GRAND RAPIDS, Mich. (AP) — GRAND RAPIDS, Mich. (AP) — Independent Bank Corp. (IBCP) on Thursday reported fourth-quarter net income of $18.6 million.
The Grand Rapids, Michigan-based bank said it had earnings of 89 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.
The bank holding company posted revenue of $79.4 million in the period. Its revenue net of interest expense was $58.3 million, also exceeding Street forecasts.
For the year, the company reported profit of $68.5 million, or $3.27 per share. Revenue was reported as $225.7 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBCP at https://www.zacks.com/ap/IBCP
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