Independent Bank Corporation operates as the bank holding company for Independent Bank that provides various banking services to individuals and businesses. The Company offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services, as well as automatic teller machines, and Internet and mobile banking services. It also provides title insurance, and investment and insurance services. In addition, the Company acquires and services payment plans used by consumers to purchase vehicle service contracts provided and administered by third parties.

Type
Public
HQ
Grand Rapids, US
Founded
1864
Size (employees)
1,103 (est)+50%
Independent Bank Corp was founded in 1864 and is headquartered in Grand Rapids, US
Report incorrect company information

Independent Bank Corp Office Locations

Independent Bank Corp has offices in Grand Rapids, West Bloomfield Township, Standish, Shelby charter Township and in 58 other locations
Grand Rapids, US (HQ)
4200 East Beltline
Ann Arbor, US
260 3025 Boardwalk Dr
Auburn, US
1004 W Midland Rd
Bad Axe, US
655 N Port Crescent St
Bay City, US
623 Washington Ave
Bay City, US
745 N Euclid Ave
Show all (78)
Report incorrect company information

Independent Bank Corp Financials and Metrics

Independent Bank Corp Financials

Independent Bank Corp's revenue was reported to be $128.82 m in FY, 2016 which is a 6.5% increase from the previous period.
USD

Revenue (Q1, 2018)

38.5 m

Gross profit (Q1, 2018)

35.6 m

Gross profit margin (Q1, 2018), %

92.6%

Net income (Q1, 2018)

9.2 m

EBIT (Q1, 2018)

23.6 m

Market capitalization (22-Jun-2018)

634 m

Closing share price (22-Jun-2018)

26.3

Cash (31-Mar-2018)

42.4 m

EV

627.2 m
Independent Bank Corp's current market capitalization is $634 m.
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

119.3 m121 m128.8 m

Revenue growth, %

(42%)1%6%

Cost of goods sold

6.9 m9.1 m

Gross profit

121.9 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Revenue

79.3 m79.5 m78.9 m82.3 m82.7 m83.3 m89.5 m38.5 m

Cost of goods sold

5.3 m5.2 m4.9 m4.6 m4.6 m4.2 m4.4 m2.9 m

Gross profit

74 m74.3 m74 m77.6 m78.1 m79.1 m85.2 m35.6 m

Gross profit Margin, %

93%93%94%94%94%95%95%93%
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

168.1 m143.3 m84.8 m83.2 m54.7 m

Accounts Receivable

Inventories

PP&E

43.1 m40.2 m39.1 m
Quarterly
USDQ2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Cash

100.1 m160.7 m83.3 m102.4 m92.2 m94.7 m110.2 m42.4 m

PP&E

38.8 m

Goodwill

201.1 m201.1 m201.1 m201.1 m201.1 m221.5 m231.8 m

Total Assets

7.2 b7.1 b7.2 b7.4 b7.5 b7.7 b8 b2.8 b
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

50.3 m59.8 m65 m22.8 m20.5 m

Depreciation and Amortization

8.5 m11 m12.3 m14.4 m

Inventories

Accounts Payable

838 k5.4 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Net Income

39.7 m13.4 m28.1 m43.9 m9.5 m26.9 m45.5 m18.6 m39 m59.5 m20.7 m41.3 m9.2 m

Depreciation and Amortization

6.3 m2.7 m5.7 m8.5 m3.1 m6.4 m9.3 m2.9 m7.2 m10.7 m3.6 m7.5 m

Accounts Payable

2.6 m1.4 m

Cash From Operating Activities

115 m14.7 m30.6 m59.3 m7.4 m37.9 m62.1 m1.5 m14 m39.8 m37.4 m49.2 m6.9 m
USDY, 2018

EV/EBIT

26.6 x

EV/CFO

91.1 x

EV/FCF

105.1 x

Financial Leverage

10.4 x
Show all financial metrics

Independent Bank Corp Operating Metrics

Independent Bank Corp's Total Loans was reported to be $1.8b in Q2, 2017.
Show all operating metrics
Report incorrect company information

Independent Bank Corp Online and Social Media Presence

Embed Graph
Report incorrect company information