Independent Bank reported second-quarter 2026 net income of $18.8 million, or $0.90 per diluted share, up from $16.9 million ($0.81 per diluted share) in the year-ago quarter. The company posted net interest income of $47.9 million and a tax-equivalent net interest margin of 3.71% for the quarter ended June 30, 2026. Management noted tangible common equity per share of $24.24 and continued loan and deposit growth following its July 1 acquisition of Highpoint Community Bank.

Financial Highlights

  • Net income: $18.8 million for Q2 2026; $16.9 million in Q2 2025.
  • Diluted net income per share: $0.90 for Q2 2026; $0.81 in Q2 2025.
  • Net interest income: $47.9 million in Q2 2026 (up $3.3 million year-over-year).
  • Net interest margin (FTE): 3.71% for Q2 2026 (3.65% in Q1 2026; 3.58% in Q2 2025).
  • Tangible common equity per share: $24.24 at June 30, 2026; tangible common equity ratio 8.86%.

Business Highlights

  • Loan growth: Net loans (excluding loans held for sale) rose to $4.41 billion at June 30, 2026 from $4.28 billion at December 31, 2025; net loan growth of $105.8 million (9.8% annualized) from March 31, 2026.
  • Deposit trends: Total deposits reached $4.86 billion at June 30, 2026, with net growth in core deposits (less brokered time) of $38.2 million (3.2% annualized) from March 31, 2026.
  • Capital and liquidity: Total shareholders’ equity was $528.4 million (9.33% of assets); the company had unused FHLB and FRB lines of roughly $689 million and $1.18 billion, respectively, and ~$450.5 million of unpledged securities available.
  • Acquisition and integration: Completed acquisition of HCB Financial (Highpoint Community Bank) on July 1, 2026; integration work underway with full system conversion expected November 9, 2026.
  • Asset quality and reserves: Non-performing loans $32.8 million (0.74% of portfolio) at June 30, 2026; allowance for credit losses for loans $65.7 million (1.49% of portfolio).

Original SEC Filing:

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