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Side-by-side financial comparison of INDEPENDENT BANK CORP (IBCP) and indie Semiconductor, Inc. (INDI). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($58.9M vs $55.5M, roughly 1.1× indie Semiconductor, Inc.). Over the past eight quarters, indie Semiconductor, Inc.'s revenue compounded faster (2.9% CAGR vs 2.1%).
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
IBCP vs INDI — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $58.9M | $55.5M |
| Net Profit | $16.9M | — |
| Gross Margin | — | 38.0% |
| Operating Margin | — | -70.1% |
| Net Margin | 28.6% | — |
| Revenue YoY | — | 2.6% |
| Net Profit YoY | 8.2% | — |
| EPS (diluted) | $0.81 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $58.9M | $55.5M | ||
| Q4 25 | $58.3M | $58.0M | ||
| Q3 25 | $57.3M | $53.7M | ||
| Q2 25 | $55.9M | $51.6M | ||
| Q1 25 | $54.1M | $54.1M | ||
| Q4 24 | $62.0M | $58.0M | ||
| Q3 24 | $51.4M | $54.0M | ||
| Q2 24 | $56.5M | $52.4M |
| Q1 26 | $16.9M | — | ||
| Q4 25 | $18.6M | $-31.2M | ||
| Q3 25 | $17.5M | $-38.3M | ||
| Q2 25 | $16.9M | $-39.0M | ||
| Q1 25 | $15.6M | $-34.5M | ||
| Q4 24 | $18.5M | $-34.4M | ||
| Q3 24 | $13.8M | $-49.7M | ||
| Q2 24 | $18.5M | $-19.2M |
| Q1 26 | — | 38.0% | ||
| Q4 25 | — | 37.3% | ||
| Q3 25 | — | 40.1% | ||
| Q2 25 | — | 40.6% | ||
| Q1 25 | — | 41.7% | ||
| Q4 24 | — | 42.6% | ||
| Q3 24 | — | 39.3% | ||
| Q2 24 | — | 42.2% |
| Q1 26 | — | -70.1% | ||
| Q4 25 | 34.8% | -58.5% | ||
| Q3 25 | 37.0% | -71.4% | ||
| Q2 25 | 37.0% | -83.3% | ||
| Q1 25 | 35.3% | -72.0% | ||
| Q4 24 | 36.7% | -58.4% | ||
| Q3 24 | 33.7% | -92.5% | ||
| Q2 24 | 41.0% | -70.0% |
| Q1 26 | 28.6% | — | ||
| Q4 25 | 31.8% | -53.8% | ||
| Q3 25 | 30.5% | -71.3% | ||
| Q2 25 | 30.2% | -75.6% | ||
| Q1 25 | 28.8% | -63.9% | ||
| Q4 24 | 29.8% | -59.2% | ||
| Q3 24 | 26.9% | -92.1% | ||
| Q2 24 | 32.8% | -36.6% |
| Q1 26 | $0.81 | — | ||
| Q4 25 | $0.88 | $-0.16 | ||
| Q3 25 | $0.84 | $-0.19 | ||
| Q2 25 | $0.81 | $-0.20 | ||
| Q1 25 | $0.74 | $-0.18 | ||
| Q4 24 | $0.87 | $-0.18 | ||
| Q3 24 | $0.65 | $-0.28 | ||
| Q2 24 | $0.88 | $-0.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $174.9M | $174.4M |
| Total DebtLower is stronger | — | $402.8M |
| Stockholders' EquityBook value | $510.6M | $348.9M |
| Total Assets | $5.6B | $869.6M |
| Debt / EquityLower = less leverage | — | 1.15× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $174.9M | $174.4M | ||
| Q4 25 | $138.4M | $145.5M | ||
| Q3 25 | $208.7M | $160.9M | ||
| Q2 25 | $146.2M | $192.6M | ||
| Q1 25 | $128.1M | $236.6M | ||
| Q4 24 | $119.9M | $274.2M | ||
| Q3 24 | $121.6M | $96.9M | ||
| Q2 24 | $214.3M | $112.3M |
| Q1 26 | — | $402.8M | ||
| Q4 25 | — | $353.4M | ||
| Q3 25 | — | $353.5M | ||
| Q2 25 | — | $352.5M | ||
| Q1 25 | — | $379.0M | ||
| Q4 24 | — | $381.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $510.6M | $348.9M | ||
| Q4 25 | $503.0M | $358.0M | ||
| Q3 25 | $490.7M | $369.2M | ||
| Q2 25 | $469.3M | $390.4M | ||
| Q1 25 | $467.3M | $405.6M | ||
| Q4 24 | $454.7M | $417.9M | ||
| Q3 24 | $452.4M | $458.6M | ||
| Q2 24 | $430.5M | $470.7M |
| Q1 26 | $5.6B | $869.6M | ||
| Q4 25 | $5.5B | $840.8M | ||
| Q3 25 | $5.5B | $855.1M | ||
| Q2 25 | $5.4B | $867.6M | ||
| Q1 25 | $5.3B | $909.0M | ||
| Q4 24 | $5.3B | $941.4M | ||
| Q3 24 | $5.3B | $797.5M | ||
| Q2 24 | $5.3B | $797.3M |
| Q1 26 | — | 1.15× | ||
| Q4 25 | — | 0.99× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IBCP
| Net Interest Income | $46.9M | 80% |
| Noninterest Income | $12.0M | 20% |
INDI
| Product revenue | $51.6M | 93% |
| Contract revenue | $3.9M | 7% |
