Vitals
  • Total Assets
    2.5B 5.8 %
  • Total Deposits
    2.2B 6.6 %
  • Total Net Loans
    1.7B 8.9 %
  • Net Income
    23.8M 13.0 %
  • Book Value
    258.8M -0.4 %
  • Book Value x2
    517.6M -0.4 %
  • Book Value x3
    776.4M -0.4 %
ROAA

.965

ROAE

9.229

Efficiency Ratio

72.668

Net Interest Margin

3.609

Balance Sheet Highlights
Financial Highlights Independent Bank All Insured Commercial Banks in Michigan
Balance Sheet $(000)
Total Assets 2,537,351 330,697
Total Net Loans 1,656,343 227,599
Total Deposits 2,245,262 278,247
Total Equity 258,814 33,935
Profitability
Net Income 23,754 3,589
Return on Average Assets .965 .954
Return on Average Equity 9.229 8.772
Net Interest Margin 3.609 3.821
Efficiency Ratio 72.668 71.925
Noninterest Income/Revenue 31.683 24.061
Balance Sheet Ratios
Loan-to-Deposit 73.771 76.845
Securities/Assets .241 .16
Total Equity/Total Assets .102 .103
Tangible Equity/Tangible Assets .096 .098
Capital Adequacy
Tier 1 Common Capital 249,971 32,553
Tier 1 Capital 249,971 32,664
Tier 2 Capital 20,884 2,479
Total Capital 270,855 35,133
Total Risk Weighted Assets 1,802,790 242,208
Leverage Ratio 9.9 10.341
Common Equity Tier 1 Capital Ratio 13.87 15.339
Tier 1 Capital Ratio 13.87 15.393
Total Capital Ratio 15.02 16.423

Timeline for Independent Bank

Independent Mortgage Company

Acquisition: Independent Bank acquired a new subsidiary, Independent Mortgage Company , 13 years

View Profile Dec 01 2010

Independent Bank-West Michigan

Acquisition: Independent Bank acquired a new subsidiary, Independent Bank-West Michigan, 16 years

View Profile Sep 15 2007

Independent Bank East Michigan

Acquisition: Independent Bank acquired a new subsidiary, Independent Bank East Michigan, 16 years

View Profile Sep 15 2007

Independent Bank - South Michigan

Acquisition: Independent Bank acquired a new subsidiary, Independent Bank - South Michigan, 16 years

View Profile Sep 15 2007

First National Bank Of Gaylord

Acquisition: Independent Bank acquired a new subsidiary, First National Bank Of Gaylord, 19 years

View Profile Jul 01 2004

Want to see more?

Complete timeline for Independent Bank is available.

View Complete Timeline
Acquisitions & Mergers Role Assets Acct Method Type Transaction Date
Independent Mortgage Company Seller Pooling of Interests Discontinued 12/1/2010
Independent Bank-West Michigan Seller 769,303 Pooling of Interests Discontinued 9/15/2007
Independent Bank East Michigan Seller 695,545 Pooling of Interests Discontinued 9/15/2007
Independent Bank - South Michigan Seller 539,806 Pooling of Interests Discontinued 9/15/2007
First National Bank Of Gaylord Seller 154,904 Acquisition Discontinued 7/1/2004
Independent Bank Seller 470,678 Pooling of Interests Discontinued 9/15/2001
Peoples Savings And Loan Association Of Battle Creek Seller 97,144 Discontinued 12/1/1985
Relationships Role Relationship Start Relationship End
Independent Bank Corporation Parent 9/16/1999
Ibc Financial Services, Inc. Subsidary 6/30/2007
Independent Title Services, Inc. Subsidary 9/15/2007
Mepco Finance Corporation Subsidary 6/30/2007
Independent Mortgage Company Subsidary 6/30/2007 11/30/2010
Independent Title Services, Inc. Subsidary 9/15/2001 9/14/2007
First Home Financial, Inc. Subsidary 9/15/2001 6/30/2007
Ibc Financial Services, Inc. Subsidary 9/15/2001 6/29/2007
Independent Mortgage Company Subsidary 9/15/2001 6/29/2007
Mepco Finance Corporation Subsidary 4/15/2003 6/29/2007
First Of Gaylord Financial Services, Inc. Subsidary 7/1/2004 7/22/2004
Msb Investment And Insurance Services, Inc. Subsidary 9/16/1999 9/13/2001
Msb Service Corporation Subsidary 9/16/1999 12/30/2000
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