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Independent Bank Corp. - IBCP STOCK NEWS

Welcome to our dedicated page for Independent Bank news (Ticker: IBCP), a resource for investors and traders seeking the latest updates and insights on Independent Bank stock.

Independent Bank Corp. (IBCP) is a Michigan-based commercial bank with a rich history spanning over 150 years. Founded in 1864 as First National Bank of Ionia, it has grown to become the fifth largest bank headquartered in Michigan, with numerous locations across the lower peninsula. Despite its growth, the bank has remained true to its roots, prioritizing exceptional service and value for customers, stockholders, and communities.

Independent Bank offers an extensive range of banking services tailored to both individuals and businesses. These include checking and savings accounts, commercial lending, consumer financing, mortgage lending, and safe deposit box services. The bank also boasts advanced internet and mobile banking capabilities, ensuring customers have access to their finances at their fingertips.

Recent achievements highlight Independent Bank's robust financial health and commitment to growth. For the first nine months of 2023, the bank reported a net interest income of $116.2 million, marking a 6.7% increase from the same period in 2022. This growth reflects an improved net interest margin, which rose to 3.28% in 2023 from 3.25% in 2022. Moreover, the bank maintains a strong asset quality, with a detailed breakdown of non-performing loans by type available for transparency.

Independent Bank is not just about numbers; it is deeply embedded in the community. The bank supports numerous local causes, with employees actively engaging in human services agencies, arts and cultural organizations, schools, and places of worship. This community-first approach underscores the bank's philosophy of being friends and neighbors invested in the same way as their customers.

Financially, the bank is on solid ground. As of March 31, 2024, Independent Bank had substantial liquidity, including unused credit lines with the FHLB and FRB amounting to over $1.568 billion. Additionally, the bank had approximately $811.3 million in unpledged securities, providing further borrowing capacity if needed.

Visit Independent Bank to learn more about their services and commitment to the community.

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Independent Bank Corporation declares quarterly cash dividend on common stock
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Independent Bank Corporation (NASDAQ: IBCP) to release 2023 Q3 results on October 24, 2023. Conference call for investors and analysts at 11:00 am ET. Playback available until October 31, 2023.
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Independent Bank Corporation announces quarterly cash dividend on its common stock
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Independent Bank Corporation (NASDAQ: IBCP) reported a first quarter net income of $13.0 million ($0.61 per diluted share), down from $18.0 million ($0.84 per diluted share) year-over-year. Key highlights include a 9.1% annualized growth in deposits ($93.1 million), a 16.5% increase in net interest income to $38.4 million, and loan growth of $44.5 million (5.2% annualized). The company declared a dividend of 23 cents per share on February 24, 2023. Total assets rose to $5.14 billion, with non-performing loans at 0.11% of total portfolio loans. Operating expenses slightly decreased to $31.0 million, fueled by lower compensation costs. The company remains committed to enhancing efficiency and growing market share, maintaining a strong capital position with well-capitalized regulatory ratios.

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Independent Bank Corporation (NASDAQ: IBCP), a Michigan-based bank holding company, announced a quarterly cash dividend of 23 cents per share, payable on May 15, 2023. Shareholders of record by May 5, 2023 will receive this dividend. With total assets of approximately $5.0 billion, Independent Bank operates across Michigan’s Lower Peninsula, offering a comprehensive range of financial services, including commercial banking, mortgage lending, investments, and insurance. The bank has been dedicated to providing exceptional service and value to its customers and shareholders since its inception in 1864.

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Independent Bank Corporation (NASDAQ: IBCP) will release its 2023 first quarter results on April 27, 2023, at 8:00 am ET. The report will be accessible on their website under the 'Investor Relations' section. Following the announcement, a conference call for investors and analysts will be held at 11:00 am ET, led by CEO Brad Kessel, CFO Gavin Mohr, and EVP Commercial Banking Joel Rahn. Interested participants can join the call by dialing 1-833-470-1428 or via audio webcast. A playback of the call will be available until May 4, 2023. Independent Bank Corporation operates a network across Michigan with total assets of around $5 billion.

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Independent Bank Corporation (NASDAQ: IBCP) declared a quarterly cash dividend of 23 cents per share, marking a 5% increase from 2022 levels. The dividend will be paid on February 24, 2023 to shareholders recorded by February 16, 2023. This is the tenth consecutive annual dividend increase, indicative of the company's strong capital position and positive future outlook. President and CEO William B. Kessel highlighted the sustained operating performance as a key factor in this decision. Independent Bank Corporation operates a community banking network across Michigan, with total assets of approximately $5 billion.

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Independent Bank Corporation (NASDAQ: IBCP) reported a robust fourth quarter for 2022, achieving a net income of $15.1 million ($0.71 per diluted share), up 20.6% from the previous year. The company also saw a 22.4% rise in diluted EPS. Key figures include a commercial loan growth of $58.6 million (16.5% annualized) and an 18.4% increase in net interest income compared to Q4 2021. The bank declared a dividend of 22 cents per share on November 14, 2022. Despite challenges in mortgage banking, total assets grew to $5 billion, with a strong balance sheet supported by a well-capitalized subsidiary.

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FAQ

What is the current stock price of Independent Bank (IBCP)?

The current stock price of Independent Bank (IBCP) is $35.28 as of December 24, 2024.

What is the market cap of Independent Bank (IBCP)?

The market cap of Independent Bank (IBCP) is approximately 737.1M.

What services does Independent Bank Corp. offer?

Independent Bank Corp. offers checking and savings accounts, commercial lending, consumer financing, mortgage lending, and safe deposit box services.

How long has Independent Bank been in operation?

Independent Bank has been serving customers for over 150 years, since its founding in 1864.

Where is Independent Bank Corp. headquartered?

Independent Bank Corp. is headquartered in Michigan.

How is Independent Bank involved in the community?

The bank supports local causes and its employees engage in various community services like human services agencies, arts and cultural organizations, and schools.

What recent financial achievements has Independent Bank reported?

For the first nine months of 2023, Independent Bank reported a net interest income of $116.2 million, a 6.7% increase from 2022.

What kind of online services does Independent Bank provide?

Independent Bank offers advanced internet and mobile banking capabilities for easy access to financial services.

What is the net interest margin of Independent Bank Corp. for 2023?

The net interest margin for the first nine months of 2023 was 3.28%.

What is the liquidity status of Independent Bank Corp.?

As of March 31, 2024, the bank had unused credit lines with the FHLB and FRB totaling over $1.568 billion and approximately $811.3 million in unpledged securities.

How does Independent Bank support its customers?

Independent Bank is committed to providing exceptional service and valuable financial products tailored to the needs of individuals, families, and businesses.

Where can I learn more about Independent Bank's products and services?

You can visit Independent Bank's website at independentbank.com for more information.

Independent Bank Corp.

Nasdaq:IBCP

IBCP Rankings

IBCP Stock Data

737.14M
19.94M
4.56%
86.61%
1%
Banks - Regional
State Commercial Banks
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United States of America
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