Overview
TCSB BANC
Independent Bank Corporation is the holding company for Independent Bank, which serves rural and suburban communities of Michigan's Lower Peninsula from more than 100 branches. The bank offers traditional deposit products, including checking and savings accounts and CDs. Loans to businesses account for about 40% of the bank's portfolio; real estate mortgages are more than a third. Independent Bank also offers additional products and services like
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Read More title insurance through subsidiary Independent Title Services, and investments through agreement with third-party provider PrimeVest.
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Read More title insurance through subsidiary Independent Title Services, and investments through agreement with third-party provider PrimeVest.
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William B Kessel
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Depository Credit Intermediation
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Credit Intermediation and Related Activities
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Finance and Insurance
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State trust companies accepting deposits, commercial
Activities Related to Credit Intermediation
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Agencies, Brokerages, and Other Insurance Related Activities
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Insurance Carriers
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Insurance and Employee Benefit Funds
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Monetary Authorities-Central Bank
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Nondepository Credit Intermediation
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Other Financial Investment Activities
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Other Investment Pools and Funds
View more , Securities and Commodity Contracts Intermediation and Brokerage Securities and Commodity Exchanges
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View more , Securities and Commodity Contracts Intermediation and Brokerage Securities and Commodity Exchanges
View fewer
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Modelled
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Actual
$323.14 million
Actual
7.64%
13.08%
$5,338
DEC
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NASDAQ:IBCP
Contacts
Get in Touch with 9 Principals* and 314 Contacts
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William B KesselPresident and Chief Executive Officer
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Contact 2?
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Contact 3?
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Contact 4?
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Financial Statements
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Financial data as of December 31, 2024 (12 month period) in USD
Annual Revenue 2024
$323.14 million
USD
Actual
All financial statement data is in millions except per share data | Source: Morningstar
| Cash Flow (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Net Operating Cash | $63 | $76 | $95 |
| Net Investing Cash | -$118 | -$163 | -$425 |
| Net Financing Cash | $5 | $183 | $295 |
| Net Change in Cash | -$50 | $95 | -$35 |
| Cash at Beginning of Period | $170 | $74 | $109 |
| Cash at End of Period | $120 | $170 | $74 |
| Capital Expenditure | -$8 | -$6 | -$6 |
| Assets (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Current Assets | |||
| Cash and Cash Equivalents | $120 | $170 | $74 |
| Accounts Receivable | $ | $ | $ |
| Inventories | $ | $ | $ |
| Other Current Assets | $ | $ | $ |
| Asset Summary | |||
| Total Current Assets | $ | $ | $ |
| Tangible Fixed Assets | $37 | $36 | $36 |
| Intangible Assets | $48 | $44 | $45 |
| Total Assets | $5,338 | $5,264 | $5,000 |
| Liabilities (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Current Liabilities | |||
| Accounts Payable | $ | $ | $ |
| Short-Term Debt | $ | $ | $ |
| Other Current Liabilities | $ | $ | $ |
| Liability Summary | |||
| Total Current Liabilities | $ | $ | $ |
| Long-Term Debt | $124 | $129 | $165 |
| Other Long-Term Liabilities | $ | $ | $ |
| Total Liabilities | $4,883 | $4,859 | $4,652 |
| Stakeholder's Equity (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Equity | |||
| Common Stock | $319 | $317 | $321 |
| Retained Earnings | $206 | $159 | $119 |
| Equity Summary | |||
| Total Equity | $455 | $404 | $348 |
| Shares Outstanding | 20,895,714 | 20,835,633 | 21,063,971 |