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Company Analysis

Independent Bank Corporation IBCP

A comprehensive view of key metrics, scores, and financial health for Independent Bank Corporation

Overview of Independent Bank Corporation

IBCP NMS
Financial Services Banks - Regional Small Cap
Independent Bank Corporation (IBCP), is a Small Cap company, in the Banks - Regional industry, last closed at $33.27, about 26.8% overvalued vs fair value, +7.3% 1Y return, ranked 526/1004 in sector.
$33.27
0.45%
As of March 13, 2026
Previous close • Vol 90d: 25.4%
52-Week Range
Market Cap
$700.01M
Enterprise Value
$764.64M
Overall Score
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Top Beats

Quick Facts

Website https://www.independentbank.co...
HQ Grand Rapids, MI
Fiscal year Dec 31

Next Events

Earnings Apr 23 Estimated

Fair Value Snapshot

Bear Base Bull
$14
$24
$46
Current: $33.27 -27% vs base

Engine Room Money Flow™

Small Cap

Financial Services - Where revenue goes and how value is created

Flow Steps
Interest Income
$266.8M
11.3%%
Interest Expense
$89.7M
Net Interest Income
$166.2M
6.3%%
Total Revenue
$315.4M
46.1%%
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Financial Services

Quality & Reliability Indicators

Return on Equity
14.7%
Good

Net Income / Equity - key bank profitability metric

Locked Metric
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Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Combined dividends, buybacks, and debt reduction

$20.0M
30.0% of Net Income

Where It Leaks

Cash Flow Health critical
Significant cash flow inefficiencies identified. Multiple high-impact leaks require attention.
1
Active Leaks
1/1
Improving
0
High Impact
1
Critical
Moat Analysis Bank Specialized

Competitive Advantage Assessment

Evaluating Independent Bank Corporation's durable competitive advantages across 6 defense dimensions

Overall Moat Strength
72
/100
Moderate
Scores based on quantitative metrics and qualitative factors

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Deposit Franchise

Strong
84
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Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Banks (Regional & Diversified) vs Industry Peers 91% Coverage
Trade-Off Triangle Visualization A ternary plot showing IBCP's balance between Growth (20.2%), Profitability (37.8%), and Safety (42.0%). Growth 20% Safety 42% Profitability 38%

Click axes to expand details. Marker shows current allocation.

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Growth

40th percentile vs peers
41
Key Signals
Rev Growth YoY 46.1% 39p Asset Growth YoY 3.1% 45p Revenue CAGR 3Y 15.5% 37p
Strengths
  • Roe in top 20% of peers (15.6%, 90th percentile)
  • Roe in top 20% of peers (15.6%, 90th percentile)
  • Superior capital returns - 2 return metrics above peer median
Risks
  • Growth below peer median (percentile: 40)

Profitability

76th percentile vs peers
77
Key Signals
Strengths
Risks
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Safety

84th percentile vs peers
85
Key Signals
Strengths
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Two Futures

Scenario-based fair value ranges for Independent Bank Corporation.

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Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

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  • Shell companies or holding companies
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Bear
-
- - -
- upside
-
Base
$24.37
- - -
-26.8% vs current
Snapshot base estimate
Bull
-
- - -
- upside
-
Fair Value Range Current: $-
$- $- $-
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