trending Market Intelligence /marketintelligence/en/news-insights/trending/9dmjTTZ2cvsAzpYO9vqF-A2 content esgSubNav
In This List

Michigan's Independent Bank expects 28-cent hit to EPS from DTA revaluation

Blog

Spotlight on sustainability: How banks can overcome the challenges of achieving net-zero emissions by 2050

Blog

Insight Weekly: US election scenarios; borrowing costs rise; commercial REIT fears

Podcast

Street Talk | Episode 100 - KBW CEO offers optimism for bears fearful of bank liquidity, credit

Blog

Insight Weekly: Stocks endure more pain; bank branch M&A slows; debt ratios fall


Michigan's Independent Bank expects 28-cent hit to EPS from DTA revaluation

Grand Rapids, Mich.-based Independent Bank Corp. estimates a fourth-quarter hit to EPS of 28 cents, due to tax reform and the consequent revaluation of its deferred tax assets.

The negative impact to tangible book value is also projected to be 28 cents. The reduction in deferred tax asset value is pegged at approximately $6 million.

The estimate is based primarily on the company's DTA balance of $22.4 million as of Sept. 30. Independent is still unable to make a final determination on the impact to earnings, but it expects no future cash expenditures because of the downward revaluation to DTA.