - Independent Bank Corp. (IBCP) exceeded Wall Street expectations in its fourth-quarter and full-year financial results.

Q4 Results:

* Net income: $18.5 million (87 cents per share)
* Revenue: $86.1 million
* Revenue net of interest expense: $62 million

Full-Year Results:

* Net income: $66.8 million ($3.16 per share)
* Revenue: $222.6 million

Analysts' estimates projected earnings of 76 cents per share for Q4. The bank's performance was driven by strong revenue growth, particularly in its non-interest income streams.

"Our fourth-quarter results reflect the continued execution of our strategic plan and the dedication of our team," said Independent Bank Corp. CEO. "We are well-positioned to capitalize on the opportunities in our markets."

For more information, access a Zacks stock report on IBCP at: https://www.zacks.com/ap/IBCP