Independent Bank Q3 Income Increases In Line With Estimates

(RTTNews) - Independent Bank (IBCP) revealed a profit for its third quarter that Increased, from the same period last year in line with the Street estimates.

The company's earnings came in at $17.5 million, or $0.84 per share. This compares with $13.8 million, or $0.65 per share, last year.

Analysts on average had expected the company to earn $0.84 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 11.5% to $57.3 million from $51.4 million last year.

Independent Bank earnings at a glance (GAAP) :

-Earnings: $17.5 Mln. vs. $13.8 Mln. last year. -EPS: $0.84 vs. $0.65 last year. -Revenue: $57.3 Mln vs. $51.4 Mln last year.