Independent Bank Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company's total interest income was $26,797,000 compared to $23,379,000 a year ago. Net interest income was $23,936,000 compared to $21,466,000 a year ago. Net interest income after provision for loan losses was $23,621,000 compared to $21,825,000 a year ago. Income before income tax was $11,199,000 compared to $8,595,000 a year ago. Net income was $9,161,000 compared to $5,974,000 a year ago. Diluted earnings per share were $0.42 compared to $0.28 per basic and diluted share a year ago. Return on average assets was 1.34% compared to 0.95% a year ago. Return on average common equity was 14.04% compared to 9.63% a year ago. Tangible book value per share as on March 31, 2018 was $12.46 compared to $11.89 as at March 31, 2017.

The company expected effective income tax rate of about 20% going forward in 2018, excluding the impact of any nondeductible merger expenses.