Independent Bank (IBCP)
Provides commercial banking, mortgage lending, investments, and title services through Independent Bank.
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Delivers commercial banking, mortgage lending, investments, and title services through a single state-chartered bank subsidiary. The franchise serves Michigan's Lower Peninsula through a network of locations and has expanded through organic growth and acquisitions.
Provides commercial banking, mortgage lending, investments, and title services through Independent Bank, its single state-chartered bank subsidiary. The franchise serves customers across Michigan's Lower Peninsula through a network of locations.
Growth has combined organic expansion with acquisitions of community banks, branches, and other financial-services organizations. The bank traces its origins to First National Bank of Ionia, founded in 1864, while the holding company was incorporated in Michigan in 1973.
Operations and employee recruiting are concentrated in the Lower Peninsula. As a bank holding company, acquisitions and certain ownership changes require Federal Reserve approval.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 27, 2026 | Piper Sandler | Reiterate | Rating: —Target: $39 | Target: $42 |
| Jul 10, 2026 | Hovde Group | Upgrade | ||
| Apr 27, 2026 | DA Davidson | Reiterate | Rating: —Target: $34 | Target: $37 |
| Jan 26, 2026 | Piper Sandler | Reiterate | Rating: —Target: $37 | Target: $39 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $558.0M · Total debt $166.9M · Total assets $5.66B · Shareholders' equity $528.4M
- Revenue
- $82.6M
- Operating income
- $22.7M
- Net income
- $18.8M
HistoryDividendAnnual yield
| Institutions | 84.21% | 18.69M shares | |
|---|---|---|---|
| 183 holders · as of Jun 30, 2026 | |||
| Insiders | 2.46% | 545.9K shares | |
| 17 holders · as of Sep 16, 2026 | |||
| Strategic holders | 5.55% | 1.23M shares | |
| 1 holder · as of Apr 15, 2025 | |||
| Other | 7.78% | 1.73M shares | |
| remainder | |||
22.20M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 13.45% | 2.98M | as of Jun 30, 2026 |
BlackRock Portfolio Management LLCStrategic | 5.55% | 1.23M | filed Apr 15, 2025 |
Dimensional Fund Advisors LPInstitution | 4.01% | 890,443 | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.96% | 879,625 | as of Jun 30, 2026 |
State Street CorpInstitution | 3.71% | 824,463 | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 15, 2026 | William B. Kessel | director, officer: President & CEO | −2,000 | $37.28 |
| Aug 19, 2026 | Kristopher Kreter | officer: First Vice Pres. & Controller | −300 | $37.11 |
| Aug 10, 2026 | James J. Twarozynski | officer: Senior Vice President | −489 | $37.67 |
| Jun 9, 2026 | Patrick J. Ervin | officer: Executive Vice President | −2,500 | $35.40 |
| May 29, 2026 | Stefanie M. Kimball | officer: Executive Vice President | −1,400 | $34.42 |
- JPMorgan Chase
Largest Michigan branch and deposit competitor
- Huntington Bancshares
Large Michigan commercial, consumer, and mortgage bank
- Flagstar Bank
Michigan deposit network with mortgage-banking overlap
- Mercantile Bank
Grand Rapids commercial-bank peer serving Michigan businesses
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Independent Bank | $35.40 | −0.61% | $734.0M | 10.4 | 9.5 | 2.3 | +17.0% |
| JPMorgan Chase | $338.06 | −0.57% | $911.03B | 14.6 | 14.0 | 3.1 | +27.8% |
| Huntington Bancshares | $15.57 | −0.80% | $31.70B | 11.7 | 9.4 | 2.2 | +47.4% |
| Flagstar Bank | $12.47 | −0.60% | $5.23B | 674.2 | 15.9 | 1.2 | +4.0% |
| Mercantile Bank | $58.95 | −0.29% | $1.02B | 10.4 | 10.7 | 2.7 | +12.9% |
| Median | 13.2 | 12.4 | 2.4 | +20.3% |