Loading...
Docoh

Independent Bank Corporation (IBCP)

Independent Bank Corporation is a Michigan-based bank holding company with total assets of approximately $4.2 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan's Lower Peninsula through one state-chartered bank subsidiary. This subsidiary (Independent Bank) provides a full range of financial services, including commercial banking, mortgage lending, investments and insurance. Independent Bank Corporation is committed to providing exceptional personal service and value to its customers, stockholders and the communities it serves.

Company profile

Ticker
IBCP
Exchange
CEO
William Bradford Kessel
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Subsidiaries
INDEPENDENT BANK CORPORATION • IBC Capital Finance • IB Advisory Services, Inc. • IB Insurance Services, Inc. • Independent Title Services, Inc. ...
IRS number
382032782

IBCP stock data

Calendar

5 Aug 22
20 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 59.49M 59.49M 59.49M 59.49M 59.49M 59.49M
Cash burn (monthly) 16.78M 814K (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 28.28M 1.37M n/a n/a n/a n/a
Cash remaining 31.21M 58.11M n/a n/a n/a n/a
Runway (months of cash) 1.9 71.4 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
28 Jul 22 James J Twarozynski Common Stock Sell Dispose S No No 20.5 183 3.75K 8,409
28 Jul 22 James J Twarozynski Common Stock Sell Dispose S No No 20.49 1,000 20.49K 8,592
28 Jul 22 James J Twarozynski Common Stock Sell Dispose S No No 20.48 91 1.86K 9,592
28 Jul 22 James J Twarozynski Common Stock Sell Dispose S No No 20.46 60 1.23K 9,683
28 Jul 22 James J Twarozynski Common Stock Sell Dispose S No No 20.45 1,166 23.84K 9,743
28 Jul 22 James J Twarozynski Common Stock Option exercise Acquire M No No 2.7 2,500 6.75K 10,909
28 Jul 22 James J Twarozynski NQSO Common Stock Option exercise Dispose M No No 2.7 2,500 6.75K 0
1 Jul 22 Boer William J Common Stock Grant Acquire A No No 19.28 427 8.23K 22,949.68
1 Jul 22 Budden Joan A Phantom Stock Units Common Stock Grant Acquire A No No 17.35 950.9 16.5K 25,869.35
17 May 22 Kimball Stefanie M Common Stock Sell Dispose S No No 19.53 95 1.86K 59,882
79.4% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 121 129 -6.2%
Opened positions 10 15 -33.3%
Closed positions 18 10 +80.0%
Increased positions 40 42 -4.8%
Reduced positions 50 51 -2.0%
13F shares Current Prev Q Change
Total value 321.99M 372.15M -13.5%
Total shares 16.72M 16.9M -1.1%
Total puts 7.7K 7.7K
Total calls 0 0
Total put/call ratio Infinity Infinity NaN%
Largest owners Shares Value Change
BLK Blackrock 3.03M $58.35M +10.8%
FJ Capital Management 1.33M $25.66M -11.2%
Vanguard 1.06M $20.4M -0.8%
Dimensional Fund Advisors 781.47K $15.07M +10.8%
LSV Asset Management 698.27K $13.46M -1.1%
Renaissance Technologies 685.6K $13.22M -9.7%
STT State Street 619.55K $11.95M -15.1%
FMR 542.84K $10.47M +0.1%
Manufacturers Life Insurance Company, The 519.29K $10.01M -1.4%
JPM JPMorgan Chase & Co. 500.82K $9.66M +0.5%
Largest transactions Shares Bought/sold Change
BLK Blackrock 3.03M +295.18K +10.8%
FJ Capital Management 1.33M -167.64K -11.2%
Parametric Portfolio Associates 0 -136.21K EXIT
IVZ Invesco 51.33K -129.22K -71.6%
STT State Street 619.55K -110.06K -15.1%
GS Goldman Sachs 302.22K +92.45K +44.1%
Deprince Race & Zollo 58.13K -92.35K -61.4%
MS Morgan Stanley 218.18K +86.96K +66.3%
Dimensional Fund Advisors 781.47K +76.16K +10.8%
Renaissance Technologies 685.6K -73.6K -9.7%

Financial report summary

?
Competition
Veritex
Risks
  • The ongoing COVID-19 pandemic and measures intended to prevent its spread could have a material adverse effect on our business, results of operations and financial condition, and such effects will depend on future developments, which remain highly uncertain and difficult to predict.
  • Downturns in general political, economic or industry conditions, either domestically or internationally, would have an adverse effect on our financial condition and performance.
  • Governmental monetary and fiscal policies may adversely affect the financial services industry and therefore impact our financial condition and results of operations.
  • Volatility and disruptions in global capital and credit markets may adversely impact our business, financial condition and results of operations.
  • The soundness of other financial institutions could adversely affect us.
  • Changes in regulation or oversight may have a material adverse impact on our operations.
  • We are subject to liquidity risk in our operations, which could adversely impact our ability to fund various obligations.
  • Operational difficulties, failure of technology infrastructure or information security incidents could adversely affect our business and operations.
  • Changes in the financial markets, including fluctuations in interest rates and their impact on deposit pricing, could adversely affect our net interest income and financial condition.
  • Legal and regulatory proceedings and related matters with respect to the financial services industry, including those directly involving us, could adversely affect us or the financial services industry in general.
  • Methods of reducing risk exposures might not be effective.
  • We have credit risk inherent in our loan portfolios, and our allowance for credit losses may not be sufficient to cover actual credit losses.
  • We have credit risk in our securities portfolio.
  • Our mortgage-banking revenues are susceptible to substantial variations, due in part to factors we do not control, such as market interest rates.
  • Our parent company must rely on dividends or returns of capital from our bank for most of its cash flow.
  • Any future strategic acquisitions or divestitures may present certain risks to our business and operations.
  • Compliance with capital requirements may adversely affect us.
  • Declines in the businesses or industries of our customers could cause increased credit losses, which could adversely affect us.
  • The introduction, implementation, withdrawal, success and timing of business initiatives and strategies may be less successful or may be different than anticipated, which could adversely affect our business.
  • We may not be able to utilize technology to efficiently and effectively develop, market, and deliver new products and services to our customers.
  • Competitive product and pricing pressures among financial institutions within our markets may change.
  • Changes in customer behavior may adversely impact our business, financial condition and results of operations.
  • Our ability to maintain and expand customer relationships may differ from expectations.
  • Our ability to retain key officers and employees may change.
  • Catastrophic events, including, but not limited to, hurricanes, tornadoes, earthquakes, fires, floods and pandemic outbreaks may adversely affect the general economy, financial and capital markets, specific industries, and us.
  • Our failure to appropriately apply certain critical accounting policies could result in our misstatement of our financial results and condition.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: analyze, bond, cautiously, combat, conflict, contra, deducted, deferral, energy, evolve, exceeded, explicit, fluid, heightened, HTM, imposition, indirect, layer, Moody, multiple, speed, target, uncollectible, unknown, war, wider
Removed: Aid, audit, clarifying, declared, emergency, enacted, enrolled, expanding, exposed, feature, foresee, home, ineligibility, intending, lowering, merchant, noted, outlined, periodically, predetermined, quickly, regulated, reopened, satisfactory, schedule, simplified, stay, stimulate, termination, upfront, variability, yielding