INDEPENDENT BANK CORPIBCPEarnings & Financial Report
Nasdaq · Financials · State Commercial Banks
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
Revenue
$51.4M
Gross Profit
N/A
Operating Profit
$17.3M
Net Profit
$13.8M
Gross Margin
N/A
Operating Margin
33.7%
Net Margin
26.9%
YoY Growth
-6.7%
EPS
$0.65
INDEPENDENT BANK CORP Q3 FY2024 Financial Summary
INDEPENDENT BANK CORP reported revenue of $51.4M (down 6.7% YoY) for Q3 FY2024, with a net profit of $13.8M (down 21.3% YoY) (26.9% margin).
Key Financial Metrics
| Total Revenue | $51.4M |
|---|---|
| Net Profit | $13.8M |
| Gross Margin | N/A |
| Operating Margin | 33.7% |
| Report Period | Q3 FY2024 |
INDEPENDENT BANK CORP Annual Revenue by Year
INDEPENDENT BANK CORP annual revenue history includes year-by-year totals (for example, 2025 revenue was $225.7M).
| Year | Annual Revenue |
|---|---|
| 2025 | $225.7M |
| 2024 | $222.6M |
| 2023 | $32.9M |
| 2022 | $31.6M |
INDEPENDENT BANK CORP Quarterly Revenue & Net Profit History
INDEPENDENT BANK CORP results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $58.9M | — | $16.9M | 28.6% |
| Q4 FY2025 | $58.3M | -5.9% | $18.6M | 31.8% |
| Q3 FY2025 | $57.3M | +11.6% | $17.5M | 30.5% |
| Q2 FY2025 | $55.9M | -1.0% | $16.9M | 30.2% |
| Q1 FY2025 | $54.1M | +2.6% | $15.6M | 28.8% |
| Q4 FY2024 | $62.0M | +25.9% | $18.5M | 29.8% |
| Q3 FY2024 | $51.4M | -6.7% | $13.8M | 26.9% |
| Q2 FY2024 | $56.5M | +5.1% | $18.5M | 32.8% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $56.5M | $51.4M | $62.0M | $54.1M | $55.9M | $57.3M | $58.3M | $58.9M |
| YoY Growth | 5.1% | -6.7% | 25.9% | 2.6% | -1.0% | 11.6% | -5.9% | N/A |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $5.28B | $5.26B | $5.34B | $5.33B | $5.42B | $5.49B | $5.51B | $5.56B |
| Liabilities | $4.85B | $4.81B | $4.88B | $4.86B | $4.95B | $5.00B | $5.00B | $5.05B |
| Equity | $430.5M | $452.4M | $454.7M | $467.3M | $469.3M | $490.7M | $503.0M | $510.6M |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $8.7M | $17.2M | $63.2M | $31.7M | $19.0M | $18.2M | $76.7M |