See more : NRB Bearings Limited (NRBBEARING.NS) 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 Corporation Announces Date for Its Second Quarter 2023 Earnings Release
GRAND RAPIDS, Mich., June 29, 2023 (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 2023 second quarter results on Tuesday, July 25, 2023,...
Independent Bank Corporation (IBCP) Q1 2023 Earnings Call Transcript
Independent Bank Corporation (NASDAQ:IBCP ) Q1 2023 Results Conference Call April 27, 2023 11:00 AM ET Company Participants Brad Kessel - President and CEO Gavin Mohr - EVP and CFO Joel Rahn - EVP, Commercial Banking for Independent Conference Call...
Independent Bank (IBCP) Beats Q1 Earnings Estimates
Independent Bank (IBCP) came out with quarterly earnings of $0.61 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.84 per share a year ago.
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Independent Bank Corporation Announces Date for Its First Quarter 2023 Earnings Release
GRAND RAPIDS, Mich., March 29, 2023 (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 2023 first quarter results on Thursday, April 27, 2023,...
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GNSS, COP and IBCP have been added to the Zacks Rank #5 (Strong Sell) List on February 10, 2023.
Independent Bank Corporation (IBCP) Q4 2022 Earnings Call Transcript
Independent Bank Corporation (NASDAQ:IBCP ) Q4 2022 Earnings Conference Call January 26, 2023 11:00 AM ET Company Participants William Kessel - President & CEO Joel Rahn - EVP & Head of Commercial Banking Gavin Mohr - EVP & CFO Conference...
Will Independent Bank (IBCP) Beat Estimates Again in Its Next Earnings Report?
Independent Bank (IBCP) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Surging Earnings Estimates Signal Upside for Independent Bank (IBCP) Stock
Independent Bank (IBCP) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Independent Bank Corporation (IBCP) Q3 2022 Earnings Call Transcript
Independent Bank Corporation (NASDAQ:IBCP ) Q3 2022 Earnings Conference Call October 25, 2022 11:00 AM ET Company Participants William Kessel - President and Chief Executive Officer Joel Rahn - Executive Vice President and Head of Commercial Banking Gavin Mohr -...
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