INDEPENDENT BANK CORP /MI/ (IBCP)
As-reported financials and SEC filings for INDEPENDENT BANK CORP /MI/. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.
Snapshot
Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
What changed at Independent Bank Corp /mi/
- Revenue grew 1.4% to $226M in FY2025, slower than the 7.5% the year before.
- Most recent quarter Q2 FY2026: revenue $63M, up 13.0% from Q2 FY2025.
- Free cash flow was $70M in FY2025, 31.1% of revenue.
- Net income rose 2.6% to $69M in FY2025.
Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.
Peer comparison
Where Independent Bank Corp /mi/’s fundamentals sit among the 76 banks. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).
Independent Bank Corp /mi/’s revenue growth of +1.4% ranks in the 5th percentile of the 76 banks reporting it. Independent Bank Corp /mi/’s return on equity of 13.6% ranks in the 89th percentile of the 76 banks reporting it.
No reported insider purchases (code P) in the last 90 days; 7 insider sales totaling $118,058. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →
Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.
Institutional ownership
Held by 7 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.
| Investor | As of | Position value | Shares | Change |
|---|---|---|---|---|
| Renaissance Technologiesquant | Q2 2026 | $22.3M | 617.5K | Added |
| Two Sigma Investmentsquant | Q2 2026 | $11.5M | 318.6K | Reduced |
| Citadel Advisorsquant | Q2 2026 | $7.6M | 211.2K | Added |
| AQR Capital Managementquant | Q2 2026 | $6.5M | 179.0K | Added |
| Point72 Asset Managementquant | Q2 2026 | $2.5M | 70.4K | Reduced |
| Millennium Managementquant | Q2 2026 | $2.2M | 61.3K | Reduced |
| D. E. Shawquant | Q2 2026 | $999,103 | 27.7K | New |
From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.
Recent insider activity
Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.
| Trade date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
2026-08-19 filed 2026-08-20 | Kreter KristopherFirst Vice Pres. & Controller | Sell | 300 | $37.11 | $11K |
2026-08-10 | TWAROZYNSKI JAMES JSenior Vice President | Sell | 489 | $37.67 | $18K |
2026-06-09 filed 2026-06-10 | Ervin Patrick JExecutive Vice President | Sell | 1.4K | $35.39 | $50K |
2026-06-09 filed 2026-06-10 | Ervin Patrick JExecutive Vice President | Sell | 780 | $35.42 | $28K |
2026-06-09 filed 2026-06-10 | Ervin Patrick JExecutive Vice President | Sell | 242 | $35.41 | $9K |
2026-06-09 filed 2026-06-10 | Ervin Patrick JExecutive Vice President | Sell | 76 | $35.40 | $3K |
2026-06-09 filed 2026-06-10 | Ervin Patrick JExecutive Vice President | Sell | 2 | $35.44 | $71 |
2026-05-29 | Kimball Stefanie MExecutive Vice President | Sell | 1.4K | $34.41 | $48K |
Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.
Short interest
Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 2026-08-14 | 630.0K | +15.7% | 3.47 |
| 2026-07-31 | 544.4K | +3.3% | 2.25 |
| 2026-07-15 | 527.1K | -27.4% | 3.05 |
| 2026-06-30 | 726.0K | +14.9% | 3.20 |
| 2026-06-15 | 632.1K | -2.4% | 4.53 |
| 2026-05-29 | 647.9K | +9.9% | 5.85 |
| 2026-05-15 | 589.6K | +5.1% | 3.23 |
| 2026-04-30 | 561.1K | +13.8% | 3.64 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.
Bank fundamentals
Regulatory detail for Independent Bank (Grand Rapids, MI), the insured-bank subsidiary, from its FDIC Call Report as of Q1 2026. This is what actually moves bank stocks: deposit franchise, capital, and credit quality that a standard income statement can’t show.
Source: FDIC BankFind (Call Report). Bank-subsidiary figures, filed quarterly ~30 days after quarter-end.
Income statement (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $225.7M | $222.6M | $207.0M | $211.5M | $206.4M |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $68.5M | $66.8M | $59.1M | $63.4M | $62.9M |
| Diluted EPS | $3.27 | $3.16 | $2.79 | $2.97 | $2.88 |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Balance sheet (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | $138.4M | $119.9M | $169.8M | $74.4M | $109.5M |
| Current assets | — | — | — | — | — |
| Total assets | $5.51B | $5.34B | $5.26B | $5.00B | $4.70B |
| Current liabilities | — | — | — | — | — |
| Long-term debt | — | — | — | — | — |
| Total liabilities | $5.00B | $4.88B | $4.86B | $4.65B | $4.31B |
| Total equity | $503.0M | $454.7M | $404.4M | $347.6M | $398.5M |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Cash flow (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Operating cash flow | $76.7M | $63.2M | $75.6M | $94.6M | $110.2M |
| Capital expenditure | $6.5M | $8.0M | $6.0M | $5.7M | $5.8M |
| Free cash flow | $70.2M | $55.2M | $69.6M | $89.0M | $104.3M |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Quarterly trend (as reported)
| Quarter | Revenue | Revenue YoY | Net income | Diluted EPS |
|---|---|---|---|---|
| Q2 FY2026 | $63.2M | 13.0% | $18.8M | $0.90 |
| Q1 FY2026 | $58.9M | 8.9% | $16.9M | $0.81 |
| Q4 FY2025 | $58.3M | -5.9% | $18.6M | $0.89 |
| Q3 FY2025 | $57.3M | 11.6% | $17.5M | $0.84 |
| Q2 FY2025 | $55.9M | -1.0% | $16.9M | $0.81 |
| Q1 FY2025 | $54.1M | 2.6% | $15.6M | $0.74 |
| Q4 FY2024 | $62.0M | 25.9% | $18.5M | $0.87 |
| Q3 FY2024 | $51.4M | -6.7% | $13.8M | $0.65 |
Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.
Company facts
Selected SEC filings
Largest bank peers
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.