Recap: Independent Bank Q2 Earnings

Shares of Independent Bank IBCP rose 1.7% after the company reported Q2 results.

Quarterly Results

Earnings per share were up 45.65% over the past year to $0.67, which beat the estimate of $0.25.

Revenue of $30,462,000 declined by 0.96% from the same period last year, which beat the estimate of $30,390,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Independent Bank hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Jul 28, 2020

Time: 11:00 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/ibcp/mediaframe/39303/indexr.html

Recent Stock Performance

Company's 52-week high was at $23.93

Company's 52-week low was at $9.19

Price action over last quarter: down 12.75%

Company Profile

Independent Bank Corp (Ionia MI) operates as a commercial bank. It offers a broad range of banking services to individuals and businesses, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services. It also provides internet and mobile banking capabilities to its customers.