IONIA, Mich. -- Independent Bank Corp., a $482 million-asset bank holding company, reported net income for the three months ended June 30 of $1.5 million, or $0.56 per share, up from $1.4 million, or $0.54 per share in 1993.

For the first six months, net income was $2.8 million, compared with $2.9 million for the first half of 1993. Return on average assets and return on average shareholders' equity for the first six months were 1.20% and 14.69% respectively.

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