Independent Bank: Yields and Funding Costs
Data as of · Call Report Schedules RI and RC-K How we update
What the bank earns on its assets, what it pays for its funding, and the spread between them. Net interest margin is the output of the two: it is the engine of earnings for almost every commercial bank.
The biggest quarter-over-quarter change on this page was a small one: Cost of borrowings edged up 0.14 percentage points between Q1 2026 and Q2 2026, to 3.65%. Within Michigan, Independent Bank is 52nd of 72 on net interest margin, 3.71% as of Q2 2026, below the middle of the field. The median for banks in the $1B-10B asset tier is 3.71% on net interest margin; Independent Bank reported 3.71% for Q2 2026, nearly level with it.
Asset yields
| Line item | Q2 2026 |
|---|---|
| Yield on earning assets | 5.13% |
| Yield on loans | 5.55% |
| Yield on securities | 2.79% |
Funding costs
| Line item | Q2 2026 |
|---|---|
| Cost of funds | 1.30% |
| Cost of interest-bearing deposits | 1.92% |
| Cost of interest-bearing liabilities | 1.92% |
| Cost of borrowings | 3.65% |
Spread and margin
| Line item | Q2 2026 |
|---|---|
| Net interest margin | 3.71% |
| Yield to cost spread | 3.21% |
Interest income and expense
| Line item | Q2 2026 |
|---|---|
| Interest income on loans | $60.8M |
| Total interest expense | $18.7M |
| Interest expense on deposits | $18.3M |
Yields and Funding Costs trend
Last 12 quarters as filed. Every value plotted here also appears in the tables above.
Yields and Funding Costs by quarter
| Quarter | Yield on earning assets | Cost of funds | Net interest margin | Loans | Securities |
|---|---|---|---|---|---|
| Q3 2023 | 5.03% | 1.51% | 3.28% | 5.57% | 3.23% |
| Q4 2023 | 5.13% | 1.67% | 3.22% | 5.76% | 3.26% |
| Q1 2024 | 5.21% | 1.69% | 3.31% | 5.77% | 3.25% |
| Q2 2024 | 5.33% | 1.72% | 3.41% | 5.90% | 3.20% |
| Q3 2024 | 5.40% | 1.81% | 3.40% | 5.99% | 3.19% |
| Q4 2024 | 5.29% | 1.65% | 3.48% | 5.84% | 3.01% |
| Q1 2025 | 5.16% | 1.51% | 3.50% | 5.70% | 2.88% |
| Q2 2025 | 5.26% | 1.51% | 3.61% | 5.78% | 2.87% |
| Q3 2025 | 5.33% | 1.57% | 3.62% | 5.86% | 2.88% |
| Q4 2025 | 5.19% | 1.45% | 3.62% | 5.68% | 2.83% |
| Q1 2026 | 5.05% | 1.30% | 3.64% | 5.51% | 2.77% |
| Q2 2026 | 5.13% | 1.30% | 3.71% | 5.55% | 2.79% |
Independent Bank yields and funding costs, all the way back
Yields and Funding Costs back to 2001 · peer percentiles on every line item · Excel export
Unlock Independent Bank, freeSource: Call Report Schedules RI and RC-K, as filed with the FFIEC and standardized by BankRegReports. Dollar amounts are as reported, point-in-time; income statement items are year-to-date through the report date. See the full Independent Bank profile, peer group comparison, or how this data updates.
Regulator records: FDIC BankFind (cert 27811) · FFIEC NIC profile (RSSD 636771)