Last $11.90 USD
Change Today -0.04 / -0.34%
Volume 93.7K
IBCP On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GS
As of 8:10 PM 10/22/14 All times are local (Market data is delayed by at least 15 minutes).

independent bank corp - mich (IBCP) Snapshot

Open
$11.95
Previous Close
$11.94
Day High
$12.03
Day Low
$11.85
52 Week High
01/13/14 - $14.25
52 Week Low
10/30/13 - $8.66
Market Cap
273.0M
Average Volume 10 Days
88.6K
EPS TTM
$0.77
Shares Outstanding
22.9M
EX-Date
08/1/14
P/E TM
15.5x
Dividend
$0.24
Dividend Yield
2.02%
Current Stock Chart for INDEPENDENT BANK CORP - MICH (IBCP)

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independent bank corp - mich (IBCP) Details

Independent Bank Corporation operates as the bank holding company for Independent Bank that provides various banking services to individuals and businesses in Michigan. It offers checking and savings accounts, non-interest bearing demand deposits, NOW accounts, and time deposits; and mortgage, commercial, and installment loans, as well as direct and indirect consumer financing; and safe deposit box services. The company also acquires and services payment plans used by consumers to purchase vehicle service contracts. In addition, it provides title insurance services, and investment and insurance services. The company offers its services through approximately 70 branches, 2 drive-thru facilities, and 5 loan production offices. Independent Bank Corporation was founded in 1864 and is based in Ionia, Michigan.

723 Employees
Last Reported Date: 03/7/14
Founded in 1864

independent bank corp - mich (IBCP) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $466.0K
Executive Chairman and Chairman of Independen...
Total Annual Compensation: $250.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $284.6K
Executive Vice President of Retail Banking, C...
Total Annual Compensation: $280.5K
Eecutive Vice President and General Counsel
Total Annual Compensation: $284.6K
Compensation as of Fiscal Year 2013.

independent bank corp - mich (IBCP) Key Developments

Independent Bank Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Loan Net Charge-Offs for the Second Quarter Ended June 30, 2014

Independent Bank Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total interest income of $20,357,000 against $21,862,000 a year ago. Net interest income was $18,538,000 against $19,523,000 a year ago. Income before income tax was $7,899,000 against $6,899,000 a year ago. Net income applicable to common stock was $6,052,000 or $0.26 per diluted share against $62,231,000 or $2.64 per diluted share a year ago. The decrease in net interest income is due to the decline in the net interest margin, which reflects a change in asset mix, as higher yielding loans decreased and lower yielding investment securities increased from year ago levels. For the six months, the company reported total interest income of $40,640,000 against $43,812,000 a year ago. Net interest income was $37,016,000 against $39,079,000 a year ago. Income before income tax was $12,504,000 against $12,741,000 a year ago. Net income applicable to common stock was $9,190,000 or $0.39 per diluted share against $66,943,000 or $2.90 per diluted share a year ago. The reasons for the decline in net interest income for the first six months of 2014 are generally consistent with those described above for the comparative year-over-year quarterly periods. For the quarter, the company’s loan net charge-offs were $0.4 million (0.12% annualized of average loans) compared to $1.9 million (0.54% annualized of average loans) in the second quarter of 2013.

Independent Bank Corporation Announces Quarterly Cash Dividend Payable on Aug. 15, 2014

Independent Bank Corporation announced that its board of directors declared a quarterly cash dividend on its common stock of six cents per share. This dividend is payable on Aug. 15, 2014 to shareholders of record on Aug. 5, 2014.

Independent Bank Corporation(NasdaqGS:IBCP) added to Russell 2000 Index

Independent Bank Corporation will be added to the Russell 2000 Index.

 

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IBCP

Industry Average

Valuation IBCP Industry Range
Price/Earnings 10.6x
Price/Sales 2.4x
Price/Book 1.1x
Price/Cash Flow 15.6x
TEV/Sales 0.7x
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