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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments657155848674119
Cash and cash equivalents657055838674119
Short-term investments 00000 
Total current assets:657155848674119
Noncurrent Assets
Operating lease, right-of-use asset8
Property, plant and equipment38393940434649
Intangible assets, net (including goodwill)343522233
Goodwill2828     
Intangible assets, net (excluding goodwill)5622233
Deferred income tax assets2
Total noncurrent assets:82734142454952
Other undisclosed assets3,4173,2092,6932,4232,2782,1262,039
TOTAL ASSETS:3,5653,3532,7892,5492,4092,2492,210
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities3,2153,0142,5242,3002,1581,9981,978
Total liabilities:3,2153,0142,5242,3002,1581,9981,978
Stockholders' equity
Stockholders' equity attributable to parent350339265249251250232
Common stock352377325324339352351
Accumulated other comprehensive loss(4)(10)(6)(9)(6)(6)(9)
Retained earnings (accumulated deficit)2(28)(54)(66)(82)(96)(110)
Total stockholders' equity:350339265249251250232
TOTAL LIABILITIES AND EQUITY:3,5653,3532,7892,5492,4092,2492,210

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues1691311131029696 
Net investment income14913198878181 
Financial services revenue14161515 
Cost of revenue(1)(2)(1)    
Provision for loan, lease, and other losses(1)(2)
Financial services costs(1)    
Gross profit:1681291111029696 
Operating expenses(16)(19)(70)(64)(64)(66)(55)
Other operating income, net
(Noninterest Income, Other Operating Income)
9987899
Operating income (loss):16111950454039(42)
Nonoperating income (expense)011002(1)
Investment income, nonoperating  01000
Gains (losses) on sales of other real estate011(0)01(1)
Bank owned life insurance income     1 
Interest and debt expense(26)(17)(9)(7)(6)(7)(9)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(77)(53)(3)(6)(5)(9)75
Income from continuing operations before income taxes:58493833292523
Income tax expense (benefit)(11)(9)(18)(10)(9)(7)55
Net income attributable to parent:46402023201878
Preferred stock dividends and other adjustments      (3)
Other undisclosed net income available to common stockholders, basic      8
Net income available to common stockholders, basic:46402023201882
Other undisclosed net loss available to common stockholders, diluted      (5)
Net income available to common stockholders, diluted:46402023201878

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:46402023201878
Other comprehensive income (loss)(2)13(3)(0)4(1)
Comprehensive income:44412320202276
Other undisclosed comprehensive income (loss), net of tax, attributable to parent8(5)     
Comprehensive income, net of tax, attributable to parent:53362320202276

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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