Independent Bank Corporation (IBCP)

From the record

Independent Bank Corporation's filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

From the record

Independent Bank Corporation's 10 filed years say what it did: revenue went from $87 million in fiscal 2016 to $270 million in fiscal 2025, up 13.5% a year; it rose in 7 of 9 years; the deepest fall was 7% from fiscal 2019 to fiscal 2021; net income was positive in 10 of 10 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, Independent Bank Corporation's diluted share count shrank about 0.5% a year, and dividends and buybacks returned about 36% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 19 sales and 3 purchases of their own stock on the open market in the year to 2026-10-02, buying about $58 thousand (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Independent Bank Corporation earned about 14 cents of profit for every dollar of shareholders' money. Leverage: it owed about 91 cents per dollar of assets, and net share issuance: its share count shrank 0.6% over the year (the filed statements).

From the record

Independent Bank Corporation's standing among 155 graded names in its industry family: revenue of $270 million in fiscal 2025 ranks in the bottom 44% by size; a net margin of 25.4% ranks in the top 31%; revenue growth of 16.9% a year over the last 3 filed years ranks in the bottom 47% (its annual reports).

From the record

Independent Bank Corporation's leadership, from its insiders' filings and its current reports: the chief executive on the record is Kessel, William B (President & CEO, as filed), filing under that title since 2013-01-11, 13.8 years (top 18% of its family); the 19 officers and directors filing in the last fifteen months have been on the record a median of 8.9 years (top 26%); 3 officer or director changes were reported on Form 8-K since 2023-11-13, against the 19 people in charge now (top 22%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Independent Bank Corporation's room to grow, from the newest filed statements (fiscal 2025): cash of $138 million against no long-term debt tagged leaves 2.5% of its assets as net cash, bottom 44% of its family; cash from operations less capital spending is 26% of revenue (top 40%) (its annual report).

From the record

Independent Bank Corporation's growth drivers, from the filed years to fiscal 2025: revenue grew 16.9% a year over the last three filed years against 13.5% over all 10, speeding up (bottom 45% of its family); the newest year grew 1.1% (bottom 27%); capital spending grew 4.6% a year (bottom 49%) (its annual reports). Independent Bank Corporation tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

From the record

Independent Bank Corporation's newest year against its own record: revenue of $270 million in fiscal 2025 came in 19.5% below the $335 million its prior three years' pace pointed to (bottom 30% of its family); net income of $69 million against a prior three-year average of $63 million (bottom 42%); a net margin of 25.4% against 29.1% before (bottom 45%) (its annual reports).