INDEPENDENT BANK CORPORATION financials
Source: EDGAR filings · Built 2026-06-02T03:17:00Z
Custom taxonomy namespace:
ffd
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 70.17M | 55.20M | 69.56M | 88.95M | 104.32M | 54.30M |
| Net Debt | -53.86M | -68.53M | -114.64M | 17.40M | -72.86M | -80.83M |
| Net Margin | 213.69% | 208.86% | 179.52% | 200.21% | 216.15% | 233.71% |
| Return on Equity (ROE) | 13.63% | 14.69% | 14.60% | 18.23% | 15.78% | 14.42% |
| Return on Assets (ROA) | 1.24% | 1.25% | 1.12% | 1.27% | 1.34% | 1.34% |
| Debt-to-Equity | 0.17× | 0.11× | 0.14× | 0.26× | 0.09× | 0.10× |
| Effective Tax Rate | 15.68% | 19.57% | 19.83% | 18.56% | 18.65% | 19.18% |
| Cash Conversion Ratio | 1.12× | 0.95× | 1.28× | 1.49× | 1.75× | 1.05× |
| Accruals Ratio | -0.00× | 0.00× | -0.00× | -0.01× | -0.01× | -0.00× |
| SBC % of Revenue | 8.47% | 7.29% | 6.77% | 6.77% | 6.69% | 8.24% |
| CapEx Coverage | 11.81× | 7.94× | 12.55× | 16.66× | 18.87× | 13.39× |
| Free Cash Flow Per Share | $3.35 | $2.61 | $3.29 | $4.17 | $4.78 | $2.45 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 9.95× | 11.02× | 9.33× | 8.05× | 8.29× | 7.30× |
| P/FCF | 9.72× | 13.34× | 7.92× | 5.74× | 5.00× | 7.55× |
| FCF Yield | 10.29% | 7.50% | 12.63% | 17.43% | 20.01% | 13.25% |
| P/S | 20.84× | 22.76× | 16.48× | 15.92× | 17.37× | 16.80× |
| P/B | 1.33× | 1.60× | 1.34× | 1.45× | 1.27× | 1.04× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 32.08M | 31.98M | 32.90M | 31.64M | 29.10M | 24.03M |
| Income Tax Expense (Benefit) | 12.75M | 16.26M | 14.61M | 14.44M | 14.42M | 13.33M |
| Net Income (Loss) Attributable to Parent | 68.54M | 66.79M | 59.07M | 63.35M | 62.90M | 56.15M |
| Earnings Per Share, Basic | $3.30 | $3.20 | $2.82 | $3.00 | $2.91 | $2.56 |
| Weighted Average Number of Shares Outstanding, Basic | 20.76M | 20.89M | 20.98M | 21.10M | 21.59M | 21.98M |
| Earnings Per Share, Diluted | $3.27 | $3.16 | $2.79 | $2.97 | $2.88 | $2.53 |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 138.39M | 119.88M | 169.78M | 74.37M | 109.47M | 118.70M |
| Assets | 5.51B | 5.34B | 5.26B | 5.00B | 4.70B | 4.20B |
| Liabilities | 5.00B | 4.88B | 4.86B | 4.65B | 4.31B | 3.81B |
| Stockholders' Equity Attributable to Parent | 502.95M | 454.69M | 404.45M | 347.60M | 398.48M | 389.52M |
| Common Stock, Shares, Outstanding | 20.55M | 20.90M | 20.84M | 21.06M | 21.17M | 21.85M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 76.66M | 63.15M | 75.59M | 94.63M | 110.15M | 58.68M |
| Payments to Acquire Property, Plant, and Equipment | 6.49M | 7.95M | 6.02M | 5.68M | 5.84M | 4.38M |
| Net Cash Provided by (Used in) Investing Activities | -122.50M | -118.16M | -162.94M | -424.59M | -563.06M | -553.91M |
| Payments for Repurchase of Common Stock | 12.43M | 0 | 5.16M | 4.01M | 17.27M | 14.23M |
| Payments of Dividends | 21.60M | 20.05M | 19.33M | 18.57M | 18.16M | 17.62M |
| Net Cash Provided by (Used in) Financing Activities | 64.34M | 5.11M | 182.77M | 294.86M | 443.68M | 548.63M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -13.77M | 6.36M | 63.81M | 47.27M | 18.13M | 12.36M |
| Net Debt | -140.69M | -53.86M | -199.96M | -37.15M | -76.77M | -68.53M |
| Net Margin | 222.39% | 234.08% | 196.21% | 214.23% | 212.34% | 240.63% |
| Return on Equity (ROE) | 3.31% | 3.69% | 3.57% | 3.60% | 3.34% | 4.06% |
| Return on Assets (ROA) | 0.30% | 0.34% | 0.32% | 0.31% | 0.29% | 0.35% |
| Debt-to-Equity | 0.07× | 0.17× | 0.02× | 0.23× | 0.11× | 0.11× |
| Effective Tax Rate | 16.58% | 8.56% | 17.35% | 18.38% | 18.49% | 18.92% |
| Cash Conversion Ratio | -0.54× | 0.42× | 3.93× | 3.00× | 1.23× | 0.89× |
| Accruals Ratio | 0.00× | 0.00× | -0.01× | -0.01× | -0.00× | 0.00× |
| SBC % of Revenue | 9.07% | 9.43% | 22.06% | 17.73% | 10.32% | 7.66% |
| CapEx Coverage | -1.99× | 5.42× | 13.62× | 14.90× | 17.16× | 4.08× |
| Free Cash Flow Per Share | $-0.66 | $0.30 | $3.06 | $2.27 | $0.86 | $0.58 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 9.94× | 9.92× | 9.50× | 10.56× | 9.81× | 11.02× |
| P/S | 21.21× | 20.84× | 20.15× | 21.16× | 20.34× | 22.76× |
| P/B | 1.34× | 1.33× | 1.31× | 1.43× | 1.38× | 1.60× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 7.59M | 7.93M | 8.92M | 7.88M | 7.34M | 7.67M |
| Income Tax Expense (Benefit) | 3.35M | 1.74M | 3.67M | 3.80M | 3.54M | 4.31M |
| Net Income (Loss) Attributable to Parent | 16.88M | 18.57M | 17.50M | 16.88M | 15.59M | 18.46M |
| Earnings Per Share, Basic | $0.82 | $0.90 | $0.85 | $0.81 | $0.74 | $0.88 |
| Weighted Average Number of Shares Outstanding, Basic | 20.57M | 20.76M | 20.70M | 20.75M | 20.94M | 20.89M |
| Earnings Per Share, Diluted | $0.81 | $0.89 | $0.84 | $0.81 | $0.74 | $0.87 |
| Weighted Average Number of Shares Outstanding, Diluted | 20.78M | — | — | — | 21.15M | — |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 174.91M | 138.39M | 208.69M | 146.16M | 128.15M | 119.88M |
| Assets | 5.56B | 5.51B | 5.49B | 5.42B | 5.33B | 5.34B |
| Liabilities | 5.05B | 5.00B | 5.00B | 4.95B | 4.86B | 4.88B |
| Stockholders' Equity Attributable to Parent | 510.55M | 502.95M | 490.74M | 469.25M | 467.28M | 454.69M |
| Common Stock, Shares, Outstanding | 20.59M | 20.55M | 20.69M | 20.72M | 20.97M | 20.90M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -9.16M | 7.79M | 68.87M | 50.67M | 19.25M | 16.37M |
| Payments to Acquire Property, Plant, and Equipment | 4.61M | 1.44M | 5.06M | 3.40M | 1.12M | 4.01M |
| Net Cash Provided by (Used in) Investing Activities | -16.70M | -45.56M | -76.93M | -67.30M | 15.78M | -85.23M |
| Payments for Repurchase of Common Stock | 0 | 4.66M | 7.77M | 7.36M | 33.00K | 0 |
| Payments of Dividends | 5.77M | 5.38M | 16.22M | 10.84M | 5.45M | 5.01M |
| Net Cash Provided by (Used in) Financing Activities | 62.38M | -32.53M | 96.87M | 42.91M | -26.77M | 67.18M |
Raw XBRL tagging for a single filing
Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.
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with a fallback chain). Non-USD rows, rows without a
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (IBCP CIK 0000039311),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.