Vitals
  • Total Assets
    769.3M 5.6 %
  • Total Deposits
    655.7M 0.6 %
  • Total Net Loans
    645.8M 5.5 %
  • Net Income
    2.1M -67.9 %
  • Book Value
    60.7M -1.6 %
  • Book Value x2
    121.4M -1.6 %
  • Book Value x3
    182.1M -1.6 %
ROAA

.549

ROAE

6.715

Efficiency Ratio

58.575

Net Interest Margin

4.757

Balance Sheet Highlights
Financial Highlights Independent Bank-West Michigan All Insured Commercial Banks in Michigan
Balance Sheet $(000)
Total Assets 769,303 236,129
Total Net Loans 645,834 191,008
Total Deposits 655,699 191,913
Total Equity 60,712 24,192
Profitability
Net Income 2,103 8,375
Return on Average Assets .549 1.249
Return on Average Equity 6.715 9.191
Net Interest Margin 4.757 4.037
Efficiency Ratio 58.575 69.92
Noninterest Income/Revenue 20.997 11.957
Balance Sheet Ratios
Loan-to-Deposit 98.496 91.779
Securities/Assets .072 .912
Total Equity/Total Assets .079 .102
Tangible Equity/Tangible Assets .066 -.333
Capital Adequacy
Tier 1 Common Capital — —
Tier 1 Capital 57,130 22,103
Tier 2 Capital 8,262 2,702
Total Capital 65,392 24,212
Total Risk Weighted Assets 644,741 182,532
Leverage Ratio 7.47 10.398
Common Equity Tier 1 Capital Ratio — —
Tier 1 Capital Ratio 8.86 14.235
Total Capital Ratio 10.14 15.4

Timeline for Independent Bank-West Michigan

Independent Bank

Independent Bank-West Michigan was acquired by Independent Bank 16 years

View Profile Sep 15 2007

Ibc Financial Services West Michigan Inc.

Ibc Financial Services West Michigan Inc. became a new subsidiary organization for Independent Bank-West Michigan.

View Profile Apr 28 2003

Independent Mortgage Company-West Michigan

Independent Mortgage Company-West Michigan became a new subsidiary organization for Independent Bank-West Michigan.

View Profile May 01 1998

Independent Title Services, Inc.

Independent Title Services, Inc. became a new subsidiary organization for Independent Bank-West Michigan.

View Profile Aug 26 1996

The Morley State Bank

Acquisition: Independent Bank-West Michigan acquired a new subsidiary, The Morley State Bank, 36 years

View Profile Dec 30 1987

Want to see more?

Complete timeline for Independent Bank-West Michigan is available.

View Complete Timeline
Acquisitions & Mergers Role Assets Acct Method Type Transaction Date
Independent Bank Buyer 2,526,827 Pooling of Interests Discontinued 9/15/2007
The Morley State Bank Seller 2,238 Discontinued 12/30/1987
The First State Bank Of Newaygo Seller 17,653 Discontinued 5/20/1985
Western State Bank Seller 30,319 Discontinued 5/20/1985
Relationships Role Relationship Start Relationship End
Independent Bank Corporation Parent 8/21/1975 9/14/2007
Independent Title Services, Inc. Subsidary 8/26/1996 9/14/2007
Independent Mortgage Company-West Michigan Subsidary 6/30/2007 9/14/2007
Ibc Financial Services West Michigan Inc. Subsidary 6/30/2007 9/14/2007
Independent Mortgage Company-West Michigan Subsidary 5/1/1998 6/29/2007
Ibc Financial Services West Michigan Inc. Subsidary 4/28/2003 6/29/2007
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