INDEPENDENT BANK CORP /MI/
INDEPENDENT BANK CORP /MI/
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Financial Statements
Values in Millions ($) | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Financial statements beyond 3 years are for subscribers only. Unlock 17+ years of income statements, balance sheets, and cash flow statements Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Commercial Portfolio Segment | - | 2,267 | 2,214 | 57 | 2,044 | 24 | 1,937 | 1 | -0 | 19 | 1,680 | 1 | |||||
Residential Portfolio Segment | - | 1,520 | 1,525 | -11 | 1,508 | 20 | 1,517 | -1 | -0 | 21 | 1,486 | -0 | |||||
Installment Portfolio Segment | - | 520 | 538 | -12 | 565 | 3 | 585 | 1 | 0 | 4 | 625 | -0 | |||||
Cash And Due From Banks | 64 | 48 | 52 | 56 | 74 | 61 | 57 | 62 | 55 | 42 | 68 | 59 | |||||
Interest Bearing Deposits In Banks | 101 | 126 | 86 | 152 | 72 | 68 | 63 | 60 | 159 | 120 | 102 | 69 | |||||
Cash And Cash Equivalents At Carrying Value | 165 | 175 | 138 | 209 | 146 | 128 | 120 | 122 | 214 | 162 | 170 | 127 | |||||
Equity Securities Fv Ni Current And Noncurrent | - | - | - | - | - | - | - | - | 1 | - | - | - | |||||
Debt Securities Available For Sale Excluding Accru… | 494 | 482 | 496 | 503 | 510 | 530 | 559 | 589 | 592 | 614 | 679 | 685 | |||||
Debt Securities Held To Maturity Excluding Accrued… | 288 | 301 | 310 | 321 | 329 | 337 | 339 | 343 | 344 | 350 | 354 | 359 | |||||
Federal Home Loan Bank Stock And Federal Reserve B… | 19 | 18 | 18 | 18 | 18 | 16 | 16 | 16 | 16 | 17 | 17 | 17 | |||||
Loans Held For Sale Fair Value Disclosure | 17 | 20 | 9 | 12 | 12 | 10 | 8 | 14 | 16 | 9 | 12 | 14 | |||||
Financing Receivable Excl… | |||||||||||||||||
Fi Nonecing Receivable Ex… | |||||||||||||||||
Notes Receivable Gross | 4,414 | 4,308 | 4,276 | 4,198 | 4,164 | 4,073 | 4,039 | 3,942 | 3,852 | 3,840 | 3,791 | 3,741 | |||||
Notes Receivable Net | 4,348 | 4,244 | 4,213 | 4,136 | 4,103 | 4,013 | 3,979 | 3,885 | 3,796 | 3,784 | 3,736 | 3,686 | |||||
Financing Receivable Allowance For Credit Loss Exc… | - | -64 | -63 | -62 | -61 | -60 | -59 | -57 | -56 | -56 | -55 | -55 | |||||
Foreclosed Assets | 1 | 1 | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 0 | |||||
Property Plant And Equipment Net | 45 | 42 | 39 | 39 | 38 | 37 | 37 | 35 | 35 | 35 | 36 | 35 | |||||
Bank Owned Life Insurance | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 55 | |||||
Servicing Asset At Fair Value Amount | 34 | 32 | 31 | 32 | 32 | 32 | 47 | 40 | 44 | 44 | 42 | 46 | |||||
Intangible Assets Net Excluding Goodwill | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | |||||
Goodwill | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | |||||
Other Assets | 170 | 159 | 168 | 141 | 146 | 143 | 148 | 130 | 134 | 133 | 133 | 145 | |||||
Noninterest Bearing Deposit Liabilities | 1,030 | 991 | 992 | 1,004 | 1,008 | 990 | 1,014 | 1,024 | 1,050 | 1,035 | 1,076 | 1,142 | |||||
Deposits Savings Deposits | 2,144 | 2,146 | 2,113 | 2,040 | 1,990 | 2,018 | 1,995 | 1,948 | 1,926 | 1,935 | 1,906 | 1,930 | |||||
Deposits | |||||||||||||||||
Deposits | 4,862 | 4,881 | 4,762 | 4,859 | 4,659 | 4,634 | 4,654 | 4,627 | 4,614 | 4,582 | 4,623 | 4,586 | |||||
Interest Bearing Domestic Deposit Time Deposits | 662 | 657 | 663 | 661 | 628 | 635 | 628 | 620 | 586 | 570 | 524 | 478 | |||||
Interest Bearing Domestic Deposit Brokered | 1 | 57 | 19 | 173 | 122 | 81 | 110 | 40 | 127 | 149 | 285 | 236 | |||||
Other Borrowings | 127 | 27 | 77 | 2 | 102 | 45 | 45 | 0 | 50 | 50 | 50 | 50 | |||||
Subordinated Debt | - | - | 0 | 0 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 39 | |||||
Assets | |||||||||||||||||
Assets | 5,664 | 5,558 | 5,506 | 5,493 | 5,419 | 5,328 | 5,338 | 5,259 | 5,278 | 5,231 | 5,264 | 5,200 | |||||
Junior Subordinated Debenture Owed To Unconsolidat… | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | |||||
Other Liabilities | 106 | 99 | 124 | 101 | 108 | 103 | 105 | 101 | 103 | 104 | 107 | 110 | |||||
Liabilities | 5,135 | 5,047 | 5,003 | 5,002 | 4,949 | 4,861 | 4,883 | 4,807 | 4,847 | 4,816 | 4,859 | 4,825 | |||||
Preferred Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Value | 308 | 308 | 308 | 312 | 312 | 318 | 319 | 318 | 318 | 317 | 317 | 317 | |||||
Retained Earnings Accumulated Deficit | 277 | 264 | 253 | 240 | 227 | 216 | 206 | 192 | 184 | 170 | 159 | 150 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -56 | -61 | -58 | -61 | -70 | -67 | -70 | -58 | -71 | -72 | -72 | -92 | |||||
Liabilities And Stockholders Equity | 5,664 | 5,558 | 5,506 | 5,493 | 5,419 | 5,328 | 5,338 | 5,259 | 5,278 | 5,231 | 5,264 | 5,200 | |||||
Stockholders Equity | |||||||||||||||||
Stockholders Equity | 528 | 511 | 503 | 491 | 469 | 467 | 455 | 452 | 430 | 416 | 404 | 375 | |||||
Held To Maturity Securities Fair Value | 261 | 271 | 283 | 293 | 294 | 303 | 302 | 315 | 306 | 311 | 319 | 309 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Preferred Stock No Par Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Preferred Stock Shares Authorized | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Preferred Stock Shares Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Preferred Stock Shares Outstanding | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock No Par Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Shares Authorized | 500 | 500 | 500 | 500 | 500 | 500 | 500 | 500 | 500 | 500 | 500 | 500 | |||||
Common Stock Shares Issued | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | |||||
Shares Outstanding | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | |||||
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Interactive Financial Visualizations
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.51% | 7.16% | 11.39% | - | - | - | - | - | - | - | - | - |
| 2025 | 1.35% | 4.85% | 4.34% | 9.20% | 4.68% | 7.10% | 5.97% | 7.50% | 12.66% | -5.32% | -2.34% | -0.13% |
| 2024 | 0.75% | -5.24% | 24.92% | 8.55% | 2.79% | 4.39% | 13.45% | 4.58% | 7.33% | -2.43% | -1.87% | 0.23% |
| 2023 | - | - | - | - | - | - | 2.19% | 24.99% | 22.52% | 2.88% | 1.42% | 4.04% |
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Performance and Valuation Metrics
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Metrics | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Metric history beyond 3 years is for subscribers only. Unlock 17+ years of history across 90+ calculated metrics Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Leverage & Debt | |||||||||||||||||
| Interest Coverage TTM | -0.55 | -0.55 | -0.55 | -0.53 | -0.54 | -0.51 | -0.12 | 0.34 | 1.00 | 1.84 | 1.88 | 2.09 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 3.45 | 3.36 | - | - | 3.09 | 3.14 | - | - | - | - | - | - | |||||
| Free Cash Flow Per Share TTM | 1.85 | 1.86 | 3.38 | 3.68 | 3.04 | 2.54 | 2.64 | 2.78 | 3.19 | 3.24 | 3.32 | 2.55 | |||||
| Dividend Per Share TTM | 1.08 | 1.07 | 1.04 | 1.03 | 1.01 | 0.98 | 0.96 | 0.95 | 0.94 | 0.93 | 0.92 | 0.92 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 69.02% | 67.91% | 66.74% | 65.55% | 64.47% | 63.38% | 62.32% | 55.82% | 56.16% | 56.84% | 58.76% | 69.61% | |||||
| Operating Profit Margin TTM | 31.25% | 30.54% | 30.14% | 31.10% | 29.76% | 30.75% | 31.13% | 29.50% | 31.85% | 30.94% | 30.74% | 32.99% | |||||
| Net Profit Margin TTM | 26.56% | 25.88% | 25.41% | 25.41% | 24.13% | 24.79% | 25.04% | 23.41% | 25.38% | 24.74% | 24.64% | 26.81% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 0.69% | 0.73% | 1.11% | 1.56% | 3.50% | 6.75% | 11.31% | 17.69% | 24.77% | 33.30% | 41.81% | 46.05% | |||||
| Net Income Growth (1Y) | 10.84% | 5.18% | 2.62% | 10.24% | -1.62% | 6.96% | 13.07% | 2.75% | 9.38% | 6.32% | -6.76% | -0.60% | |||||
| EPS Growth (1Y) | 11.62% | 7.06% | 3.28% | 11.28% | -0.90% | 6.63% | 13.53% | 2.88% | 10.10% | 7.48% | -6.23% | 0.05% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 10.28 | 9.66 | 9.62 | 9.08 | 9.97 | 9.25 | 10.30 | 10.54 | 7.99 | 7.87 | 8.44 | 5.74 | |||||
| P/B TTM | 1.40 | 1.32 | 1.31 | 1.27 | 1.38 | 1.31 | 1.51 | 1.45 | 1.22 | 1.17 | 1.23 | 0.92 | |||||
| P/S TTM | 2.73 | 2.50 | 2.45 | 2.31 | 2.41 | 2.29 | 2.58 | 2.47 | 2.03 | 1.95 | 2.08 | 1.54 | |||||
| Market Cap | 737.78M | 674.50M | 659.64M | 621.17M | 645.72M | 614.04M | 687.86M | 653.93M | 525.69M | 488.25M | 498.74M | 346.62M | |||||
| Enterprise Value | 572.33M | 499.58M | 521.25M | 412.48M | 499.56M | 485.90M | 567.98M | 532.37M | 311.35M | 326.41M | 328.95M | 219.16M | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 38.09M | 38.27M | 70.17M | 76.17M | 63.11M | 53.17M | 55.20M | 58.13M | 66.69M | 67.66M | 69.57M | 53.39M | |||||
| Net Debt | -165.45M | -174.92M | -138.39M | -208.69M | -146.16M | -128.15M | -119.88M | -121.56M | -214.35M | -161.84M | -169.78M | -127.46M | |||||
Per-Share and Margin | |||||||||||||||||
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Turnover Ratios and Averages | |||||||||||||||||
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Growth Rates | |||||||||||||||||
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| Net Profit Margin Growth (5Y) | |||||||||||||||||
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| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
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| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
| NCAV | |||||||||||||||||
| NCAV Per Share TTM | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
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| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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Insider Transactions
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INDEPENDENT BANK CORP /MI/ (IBCP) — SEC Financial Statements & Analysis
INDEPENDENT BANK CORP /MI/ (IBCP) is a state commercial banks company, incorporated in MI. INDEPENDENT BANK CORP /MI/ trades on Nasdaq as: IBCP. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), INDEPENDENT BANK CORP /MI/ reported a 0.69% year-over-year revenue growth, a Gross Profit Margin of 69.02% (TTM), a Price-to-Sales (P/S) ratio of 2.73x (TTM), a Price-to-Book (P/B) ratio of 1.40x (TTM), at a market cap of $737.78M. Figures below are sourced from SEC EDGAR, as-filed.
- Net Revenue TTM Growth 1Y
- 0.69%
- Gross Profit Margin TTM
- 69.02%
- P/S TTM
- 2.73x
- P/B TTM
- 1.40x
- Market Cap
- $737.78M
Data as of 2026-06-30 · Source: SEC EDGAR
Frequently Asked Questions
What industry is INDEPENDENT BANK CORP /MI/ in?
INDEPENDENT BANK CORP /MI/ (IBCP) operates in the State Commercial Banks industry.
What is IBCP's market cap?
INDEPENDENT BANK CORP /MI/ (IBCP) has a market capitalization of $737.78M as of 2026-06-30.
What is IBCP's P/E ratio?
INDEPENDENT BANK CORP /MI/ (IBCP)'s trailing twelve month P/E ratio is 10.28x as of 2026-06-30.
What exchange does IBCP trade on?
INDEPENDENT BANK CORP /MI/ (IBCP) trades on the Nasdaq.
Where is INDEPENDENT BANK CORP /MI/ incorporated?
INDEPENDENT BANK CORP /MI/ is incorporated in MI.