Independent Bank Corporation (IBCP) financial statements (2021 and earlier)

Company profile

Business Address 4200 E BELTLINE AVE
GRAND RAPIDS, MI 49525
State of Incorp. MI
Fiscal Year End December 31
SIC 6022 - State Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments119657155848674
Cash and cash equivalents119657055838674
Short-term investments  00000
Total current assets:119657155848674
Noncurrent Assets
Operating lease, right-of-use asset88
Property, plant and equipment36383939404346
Intangible assets, net (including goodwill)3334352223
Goodwill282828    
Intangible assets, net (excluding goodwill)4562223
Deferred income tax assets 2
Total noncurrent assets:76827341424549
Other undisclosed assets4,0093,4173,2092,6932,4232,2782,126
TOTAL ASSETS:4,2043,5653,3532,7892,5492,4092,249
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities3,8143,2153,0142,5242,3002,1581,998
Total liabilities:3,8143,2153,0142,5242,3002,1581,998
Stockholders' equity
Stockholders' equity attributable to parent390350339265249251250
Common stock339352377325324339352
Accumulated other comprehensive income (loss)10(4)(10)(6)(9)(6)(6)
Retained earnings (accumulated deficit)402(28)(54)(66)(82)(96)
Total stockholders' equity:390350339265249251250
TOTAL LIABILITIES AND EQUITY:4,2043,5653,3532,7892,5492,4092,249

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues2021691311131029696
Gain on disposition of assets for financial service operations6320 
Net investment income14014913198878181
Financial services revenue14161515
Cost of revenue(12)(1)(2)(1)   
Provision for loan, lease, and other losses(12)(1)(2)
Financial services costs(1)   
Gross profit:1901681291111029696
Operating expenses(16)(16)(19)(70)(64)(64)(66)
Other operating income, net
(Noninterest Income, Other Operating Income)
8998789
Operating income:18116111950454039
Nonoperating income (expense)(0)011002
Investment income, nonoperating   0100
Gains (losses) on sales of other real estate(0)011(0)01
Bank owned life insurance income      1
Interest and debt expense(16)(26)(17)(9)(7)(6)(7)
Other undisclosed loss from continuing operations before equity method investments, income taxes(95)(77)(53)(3)(6)(5)(9)
Income from continuing operations before income taxes:69584938332925
Income tax expense(13)(11)(9)(18)(10)(9)(7)
Net income available to common stockholders, diluted:56464020232018

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:56464020232018
Other comprehensive income (loss)(3)(2)13(3)(0)4
Comprehensive income:53444123202022
Other undisclosed comprehensive income (loss), net of tax, attributable to parent178(5)    
Comprehensive income, net of tax, attributable to parent:70533623202022

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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