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Independent Bank Corporation IBCP R2KR3KFINANCIAL

Financial Services · Banks - Regional · United States
https://www.independentbank.com
Company Profile ↓
$37.37
+20.24% 1Y
Mkt Cap$829.59M
P/E10.83
P/B1.48
Div. Yield2.91%
52W High$38.50
52W Low$29.27
Book Value$25.65
EPS (TTM)$3.45

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

Steady Revenue Expansion

Revenue has grown at a 41.6% CAGR over the past five years.

Reasonable Valuation

Trades at a P/E of 10.8, below the sector median of 14.5.

Healthy Margins

Maintains a net profit margin of 31.1%.

Dividend Income

Offers a dividend yield of 2.91%.

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 +11.2%, earnings +11.1%.
  • 5-Year Trend Long-term compounding — revenue CAGR 41.6%, profit CAGR 8.1%.

Growth & Price Performance

Compounded Sales Growth

5 Years:41.56%
1 Year:11.20%

Compounded Profit Growth

5 Years:8.10%
1 Year:11.10%

Stock Price Performance

1 Year:+20.24%
6 Months:+10.90%
3 Months:+8.86%
1 Month:-2.94%

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

Technical Snapshot Bullish
52-Week Range 88% of range
$29.27 $38.50
Trend Signals
  • Price vs 50-DMAAbove
  • Price vs 200-DMAAbove
  • RSI (14)53.49 · Neutral
Price Performance
1M-2.94%
3M+8.86%
6M+10.90%
1Y+20.24%
Valuation vs Sector

P/E of 10.83 is below the sector median of 14.52 — 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%.
  • Compounding revenue at 41.6% over 5 years.
  • Attractive dividend yield of 2.91%.
  • 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
10.83
Industry PE
14.52
Forward P/E
9.63
PEG Ratio
1.40
Book Value
$25.65
Price to Book
1.48
P/S
3.66
EV/EBITDA
-
Dividend Yield
2.91%

Growth (CAGR)

Revenue 5Y
41.56%
Profit 5Y
8.10%
Revenue (YoY)
11.20%
Earnings (YoY)
11.10%

Profitability & Returns

ROCE
-
ROE
14.38%
ROA
1.29%
Profit Margin
31.09%
Op Margin
39.93%
Gross Margin
0.00%
EPS (Latest Qtr)
$0.90
EPS (TTM)
$3.45

Balance Sheet & Liquidity

Debt/Equity
-
Quick Ratio
-
Current Ratio
-
Debt
$187.37M
Total Assets
$5.66B
Current Assets
-
Working Capital
-

Ownership

Promoter Holding
4.76%
Chg in Prom Hold
-0.37%
FII / Inst Holding
83.18%
Chg in FII Hold
0.00%

Financial Snapshot

Enterprise Value
$829.59M
Total Revenue (TTM)
$230.76M
EBITDA
-
Free Cash Flow
$70.17M
Operating Cash Flow
$49.35M
Shares Outstanding
22.20M
Gross Margin
0.00%
Payout Ratio
31.30%

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 R2KR3KFINANCIAL 37.37 10.83 $829.59M 2.91% - 14.38% 41.56% 8.10%
2 JPM JPMorgan Chase & Co. SPXR3KFINANCIAL 358.64 15.37 $953.34B 1.68% - 17.79% 12.50% 14.83%
3 BRK-B Berkshire Hathaway Inc. SPXFINANCIAL 506.03 15.07 $707.59B 0.00% - 10.50% 4.18% 9.44%
4 V Visa Inc. SPXR3KFINANCIAL 374.00 31.86 $637.34B 0.72% 37.15% 61.19% 14.33% 13.04%
5 MA Mastercard Incorporated SPXR3KFINANCIAL 579.21 31.82 $503.60B 0.60% 60.19% - 12.29% 19.21%
6 BAC Bank of America Corporation SPXR3KFINANCIAL 62.68 14.48 $438.31B 2.03% - 11.20% 3.14% 4.27%
7 BRK-A Berkshire Hathaway Inc. FINANCIAL 759,350.00 15.07 $384.00B 0.00% - 10.50% 7.60% 10.02%
8 HSBC HSBC Holdings plc FINANCIAL 107.11 15.30 $367.34B 3.62% - 13.10% 9.75% 12.72%
9 MS Morgan Stanley SPXR3KFINANCIAL 217.72 17.59 $342.26B 2.15% - 17.97% 3.76% 9.66%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in USD.

Metric Mar 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 2026Jun 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-7.59M8.20M
Net Income 3.14M6.05M4.93M3.78M5.62M5.05M4.10M6.44M6.37M5.97M5.93M6.86M9.16M8.82M11.93M9.38M10.73M12.45M4.81M14.77M19.58M22.04M12.39M15.96M17.97M13.00M17.30M12.99M14.79M17.54M15.99M18.53M13.81M18.46M15.59M16.88M17.50M18.57M16.88M18.80M
Diluted EPS 0.130.260.210.160.240.220.190.300.300.280.270.320.420.360.490.390.460.550.210.670.891.000.560.730.840.610.810.610.700.830.760.880.650.870.740.810.840.890.810.90

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
4.76%
Institutions
83.18%
Public Float
87.34%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 13.45% 2.98M $110.02M
2 Dimensional Fund Advisors LP 4.01% 890.44K $32.82M
3 Vanguard Capital Management LLC 3.96% 879.62K $32.42M
4 State Street Corporation 3.71% 824.46K $30.39M
5 American Century Companies Inc 3.52% 780.99K $28.79M
6 Acadian Asset Management. LLC 3.41% 756.33K $27.88M
7 Charles Schwab Investment Management, Inc. 3.14% 697.72K $25.72M
8 Renaissance Technologies, LLC 2.78% 617.50K $22.76M
9 Geode Capital Management, LLC 2.42% 537.68K $19.82M
10 Goldman Sachs Group Inc 1.87% 415.99K $15.33M

Analyst View

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Latest News

Recent headlines for IBCP

Google News Fri, 04 Sep 2026

This is Why Independent Bank (IBCP) is a Great Dividend Stock - Yahoo Finance

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Google News hu, 20 Aug 2026

Insider Sale: First Vice Pres. & Controller of $IBCP Sells 300 Shares - quiverquant.com

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Google News Mon, 31 Aug 2026

Independent Bank Corporation $IBCP Shares Acquired by Bank of America Corp DE - marketbeat.com

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Google News hu, 20 Aug 2026

Ibcp controller Kristopher Kreter sells $11,133 in company stock - Investing.com

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Google News Sun, 23 Aug 2026

Independent Bank (IBCP) Reports Q2 Earnings: What Key Metrics Have to Say - Eastern Progress

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Google News hu, 23 Jul 2026

Independent Bank Corp (NASDAQ:IBCP) Delivers Earnings Beat on Strong Revenue Surplus - ChartMill

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IBCP — Frequently Asked Questions

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

As of 2026-09-07 16:24 PDT, Independent Bank Corporation (IBCP) trades at $37.37 on NasdaqGS. Its 52-week range is $29.27 to $38.50.

What is the market capitalisation of IBCP?

Independent Bank Corporation (IBCP) has a market capitalisation of $829.59M on NasdaqGS.

What is the P/E ratio of IBCP?

IBCP trades at a trailing price-to-earnings (P/E) ratio of 10.83. The industry average P/E is 14.52. Its price-to-book (P/B) ratio is 1.48.

Does IBCP pay a dividend?

Independent Bank Corporation (IBCP) currently offers a dividend yield of 2.91%.

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

IBCP has a return on equity (ROE) of 14.38%.

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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