36.99
+1.87%
Close of 9 Nov 2026, in USD
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About Independent Bank Corp (Michigan)
From its filings with the US Securities and Exchange Commission
Independent Bank Corp (Michigan) is based in Grand Rapids, Michigan and is incorporated in Michigan. Its shares trade on Nasdaq under the ticker IBCP. The SEC classifies its business as state commercial banks. In the fiscal year to 31 December 2025, it reported revenue of $32.1m and net income of $68.5m. At that date it held total assets of $5.51bn and shareholders' equity of $503.0m. By business, Interchange Income brought in 43.2% of revenue, followed by Service Charges on Deposit Accounts at 37.5% and Investment and Insurance Commissions at 10.9%.
Independent Bank Corporation was incorporated under the laws of the State of Michigan on September 17, 1973, for the purpose of becoming a bank holding company. We are registered under the Bank Holding Company Act of 1956, as amended, and own all of the outstanding stock of Independent Bank (the "bank"), which is also organized under the laws of the State of Michigan. The bank was founded as First National Bank in Ionia in 1864. Over the years, we have grown both organically and as the result of acquisitions of community banks, bank branches, and other organizations within the financial services industry. Our most recent acquisition was our acquisition of Traverse City State Bank in April 2018.
Aside from the stock of our bank, we have no other substantial assets. We conduct no business except for the collection of dividends or returns of capital from our bank and the payment of dividends to our shareholders and the payment of interest on subordinated debt and debentures. We have established certain employee retirement plans, including an employee stock ownership plan (ESOP) and deferred compensation plans, as well as health and other insurance programs, the cost of which is borne by our subsidiaries. We have no material patents, trademarks, licenses or franchises except the corporate charter of our bank, which permits it to engage in commercial banking pursuant to Michigan law.
Quoted from its 10-K, filed 6 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Banks
- Listed since
- 16 Jan 1984
- Employees
- 735
- Website
- ir.independentbank.com ↗
- Head office
- 98 OTTAWA AVE NW, GRAND RAPIDS, MI, 49503
- Incorporated in
- MI
- Classification
- State Commercial Banks
- Filer status
- Accelerated filer
Leadership
Pay as last reported
- Mr. Stephen GulisIndependent Chairman of the Board$94,950
- Mr. William KesselPresident, Chief Executive Officer, Director, since 2004$1.4m
- Mr. Gavin MohrChief Financial Officer, Executive Vice President, Corporate Secretary$658,704
- Mr. Christopher MichaelsExecutive Vice President, Chief Operating Officer
- Ms. Stefanie KimballExecutive Vice President, Chief Risk Officer$641,915
- Mr. Patrick ErvinExecutive Vice President - Mortgage Banking$636,805
- Mr. Joel RahnExecutive Vice President - Commercial Lending$629,175
- Mr. William BoerLead Independent Director$73,438
- Mr. Dennis ArcherIndependent Director$67,250
- Mr. Terrance BeiaIndependent Director$67,250
- Ms. Joan BuddenIndependent Director$73,438
- Mr. Michael CokIndependent Director$74,184
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 37
- Environment
- 12
- Social
- 43
- Governance
- 57
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
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Weaknesses
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Opportunities
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Threats
- Independent Bank Corp (Michigan) faces the following threats:
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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