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 machine, and Internet and mobile banking services. It also provides title insurance, insurance brokerage, and investment services. The company offers its services through approximately 59 branches, two drive-thru facilities, and nine loan production offices in Michigan; and two loan production offices in Ohio. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.
IPO Year:
Exchange: NASDAQ
Website: independentbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/4/2024 | Market Perform | Hovde Group | |
| 12/13/2022 | $26.00 | Outperform → Mkt Perform | Keefe Bruyette |
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First Quarter Highlights Highlights for the first quarter of 2025 include: Increase in net interest income of $0.8 million (or 1.9% ) over the fourth quarter of 2024;Increase in tangible book value per share of $2.43 (13.2%) from March 31, 2024;Net growth in core deposits of $9.1 million (or 0.8% annualized) from December 31, 2024;Net growth in loans of $33.9 million (or 3.4% annualized) from December 31, 2024; andThe payment of a 26 cent per share dividend on common stock on February 14, 2025. GRAND RAPIDS, Mich., April 24, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP) reported first quarter 2025 net income of $15.6 million, or $0.74 per diluted share, versus net
GRAND RAPIDS, Mich., April 22, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock of 26 cents per share. This dividend is payable on May 15, 2025, to shareholders of record on May 5, 2025. About Independent Bank Corporation Independent Bank Corporation (NASDAQ:IBCP) is a Michigan-based bank holding company with total assets of approximately $5.3 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan's Lower Peninsula through on
GRAND RAPIDS, Mich., March 28, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that it expects to issue its 2025 first quarter results on Thursday, April 24, 2025, at approximately 8:00 am ET. The release will be available on the Internet at IndependentBank.com within the "News" section of the "Investor Relations" area of the Company's website. Brad Kessel, President and CEO, Gavin Mohr, CFO and Joel Rahn, EVP Commercial Banking will review the quarterly results in a conference call for investors and analysts beginning at 11:00 am ET on Thursday, April 24, 2025. To participate in the
Fourth Quarter Highlights Highlights for the fourth quarter of 2024 include: An increase in net interest income of $1.0 million (2.4%) over the third quarter of 2024;A net interest margin of 3.45% (eight basis point increase from the linked quarter)A return on average assets and a return on average equity of 1.39% and 16.31%, respectively;Net growth in loans of $96.5 million (or 9.7% annualized) from September 30, 2024; andThe payment of a 24 cent per share dividend on common stock on November 15, 2024. GRAND RAPIDS, Mich., Jan. 23, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP) reported fourth quarter 2024 net income of $18.5 million, or $0.87 per diluted share, ve
GRAND RAPIDS, Mich., Jan. 10, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock of 26 cents per share. This dividend is payable on February 14, 2025, to shareholders of record on February 4, 2025. The quarterly dividend represents an 8% increase over the quarterly dividend rate paid for each quarter in 2024. William B. ("Brad") Kessel, the President and Chief Executive Officer of Independent Bank Corporation, commented: "I am pleased that our Board of Directors has approved an increase of over 8%
GRAND RAPIDS, Mich., Jan. 02, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that Christopher Michaels has been appointed as the organization's new Chief Operating Officer, effective January 2, 2025. William B. (Brad) Kessel, the President and Chief Executive Officer of Independent Bank Corporation, commented: "Chris is a proven leader with a deep understanding of our business with a successful track record for driving transformation within our organization which makes him uniquely suited for this role. I am confident that this appointment will position us to better serve our customer
GRAND RAPIDS, Mich., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that it expects to issue its 2024 fourth quarter results on Thursday, January 23, 2025, at approximately 8:00 am ET. The release will be available on the Internet at IndependentBank.com within the "News" section of the "Investor Relations" area of the Company's website. Brad Kessel, President and CEO, Gavin Mohr, CFO and Joel Rahn, EVP Commercial Banking will review the quarterly results in a conference call for investors and analysts beginning at 11:00 am ET on Thursday, January 23, 2025. To participate in
GRAND RAPIDS, Mich., Dec. 20, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that it expects to issue its 2024 fourth quarter results on Thursday, January 23, 2025, at approximately 8:00 am ET. The release will be available on the Internet at IndependentBank.com within the "News" section of the "Investor Relations" area of the Company's website. Brad Kessel, President and CEO, Gavin Mohr, CFO and Joel Rahn, EVP Commercial Banking will review the quarterly results in a conference call for investors and analysts beginning at 11:00 am ET on Thursday, January 23, 2025. To participate
GRAND RAPIDS, Mich., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that its Board of Directors authorized a 2025 share repurchase plan on December 17, 2024. Under the terms of the 2025 share repurchase plan, the Company is authorized to buy back up to 1,100,000 shares, representing approximately 5% of its common stock. The 2025 share repurchase plan is authorized to last through December 31, 2025. The Company intends to accomplish 2025 share repurchases through open market transactions, though the Company could accomplish repurchases through other means, such as privately ne
Third Quarter Highlights Highlights for the third quarter of 2024 include: Increases in net interest income of $0.5 million (or 4.9% annualized) from June 30, 2024;An increase in tangible book value per share of $3.69 (22.3%) over the third quarter of 2023;Net growth in core deposits of $100.1 million (or 8.9% annualized) from June 30, 2024;Net growth in loans of $90.4 million (or 9.3% annualized) from June 30, 2024; andThe payment of a 24 cent per share dividend on common stock on August 15, 2024. GRAND RAPIDS, Mich., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP) reported third quarter 2024 net income of $13.8 million, or $0.65 per diluted share, versus n
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GRAND RAPIDS, Mich., Jan. 02, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that Christopher Michaels has been appointed as the organization's new Chief Operating Officer, effective January 2, 2025. William B. (Brad) Kessel, the President and Chief Executive Officer of Independent Bank Corporation, commented: "Chris is a proven leader with a deep understanding of our business with a successful track record for driving transformation within our organization which makes him uniquely suited for this role. I am confident that this appointment will position us to better serve our customer
GRAND RAPIDS, Mich., April 23, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that its Board of Directors appointed Stephen L. Gulis, Jr. as Chairperson to the Boards of the Corporation and the Bank. Mr. Gulis succeeds Mr. Michael M. Magee who served as Chairperson of the Corporation and the Bank since January 1, 2013. Mr. Gulis became a Director of the Boards of Independent Bank Corporation and Independent Bank in 2004. He retired in 2008 as the Executive Vice President and President of Wolverine Worldwide Global Operations Group. He served as Executive Vice President, CFO, and Treasu
Hovde Group resumed coverage of Independent Bank with a rating of Market Perform
Keefe Bruyette downgraded Independent Bank from Outperform to Mkt Perform and set a new price target of $26.00
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First Quarter Highlights Highlights for the first quarter of 2025 include: Increase in net interest income of $0.8 million (or 1.9% ) over the fourth quarter of 2024;Increase in tangible book value per share of $2.43 (13.2%) from March 31, 2024;Net growth in core deposits of $9.1 million (or 0.8% annualized) from December 31, 2024;Net growth in loans of $33.9 million (or 3.4% annualized) from December 31, 2024; andThe payment of a 26 cent per share dividend on common stock on February 14, 2025. GRAND RAPIDS, Mich., April 24, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP) reported first quarter 2025 net income of $15.6 million, or $0.74 per diluted share, versus net
GRAND RAPIDS, Mich., April 22, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock of 26 cents per share. This dividend is payable on May 15, 2025, to shareholders of record on May 5, 2025. About Independent Bank Corporation Independent Bank Corporation (NASDAQ:IBCP) is a Michigan-based bank holding company with total assets of approximately $5.3 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan's Lower Peninsula through on
GRAND RAPIDS, Mich., March 28, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that it expects to issue its 2025 first quarter results on Thursday, April 24, 2025, at approximately 8:00 am ET. The release will be available on the Internet at IndependentBank.com within the "News" section of the "Investor Relations" area of the Company's website. Brad Kessel, President and CEO, Gavin Mohr, CFO and Joel Rahn, EVP Commercial Banking will review the quarterly results in a conference call for investors and analysts beginning at 11:00 am ET on Thursday, April 24, 2025. To participate in the
Fourth Quarter Highlights Highlights for the fourth quarter of 2024 include: An increase in net interest income of $1.0 million (2.4%) over the third quarter of 2024;A net interest margin of 3.45% (eight basis point increase from the linked quarter)A return on average assets and a return on average equity of 1.39% and 16.31%, respectively;Net growth in loans of $96.5 million (or 9.7% annualized) from September 30, 2024; andThe payment of a 24 cent per share dividend on common stock on November 15, 2024. GRAND RAPIDS, Mich., Jan. 23, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP) reported fourth quarter 2024 net income of $18.5 million, or $0.87 per diluted share, ve
GRAND RAPIDS, Mich., Jan. 10, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock of 26 cents per share. This dividend is payable on February 14, 2025, to shareholders of record on February 4, 2025. The quarterly dividend represents an 8% increase over the quarterly dividend rate paid for each quarter in 2024. William B. ("Brad") Kessel, the President and Chief Executive Officer of Independent Bank Corporation, commented: "I am pleased that our Board of Directors has approved an increase of over 8%
GRAND RAPIDS, Mich., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that it expects to issue its 2024 fourth quarter results on Thursday, January 23, 2025, at approximately 8:00 am ET. The release will be available on the Internet at IndependentBank.com within the "News" section of the "Investor Relations" area of the Company's website. Brad Kessel, President and CEO, Gavin Mohr, CFO and Joel Rahn, EVP Commercial Banking will review the quarterly results in a conference call for investors and analysts beginning at 11:00 am ET on Thursday, January 23, 2025. To participate in
GRAND RAPIDS, Mich., Dec. 20, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that it expects to issue its 2024 fourth quarter results on Thursday, January 23, 2025, at approximately 8:00 am ET. The release will be available on the Internet at IndependentBank.com within the "News" section of the "Investor Relations" area of the Company's website. Brad Kessel, President and CEO, Gavin Mohr, CFO and Joel Rahn, EVP Commercial Banking will review the quarterly results in a conference call for investors and analysts beginning at 11:00 am ET on Thursday, January 23, 2025. To participate
Third Quarter Highlights Highlights for the third quarter of 2024 include: Increases in net interest income of $0.5 million (or 4.9% annualized) from June 30, 2024;An increase in tangible book value per share of $3.69 (22.3%) over the third quarter of 2023;Net growth in core deposits of $100.1 million (or 8.9% annualized) from June 30, 2024;Net growth in loans of $90.4 million (or 9.3% annualized) from June 30, 2024; andThe payment of a 24 cent per share dividend on common stock on August 15, 2024. GRAND RAPIDS, Mich., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP) reported third quarter 2024 net income of $13.8 million, or $0.65 per diluted share, versus n
GRAND RAPIDS, Mich., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock of 24 cents per share. This dividend is payable on November 15, 2024 to shareholders of record on November 5, 2024. About Independent Bank Corporation Independent Bank Corporation (NASDAQ:IBCP) is a Michigan-based bank holding company with total assets of approximately $5.3 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan's Lower Peninsula th
GRAND RAPIDS, Mich., Sept. 23, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that it expects to issue its 2024 third quarter results on Thursday, October 24, 2024, at approximately 8:00 am ET. The release will be available on the Internet at IndependentBank.com within the "News" section of the "Investor Relations" area of the Company's website. Brad Kessel, President and CEO, Gavin Mohr, CFO and Joel Rahn, EVP Commercial Banking will review the quarterly results in a conference call for investors and analysts beginning at 11:00 am ET on Thursday, October 24, 2024. To participate