What is Independent Bk Corp Mich's earnings per share (EPS)?

Independent Bk Corp Mich (IBCP) reported diluted earnings per share of $3.27 for fiscal year 2025. This represents a 3.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Independent Bk Corp Mich Financials

IBCP

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Independent Bk Corp Mich (IBCP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 44/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Independent Bk Corp Mich's revenue grew a modest 0.3% year-over-year to $32.1M. This slow but positive growth earns a score of 34/100.

Leverage

Independent Bk Corp Mich has elevated debt relative to equity (D/E of 9.95), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Cash Flow

100

Independent Bk Corp Mich converts 218.8% of revenue into free cash flow ($70.2M). This strong cash generation earns a score of 100/100.

Returns

Independent Bk Corp Mich's ROE of 13.6% shows moderate profitability relative to equity, earning a score of 41/100. This is down from 14.7% the prior year.

Piotroski F-Score Neutral

4/9

Independent Bk Corp Mich passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.12x

For every $1 of reported earnings, Independent Bk Corp Mich generates $1.12 in operating cash flow ($76.7M OCF vs $68.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$32.1M

YoY+0.3%

5Y CAGR+5.9%

10Y CAGR-8.8%

Independent Bk Corp Mich generated $32.1M in revenue in fiscal year 2025. This represents an increase of 0.3% from the prior year.

EBITDA

N/A

Net Income

$68.5M

YoY+2.6%

5Y CAGR+4.1%

10Y CAGR+13.1%

Independent Bk Corp Mich reported $68.5M in net income in fiscal year 2025. This represents an increase of 2.6% from the prior year.

EPS (Diluted)

$3.27

YoY+3.5%

5Y CAGR+5.3%

10Y CAGR+14.3%

Independent Bk Corp Mich earned $3.27 per diluted share (EPS) in fiscal year 2025. This represents an increase of 3.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$70.2M

YoY+27.1%

5Y CAGR+5.3%

10Y CAGR+14.3%

Independent Bk Corp Mich generated $70.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 27.1% from the prior year.

Cash & Debt

$138.4M

YoY+15.4%

5Y CAGR+3.1%

10Y CAGR+4.9%

Independent Bk Corp Mich held $138.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.04

YoY+8.3%

5Y CAGR+5.4%

10Y CAGR+14.9%

Independent Bk Corp Mich paid $1.04 per share in dividends in fiscal year 2025. This represents an increase of 8.3% from the prior year.

Shares Outstanding

21M

YoY-1.7%

5Y CAGR-1.2%

10Y CAGR-0.8%

Independent Bk Corp Mich had 21M shares outstanding in fiscal year 2025. This represents a decrease of 1.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

213.7%

YoY+4.8pp

5Y CAGR-20.0pp

10Y CAGR+188.9pp

Independent Bk Corp Mich's net profit margin was 213.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.8 percentage points from the prior year.

Return on Equity

13.6%

YoY-1.1pp

5Y CAGR-0.8pp

10Y CAGR+5.7pp

Independent Bk Corp Mich's ROE was 13.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.1 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$12.4M

5Y CAGR-2.7%

10Y CAGR-0.8%

Independent Bk Corp Mich spent $12.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$6.5M

YoY-18.3%

5Y CAGR+8.2%

10Y CAGR+4.1%

Independent Bk Corp Mich invested $6.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 18.3% from the prior year.

IBCP Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$32.1M+0.3%	$32.0M-2.8%	$32.9M+4.0%	$31.6M+8.7%	$29.1M+21.1%	$24.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$89.7M-10.7%	$100.5M+20.6%	$83.3M+328.6%	$19.4M+133.9%	$8.3M-48.7%	$16.2M
Income Tax	$12.8M-21.6%	$16.3M+11.3%	$14.6M+1.2%	$14.4M+0.1%	$14.4M+8.2%	$13.3M
Net Income	$68.5M+2.6%	$66.8M+13.1%	$59.1M-6.8%	$63.4M+0.7%	$62.9M+12.0%	$56.2M
EPS (Diluted)	$3.27+3.5%	$3.16+13.3%	$2.79-6.1%	$2.97+3.1%	$2.88+13.8%	$2.53

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$67.4M+655.9%	$8.9M+13.2%	$7.9M+7.3%	$7.3M-89.0%	$67.0M+658.0%	$8.8M+11.9%	$7.9M+4.2%	$7.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$46.4M+93.7%	$23.9M+7.5%	$22.3M-0.9%	$22.5M-47.6%	$42.9M+61.8%	$26.5M+6.0%	$25.0M+0.3%	$24.9M
Income Tax	N/A	$3.7M-3.3%	$3.8M+7.5%	$3.5M	N/A	$3.5M-24.9%	$4.6M+21.1%	$3.8M
Net Income	$18.6M+6.1%	$17.5M+3.7%	$16.9M+8.3%	$15.6M-15.6%	$18.5M+33.7%	$13.8M-25.5%	$18.5M+15.9%	$16.0M
EPS (Diluted)	$0.89+6.0%	$0.84+3.7%	$0.81+9.5%	$0.74-14.9%	$0.87+33.8%	$0.65-26.1%	$0.88+15.8%	$0.76

IBCP Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$5.5B+3.1%	$5.3B+1.4%	$5.3B+5.3%	$5.0B+6.3%	$4.7B+11.9%	$4.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$138.4M+15.4%	$119.9M-29.4%	$169.8M+128.3%	$74.4M-32.1%	$109.5M-7.8%	$118.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$28.3M0.0%	$28.3M0.0%	$28.3M0.0%	$28.3M0.0%	$28.3M0.0%	$28.3M
Total Liabilities	$5.0B+2.4%	$4.9B+0.5%	$4.9B+4.5%	$4.7B+8.0%	$4.3B+12.9%	$3.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$503.0M+10.6%	$454.7M+12.4%	$404.4M+16.4%	$347.6M-12.8%	$398.5M+2.3%	$389.5M
Retained Earnings	$252.8M+22.8%	$205.9M+29.4%	$159.1M+33.3%	$119.4M+60.0%	$74.6M+85.8%	$40.1M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$5.5B+0.2%	$5.5B+1.4%	$5.4B+1.7%	$5.3B-0.2%	$5.3B+1.5%	$5.3B-0.3%	$5.3B+0.9%	$5.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$138.4M-33.7%	$208.7M+42.8%	$146.2M+14.1%	$128.1M+6.9%	$119.9M-1.4%	$121.6M-43.3%	$214.3M+32.4%	$161.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$28.3M0.0%	$28.3M0.0%	$28.3M0.0%	$28.3M0.0%	$28.3M0.0%	$28.3M0.0%	$28.3M0.0%	$28.3M
Total Liabilities	$5.0B0.0%	$5.0B+1.1%	$4.9B+1.8%	$4.9B-0.5%	$4.9B+1.6%	$4.8B-0.8%	$4.8B+0.7%	$4.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$503.0M+2.5%	$490.7M+4.6%	$469.3M+0.4%	$467.3M+2.8%	$454.7M+0.5%	$452.4M+5.1%	$430.5M+3.6%	$415.6M
Retained Earnings	$252.8M+5.5%	$239.6M+5.3%	$227.5M+5.3%	$216.0M+4.9%	$205.9M+7.0%	$192.4M+4.8%	$183.6M+7.9%	$170.1M

IBCP Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$76.7M+21.4%	$63.2M-16.5%	$75.6M-20.1%	$94.6M-14.1%	$110.2M+87.7%	$58.7M
Capital Expenditures	$6.5M-18.3%	$8.0M+32.0%	$6.0M+6.1%	$5.7M-2.7%	$5.8M+33.2%	$4.4M
Free Cash Flow	$70.2M+27.1%	$55.2M-20.6%	$69.6M-21.8%	$89.0M-14.7%	$104.3M+92.1%	$54.3M
Investing Cash Flow	-$122.5M-3.7%	-$118.2M+27.5%	-$162.9M+61.6%	-$424.6M+24.6%	-$563.1M-1.7%	-$553.9M
Financing Cash Flow	$64.3M+1159.3%	$5.1M-97.2%	$182.8M-38.0%	$294.9M-33.5%	$443.7M-19.1%	$548.6M
Dividends Paid	$21.6M+7.8%	$20.0M+3.7%	$19.3M+4.1%	$18.6M+2.3%	$18.2M+3.0%	$17.6M
Share Buybacks	$12.4M	$0-100.0%	$5.2M+28.6%	$4.0M-76.8%	$17.3M+21.3%	$14.2M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$7.8M-57.2%	$18.2M-4.1%	$19.0M-40.2%	$31.7M+93.7%	$16.4M-4.8%	$17.2M+96.7%	$8.7M-58.0%	$20.8M
Capital Expenditures	$1.4M-13.2%	$1.7M-27.3%	$2.3M+103.1%	$1.1M-72.0%	$4.0M+168.7%	$1.5M-15.8%	$1.8M+162.3%	$676K
Free Cash Flow	$6.4M-61.6%	$16.5M-0.9%	$16.7M-45.4%	$30.6M+147.4%	$12.4M-21.3%	$15.7M+125.3%	$7.0M-65.4%	$20.2M
Investing Cash Flow	-$45.6M-373.2%	-$9.6M+86.4%	-$70.6M-2218.7%	$3.3M+103.9%	-$85.2M-26.3%	-$67.5M-500.4%	$16.9M-4.7%	$17.7M
Financing Cash Flow	-$32.5M-160.3%	$54.0M-22.6%	$69.7M+360.3%	-$26.8M-139.8%	$67.2M+258.0%	-$42.5M-258.0%	$26.9M+157.9%	-$46.5M
Dividends Paid	$5.4M-0.1%	$5.4M-0.1%	$5.4M-1.1%	$5.4M+8.7%	$5.0M-0.1%	$5.0M0.0%	$5.0M+0.4%	$5.0M
Share Buybacks	$4.7M+1029.1%	$413K-94.4%	$7.3M+22093.9%	$33K	$0	$0	$0	$0

IBCP Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	213.7%+4.8pp	208.9%+29.3pp	179.5%-20.7pp	200.2%-15.9pp	216.2%-17.6pp	233.7%
Return on Equity	13.6%-1.1pp	14.7%+0.1pp	14.6%-3.6pp	18.2%+2.4pp	15.8%+1.4pp	14.4%
Return on Assets	1.2%-0.0pp	1.3%+0.1pp	1.1%-0.1pp	1.3%-0.1pp	1.3%0.0pp	1.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	9.95-0.8	10.74-1.3	12.01-1.4	13.38+2.6	10.81+1.0	9.79
FCF Margin	218.8%+46.1pp	172.6%-38.8pp	211.4%-69.7pp	281.1%-77.4pp	358.5%+132.5pp	226.0%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	27.5%-168.7pp	196.2%-18.0pp	214.2%+1.9pp	212.3%+184.8pp	27.6%-128.7pp	156.3%-78.4pp	234.6%+23.5pp	211.1%
Return on Equity	3.7%+0.1pp	3.6%-0.0pp	3.6%+0.3pp	3.3%-0.7pp	4.1%+1.0pp	3.0%-1.2pp	4.3%+0.4pp	3.9%
Return on Assets	0.3%+0.0pp	0.3%+0.0pp	0.3%+0.0pp	0.3%-0.1pp	0.4%+0.1pp	0.3%-0.1pp	0.4%+0.0pp	0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	9.95-0.2	10.19-0.4	10.55+0.1	10.40-0.3	10.74+0.1	10.63-0.6	11.26-0.3	11.59
FCF Margin	9.4%-176.0pp	185.5%-26.4pp	211.9%-204.6pp	416.5%+398.0pp	18.4%-159.4pp	177.8%+89.5pp	88.3%-177.8pp	266.1%

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Frequently Asked Questions

What is Independent Bk Corp Mich's annual revenue?

Independent Bk Corp Mich (IBCP) reported $32.1M in total revenue for fiscal year 2025. This represents a 0.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Independent Bk Corp Mich's revenue growing?

Independent Bk Corp Mich (IBCP) revenue grew by 0.3% year-over-year, from $32.0M to $32.1M in fiscal year 2025.

Is Independent Bk Corp Mich profitable?

Yes, Independent Bk Corp Mich (IBCP) reported a net income of $68.5M in fiscal year 2025, with a net profit margin of 213.7%.

What is Independent Bk Corp Mich's net profit margin?

Independent Bk Corp Mich (IBCP) had a net profit margin of 213.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Independent Bk Corp Mich pay dividends?

Yes, Independent Bk Corp Mich (IBCP) paid $1.04 per share in dividends during fiscal year 2025.

What is Independent Bk Corp Mich's return on equity (ROE)?

Independent Bk Corp Mich (IBCP) has a return on equity of 13.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Independent Bk Corp Mich's free cash flow?

Independent Bk Corp Mich (IBCP) generated $70.2M in free cash flow during fiscal year 2025. This represents a 27.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Independent Bk Corp Mich's operating cash flow?

Independent Bk Corp Mich (IBCP) generated $76.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Independent Bk Corp Mich's total assets?

Independent Bk Corp Mich (IBCP) had $5.5B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Independent Bk Corp Mich's capital expenditures?

Independent Bk Corp Mich (IBCP) invested $6.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Independent Bk Corp Mich buy back shares?

Yes, Independent Bk Corp Mich (IBCP) spent $12.4M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Independent Bk Corp Mich have outstanding?

Independent Bk Corp Mich (IBCP) had 21M shares outstanding as of fiscal year 2025.

What is Independent Bk Corp Mich's debt-to-equity ratio?

Independent Bk Corp Mich (IBCP) had a debt-to-equity ratio of 9.95 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Independent Bk Corp Mich's return on assets (ROA)?

Independent Bk Corp Mich (IBCP) had a return on assets of 1.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Independent Bk Corp Mich's Piotroski F-Score?

Independent Bk Corp Mich (IBCP) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Independent Bk Corp Mich's earnings high quality?

Independent Bk Corp Mich (IBCP) has an earnings quality ratio of 1.12x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Independent Bk Corp Mich?

Independent Bk Corp Mich (IBCP) scores 44 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.