Independent Bank Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported total interest income of $23,533,000 compared to $21,267,000 a year ago. Net Interest Income was $21,492,000 compared to $19,630,000 a year ago. Income before income tax was $8,594,000 compared to $9,049,000 a year ago. Net income was $5,931,000 $0.27 per diluted share compared to $6,438,000 $0.30 per diluted share a year ago. Return on average assets was 0.92% compared to 1.06% a year ago. Return on average common equity was 9.15% compared to 10.66% a year ago.

For the six months, the company reported total interest income of $46,912,000 compared to $42,621,000 a year ago. Net Interest Income was $42,958,000 compared to $39,393,000 a year ago. Income before income tax was $17,189,000 compared to $15,106,000 a year ago. Net income was $11,905,000 $0.55 per diluted share compared to $10,538,000 $0.48 per diluted share a year ago. At June 30, 2017, tangible book value per share grew to $12.22 per share, up from $11.89 per share at March 31, 2017.

Finally, it expects an effective income tax rate between 31% and 32% going forward in 2017.