Independent Bank Corporation (IBCP) financial statements (2022 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)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments109126691311194756
Cash and cash equivalents109126691311194756
Total current assets:109126691311194756
Noncurrent Assets
Operating lease, right-of-use asset6777877
Property, plant and equipment36373737363737
Intangible assets, net (including goodwill)32323232333333
Goodwill28282828282828
Intangible assets, net (excluding goodwill)3444455
Deferred income tax assets     22
Total noncurrent assets:75757676767880
Other undisclosed assets4,5214,4214,3164,2204,0094,0453,908
TOTAL ASSETS:4,7054,6224,4614,4264,2044,1694,043
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities4,3064,2224,0654,0393,8143,7963,688
Total liabilities:4,3064,2224,0654,0393,8143,7963,688
Stockholders' equity
Stockholders' equity attributable to parent398400396387390373355
Common stock323326332336339339339
Accumulated other comprehensive income17841064
Retained earnings75675547402812
Total stockholders' equity:398400396387390373355
TOTAL LIABILITIES AND EQUITY:4,7054,6224,4614,4264,2044,1694,043

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

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
Revenues42444345515551
Gain on disposition of assets for financial service operations68913162018
Net investment income36363333353534
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
    0(1)(5)
Gross profit:42444345525446
Operating expenses(4)(4)(4)(4)(4)(4)(4)
Other operating income, net
(Noninterest Income, Other Operating Income)
3322222
Operating income:40434143495244
Nonoperating expense    (0)  
Interest and debt expense(2)(2)(2)(2)(4)(3)(3)
Other undisclosed loss from continuing operations before equity method investments, income taxes   (14)(24)(25)(22)
Income from continuing operations before equity method investments, income taxes:38413927212418
Other undisclosed loss from continuing operations before income taxes(23)(21)(24)    
Income from continuing operations before income taxes:15201527212418
Income tax expense(3)(4)(3)(5)(4)(5)(4)
Net income available to common stockholders, diluted:13161222172015

Comprehensive Income ($ in millions)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
Net income:13161222172015
Other comprehensive income (loss)(7)(1)4(6)(13)28
Comprehensive income:615161642223
Other undisclosed comprehensive income, net of tax, attributable to parent    1700
Comprehensive income, net of tax, attributable to parent:6151616212223

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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