William Kessel

President, Chief Executive Officer & Director, INDEPENDENT BANK CORP/MI

Search every verified William Kessel interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Brad Kessel, president and CEO of Independent Bank Corporation, discussed the company's fourth quarter and full year 2019 results during a January 2020 earnings call. He reported fourth quarter net income of $13.9 million, or 61 cents per diluted share, compared to $9.9 million, or 41 cents per diluted share, in the prior year period, citing year-over-year increases in net income and diluted earnings per share of 39.7 percent and 48.8 percent, respectively. Kessel also noted the company's outlook for 2020, including a projected 1% to 2% increase in net interest income over 2019, and estimated an initial CECL adjustment of approximately $7 to $8 million effective January 1, 2020, subject to final review. Kessel also announced an 11% increase in the company's quarterly common stock cash dividend to 20 cents per share, payable on February 14, 2020, describing it as reflecting optimism about the company's future. During the call, he addressed potential mergers and acquisitions, stating that financial metrics and cultural fit are key considerations, and noted that the board regularly reviews opportunities. He also mentioned that Steve Erickson was the incoming chief financial officer, succeeding Rob Schuster, who was retiring.