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Independent Bank Corp (Michigan)
NASDAQ:IBCP

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Independent Bank Corp (Michigan) Logo
Independent Bank Corp (Michigan)
NASDAQ:IBCP
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Price: 31.98 USD -2.6% Market Closed
Market Cap: $657.2m
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Financials Section:
Income Statement Balance Sheet Cash Flow Statement

Income Statement

Net Interest Income
+
3Y
+20%
5Y
+46%
10Y
+140%
Non Interest Income
+
3Y
-26%
5Y
-43%
10Y
+14%
Net Income
+
3Y
+8%
5Y
+22%
10Y
+243%

Income Statement
Independent Bank Corp (Michigan)

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Income Statement
Currency: USD
Mar-2002 Jun-2002 Sep-2002 Dec-2002 Mar-2003 Jun-2003 Sep-2003 Dec-2003 Mar-2004 Jun-2004 Sep-2004 Dec-2004 Mar-2005 Jun-2005 Sep-2005 Dec-2005 Mar-2006 Jun-2006 Sep-2006 Dec-2006 Mar-2007 Jun-2007 Sep-2007 Dec-2007 Mar-2008 Jun-2008 Sep-2008 Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025 Dec-2025
Revenue
Net Interest Income
74
78
80
82
83
86
91
95
100
104
110
111
126
132
130
130
128
125
126
123
121
120
120
121
121
124
128
130
134
136
138
139
134
127
119
112
106
101
98
95
92
91
88
86
84
81
79
78
77
76
75
73
73
73
74
75
77
78
79
80
81
83
86
89
92
99
106
113
120
121
123
123
123
122
123
124
124
125
126
130
132
137
143
150
155
157
157
156
158
161
164
166
170
173
177
180
Interest Income
132
131
130
130
130
133
136
139
143
146
153
154
175
187
188
193
197
201
212
217
220
222
223
223
221
216
211
204
198
195
192
189
183
173
161
149
138
129
121
115
110
106
102
99
96
92
89
87
85
84
82
81
80
80
80
81
83
84
85
87
89
91
94
98
102
111
120
131
141
145
148
149
148
144
141
140
137
136
137
138
140
145
154
169
188
208
225
240
251
259
265
267
268
268
269
270
Interest Expense
58
53
50
48
47
47
45
44
44
42
43
43
49
55
57
63
69
76
86
94
99
102
103
103
100
92
83
74
64
59
55
51
49
46
42
37
32
28
24
20
18
15
14
13
12
11
10
9
9
8
8
7
7
7
6
6
6
6
6
7
7
8
8
9
10
12
14
18
21
24
26
26
25
22
18
16
13
12
11
8
8
8
11
19
33
50
68
83
93
98
102
101
98
95
93
90
Non Interest Income
29
29
29
31
34
37
42
43
40
40
40
38
40
40
41
43
45
45
45
45
43
45
47
47
46
47
40
31
32
39
47
60
61
69
68
72
72
55
52
47
49
49
55
64
60
60
55
45
43
40
40
39
39
40
39
40
39
38
39
42
45
46
44
43
44
46
47
45
43
41
41
48
49
59
74
80
96
90
83
76
69
69
66
62
53
54
53
50
55
55
49
56
54
50
53
46
Revenue
103
N/A
107
+3%
109
+2%
113
+3%
117
+4%
123
+5%
133
+8%
138
+4%
139
+1%
145
+4%
150
+4%
150
0%
166
+11%
173
+4%
171
-1%
173
+1%
174
+1%
170
-2%
171
+0%
168
-1%
164
-2%
165
+0%
167
+1%
168
+0%
167
0%
171
+2%
168
-2%
161
-4%
166
+3%
175
+6%
185
+5%
198
+7%
195
-2%
197
+1%
187
-5%
184
-2%
178
-3%
156
-13%
149
-4%
142
-5%
141
0%
140
-1%
143
+2%
150
+5%
144
-4%
141
-2%
135
-5%
123
-9%
120
-3%
116
-3%
115
-1%
112
-3%
112
0%
113
+1%
113
+0%
115
+2%
116
+0%
115
0%
118
+2%
122
+3%
126
+4%
129
+2%
130
+1%
132
+1%
136
+3%
145
+7%
153
+6%
158
+3%
163
+3%
162
0%
164
+1%
170
+4%
171
+1%
181
+6%
197
+9%
204
+4%
220
+8%
215
-2%
209
-3%
206
-2%
201
-2%
206
+2%
209
+2%
211
+1%
208
-1%
211
+1%
210
-1%
207
-1%
213
+3%
216
+1%
212
-2%
223
+5%
224
+1%
223
0%
229
+3%
226
-2%
Pre-Tax Income
Loan Loss Provision
(4)
(4)
(4)
(4)
(4)
(3)
(3)
(4)
(4)
(4)
(6)
(4)
(5)
(7)
(6)
(8)
(8)
(8)
(11)
(16)
(23)
(35)
(42)
(43)
(46)
(44)
(53)
(71)
(90)
(103)
(106)
(103)
(90)
(77)
(64)
(47)
(40)
(32)
(29)
(28)
(22)
(19)
(13)
(7)
(1)
2
3
4
3
3
3
3
4
3
2
3
3
3
3
1
1
(0)
(1)
(1)
(2)
(2)
(1)
(2)
(2)
(2)
(2)
(1)
0
0
0
0
0
2
3
2
3
(1)
(5)
(5)
(9)
(10)
(8)
(6)
(5)
(1)
(2)
(4)
(4)
(6)
(6)
(6)
Non Interest Expense
(63)
(65)
(66)
(68)
(71)
(75)
(80)
(83)
(85)
(91)
(94)
(91)
(104)
(104)
(103)
(102)
(102)
(101)
(100)
(106)
(108)
(112)
(117)
(116)
(118)
(119)
(122)
(178)
(181)
(187)
(202)
(188)
(194)
(194)
(186)
(155)
(149)
(144)
(138)
(134)
(128)
(126)
(124)
(117)
(114)
(112)
(109)
(104)
(101)
(96)
(92)
(90)
(90)
(89)
(89)
(89)
(88)
(88)
(88)
(90)
(92)
(94)
(94)
(92)
(93)
(100)
(104)
(108)
(111)
(108)
(109)
(112)
(119)
(125)
(132)
(135)
(129)
(129)
(129)
(131)
(132)
(132)
(130)
(128)
(128)
(127)
(127)
(127)
(131)
(132)
(132)
(135)
(137)
(138)
(139)
(138)
Pre-Tax Income
36
N/A
38
+5%
39
+3%
41
+4%
43
+5%
45
+5%
50
+10%
51
+3%
51
-2%
50
-1%
50
+0%
55
+10%
57
+3%
62
+9%
62
+1%
63
+1%
64
+2%
62
-4%
59
-4%
46
-23%
33
-27%
17
-48%
8
-53%
9
+9%
3
-67%
8
+178%
(7)
N/A
(89)
-1 230%
(105)
-19%
(115)
-9%
(124)
-7%
(93)
+24%
(89)
+4%
(75)
+16%
(63)
+16%
(18)
+71%
(12)
+37%
(20)
-71%
(17)
+15%
(20)
-21%
(10)
+53%
(5)
+48%
6
N/A
26
+330%
29
+9%
31
+9%
28
-9%
23
-20%
21
-6%
22
+5%
26
+16%
25
-3%
26
+4%
27
+1%
27
+0%
29
+11%
30
+2%
31
+3%
33
+7%
33
+1%
35
+8%
35
-1%
36
+2%
38
+8%
41
+7%
43
+6%
48
+11%
49
+2%
49
+1%
52
+5%
53
+1%
58
+10%
52
-10%
57
+9%
66
+15%
70
+6%
91
+31%
88
-4%
83
-5%
77
-7%
72
-7%
73
+1%
75
+2%
78
+4%
72
-8%
74
+3%
74
+1%
74
-1%
78
+5%
83
+6%
78
-5%
83
+6%
82
-1%
80
-3%
84
+5%
81
-3%
Net Income
Tax Provision
(10)
(11)
(11)
(11)
(12)
(12)
(14)
(14)
(13)
(13)
(13)
(15)
(15)
(17)
(17)
(18)
(17)
(16)
(15)
(12)
(8)
(3)
1
1
3
1
7
(3)
(5)
(4)
(9)
3
4
3
3
2
1
2
1
0
0
(0)
(1)
0
(0)
56
56
55
53
(5)
(7)
(7)
(8)
(8)
(8)
(9)
(10)
(10)
(10)
(10)
(11)
(11)
(11)
(12)
(11)
(11)
(11)
(9)
(9)
(10)
(10)
(11)
(10)
(11)
(13)
(13)
(17)
(17)
(16)
(14)
(13)
(14)
(14)
(14)
(13)
(14)
(14)
(15)
(16)
(17)
(16)
(16)
(16)
(15)
(15)
(13)
Income from Continuing Operations
26
27
28
30
31
33
36
38
37
37
37
40
41
45
45
46
47
46
44
34
25
14
9
10
6
10
1
(92)
(111)
(119)
(132)
(90)
(85)
(72)
(61)
(17)
(10)
(18)
(16)
(20)
(9)
(5)
6
26
29
88
85
78
75
18
19
18
19
18
18
20
20
21
22
23
25
24
25
27
30
33
38
40
40
42
43
46
42
46
53
56
73
71
67
63
59
59
61
63
58
60
60
59
62
66
62
67
66
65
68
69
Net Income (Common)
26
N/A
27
+4%
28
+3%
30
+5%
31
+6%
33
+6%
36
+10%
38
+4%
37
-1%
37
0%
37
N/A
39
+4%
41
+7%
45
+8%
46
+4%
47
+1%
48
+2%
46
-3%
44
-5%
33
-25%
25
-24%
14
-42%
8
-43%
10
+26%
6
-38%
10
+52%
1
-92%
(92)
N/A
(112)
-22%
(121)
-9%
(136)
-12%
(95)
+30%
(90)
+5%
(77)
+14%
(65)
+15%
(21)
+68%
(14)
+31%
(22)
-54%
(20)
+12%
(24)
-25%
(14)
+45%
(9)
+31%
1
N/A
22
+1 624%
24
+10%
83
+245%
88
+6%
82
-7%
80
-2%
24
-70%
19
-22%
18
-5%
19
+4%
18
-2%
18
+1%
20
+9%
20
+2%
21
+4%
22
+6%
23
+1%
25
+8%
24
-2%
25
+2%
21
-17%
24
+15%
27
+12%
32
+19%
40
+26%
40
+1%
42
+5%
43
+1%
46
+9%
42
-10%
46
+10%
53
+16%
56
+6%
73
+31%
71
-3%
67
-5%
63
-7%
59
-6%
59
+1%
61
+2%
63
+4%
58
-8%
60
+3%
60
+0%
59
-2%
62
+5%
66
+6%
62
-6%
67
+8%
66
-1%
65
-2%
68
+6%
69
+0%
EPS (Diluted)
11.41
N/A
11.97
+5%
12.46
+4%
12.82
+3%
14.17
+11%
14.87
+5%
16.39
+10%
17.09
+4%
16.82
-2%
16.47
-2%
15.63
-5%
16.78
+7%
17.32
+3%
18.71
+8%
19.04
+2%
19.54
+3%
20.58
+5%
19.92
-3%
19.02
-5%
14.43
-24%
10.86
-25%
6.39
-41%
3.62
-43%
4.52
+25%
2.82
-38%
4.26
+51%
0.34
-92%
-39.95
N/A
-47.81
-20%
-50.61
-6%
-56.47
-12%
-39.37
+30%
-37.4
+5%
-4.35
+88%
-8.66
-99%
-4.09
+53%
-1.8
+56%
-2.66
-48%
-2.32
+13%
-2.94
-27%
-0.28
+90%
-0.22
+21%
0.03
N/A
0.8
+2 567%
1.1
+38%
3.45
+214%
4.15
+20%
3.75
-10%
3.43
-9%
1.03
-70%
0.81
-21%
0.77
-5%
0.8
+4%
0.78
-3%
0.79
+1%
0.86
+9%
0.92
+7%
0.97
+5%
1.04
+7%
1.05
+1%
1.15
+10%
1.12
-3%
1.14
+2%
0.94
-18%
1.09
+16%
1.08
-1%
1.28
+19%
1.68
+31%
1.67
-1%
1.8
+8%
1.86
+3%
2
+8%
1.85
-7%
2.07
+12%
2.38
+15%
2.53
+6%
3.33
+32%
3.22
-3%
3.1
-4%
2.88
-7%
2.74
-5%
2.79
+2%
2.86
+3%
2.97
+4%
2.74
-8%
2.83
+3%
2.85
+1%
2.79
-2%
2.95
+6%
3.13
+6%
2.95
-6%
3.16
+7%
3.14
-1%
3.07
-2%
3.25
+6%
3.27
+1%

See Also

Summary
IBCP intrinsic value, competitors valuation, and company profile.
DCF Valuation
IBCP stock valuation using Discount Cash Flow valuation method.
Relative Valuation
IBCP stock valuation using valuation multiples.
Wall Street Estimates
IBCP price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
IBCP stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
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