Independent Bank Corp /Mi/ financial data

Symbol
IBCP on Nasdaq
Industry
State Commercial Banks
Location
4200 E Beltline Ave, Grand Rapids, Michigan
State of incorporation
Michigan
Fiscal year end
December 31
Latest financial report
Q1 2024 - May 3, 2024

Key Ratios

Label TTM Value / Value Unit Change %
Debt-to-equity 1.23 K % -8.67%
Return On Equity 15.8 % -6.61%
Return On Assets 1.19 % +1.7%

Shares

Label TTM Value / Value Unit Change %
Entity Common Stock, Shares Outstanding 20.9 M shares -1.06%
Common Stock, Shares, Outstanding 20.9 M shares -1.11%
Entity Public Float 347 M USD -12.7%
Common Stock, Value, Issued 317 M USD -1.22%
Weighted Average Number of Shares Outstanding, Basic 20.9 M shares -1.08%

Income Statement

Label TTM Value / Value Unit Change %
Revenue from Contract with Customer, Excluding Assessed Tax 32.9 M USD +3.47%
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 77.6 M USD +8.42%
Income Tax Expense (Benefit) 15.6 M USD +17.7%
Net Income (Loss) Attributable to Parent 62.1 M USD +6.33%
Earnings Per Share, Basic 2.97 USD/shares +7.22%
Earnings Per Share, Diluted 2.94 USD/shares +7.3%

Balance Sheet

Label TTM Value / Value Unit Change %
Cash and Cash Equivalents, at Carrying Value 162 M USD -28.7%
Property, Plant and Equipment, Net 34.6 M USD -3.29%
Operating Lease, Right-of-Use Asset 6.74 M USD +34.4%
Intangible Assets, Net (Excluding Goodwill) 1.88 M USD -22.4%
Goodwill 28.3 M USD 0%
Assets 5.23 B USD +1.8%
Liabilities 4.82 B USD +0.93%
Accumulated Other Comprehensive Income (Loss), Net of Tax -71.6 M USD +11.4%
Retained Earnings (Accumulated Deficit) 170 M USD +33.4%
Stockholders' Equity Attributable to Parent 416 M USD +13%
Liabilities and Equity 5.23 B USD +1.8%

Popular Metrics

Label TTM Value / Value Unit Change %
Net Cash Provided by (Used in) Operating Activities 20.8 M USD -10.9%
Net Cash Provided by (Used in) Financing Activities -46.5 M USD -137%
Net Cash Provided by (Used in) Investing Activities 17.7 M USD +257%
Common Stock, Shares Authorized 500 M shares 0%
Common Stock, Shares, Issued 20.9 M shares -1.11%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 162 M USD -28.7%
Interest Paid, Excluding Capitalized Interest, Operating Activities 25 M USD +82.2%
Deferred Tax Assets, Gross 36.7 M USD -14.2%
Operating Lease, Liability 6.95 M USD +33.1%
Depreciation 5.2 M USD -1.89%
Payments to Acquire Property, Plant, and Equipment 676 K USD -49%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent 71.2 M USD +123%
Lessee, Operating Lease, Liability, to be Paid 8.13 M USD +45.9%
Property, Plant and Equipment, Gross 156 M USD +1.52%
Lessee, Operating Lease, Liability, to be Paid, Year Two 1.12 M USD +19.4%
Lessee, Operating Lease, Liability, to be Paid, Year One 1.29 M USD +29.3%
Operating Lease, Weighted Average Discount Rate, Percent 0.04 pure +41.7%
Deferred Income Tax Expense (Benefit) 215 K USD
Lessee, Operating Lease, Liability, Undiscounted Excess Amount 1.17 M USD +241%
Lessee, Operating Lease, Liability, to be Paid, Year Three 939 K USD +21.8%
Preferred Stock, Shares Issued 0 shares
Current Income Tax Expense (Benefit) 14.4 M USD -2.72%
Preferred Stock, Shares Authorized 200 K shares 0%
Unrecognized Tax Benefits 200 K USD 0%
Lessee, Operating Lease, Liability, to be Paid, Year Four 916 K USD +51.2%
Preferred Stock, Shares Outstanding 0 shares
Amortization of Intangible Assets 500 K USD -37.5%
Interest Expense 92.8 M USD +179%