Independent Bank (IBCP)

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	121.56 mm	121.56 mm	121.56 mm	121.56 mm	121.56 mm	121.56 mm
Cash burn (monthly)	30.93 mm	491.75 k	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	157.18 mm	2.50 mm	n/a	n/a	n/a	n/a
Cash remaining	-35.62 mm	119.06 mm	n/a	n/a	n/a	n/a
Runway (months of cash)	-1.2	242.1	n/a	n/a	n/a	n/a

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Financial data from company earnings reports.

Institutional ownership, Q3 2024

IBCP institutional ownership history Ownership history

84.8% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	149	138	+8.0%
Opened positions	25	28	-10.7%
Closed positions	14	14	–
Increased positions	52	50	+4.0%
Reduced positions	45	41	+9.8%

13F shares	Current	Prev Q	Change
Total value	548.64 bn	419.97 bn	+30.6%
Total shares	17.73 mm	16.96 mm	+4.5%
Total puts	0.00	0.00
Total calls	0.00	0.00
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
BlackRock	2.84 mm	$94.60 bn	NEW
Vanguard	1.19 mm	$39.79 bn	+12.0%
FMR	1.03 mm	$34.51 bn	+7.2%
Dimensional Fund Advisors	961.20 k	$32.05 bn	-2.5%
FJ Capital Management	805.37 k	$26.86 bn	-33.6%
STT State Street	647.58 k	$21.60 bn	+4.8%
Renaissance Technologies	600.90 k	$20.04 bn	+1.0%
Geode Capital Management	499.55 k	$16.66 bn	+0.4%
American Century Companies	469.68 k	$15.66 bn	+13.0%
LSV Asset Management	467.27 k	$15.58 mm	-11.1%

Largest transactions	Shares	Bought/sold	Change
BLK BlackRock	0.00	-2.96 mm	EXIT
BlackRock	2.84 mm	+2.84 mm	NEW
FJ Capital Management	805.37 k	-407.45 k	-33.6%
Boston Partners	283.98 k	+242.79 k	+589.5%
ProShare Advisors	219.10 k	+219.10 k	NEW
Nuveen Asset Management	349.86 k	+136.69 k	+64.1%
Vanguard	1.19 mm	+127.78 k	+12.0%
Charles Schwab Investment Management	171.09 k	+114.49 k	+202.3%
Russell Investments	227.06 k	+109.75 k	+93.6%
GS The Goldman Sachs Group, Inc.	342.98 k	+90.09 k	+35.6%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

IBCP insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
19 Feb 25	James J Twarozynski	Common Stock	Payment of exercise	Dispose F	No	No	34.76	142	4.94 k	8,922
19 Feb 25	James J Twarozynski	Common Stock	Option exercise	Acquire M	No	No	0	323	0.00	9,064
19 Feb 25	James J Twarozynski	Performance Right Common Stock	Option exercise	Dispose M	No	No	0	181	0.00	0
19 Feb 25	Kessel William B	Common Stock	Payment of exercise	Dispose F	No	No	34.76	3,960	137.65 k	150,526
19 Feb 25	Kessel William B	Common Stock	Option exercise	Acquire M	No	No	0	9,082	0.00	154,486
19 Feb 25	Kessel William B	Performance Right Common Stock	Option exercise	Dispose M	No	No	0	5,088	0.00	0
19 Feb 25	Larry R Daniel Jr	Common Stock	Payment of exercise	Dispose F	No	No	34.76	1,150	39.97 k	24,230.46
19 Feb 25	Larry R Daniel Jr	Common Stock	Option exercise	Acquire M	No	No	0	3,611	0.00	25,380.46
19 Feb 25	Larry R Daniel Jr	Performance Right Common Stock	Option exercise	Dispose M	No	No	0	2,023	0.00	0
19 Feb 25	Gavin A. Mohr	Common Stock	Payment of exercise	Dispose F	No	No	34.76	1,648	57.28 k	21,826