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
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1091196571558486
Cash and cash equivalents1091196570558386
Short-term investments   0000
Total current assets:1091196571558486
Noncurrent Assets
Operating lease, right-of-use asset688
Property, plant and equipment36363839394043
Intangible assets, net (including goodwill)32333435222
Goodwill28282828   
Intangible assets, net (excluding goodwill)3456222
Deferred income tax assets  2
Total noncurrent assets:75768273414245
Other undisclosed assets4,5214,0093,4173,2092,6932,4232,278
TOTAL ASSETS:4,7054,2043,5653,3532,7892,5492,409
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities4,3063,8143,2153,0142,5242,3002,158
Total liabilities:4,3063,8143,2153,0142,5242,3002,158
Stockholders' equity
Stockholders' equity attributable to parent398390350339265249251
Common stock323339352377325324339
Accumulated other comprehensive income (loss)110(4)(10)(6)(9)(6)
Retained earnings (accumulated deficit)75402(28)(54)(66)(82)
Total stockholders' equity:398390350339265249251
TOTAL LIABILITIES AND EQUITY:4,7054,2043,5653,3532,7892,5492,409

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues17420216913111310296
Gain on disposition of assets for financial service operations366320 
Net investment income138140149131988781
Financial services revenue141615
Cost of revenue (12)(1)(2)(1)  
Provision for loan, lease, and other losses (12)(1)(2)
Financial services costs(1)  
Gross profit:17419016812911110296
Operating expenses(16)(16)(16)(19)(70)(64)(64)
Other operating income, net
(Noninterest Income, Other Operating Income)
9899878
Operating income:167181161119504540
Nonoperating income (expense) (0)01100
Investment income, nonoperating    010
Gains (losses) on sales of other real estate (0)011(0)0
Interest and debt expense(8)(16)(26)(17)(9)(7)(6)
Other undisclosed loss from continuing operations before equity method investments, income taxes (95)(77)(53)(3)(6)(5)
Income from continuing operations before equity method investments, income taxes:159695849383329
Other undisclosed loss from continuing operations before income taxes(82)      
Income from continuing operations before income taxes:77695849383329
Income tax expense(14)(13)(11)(9)(18)(10)(9)
Net income available to common stockholders, diluted:63564640202320

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:63564640202320
Other comprehensive income (loss)(10)(3)(2)13(3)(0)
Comprehensive income:53534441232020
Other undisclosed comprehensive income (loss), net of tax, attributable to parent 178(5)   
Comprehensive income, net of tax, attributable to parent:53705336232020

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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