IBCPINDEPENDENT BANK CORP /MI/
State Commercial Banks
- Revenue
- $32M
- 0.3% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear112% of net incomeCash flow under 80% of net income
- Dilutive SBCClear8% of revenueOver 10% of revenue
- Payouts exceed cash flowClear44% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear0% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $29M | $32M | $33M | $32M | $32M | 0.3% |
| Net income | $63M | $63M | $59M | $67M | $69M | 2.6% |
| Operating cash flow | $110M | $95M | $76M | $63M | $77M | 21% |
| Capex | $6M | $6M | $6M | $8M | $6M | 18% |
| Stock-based comp | $2M | $2M | $2M | $2M | $3M | 16% |
| Buybacks | $17M | $4M | $5M | $0 | $12M | |
| Dividends | $18M | $19M | $19M | $20M | $22M | 7.8% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $42K · 1
- Open-market sells, 12 mo
- $75K · 9
- Net
- −$32K
Pay vs performance
No pay-versus-performance disclosure yet.