INDEPENDENT BANK CORP /MI/
IBCP · State Commercial Banks · 20.6M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $3M (gross $5M, SBC $2M)
Reference price $35.42 · est. market cap ~$730M — last insider sale, 2026-06-09 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B76Independent Bank (MI) — small bank with strong returns and earnings rebound.
Strengths
- ROE 13.6% (89th), ROA (73rd)
- Net income up sharply (96th)
Risks
- Michigan regional concentration
- Sub-scale
- Rate sensitivity
Notable findings
- Strong balance sheetStrong balance sheet — $138M cash & investments
- Buying back stockNet buyback — share count -2%/yr over 4y
- Insider sellingInsider selling — 6 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Net margin
213.7%
Return on equity
13.6%
Return on assets
1.2%
Revenue growth (QoQ)
-4.4%
Net-income growth
2.6%
Free cash flow
$70M
Tangible book value
$474M
Cash & investments
$138M
Stock comp / revenue
8.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-09 | Ervin Patrick J | Sell | 780 | $35.42 |
| 2026-06-09 | Ervin Patrick J | Sell | 242 | $35.41 |
| 2026-06-09 | Ervin Patrick J | Sell | 76 | $35.40 |
| 2026-06-09 | Ervin Patrick J | Sell | 2 | $35.44 |
| 2026-06-09 | Ervin Patrick J | Sell | 1.4K | $35.39 |
| 2026-05-29 | Kimball Stefanie M | Sell | 1.4K | $34.41 |
| 2026-04-06 | Mohr Gavin A. | Option exercise | 4.3K | — |
| 2026-04-06 | Mohr Gavin A. | Tax withheld | 1.7K | $33.78 |
| 2026-04-06 | Ervin Patrick J | Tax withheld | 1.8K | $33.78 |
| 2026-04-06 | Kimball Stefanie M | Tax withheld | 1.7K | $33.78 |
| 2026-04-06 | Kessel William B | Option exercise | 11K | — |
| 2026-04-06 | Kessel William B | Tax withheld | 4.8K | $33.78 |
| 2026-04-06 | Mohr Gavin A. | Tax withheld | 1.7K | $33.78 |
| 2026-04-06 | Ervin Patrick J | Option exercise | 4.3K | — |
| 2026-04-06 | Ervin Patrick J | Tax withheld | 1.8K | $33.78 |
| 2026-04-06 | Kimball Stefanie M | Option exercise | 4.3K | — |
| 2026-04-06 | Kimball Stefanie M | Tax withheld | 1.7K | $33.78 |
| 2026-04-06 | RAHN JOEL F | Option exercise | 4.2K | — |
| 2026-04-06 | RAHN JOEL F | Tax withheld | 1.3K | $33.78 |
| 2026-04-01 | Boer William J | Grant | 309 | $33.30 |
| 2026-02-24 | Kruse Ronia F | Buy | 1.2K | $35.27 |
| 2026-02-06 | RAHN JOEL F | Tax withheld | 873 | $36.60 |
| 2026-02-06 | Stodolak Michael Joseph | Tax withheld | 350 | $36.60 |
| 2026-02-06 | Kreter Kristopher | Tax withheld | 94 | $36.60 |
| 2026-02-06 | Mohr Gavin A. | Tax withheld | 1.1K | $36.60 |
| 2026-02-06 | Daniel Larry R Jr | Tax withheld | 851 | $36.60 |
| 2026-02-06 | Ervin Patrick J | Tax withheld | 1.2K | $36.60 |
| 2026-02-06 | Kimball Stefanie M | Tax withheld | 1.1K | $36.60 |
| 2026-02-06 | Kessel William B | Tax withheld | 2.9K | $36.60 |
| 2026-02-06 | TWAROZYNSKI JAMES J | Tax withheld | 383 | $36.60 |
| 2026-02-06 | MICHAELS CHRISTOPHER S | Tax withheld | 439 | $36.60 |
| 2026-02-03 | Stodolak Michael Joseph | Grant | 1.5K | — |
| 2026-02-03 | Kreter Kristopher | Grant | 358 | — |
| 2026-02-03 | Mohr Gavin A. | Grant | 2.0K | — |
| 2026-02-03 | Ervin Patrick J | Grant | 1.7K | — |
| 2026-02-03 | Kimball Stefanie M | Grant | 1.8K | — |
| 2026-02-03 | RAHN JOEL F | Grant | 1.9K | — |
| 2026-02-03 | Kessel William B | Grant | 6.1K | — |
| 2026-02-03 | TWAROZYNSKI JAMES J | Grant | 631 | — |
| 2026-02-03 | MICHAELS CHRISTOPHER S | Grant | 1.8K | — |
| 2026-01-01 | Boer William J | Grant | 331 | $32.53 |
| 2025-12-12 | Ervin Patrick J | Sell | 3.0K | $34.64 |
| 2025-11-21 | Archer Dennis W. Jr | Buy | 212 | $31.57 |
| 2025-11-21 | Archer Dennis W. Jr | Buy | 288 | $31.58 |
| 2025-11-21 | TWAROZYNSKI JAMES J | Sell | 486 | $31.64 |
| 2025-10-01 | Boer William J | Grant | 348 | $30.98 |
| 2025-09-03 | Kimball Stefanie M | Sell | 1.4K | $32.64 |
| 2025-09-01 | Kreter Kristopher | Tax withheld | 618 | $32.89 |
| 2025-08-05 | Mohr Gavin A. | Buy | 2.0K | $29.64 |
| 2025-07-01 | Boer William J | Grant | 332 | $32.41 |
| 2025-06-13 | Beia Terance L | Buy | 1.8K | $30.65 |
| 2025-04-29 | MAGEE MICHAEL M JR | Sell | 39 | $31.02 |
| 2025-04-29 | MAGEE MICHAEL M JR | Sell | 246 | $31.01 |
| 2025-04-29 | MAGEE MICHAEL M JR | Sell | 6.1K | $31.00 |
| 2025-04-01 | Boer William J | Grant | 350 | $30.79 |
| 2025-02-19 | MICHAELS CHRISTOPHER S | Option exercise | 358 | — |
| 2025-02-19 | MICHAELS CHRISTOPHER S | Tax withheld | 157 | $34.76 |
| 2025-02-19 | RAHN JOEL F | Option exercise | 3.7K | — |
| 2025-02-19 | RAHN JOEL F | Tax withheld | 1.2K | $34.76 |
| 2025-02-19 | Ervin Patrick J | Option exercise | 3.8K | — |
| 2025-02-19 | Ervin Patrick J | Tax withheld | 1.6K | $34.76 |
| 2025-02-19 | Kimball Stefanie M | Option exercise | 3.9K | — |
| 2025-02-19 | Kimball Stefanie M | Tax withheld | 1.7K | $34.76 |
| 2025-02-19 | Mohr Gavin A. | Option exercise | 3.9K | — |
| 2025-02-19 | Mohr Gavin A. | Tax withheld | 1.6K | $34.76 |
| 2025-02-19 | Daniel Larry R Jr | Option exercise | 3.6K | — |
| 2025-02-19 | Daniel Larry R Jr | Tax withheld | 1.1K | $34.76 |
| 2025-02-19 | Kessel William B | Option exercise | 9.1K | — |
| 2025-02-19 | Kessel William B | Tax withheld | 4.0K | $34.76 |
| 2025-02-19 | TWAROZYNSKI JAMES J | Option exercise | 323 | — |
| 2025-02-19 | TWAROZYNSKI JAMES J | Tax withheld | 142 | $34.76 |
| 2025-02-04 | Kreter Kristopher | Grant | 190 | — |
| 2025-02-04 | TWAROZYNSKI JAMES J | Grant | 613 | — |
| 2025-02-04 | MICHAELS CHRISTOPHER S | Grant | 1.6K | — |
| 2025-02-04 | Kimball Stefanie M | Grant | 1.8K | — |
| 2025-02-04 | Mohr Gavin A. | Grant | 1.9K | — |
| 2025-02-04 | RAHN JOEL F | Grant | 1.8K | — |
| 2025-02-04 | Daniel Larry R Jr | Grant | 1.7K | — |
| 2025-02-04 | Ervin Patrick J | Grant | 1.7K | — |
| 2025-02-04 | Kessel William B | Grant | 5.8K | — |
| 2025-01-25 | Kreter Kristopher | Tax withheld | 84 | $35.60 |
| 2025-01-25 | TWAROZYNSKI JAMES J | Tax withheld | 238 | $35.60 |
| 2025-01-25 | MICHAELS CHRISTOPHER S | Tax withheld | 265 | $35.60 |
| 2025-01-25 | RAHN JOEL F | Tax withheld | 752 | $35.60 |
| 2025-01-25 | Mohr Gavin A. | Tax withheld | 1.0K | $35.60 |
| 2025-01-25 | Kimball Stefanie M | Tax withheld | 1.0K | $35.60 |
| 2025-01-25 | Ervin Patrick J | Tax withheld | 1.5K | $35.60 |
| 2025-01-25 | Daniel Larry R Jr | Tax withheld | 726 | $35.60 |
| 2025-01-25 | Kessel William B | Tax withheld | 2.4K | $35.60 |
| 2025-01-01 | Boer William J | Grant | 266 | $34.83 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
- Cetera Investment Services LLC
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-18 | 2026-06-17 | 0000039311-26-000053 ↗ |
| 8-K | 2026-06-12 | 2026-06-11 | 0000039311-26-000051 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0000039311-26-000048 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0000039311-26-000046 ↗ |
| 8-K | 2026-04-24 | 2026-04-21 | 0000039311-26-000044 ↗ |
| 8-K | 2026-04-23 | 2026-04-23 | 0000039311-26-000042 ↗ |
| 8-K | 2026-04-21 | 2026-04-21 | 0000039311-26-000039 ↗ |
| 8-K | 2026-03-18 | 2026-03-18 | 0000039311-26-000020 ↗ |
| 10-K | 2026-03-06 | 2025-12-31 | 0000039311-26-000009 ↗ |
| 8-K | 2026-01-22 | 2026-01-22 | 0000039311-26-000004 ↗ |
| 8-K | 2025-12-19 | 2025-12-16 | 0000039311-25-000105 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0000039311-25-000103 ↗ |