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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 |
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Are Investors Undervaluing Independent Bank (IBCP) Right Now?
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Independent Bank Corporation's (IBCP) CEO Brad Kessel on Q1 2022 Results - Earnings Call Transcript
Independent Bank Corporation (NASDAQ:IBCP ) Q1 2022 Earnings Conference Call April 26, 2022 11:00 AM ET Company Participants Brad Kessel - President & CEO Gavin Mohr - EVP & CFO Joel Rahn - EVP, Commercial Banking Conference Call Participants Brendan...
Independent Bank (IBCP) Beats Q1 Earnings and Revenue Estimates
Independent Bank (IBCP) delivered earnings and revenue surprises of 68% and 13.42%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?
Source: https://incomestatements.info
Category: Stock Reports