GRAND RAPIDS — Independent Bank Corp. ended 2019 with a nearly 40-percent growth rate in quarterly earnings.
Independent Bank Corp. got off to what President and CEO Brad Kessel called a “solid start” in 2019 with slightly higher earnings.
Independent Bank Corp. this week reported net income of $9.9 million, or 41 cents per diluted share, for the fourth quarter of 2018.
The spring acquisition of TCSB Bancorp Inc. in Traverse City, combined with strong loan growth, drove earnings higher for Independent Bank Corp. in the third quarter.
Strong loan growth, the recent acquisition of Traverse City State Bank, and a lower tax rate drove Independent Bank Corp.’s earnings significantly higher in the second quarter.
Despite strong business optimism and continued economic expansion, bankers say they still see their West Michigan business clients taking a cautious approach to debt.
A lower federal corporate tax rate contributed to higher earnings for West Michigan community banks that reported quarterly results this week.
Independent Bank Corp. would extend its presence in northwestern Lower Peninsula with the proposed acquisition of TCSB Bancorp Inc. in Traverse City.
Strong loan growth drove Independent Bank Corp. to higher earnings for the third quarter.
In his 28 years in practice, attorney Jeff Ott has worked on almost 70 transactions, nearly a dozen of which involved Chemical Financial Corp.’s acquisitions of other banks.