Independent Bank Corp /Mi/
IBCP Nasdaq· State Commercial Banks
Last close · Oct 23, 2026
$36.98
KIRA · Stoqly’s AI analyst, in plain words
- Independent Bank Corp /Mi/ had $32.1M of revenue in fiscal 2025, up 0.3% on the year before. Over five years, revenue changed +5.9% a year on average.
- Independent Bank Corp /Mi/ made $68.5M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 13.5% a year.
- Independent Bank Corp /Mi/ returned $34.0M to shareholders in fiscal 2025, 49% of free cash flow.
- It earned 14.3% on shareholders’ money. Running costs took 431.0% of revenue (the efficiency ratio; lower is better).
Market cap
$769M
P/E
10.8x
Revenue
$32.1M
Net income
$68.5M
Return on equity
14.3%
Efficiency ratio
431.0%
Independent Bank Corp /Mi/ in 30 seconds · fiscal 2025
Are sales growing?
+0.3%
Only a little. Sales grew 0.3% last year.
Does it make a profit?
213.7%
Yes. It keeps 213.7% of every sale as profit.
How lean are its costs?
431.0%
Costly. Running costs take 431.0% of revenue.
How much does it earn on its capital?
14.3%
Good. It earns 14.3% a year on shareholders’ money.
How is the share priced?
10.8x
One share costs 10.8 times its yearly profit per share.
What Independent Bank Corp /Mi/ does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 6, 2026
- Legal name
- INDEPENDENT BANK CORP /MI/
- CIK
- 0000039311
Independent Bank Corp /Mi/ · IBCP
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $29.1M | $31.6M | $32.9M | $32.0M | $32.1M |
| Revenue growth | 21.1% | 8.7% | 4.0% | −2.8% | 0.3% |
| Net interest income | $130M | $150M | $156M | $166M | $180M |
| Net income | $62.9M | $63.4M | $59.1M | $66.8M | $68.5M |
| Net margin | 216.1% | 200.2% | 179.5% | 208.9% | 213.7% |
| Diluted EPS | $2.88 | $2.97 | $2.79 | $3.16 | $3.27 |
| Cash | |||||
| Cash from operations | $110M | $94.6M | $75.6M | $63.2M | $76.7M |
| Capital expenditure | $5.8M | $5.7M | $6.0M | $8.0M | $6.5M |
| Free cash flow | $104M | $89.0M | $69.6M | $55.2M | $70.2M |
| FCF margin | 358.5% | 281.1% | 211.4% | 172.6% | 218.8% |
| Dividends paid | $18.2M | $18.6M | $19.3M | $20.0M | $21.6M |
| Share buybacks | $17.3M | $4.0M | $5.2M | $0.0M | $12.4M |
| Debt and strength | |||||
| Cash and short-term investments | $109M | $74.4M | $170M | $120M | $138M |
| Loans, net | $2.9B | $3.4B | $3.7B | $4.0B | $4.2B |
| Deposits | $4.1B | $4.4B | $4.6B | $4.7B | $4.8B |
| Shareholders' equity | $398M | $348M | $404M | $455M | $503M |
| Returns and quality | |||||
| Return on equity | 16.0% | 17.0% | 15.7% | 15.5% | 14.3% |
| Return on tangible equity | 17.1% | 20.0% | 15.8% | 15.7% | 14.5% |
| Efficiency ratio | 450.3% | 405.6% | 386.3% | 422.5% | 431.0% |
Insiders bought, 12 months
$0.1M
2 insiders
Insiders sold, 12 months
$0.4M
5 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Net income:
- Profit after all expenses, interest and tax.
- Efficiency ratio:
- Noninterest expense as a share of revenue. Lower is better for banks.
- Return on equity:
- Net income as a share of average shareholders' equity.
- Return on tangible equity:
- Net income to common over equity minus goodwill and intangibles.
- Diluted EPS:
- Net income per diluted share.
Independent Bank Corp /Mi/ · IBCP
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Return on equity and efficiency ratio
Loans and deposits
Dividends and buybacks
Diluted EPS
KIRA
At $36.98 a share, the company is worth $769M: 10.8 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0000039311). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.