See more : Hydrix Limited (HYD.AX) Income Statement Analysis – Financial Results
Complete financial analysis of Independent Bank Corporation (IBCP) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Independent Bank Corporation, a leading company in the Banks – Regional industry within the Financial Services sector.
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Independent Bank Corporation (IBCP)
About Independent Bank Corporation
Independent Bank Corporation operates as the bank holding company for Independent Bank that provides various banking services to individuals and businesses. The company offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services, as well as automatic teller machine, and Internet and mobile banking services. It also provides title insurance, insurance brokerage, and investment services. The company offers its services through approximately 59 branches, two drive-thru facilities, and seven loan production offices in Michigan; and two loan production offices in Ohio. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | 1988 | 1987 | 1986 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 200.50M | 204.57M | 199.03M | 197.52M | 164.10M | 152.97M | 128.41M | 117.28M | 108.57M | 104.40M | 111.76M | 127.71M | 141.48M | 165.86M | 197.26M | 159.87M | 167.74M | 165.25M | 178.61M | 155.33M | 137.86M | 112.72M | 105.98M | 89.51M | 84.10M | 63.00M | 51.10M | 40.30M | 31.90M | 28.30M | 24.00M | 22.20M | 19.40M | 17.00M | 15.70M | 0.00 | 0.00 | 0.00 |
| Cost of Revenue | -94.06M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 294.56M | 204.57M | 199.03M | 197.52M | 164.10M | 152.97M | 128.41M | 117.28M | 108.57M | 104.40M | 111.76M | 127.71M | 141.48M | 165.86M | 197.26M | 159.87M | 167.74M | 165.25M | 178.61M | 155.33M | 137.86M | 112.72M | 105.98M | 89.51M | 84.10M | 63.00M | 51.10M | 40.30M | 31.90M | 28.30M | 24.00M | 22.20M | 19.40M | 17.00M | 15.70M | 0.00 | 0.00 | 0.00 |
| Gross Profit Ratio | 146.91% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 0.00% | 0.00% | 0.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 81.97M | 83.15M | 95.27M | 88.11M | 80.04M | 74.27M | 66.32M | 61.72M | 60.45M | 59.25M | 61.30M | 68.57M | 70.95M | 68.07M | 61.39M | 55.18M | 55.81M | 50.80M | 53.70M | 50.08M | 43.56M | 37.34M | 37.91M | 33.51M | 34.30M | 26.00M | 20.30M | 15.70M | 12.20M | 10.60M | 8.50M | 7.40M | 6.30M | 5.60M | 5.20M | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 2.17M | 2.07M | 1.92M | 2.23M | 2.45M | 2.16M | 1.91M | 1.86M | 2.12M | 2.19M | 2.43M | 2.49M | 2.50M | 2.71M | 5.70M | 5.53M | 5.51M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 109.27M | 85.22M | 97.19M | 90.34M | 82.49M | 76.42M | 68.23M | 63.58M | 62.57M | 61.44M | 63.73M | 71.06M | 73.45M | 70.78M | 67.09M | 60.71M | 61.33M | 50.80M | 53.70M | 50.08M | 43.56M | 37.34M | 37.91M | 33.51M | 34.30M | 26.00M | 20.30M | 15.70M | 12.20M | 10.60M | 8.50M | 7.40M | 6.30M | 5.60M | 5.20M | 0.00 | 0.00 | 0.00 |
| Other Expenses | 0.00 | -192.56M | -218.91M | -218.37M | -188.82M | -162.77M | -149.08M | -141.07M | -135.91M | -133.33M | -143.67M | -159.43M | -215.15M | -17.60M | 82.00K | -235.60M | -117.14M | -77.49M | -98.64M | -108.04M | -85.98M | -61.19M | -47.74M | -27.88M | -47.70M | -37.80M | -24.10M | -20.00M | -16.70M | -18.00M | -13.70M | -9.10M | -1.60M | 800.00K | 1.10M | 1.80M | 1.50M | 1.40M |
| Operating Expenses | 109.27M | -107.34M | -121.72M | -128.04M | -106.34M | -86.35M | -80.85M | -77.49M | -73.34M | -71.89M | -79.94M | -88.37M | -141.70M | 53.18M | 67.17M | -174.88M | -55.82M | -26.68M | -44.94M | -57.96M | -42.43M | -23.85M | -9.84M | 5.63M | -13.40M | -11.80M | -3.80M | -4.30M | -4.50M | -7.40M | -5.20M | -1.70M | 4.70M | 6.40M | 6.30M | 1.80M | 1.50M | 1.40M |
| Cost & Expenses | 109.27M | -107.34M | -121.72M | -128.04M | -106.34M | -86.35M | -80.85M | -77.49M | -73.34M | -71.89M | -79.94M | -88.37M | -141.70M | 53.18M | 67.17M | -174.88M | -55.82M | -26.68M | -44.94M | -57.96M | -42.43M | -23.85M | -9.84M | 5.63M | -13.40M | -11.80M | -3.80M | -4.30M | -4.50M | -7.40M | -5.20M | -1.70M | 4.70M | 6.40M | 6.30M | 1.80M | 1.50M | 1.40M |
| Interest Income | 239.68M | 169.01M | 138.08M | 139.83M | 148.93M | 130.77M | 98.31M | 86.52M | 80.84M | 80.56M | 87.12M | 99.40M | 114.76M | 148.85M | 189.06M | 203.74M | 223.25M | 216.90M | 204.92M | 162.55M | 139.37M | 129.82M | 141.36M | 138.42M | 125.50M | 86.10M | 77.40M | 59.50M | 46.00M | 37.80M | 31.50M | 33.40M | 35.90M | 34.00M | 32.40M | 0.00 | 0.00 | 0.00 |
| Interest Expense | 83.35M | 19.45M | 8.32M | 16.22M | 26.35M | 17.49M | 9.12M | 6.88M | 5.86M | 7.30M | 9.16M | 13.14M | 20.19M | 37.20M | 50.53M | 73.59M | 102.66M | 93.70M | 68.56M | 45.01M | 44.11M | 48.01M | 62.46M | 67.87M | 58.70M | 36.90M | 34.80M | 24.80M | 17.90M | 12.60M | 11.30M | 13.80M | 18.80M | 19.40M | 18.60M | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 5.75M | 6.09M | 6.37M | 6.32M | 6.29M | 6.07M | 5.65M | 6.15M | 4.55M | 3.01M | -2.20M | -4.72M | -11.30M | -27.72M | -43.34M | -22.78M | -12.56M | -9.84M | -12.50M | -3.00M | 7.77M | 6.51M | 6.56M | 6.54M | 6.10M | 4.50M | 4.20M | 2.80M | 2.20M | 500.00K | 1.60M | 1.00M | 400.00K | 400.00K | 700.00K | 0.00 | 0.00 | 0.00 |
| EBITDA | 79.42M | 83.87M | 83.68M | 78.64M | 63.82M | 55.17M | 39.43M | 38.12M | 33.93M | 0.00 | 29.62M | 34.86M | 0.00 | 37.70M | -67.68M | -50.34M | 0.00 | 75.42M | 50.27M | 69.01M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.80M | 1.50M | 1.40M |
| EBITDA Ratio | 39.61% | 52.82% | 44.94% | 39.81% | 38.89% | 47.50% | 42.46% | 38.37% | 36.65% | 34.03% | 26.51% | 27.11% | -8.14% | -5.32% | -43.72% | -23.64% | 59.24% | 77.90% | 67.84% | 60.75% | 74.86% | 84.62% | 96.91% | 113.59% | 91.32% | 88.41% | 100.78% | 96.28% | 92.79% | 75.62% | 85.00% | 96.85% | 126.29% | 140.00% | 144.59% | 0.00% | 0.00% | 0.00% |
| Operating Income | 91.53M | 97.24M | 77.31M | 69.48M | 57.76M | 66.62M | 47.56M | 39.78M | 35.24M | 32.52M | 31.82M | 39.34M | -219.00K | 18.90M | -42.90M | -15.01M | 111.92M | 138.56M | 133.67M | 97.37M | 95.43M | 88.87M | 96.15M | 95.14M | 70.70M | 51.20M | 47.30M | 36.00M | 27.40M | 20.90M | 18.80M | 20.50M | 24.10M | 23.40M | 22.00M | 1.80M | 1.50M | 1.40M |
| Operating Income Ratio | 45.65% | 47.53% | 38.84% | 35.18% | 35.20% | 43.55% | 37.04% | 33.92% | 32.45% | 31.14% | 28.47% | 30.81% | -0.15% | 11.39% | -21.75% | -9.39% | 66.72% | 83.85% | 74.84% | 62.68% | 69.23% | 78.84% | 90.72% | 106.29% | 84.07% | 81.27% | 92.56% | 89.33% | 85.89% | 73.85% | 78.33% | 92.34% | 124.23% | 137.65% | 140.13% | 0.00% | 0.00% | 0.00% |
| Total Other Income/Expenses | -17.85M | -17.16M | -20.20M | -417.00K | 0.00 | -3.47M | -10.88M | -13.18M | 1.19M | -9.00K | 2.20M | -2.79M | -20.19M | -18.30M | -50.53M | -73.59M | -1.77M | -93.08M | 1.95M | -7.58M | -44.11M | -48.01M | -62.43M | -67.87M | -58.70M | -36.90M | -34.80M | -24.80M | -17.90M | -12.60M | -11.30M | -13.80M | -18.70M | -19.40M | -18.60M | 0.00 | 0.00 | 0.00 |
| Income Before Tax | 73.68M | 77.79M | 77.31M | 69.48M | 57.76M | 49.13M | 38.44M | 32.90M | 29.38M | 25.22M | 22.66M | 26.20M | -20.41M | -18.30M | -93.44M | -88.60M | 8.85M | 45.49M | 65.12M | 52.35M | 51.32M | 40.86M | 33.72M | 27.28M | 12.00M | 14.30M | 12.50M | 11.20M | 9.50M | 8.30M | 7.50M | 6.70M | 5.40M | 4.00M | 3.40M | 0.00 | 0.00 | 0.00 |
| Income Before Tax Ratio | 36.75% | 38.02% | 38.84% | 35.18% | 35.20% | 32.12% | 29.93% | 28.05% | 27.06% | 24.15% | 20.27% | 20.51% | -14.43% | -11.03% | -47.37% | -55.42% | 5.28% | 27.53% | 36.46% | 33.70% | 37.23% | 36.25% | 31.82% | 30.47% | 14.27% | 22.70% | 24.46% | 27.79% | 29.78% | 29.33% | 31.25% | 30.18% | 27.84% | 23.53% | 21.66% | 0.00% | 0.00% | 0.00% |
| Income Tax Expense | 14.61M | 14.44M | 14.42M | 13.33M | 11.33M | 9.29M | 17.96M | 10.14M | 9.36M | 7.20M | -54.85M | 0.00 | -212.00K | -1.59M | -3.21M | 3.06M | -1.10M | 11.66M | 18.21M | 13.80M | 13.73M | 11.40M | 9.29M | 7.27M | 3.30M | 4.10M | 3.60M | 3.30M | 2.70M | 2.30M | 2.10M | 1.90M | 1.50M | 1.10M | 700.00K | -1.80M | -1.50M | -1.40M |
| Net Income | 59.07M | 63.35M | 62.90M | 56.15M | 46.44M | 39.84M | 20.48M | 22.77M | 20.02M | 18.02M | 77.51M | 26.20M | -20.20M | -16.71M | -90.23M | -91.66M | 10.36M | 33.20M | 46.91M | 38.56M | 37.59M | 29.47M | 24.40M | 20.01M | 8.70M | 10.20M | 8.90M | 7.90M | 6.80M | 6.00M | 5.40M | 4.80M | 3.80M | 2.90M | 2.70M | 1.80M | 1.50M | 1.40M |
| Net Income Ratio | 29.46% | 30.97% | 31.60% | 28.43% | 28.30% | 26.04% | 15.95% | 19.41% | 18.44% | 17.26% | 69.35% | 20.51% | -14.28% | -10.07% | -45.74% | -57.34% | 6.17% | 20.09% | 26.26% | 24.82% | 27.27% | 26.14% | 23.02% | 22.35% | 10.34% | 16.19% | 17.42% | 19.60% | 21.32% | 21.20% | 22.50% | 21.62% | 19.59% | 17.06% | 17.20% | 0.00% | 0.00% | 0.00% |
| EPS | 2.82 | 3.00 | 2.91 | 2.56 | 2.03 | 1.70 | 0.96 | 1.06 | 0.88 | 0.79 | 5.87 | 2.51 | -2.44 | -3.28 | -37.81 | -39.88 | 4.60 | 14.50 | 19.14 | 16.24 | 15.78 | 8.85 | 6.75 | 8.08 | 3.47 | 4.79 | 0.17 | 4.96 | 4.34 | 0.63 | 0.58 | 0.55 | 0.49 | 0.40 | 0.35 | 1.60 | 1.88 | 1.77 |
| EPS Diluted | 2.79 | 2.97 | 2.88 | 2.53 | 2.00 | 1.68 | 0.95 | 1.05 | 0.86 | 0.77 | 3.55 | 0.80 | -0.29 | -0.40 | -37.70 | -39.77 | 4.50 | 14.30 | 18.76 | 15.96 | 15.42 | 8.69 | 6.65 | 8.03 | 3.42 | 4.75 | 0.17 | 4.96 | 4.34 | 0.63 | 0.58 | 0.55 | 0.43 | 0.33 | 0.29 | 1.60 | 1.88 | 1.77 |
| Weighted Avg Shares Out | 20.98M | 21.10M | 21.59M | 21.98M | 22.89M | 23.41M | 21.33M | 21.48M | 22.72M | 22.93M | 13.97M | 8.71M | 8.28M | 5.09M | 2.39M | 2.30M | 2.26M | 2.29M | 2.39M | 2.48M | 2.38M | 2.35M | 2.42M | 2.48M | 2.51M | 1.63M | 1.60M | 1.59M | 1.57M | 1.57M | 1.43M | 1.43M | 1.42M | 1.15M | 1.14M | 1.12M | 798.14K | 790.33K |
| Weighted Avg Shares Out (Dil) | 21.17M | 21.30M | 21.81M | 22.22M | 23.18M | 23.77M | 21.65M | 21.68M | 23.18M | 23.47M | 21.86M | 32.89M | 69.69M | 41.47M | 2.39M | 2.30M | 2.28M | 2.32M | 2.44M | 2.53M | 2.44M | 2.39M | 2.46M | 2.49M | 2.54M | 1.63M | 1.60M | 1.59M | 1.57M | 1.57M | 1.43M | 1.43M | 1.42M | 1.15M | 1.14M | 1.12M | 798.14K | 790.33K |
Independent Bank: Fairly Valued With A Stable Earnings Outlook
Independent Bank's efforts to boost loan growth will likely compensate for a sub-optimal operating environment in Michigan. The net interest margin could slip further because of interest rate cuts. I've slightly raised my earnings estimate for 2024, as most income...
Independent Bank Corporation (IBCP) Q3 2024 Earnings Call Transcript
Independent Bank Corporation (NASDAQ:IBCP ) Q3 2024 Earnings Call Transcript October 24, 2024 11:00 AM ET Company Participants Brad Kessel - President & Chief Executive Officer Joel Rahn - Executive President & Head of Commercial Banking Gavin Mohr - Executive...
Independent Bank (IBCP) Reports Q3 Earnings: What Key Metrics Have to Say
While the top- and bottom-line numbers for Independent Bank (IBCP) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street...
Independent Bank (IBCP) Misses Q3 Earnings and Revenue Estimates
Independent Bank (IBCP) came out with quarterly earnings of $0.65 per share, missing the Zacks Consensus Estimate of $0.76 per share. This compares to earnings of $0.83 per share a year ago.
Independent Bank Corporation Reports 2024 Third Quarter Results
Third Quarter Highlights Highlights for the third quarter of 2024 include: Increases in net interest income of $0.5 million (or 4.9% annualized) from June 30, 2024; An increase in tangible book value per share of $3.69 (22.3%) over the third...
Independent Bank Corporation Announces Quarterly Cash Dividend on Common Stock
GRAND RAPIDS, Mich., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock...
Independent Bank Corporation Announces Date for Its Third Quarter 2024 Earnings Release
GRAND RAPIDS, Mich., Sept. 23, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that it expects to issue its 2024 third quarter results on Thursday, October 24, 2024,...
New Strong Buy Stocks for August 2nd
SVM, IBCP, TMDX, WT and YELP have been added to the Zacks Rank #1 (Strong Buy) List on August 2, 2024.
Best Value Stocks to Buy for August 2nd
IBCP, BTE, and SVM made it to the Zacks Rank #1 (Strong Buy) value stocks list on August 2, 2024.
Independent Bank (IBCP) Surpasses Q2 Earnings and Revenue Estimates
Independent Bank (IBCP) came out with quarterly earnings of $0.88 per share, beating the Zacks Consensus Estimate of $0.71 per share. This compares to earnings of $0.70 per share a year ago.
Source: https://incomestatements.info
Category: Stock Reports