Independent Bank Corporation (IBCP)

Independent Bank Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	146.16	119.88	169.48	74.07	109.47	108.77
Investment Securities	602.88	633.74	733.14	826.72	979.3	677.55
Trading Asset Securities	34.19	37.06	38.68	39.75	12.28	16.78
Mortgage-Backed Securities	235.93	264.88	300.2	327.45	433.53	394.61
Total Investments	873	935.68	1,072	1,194	1,425	1,089
Gross Loans	4,164	4,039	3,791	3,465	2,905	2,743
Allowance for Loan Losses	-61.16	-59.38	-54.66	-52.44	-47.25	-35.43
Other Adjustments to Gross Loans	-	-	-	-	-	-8.9
Net Loans	4,103	3,979	3,736	3,413	2,858	2,698
Property, Plant & Equipment	45.31	43.46	40.43	41.44	42.89	43.77
Goodwill	28.3	28.3	28.3	28.3	28.3	28.3
Other Intangible Assets	1.24	1.49	2	2.55	3.34	4.31
Loans Held for Sale	12.49	7.64	12.06	46.89	90.28	92.43
Accrued Interest Receivable	5.4	5.6	6.4	54.12	18.87	12.32
Restricted Cash	-	-	0.3	0.3	-	9.94
Long-Term Deferred Tax Assets	-	24.46	23.8	29.5	4.35	0.28
Other Real Estate Owned & Foreclosed	0.43	0.94	0.57	0.46	0.25	0.77
Other Long-Term Assets	184.87	175.11	155.29	97.69	105.68	97.52
Total Assets	5,419	5,338	5,264	5,000	4,705	4,204
Accrued Expenses	80.69	79.98	80.19	83.13	67.65	48.7
Interest Bearing Deposits	3,651	3,429	3,370	3,026	2,702	2,434
Institutional Deposits	-	211.38	176.6	82.9	93.1	50
Non-Interest Bearing Deposits	1,008	1,014	1,076	1,270	1,322	1,153
Total Deposits	4,659	4,654	4,623	4,379	4,117	3,637
Short-Term Borrowings	20.75	18.62	21.84	80.13	5.96	11.75
Current Portion of Leases	0.69	1.31	-	-	-	-
Long-Term Debt	141.63	39.6	39.54	39.44	39.37	39.29
Federal Home Loan Bank Debt, Long-Term	-	45	50	25	30	30
Long-Term Leases	6.31	5.03	5.11	5.77	6.6	7.87
Trust Preferred Securities	39.83	39.8	39.73	39.66	39.59	39.52
Total Liabilities	4,949	4,883	4,859	4,652	4,306	3,814
Common Stock	311.65	318.78	317.48	320.99	323.4	339.35
Retained Earnings	227.48	205.85	159.11	119.37	74.58	40.15
Comprehensive Income & Other	-69.89	-69.94	-72.14	-92.76	0.5	10.02
Shareholders' Equity	469.25	454.69	404.45	347.6	398.48	389.52
Total Liabilities & Equity	5,419	5,338	5,264	5,000	4,705	4,204
Total Debt	209.22	149.35	156.21	190	121.52	128.44
Net Cash (Debt)	-28.87	7.59	51.95	-76.18	0.24	-2.89
Net Cash Growth	-	-85.39%	-	-	-	-
Net Cash Per Share	-1.37	0.36	2.45	-3.58	0.01	-0.13
Filing Date Shares Outstanding	20.71	20.97	20.91	21.13	21.2	21.77
Total Common Shares Outstanding	20.72	20.9	20.84	21.06	21.17	21.85
Book Value Per Share	22.65	21.76	19.41	16.50	18.82	17.82
Tangible Book Value	439.71	424.9	374.15	316.75	366.85	356.92
Tangible Book Value Per Share	21.23	20.33	17.96	15.04	17.33	16.33

Updated Jul 24, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q