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Last $13.37 USD
Change Today -0.18 / -1.33%
Volume 59.9K
IBCP On Other Exchanges
As of 8:10 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

independent bank corp - mich (IBCP) Snapshot

Previous Close
Day High
Day Low
52 Week High
06/11/15 - $13.93
52 Week Low
10/10/14 - $11.47
Market Cap
Average Volume 10 Days
Shares Outstanding
Dividend Yield

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independent bank corp - mich (IBCP) Details

Independent Bank Corporation operates as the bank holding company for Independent Bank that provides various banking services to individuals and businesses in Michigan. It offers checking and savings accounts, non-interest bearing demand deposits, NOW accounts, and time deposits; mortgage, commercial, and installment loans, as well as direct and indirect consumer financing services; and safe deposit box services. The company also acquires and services payment plans used by consumers to purchase vehicle service contracts. In addition, it provides title insurance services, and investment and insurance services; and Internet and mobile banking services. The company offers its services through approximately 70 branches, 2 drive-thru facilities, and 7 loan production offices. Independent Bank Corporation was founded in 1864 and is based in Ionia, Michigan.

700 Employees
Last Reported Date: 03/6/15
Founded in 1864

independent bank corp - mich (IBCP) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $410.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $241.6K
Executive Vice President of Retail Banking, C...
Total Annual Compensation: $235.1K
Eecutive Vice President and General Counsel
Total Annual Compensation: $239.3K
Chief Risk Officer and Executive Vice Preside...
Total Annual Compensation: $236.3K
Compensation as of Fiscal Year 2014.

independent bank corp - mich (IBCP) Key Developments

Independent Bank Corporation Announces Quarterly Cash Dividend on Common Stock, Payable on May 15, 2015

Independent Bank Corporation announced that its Board of Directors declared a quarterly cash dividend on its common stock of six cents per share. This dividend is payable on May 15, 2015 to shareholders of record on May 5, 2015.

Independent Bank Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Loan Net Charge-Offs for the First Quarter of 2015

Independent Bank Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the period, the company reported net interest income of $18.091 million against $18.478 million a year ago. The year-over-year quarterly decrease in net interest income is due to the decline in the net interest margin that was only partially offset by an increase in average interest-earning assets. Income before income tax was $5.561 million against $4.605 million a year ago. Net income was $3.781 million or $0.16 per diluted share against $3.138 million or $0.13 per diluted share a year ago. Net income to average common shareholders' equity was 6.05% against 5.41% a year ago. Net income to average assets was 0.67% against 0.57% a year ago. Tangible book value per share was $10.94 at March 31, 2015 compared to $10.79 at December 31, 2014. Total interest income was $19.552 million against $20.283 million a year ago. Loan net charge-offs were $0.7 million (0.19% annualized of average loans) in the first quarter of 2015, compared to $2.3 million (0.69% annualized of average loans) in the first quarter of 2014. The decline in first quarter 2015 loan net charge-offs compared to year ago levels is primarily due to a $1.7 million decline in commercial loan net charge-offs that was partially offset by a $0.1 million increase in mortgage and consumer/installment loan net charge-offs.

Independent Bank Corporation to Report Q1, 2015 Results on Apr 20, 2015

Independent Bank Corporation announced that they will report Q1, 2015 results at 8:00 AM, US Eastern Standard Time on Apr 20, 2015


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Valuation IBCP Industry Range
Price/Earnings 16.8x
Price/Sales 2.6x
Price/Book 1.2x
Price/Cash Flow 16.5x
TEV/Sales 1.2x

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