independent bank is a michigan-based bank that's been operated locally for more than 150 years. in 1864 we were founded as first national bank of ionia; we now have locations across the lower peninsula and we’re the fifth largest bank headquartered in michigan. but in one way we’ve never changed – people are always our first priority. we’re committed to providing exceptional service and value to our customers, our stockholders, and our communities. after 150 years of local banking, we understand the needs of individuals, families, and businesses around the state – and we’re committed to addressing them. we support local causes and our employees serve their communities’ human services agencies, arts and cultural organizations, school systems, places of worship, and more. we’re your friends and neighbors, locally invested the same way you are. we’re a full-service bank that provides a wide range of competitive banking products, services, and technology. visit us at independentbank.com fo
Company profile
Ticker
IBCP
Exchange
Website
CEO
William Bradford Kessel
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
INDEPENDENT BANK CORPORATION • IBC Capital Finance • IB Advisory Services, Inc. • Independent Title Services, Inc. ...
IRS number
382032782
IBCP stock data
Latest filings (excl ownership)
10-Q
2024 Q1
Quarterly report
3 May 24
8-K
Results of Operations and Financial Condition
25 Apr 24
8-K
Submission of Matters to a Vote of Security Holders
24 Apr 24
8-K
Regulation FD Disclosure
23 Apr 24
ARS
2023 FY
Annual report to shareholders
8 Mar 24
DEFA14A
Additional proxy soliciting materials
8 Mar 24
DEF 14A
Definitive proxy
8 Mar 24
10-K
2023 FY
Annual report
8 Mar 24
8-K
Results of Operations and Financial Condition
25 Jan 24
10-Q
2023 Q3
Quarterly report
3 Nov 23
Transcripts
IBCP
Earnings call transcript
2024 Q1
25 Apr 24
IBCP
Earnings call transcript
2023 Q4
25 Jan 24
IBCP
Earnings call transcript
2023 Q3
24 Oct 23
IBCP
Earnings call transcript
2023 Q2
25 Jul 23
IBCP
Earnings call transcript
2023 Q2
25 Jul 23
IBCP
Earnings call transcript
2023 Q1
27 Apr 23
IBCP
Earnings call transcript
2022 Q4
26 Jan 23
IBCP
Earnings call transcript
2022 Q3
25 Oct 22
IBCP
Earnings call transcript
2022 Q2
26 Jul 22
IBCP
Earnings call transcript
2022 Q1
26 Apr 22
Latest ownership filings
144
Notice of proposed sale of securities
14 Jun 24
4
Christina Keller
14 Jun 24
4
Stefanie M Kimball
31 May 24
144
Notice of proposed sale of securities
30 May 24
4
JAMES J TWAROZYNSKI
29 Apr 24
4
Joan A Budden
2 Apr 24
4
William J Boer
2 Apr 24
4
STEPHEN L GULIS JR
2 Apr 24
4
Christina Keller
2 Apr 24
4
MATTHEW J MISSAD
2 Apr 24
Financial summary
Quarter (USD) | Mar 24 | Dec 23 | Sep 23 | Jun 23 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 23 | Dec 22 | Dec 21 | Dec 20 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
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) | 161.84 mm | 161.84 mm | 161.84 mm | 161.84 mm | 161.84 mm | 161.84 mm |
Cash burn (monthly) | 2.65 mm | 5.43 mm | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 6.88 mm | 14.12 mm | n/a | n/a | n/a | n/a |
Cash remaining | 154.97 mm | 147.73 mm | n/a | n/a | n/a | n/a |
Runway (months of cash) | 58.6 | 27.2 | n/a | n/a | n/a | n/a |
Institutional ownership, Q4 2023
2.2% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 10 |
Opened positions | 2 |
Closed positions | 104 |
Increased positions | 6 |
Reduced positions | 1 |
13F shares | Current |
---|---|
Total value | 11.81 bn |
Total shares | 469.59 k |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Allspring Global Investments | 398.87 k | $10.38 bn |
Ziegler Capital Management | 27.49 k | $715.34 mm |
SG Americas Securities | 15.26 k | $397.00 k |
Raymond James Financial Services Advisors | 14.75 k | $383.73 mm |
Denali Advisors | 5.30 k | $137.91 mm |
Nisa Investment Advisors | 3.78 k | $98.43 mm |
FITB Fifth Third Bancorp | 2.06 k | $53.60 mm |
IFP Advisors | 852.00 | $22.18 mm |
Private Trust Co Na | 700.00 | $18.21 mm |
International Assets Investment Management | 520.00 | $20.00 k |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
14 Jun 24 | Christina Keller | Common Stock | Sell | Dispose S | Yes | No | 23.6201 | 2,400 | 56.69 k | 6,563 |
29 May 24 | Kimball Stefanie M | Common Stock | Sell | Dispose S | No | No | 24.48 | 90 | 2.20 k | 61,784 |
29 May 24 | Kimball Stefanie M | Common Stock | Sell | Dispose S | No | No | 24.5 | 100 | 2.45 k | 61,874 |
29 May 24 | Kimball Stefanie M | Common Stock | Sell | Dispose S | No | No | 24.47 | 200 | 4.89 k | 61,974 |
29 May 24 | Kimball Stefanie M | Common Stock | Sell | Dispose S | No | No | 24.49 | 1,310 | 32.08 k | 62,174 |
29 Apr 24 | James J Twarozynski | Common Stock | Sell | Dispose S | No | No | 25 | 1,500 | 37.50 k | 8,366 |
1 Apr 24 | Boer William J | Common Stock | Grant | Acquire A | No | No | 25.35 | 366 | 9.28 k | 13,175.899 |
15 Feb 24 | Dennis W. Archer Jr | Phantom Stock Units Common Stock | Grant | Acquire A | No | No | 25.1 | 56.94 | 1.43 k | 6,011.72 |
Press releases
Independent Bank Corporation Announces Appointment of Stephen L. Gulis, Jr. as Chairperson to Its Board of Directors
23 Apr 24
Independent Bank Corporation Announces Quarterly Cash Dividend on Common Stock
23 Apr 24
Independent Bank Corporation Announces Date for Its First Quarter 2024 Earnings Release
2 Apr 24