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 | |
Founded | 1864 | |
HQ | Grand Rapids, MI, US | Map |
Website | independentbank.com | |
Employee Ratings | More | |
Overall Culture | B | More |
USD | |
---|---|
Revenue (Q3, 2020) | 6.6m |
Net income (Q3, 2020) | 19.6m |
Market capitalization (21-Jan-2021) | 435.1m |
Closing stock price (21-Jan-2021) | 19.9 |
Cash (30-Sept-2020) | 46.6m |
EV | 395.5m |
USD | Q2, 2011 | Q3, 2011 | Q1, 2012 | Q2, 2012 | Q3, 2012 | Q1, 2013 | Q2, 2013 | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 12.5m | 9.3m | 14.6m | 13.0m | 14.5m | 11.1m | 13.0m | 9.8m | 9.0m | 10.1m | 10.5m | 9.0m | 11.0m | 10.1m | 7.8m | 9.6m | 11.7m | 10.3m | 10.4m | 10.3m | 6.3m | 6.8m | 6.9m | 6.0m | 6.5m | 6.8m | 6.2m | 5.1m | 6.6m |
Sales and marketing expense | 670.0k | 740.0k | 556.0k | 639.0k | 647.0k | 570.0k | 659.0k | 652.0k | 519.0k | 601.0k | 427.0k | 484.0k | 448.0k | 406.0k | 477.0k | 478.0k | 455.0k | 506.0k | 519.0k | 526.0k | 441.0k | 543.0k | 594.0k | 672.0k | 627.0k | 636.0k | 683.0k | 364.0k | 589.0k |
Operating expense total | 3.0m | 3.2m | 1.2m | 2.7m | 2.6m | 2.3m | 2.3m | 2.4m | 2.3m | 2.1m | 2.1m | 2.0m | 1.9m | 2.0m | 1.9m | 1.9m | 2.0m | 2.2m | 2.2m | 2.0m | 1.7m | 2.5m | 2.4m | 3.1m | 2.5m | 2.8m | 3.1m | 3.0m | 2.9m |
Interest expense | 5.7m | 4.4m | 3.6m | 3.4m | 3.3m | 2.4m | 2.3m | 2.3m | 1.8m | 1.8m | 1.9m | 1.5m | 1.4m | 1.5m | 1.6m | 1.6m | 1.7m | 1.9m | 2.0m | 2.5m | 2.9m | 4.1m | 4.8m | 6.4m | 6.8m | 6.9m | 5.4m | 3.3m | 3.1m |
USD | Q2, 2011 | Q3, 2011 | Q1, 2012 | Q2, 2012 | Q3, 2012 | Q1, 2013 | Q2, 2013 | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash | 320.8m | 355.8m | 352.8m | 419.8m | 460.5m | 221.6m | 140.4m | 130.9m | 131.9m | 105.5m | 65.5m | 101.6m | 58.3m | 105.2m | 144.7m | 61.0m | 114.3m | 69.8m | 59.8m | 47.6m | 42.4m | 58.7m | 53.2m | 71.6m | 55.1m | 82.4m | 70.3m | 55.8m | 46.6m |
Accounts Receivable | 1.6b | 1.6b | 1.5b | 1.4b | 1.4b | 1.4b | 1.3b | 1.3b | 1.3b | 1.3b | 1.4b | 1.4b | 1.4b | 1.4b | 1.5b | 1.6b | 1.6b | 1.7b | 1.8b | 1.9b | 2.0b | 2.4b | 2.5b | 2.6b | 2.7b | 2.7b | 2.7b | 2.8b | 2.8b |
PP&E | 65.6m | 64.1m | 63.4m | 50.8m | 47.1m | 47.4m | 47.5m | 47.9m | 47.9m | 46.8m | 46.2m | 45.2m | 44.2m | 43.4m | 42.1m | 41.0m | 40.4m | 39.5m | 39.4m | 38.8m | 38.8m | 39.7m | 39.0m | 38.0m | 37.7m | 37.4m | 37.8m | 37.0m | 36.5m |
Goodwill | 29.0m | 28.3m | 28.3m | 28.3m | 28.3m | 28.3m | 28.3m | 28.3m |
USD | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|---|---|---|---|---|
Net Income | (20.2m) | 26.2m | 77.5m | 18.0m | 20.0m | 22.8m | 20.5m | 39.8m | 46.4m |
Depreciation and Amortization | (11.3m) | 7.6m | (2.2m) | 3.0m | 4.6m | 5.2m | 7.0m | 7.0m | 6.1m |
Cash From Operating Activities | 35.4m | 29.4m | 52.1m | 13.1m | 24.0m | 24.0m | 38.6m | 44.9m | 34.0m |
Purchases of PP&E | (2.6m) | (5.3m) | (8.4m) | (4.3m) | (4.4m) | (3.5m) | (4.2m) | (3.9m) | (4.9m) |
USD | Q2, 2011 | Q3, 2011 | Q1, 2012 | Q2, 2012 | Q3, 2012 | Q1, 2013 | Q2, 2013 | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Income | (7.4m) | (11.5m) | 3.5m | 7.8m | 14.3m | 5.8m | 69.2m | 72.7m | 3.1m | 9.2m | 14.1m | 3.8m | 9.4m | 14.4m | 4.1m | 10.5m | 16.9m | 6.0m | 11.9m | 18.8m | 9.2m | 18.0m | 29.9m | 9.4m | 20.1m | 32.6m | 4.8m | 19.6m | 39.2m |
Depreciation and Amortization | 6.4m | (9.3m) | (1.3m) | (2.4m) | (3.5m) | (1.0m) | (1.7m) | (2.2m) | 373.0k | 1.0m | 1.9m | 1.2m | 2.2m | 3.3m | 1.3m | 2.5m | 3.8m | 1.3m | 3.1m | 5.1m | 1.8m | 3.2m | 4.6m | 1.5m | 2.9m | 4.4m | 1.8m | 4.1m | 6.0m |
Cash From Operating Activities | 37.7m | 38.7m | 13.3m | 22.4m | 10.9m | 18.5m | 36.4m | 41.4m | 7.4m | 8.2m | 6.3m | (2.3m) | 7.8m | 19.6m | 5.0m | 14.5m | 13.1m | 3.2m | 13.0m | 6.2m | 6.9m | 13.3m | 20.6m | 10.1m | 13.9m | 6.1m | 22.3m | 44.0m | 38.2m |
Purchases of PP&E | (1.6m) | (2.1m) | (2.8m) | (3.3m) | (3.8m) | (2.1m) | (3.9m) | (6.0m) | (964.0k) | (1.6m) | (2.7m) | (975.0k) | (1.9m) | (2.9m) | (611.0k) | (990.0k) | (1.7m) | (680.0k) | (1.9m) | (2.6m) | (921.0k) | (2.0m) | (2.8m) | (511.0k) | (1.5m) | (2.6m) | (760.0k) | (1.7m) | (2.6m) |
USD | Q2, 2011 |
---|---|
Financial Leverage | 20.3 x |
FY, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | FY, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | FY, 2016 | Q1, 2017 | Q2, 2017 | |
---|---|---|---|---|---|---|---|---|---|---|---|
Bank Branches | 70 | 62 | 62 | ||||||||
Non-accrual Loans | $15.23 m | $14.59 m | $12.27 m | $15.83 m | $10.61 m | $10.43 m | $10.80 m | $10.08 m | $13.36 m | $9.01 m | $8.54 m |
Non-performing Loans | $15.24 m | $14.79 m | $12.34 m | $15.83 m | $10.72 m | $10.57 m | $10.90 m | $10.08 m | $13.36 m | $9.01 m | $8.54 m |
Total Loans | $1.41 b | $1.42 b | $1.45 b | $1.47 b | $1.52 b | $1.54 b | $1.58 b | $1.61 b | $1.61 b | $1.67 b | $1.81 b |
Independent Bank Corp has 980 Twitter Followers. The number of followers has decreased 0.7% month over month and decreased 1.1% quarter over quarter
B
78/100
B
74/100
A-
81/100
When was Independent Bank Corp founded?
Independent Bank Corp was founded in 1864.
Who are Independent Bank Corp key executives?
Independent Bank Corp's key executives are William B. Kessel, Stefanie M. Kimball and Robert N. Shuster.
How many employees does Independent Bank Corp have?
Independent Bank Corp has 848 employees.
What is Independent Bank Corp revenue?
Latest Independent Bank Corp annual revenue is $26 m.
What is Independent Bank Corp revenue per employee?
Latest Independent Bank Corp revenue per employee is $30.6 k.
Who are Independent Bank Corp competitors?
Competitors of Independent Bank Corp include Plumas, BancFirst and Univest Corporation of Pennsylvania.
Where is Independent Bank Corp headquarters?
Independent Bank Corp headquarters is located at 4200 E Beltline Ave NE, Grand Rapids.
Where are Independent Bank Corp offices?
Independent Bank Corp has offices in Grand Rapids and Brighton.
How many offices does Independent Bank Corp have?
Independent Bank Corp has 2 offices.
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