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Financials · IBCP

Independent Bank Corporation (IBCP) financials

For the twelve months ended Sep 30, 2026, Independent Bank Corporation reported $260.63M of revenue and $72.10M of net income.

Revenue, TTM
$260.63M
Revenue growth, YoY
+11.2%
Net income, TTM
$72.10M
Net income growth, YoY
+5.4%
Net margin
27.7%
Free cash flow, TTM
$43.67M
EPS, diluted, TTM
$3.40
EPS growth, YoY
+4.3%
Cash
$181.81M
P/E
11.33
P/S
3.13
Market cap
$816.7M
Annual revenue$225.66M
FY2016FY2025
Annual net income$68.54M
FY2016FY2025
Annual free cash flow$70.17M
FY2016FY2025

IBCP revenue and earnings growth

IBCP revenueQ3 2026$71.06M

Quarter YoY
+24.0%
QoQ
+12.4%
FY YoY
+1.4%
5Y CAGR
+2.0%
10Y CAGR
+7.0%

IBCP revenue was $71.06M in fiscal Q3 2026 (ended Sep 30, 2026), up 24.0% from a year earlier and up 12.4% from the prior quarter. For the full fiscal 2025 it was $225.66M, up 1.4% from fiscal 2024. Compound annual growth was +2.0% over 5 years and +7.0% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

IBCP net incomeQ3 2026$17.85M

Quarter YoY
+2.0%
QoQ
-5.1%
FY YoY
+2.6%
5Y CAGR
+4.1%
10Y CAGR
+13.1%

IBCP net income was $17.85M in fiscal Q3 2026 (ended Sep 30, 2026), up 2.0% from a year earlier and down 5.1% from the prior quarter. For the full fiscal 2025 it was $68.54M, up 2.6% from fiscal 2024. Compound annual growth was +4.1% over 5 years and +13.1% over 10 years. It rose in 8 of the last 10 fiscal years.

IBCP EPSQ3 2026$0.80

Quarter YoY
-4.8%
QoQ
-11.1%
FY YoY
+3.5%
5Y CAGR
+5.3%
10Y CAGR
+14.3%

IBCP diluted EPS was $0.80 in fiscal Q3 2026 (ended Sep 30, 2026), down 4.8% from a year earlier and down 11.1% from the prior quarter. For the full fiscal 2025 it was $3.27, up 3.5% from fiscal 2024. Compound annual growth was +5.3% over 5 years and +14.3% over 10 years.

IBCP free cash flowQ3 2026$22.13M

Quarter YoY
+33.7%
QoQ
+32.3%
FY YoY
+27.1%
5Y CAGR
+5.3%
10Y CAGR
+14.3%

IBCP free cash flow was $22.13M in fiscal Q3 2026 (ended Sep 30, 2026), up 33.7% from a year earlier and up 32.3% from the prior quarter. For the full fiscal 2025 it was $70.17M, up 27.1% from fiscal 2024. Compound annual growth was +5.3% over 5 years and +14.3% over 10 years. It rose in 6 of the last 10 fiscal years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$225.66M$222.61M$207.00M$211.47M$206.41M$204.36M$170.32M$158.10M$131.72M$121.94M
Interest expense--$83.35M$19.45M$8.31M$16.22M$26.35M$17.49M$9.12M$6.88M
Pre-tax income$81.29M$83.05M$73.68M$77.79M$77.31M$69.48M$57.76M$49.13M$38.44M$32.90M
Income tax$12.75M$16.26M$14.61M$14.44M$14.42M$13.33M$11.32M$9.29M$17.96M$10.13M
Net income$68.54M$66.79M$59.07M$63.35M$62.90M$56.15M$46.44M$39.84M$20.48M$22.77M
EPS, basic$3.30$3.20$2.82$3.00$2.91$2.56$2.03$1.70$0.96$1.06
EPS, diluted$3.27$3.16$2.79$2.97$2.88$2.53$2.00$1.68$0.95$1.05

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$138.39M$119.88M$169.78M$74.37M$109.47M$118.70M$65.30M$70.24M$54.74M$83.19M
Goodwill$28.30M$28.30M$28.30M$28.30M$28.30M$28.30M$28.30M$28.30M$0-
Total assets$5.51B$5.34B$5.26B$5.00B$4.70B$4.20B$3.56B$3.35B$2.79B$2.55B
Total liabilities$5.00B$4.88B$4.86B$4.65B$4.31B$3.81B$3.21B$3.01B$2.52B$2.30B
Shareholders' equity$502.95M$454.69M$404.45M$347.60M$398.48M$389.52M$350.17M$338.99M$264.93M$249.33M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$76.66M$63.15M$75.59M$94.63M$110.15M$58.68M$34.49M$44.92M$38.61M$23.70M
Capital expenditures$6.49M$7.95M$6.02M$5.68M$5.84M$4.38M$4.94M$3.86M$4.24M$3.46M
Free cash flow$70.17M$55.20M$69.56M$88.95M$104.32M$54.30M$29.56M$41.06M$34.37M$20.25M
Investing cash flow-$122.50M-$118.16M-$162.94M-$424.59M-$563.06M-$553.91M-$182.15M-$183.37M-$277.58M-$138.85M
Financing cash flow$64.34M$5.11M$182.77M$294.86M$443.68M$548.63M$142.72M$153.95M$210.51M$112.56M
Dividends paid$21.60M$20.05M$19.33M$18.57M$18.16M$17.62M$16.55M$14.05M$8.96M$7.27M
Share repurchases$12.43M$0$5.16M$4.01M$17.27M$14.23M$26.28M$12.68M$0$16.85M
Stock-based compensation$2.72M$2.33M$2.23M$2.14M$1.95M$1.98M$1.85M$1.73M$1.75M$1.62M
Depreciation and amortization$9.91M$10.01M$10.02M$10.83M$12.13M$9.16M$6.06M$6.03M$6.96M$5.22M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY1.4%7.5%-2.1%2.5%1.0%20.0%7.7%20.0%8.0%5.9%
Net income growth, YoY2.6%13.1%-6.8%0.7%12.0%20.9%16.6%94.6%-10.1%13.7%
EPS growth, YoY3.5%13.3%-6.1%3.1%13.8%26.5%19.0%76.8%-9.5%22.1%
Net margin30.4%30.0%28.5%30.0%30.5%27.5%27.3%25.2%15.5%18.7%
Free cash flow margin31.1%24.8%33.6%42.1%50.5%26.6%17.4%26.0%26.1%16.6%
Return on equity13.6%14.7%14.6%18.2%15.8%14.4%13.3%11.8%7.7%9.1%
Return on assets1.2%1.3%1.1%1.3%1.3%1.3%1.3%1.2%0.7%0.9%

Source: XBRL data Independent Bank Corporation files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

IBCP peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
IBCP$260.63M+11.2%$72.10M27.7%$816.7M
JPM$203.15B+13.2%$65.98B32.5%$908.43B
BAC$120.16B+5.4%$32.24B26.8%$348.81B
WFC$87.23B+5.4%$22.97B26.3%$256.63B
C$85.22B+5.6%$14.31B16.8%$201.89B
UBS$49.57B+2.0%$7.80B15.7%$151.93B
MFG¥8.79T+7.6%¥1.16T13.2%$122.19B
COF$63.01B+31.2%$10.87B17.2%$119.45B
BNSC$37.74B+12.1%C$7.79B20.6%$114.51B

IBCP FAQ

8 questions
  • What is IBCP revenue?
    Independent Bank Corporation (IBCP) reported $260.63M of revenue for the twelve months ended Sep 30, 2026. That is up 11.2% from the year before. Revenue for fiscal 2025 was $225.66M.
  • Is IBCP profitable?
    Yes. Independent Bank Corporation earned $72.10M in net income for the twelve months ended Sep 30, 2026, a net margin of 27.7%.
  • How much cash and debt does IBCP have?
    Independent Bank Corporation reported $181.81M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is IBCP revenue growing?
    Independent Bank Corporation's revenue changed +1.4% in fiscal 2025, to $225.66M. Its compound annual growth rate was +2.0% over 5 years and +7.0% over 10 years.
  • What is IBCP free cash flow?
    Independent Bank Corporation generated $43.67M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $56.31M less capital expenditures.
  • What is IBCP earnings per share?
    Diluted earnings per share were $3.40 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did IBCP last report financial results?
    The latest statements here come from Independent Bank Corporation's 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.
  • Where does this IBCP financial data come from?
    Quantisnow builds these statements from the structured XBRL data Independent Bank Corporation files with the SEC. It is provided for information only and is not investment advice.