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Independent Bank Corporation IBCP R2K

Financial Services · Banks - Regional · United States
https://www.independentbank.com
Company Profile ↓
$35.89
+7.74% 1Y
Mkt Cap$739.55M
P/E10.75
P/B1.43
Div. Yield3.16%
52W High$36.70
52W Low$29.10
Book Value$24.80
EPS (TTM)$3.34

Company Overview

Independent Bank Corporation operates as the bank holding company for Independent Bank that provides banking services in the United States. The company offers demand deposits, interest checking, money market accounts, savings accounts, and time certificates of deposit, including free checking accounts. It also provides consumer loans that consists of real estate loans comprising residential mortgages and home equity loans and lines, all secured by one-to-four family residential properties, as well as other consumer loans; and investment and financial services. In addition, the company offers cash management; investment management and trust services; additional services, such as estate settlement, financial planning, tax services, and other special services; sale of mutual fund shares, unit investment trust shares, third party model portfolios, general securities, and fixed and variable annuities, as well as life insurance products; debit and credit card; safe deposit box services; automatic teller machines; and internet and mobile banking services. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.

Why Investors Should Care

Reasonable Valuation

Trades at a P/E of 10.8, below the sector median of 13.3.

Healthy Margins

Maintains a net profit margin of 31.1%.

Dividend Income

Offers a dividend yield of 3.16%.

Positive Free Cash Flow

Generates positive free cash flow, funding growth and shareholder returns internally.

Recent Developments

  • Dec 2025 Revenue of $218.33M (+1.2% YoY); net profit $68.54M.
  • Trailing 12 Months Year-on-year growth — revenue +9.7%, earnings +9.5%.
  • 5-Year Trend Long-term compounding — revenue CAGR 2.2%, profit CAGR 2.7%.

Growth & Price Performance

Compounded Sales Growth

5 Years:2.16%
1 Year:9.70%

Compounded Profit Growth

5 Years:2.66%
1 Year:9.50%

Stock Price Performance

1 Year:+7.74%
6 Months:+10.42%
3 Months:+4.03%
1 Month:+1.61%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Bullish
52-Week Range 89% of range
$29.10 $36.70
Trend Signals
  • Price vs 50-DMAAbove
  • Price vs 200-DMAAbove
  • RSI (14)55.69 · Neutral
Price Performance
1M+1.61%
3M+4.03%
6M+10.42%
1Y+7.74%
Valuation vs Sector

P/E of 10.75 is below the sector median of 13.30 — relatively cheaper than peers.

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

Robinhood TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Excellent profit margin of 31.1%.
  • Attractive dividend yield of 3.16%.
  • Generates positive free cash flow.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
10.75
Industry PE
13.30
Forward P/E
9.38
PEG Ratio
1.40
Book Value
$24.80
Price to Book
1.43
P/S
3.25
EV/EBITDA
-
Dividend Yield
3.16%

Growth (CAGR)

Revenue 5Y
2.16%
Profit 5Y
2.66%
Revenue (YoY)
9.70%
Earnings (YoY)
9.50%

Profitability & Returns

ROCE
-
ROE
14.28%
ROA
1.28%
Profit Margin
31.08%
Op Margin
39.00%
Gross Margin
0.00%
EPS (Latest Qtr)
$0.81
EPS (TTM)
$3.34

Balance Sheet & Liquidity

Debt/Equity
-
Quick Ratio
-
Current Ratio
-
Debt
$89.69M
Total Assets
$5.56B
Current Assets
-
Working Capital
-

Ownership

Promoter Holding
4.98%
Chg in Prom Hold
-
FII / Inst Holding
87.93%
Chg in FII Hold
-0.01%

Financial Snapshot

Enterprise Value
$739.55M
Total Revenue (TTM)
$224.68M
EBITDA
-
Free Cash Flow
$70.17M
Operating Cash Flow
$48.25M
Shares Outstanding
20.61M
Gross Margin
0.00%
Payout Ratio
31.74%

Peer comparison

Peer companies in the same sector (Financial Services).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 IBCP Independent Bank Corporation R2K 35.89 10.75 $739.55M 3.16% - 14.28% 2.16% 2.66%
2 JPM JPMorgan Chase & Co. SPX 342.89 16.42 $918.78B 1.87% - 16.47% 5.35% 7.56%
3 BRK-B Berkshire Hathaway Inc. SPX 491.09 14.61 $686.70B 0.00% - 10.50% 4.18% 9.44%
4 V Visa Inc. SPX 356.02 31.01 $590.89B 0.83% 37.15% 60.35% 14.33% 13.04%
5 MA Mastercard Incorporated SPX 538.02 31.10 $471.86B 0.71% 60.19% - 12.29% 19.21%
6 BAC Bank of America Corporation SPX 60.62 15.04 $430.20B 2.00% - 10.64% 6.00% 3.49%
7 MS Morgan Stanley SPX 227.67 20.62 $359.10B 1.87% - 16.39% 3.76% 9.66%
8 GS The Goldman Sachs Group, Inc. SPX 1,140.00 20.83 $336.31B 1.69% - 14.55% - 2.21%
9 WFC Wells Fargo & Company SPX 85.29 13.18 $261.00B 2.11% - 12.03% 4.02% 15.98%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in USD.

Metric Sep 2013Mar 2014Jun 2014Sep 2014Mar 2015Jun 2015Sep 2015Mar 2016Jun 2016Sep 2016Mar 2017Jun 2017Sep 2017Mar 2018Jun 2018Sep 2018Mar 2019Jun 2019Sep 2019Mar 2020Jun 2020Sep 2020Mar 2021Jun 2021Sep 2021Mar 2022Jun 2022Sep 2022Mar 2023Jun 2023Sep 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue -------------6.28M6.82M6.89M6.00M6.51M6.83M6.19M5.09M6.64M6.11M6.87M8.46M7.40M7.83M8.52M7.57M8.07M9.11M7.58M7.90M8.84M-7.34M7.88M8.92M-7.59M
Net Income 3.50M3.14M6.05M4.93M3.78M5.62M5.05M4.10M6.44M6.37M5.97M5.93M6.86M9.16M8.82M11.93M9.38M10.73M12.45M4.81M14.77M19.58M22.04M12.39M15.96M17.97M13.00M17.30M12.99M14.79M17.54M15.99M18.53M13.81M18.46M15.59M16.88M17.50M18.57M16.88M
Diluted EPS 0.170.130.260.210.160.240.220.190.300.300.280.270.320.420.360.490.390.460.550.210.670.891.000.560.730.840.610.810.610.700.830.760.880.650.870.740.810.840.890.81

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue ---------27.13M25.95M24.03M-204.78M200.48M215.80M218.33M
Cost of Revenue -----------------
Gross Profit -----------------
Operating Expenses -----------------
Operating Income -----------------
EBITDA -----------------
Interest Expense -------------19.45M83.35M100.53M89.72M
Pretax Income -------------77.79M73.68M83.05M81.29M
Tax Provision -------------14.44M14.61M16.26M12.75M
Net Income -90.23M-16.71M-20.20M26.20M77.51M18.02M20.02M22.77M20.48M39.84M46.44M56.15M-63.35M59.07M66.79M68.54M
Diluted EPS -39.60-4.09-2.940.803.550.770.861.050.951.682.002.53-2.972.793.163.27

Balance Sheet (Annual)

Figures in USD.

Metric Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets --2.54B2.31B2.02B2.21B2.25B2.41B2.55B2.79B3.35B3.56B4.20B4.70B5.00B5.26B5.34B5.51B
Total Equity 194.88M109.86M119.08M102.63M134.97M231.58M250.37M252.34M249.33M264.93M338.99M350.17M389.52M398.48M347.60M404.45M454.69M502.95M
Cash & Equivalents 57.70M288.74M385.37M341.11M179.78M119.08M74.02M85.78M83.19M54.74M70.24M65.30M118.70M109.47M74.37M169.78M119.88M138.39M
Total Liabilities --2.42B2.20B1.89B1.98B2.00B2.16B2.30B2.52B3.01B3.21B3.81B4.31B4.65B4.86B4.88B5.00B

Cash Flows (Annual)

Figures in USD.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow 4.38M-2.50M35.41M29.39M52.07M-22.86M23.70M38.61M44.92M34.49M58.68M110.15M94.63M75.59M63.15M76.66M
Investing Cash Flow 147.63M483.33M127.46M-273.89M-221.07M--160.51M-138.85M-277.58M-183.37M-182.15M-553.91M-563.06M-424.59M-162.94M-118.16M-122.50M
Financing Cash Flow 79.02M-384.19M-207.13M83.18M108.30M-149.43M112.56M210.51M153.95M142.72M548.62M443.68M294.86M182.77M5.11M64.34M
Capital Expenditure -8.00M-4.76M-2.78M-5.29M-8.37M-4.30M-4.35M-3.46M-4.24M-3.86M-4.94M-4.38M-5.84M-5.68M-6.02M-7.95M-6.49M
Free Cash Flow -3.62M-7.26M32.63M24.10M43.70M-18.50M20.25M34.37M41.06M29.56M54.30M104.32M88.95M69.56M55.20M70.17M
Share Buybacks ----0013.50M16.85M012.68M26.28M14.23M17.27M4.01M5.16M012.43M
Dividends Paid 3.38M00004.13M5.90M7.27M8.96M14.05M16.55M17.62M18.16M18.57M19.33M20.05M21.60M

Ratios (Annual)

Figures in %.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % -----------------
Operating Margin % -----------------
Net Margin % ---------146.9%178.9%233.7%-30.9%29.5%30.9%31.4%
ROE % -82.1%-14.0%-19.7%19.4%33.5%7.2%7.9%9.1%7.7%11.8%13.3%14.4%-18.2%14.6%14.7%13.6%
ROCE % -----------------

Shareholding Pattern

Insiders
4.98%
Institutions
87.93%
Public Float
92.54%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 14.04% 2.89M $103.85M
2 Vanguard Capital Management LLC 4.39% 905.20K $32.49M
3 Dimensional Fund Advisors LP 4.18% 861.15K $30.91M
4 American Century Companies Inc 3.46% 713.26K $25.60M
5 State Street Corporation 3.46% 713.19K $25.60M
6 Charles Schwab Investment Management, Inc. 3.02% 623.03K $22.36M
7 Acadian Asset Management. LLC 2.89% 595.78K $21.39M
8 Renaissance Technologies, LLC 2.83% 582.29K $20.90M
9 FMR, LLC 2.75% 566.15K $20.32M
10 Goldman Sachs Group Inc 2.64% 543.15K $19.50M

Analyst View

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Latest News

Recent headlines for IBCP

Google News hu, 25 Jun 2026

Independent Bank (IBCP) Stock Sees Split Analyst Revisions As Fair Value Edges Lower - Yahoo Finance

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Google News Sun, 12 Jul 2026

ETFs Investing in Independent Bank Corporation Stocks - TradingView

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Google News Mon, 06 Jul 2026

Independent Bank to reveal Q2 results July 23 with CEO call - Stock Titan

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Google News hu, 09 Jul 2026

Independent Bank Corporation $IBCP Shares Acquired by Y Intercept Hong Kong Ltd - MarketBeat

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Google News Fri, 10 Jul 2026

IBCP Upgraded by Hovde Group -- Price Target Raised to $41.00 - GuruFocus

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3 Dividend Stocks To Consider With Yields Up To 4.7% - simplywall.st

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IBCP — Frequently Asked Questions

What is the current share price of Independent Bank Corporation (IBCP)?

As of 2026-07-14 21:23 PDT, Independent Bank Corporation (IBCP) trades at $35.89 on NasdaqGS. Its 52-week range is $29.10 to $36.70.

What is the market capitalisation of IBCP?

Independent Bank Corporation (IBCP) has a market capitalisation of $739.55M on NasdaqGS.

What is the P/E ratio of IBCP?

IBCP trades at a trailing price-to-earnings (P/E) ratio of 10.75. The industry average P/E is 13.30. Its price-to-book (P/B) ratio is 1.43.

Does IBCP pay a dividend?

Independent Bank Corporation (IBCP) currently offers a dividend yield of 3.16%.

What is the return on equity (ROE) of IBCP?

IBCP has a return on equity (ROE) of 14.28%.

Is IBCP a good stock to buy?

This page provides a data-driven analysis of Independent Bank Corporation (IBCP), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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