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Independent Bank Corp. IBCP · Stock Open Independent Bank Corp. in new tab

35.57 USD
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P/E
10.21
EPS
3.45
Yield
3.07%
Safety Score
84
P/B
1.37
ROE
14.38
Beta
0.70
Target Price
40.40 USD
Independent Bank Corp. logo

Independent Bank Corp.

🧾 Earnings Recap – Q1 2026

Independent Bank’s Q1 2026 profit grew modestly to $16.9 million, driven by improved net interest margin and core deposit growth, demonstrating solid execution amid ongoing economic uncertainties.

  • Net interest income increased 1.1% sequentially, supported by a 3.65% net interest margin uptick of 3 basis points.
  • Total deposits grew by $80.4 million to $4.9 billion, with strong growth in business and retail segments.
  • Commercial loan balances expanded $31.8 million (3% annualized), with a focus on manufacturing and industrial real estate segments.
  • Credit quality remains sound, with nonperforming loans at 64 basis points and minimal net charge-offs of $266,000.
  • The upcoming merger with HCB Financial is viewed as a value-enhancing growth catalyst.
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1M 6M YTD 1Y 2Y 5Y Max
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Key Metrics
Earnings dateOct. 27, 2026
P/E10.21
EPS3.45
Book Value25.65
Price to Book1.37
% Insiders4.748%
Growth
Revenue Growth0.11%
Earnings Growth0.11%
Estimates
Forward P/E9.08
Forward EPS3.88
Target Mean Price40.40
Dividend
Dividend Yield3.07%
Annual dividends1.10 USD
Ex-Div. DateAug. 4, 2026
Payout31.08%
5y avg Yield3.97%

DCF Valuation

Tweak assumptions to recompute fair value for Independent Bank Corp. (IBCP)
Currency: USD
DCF Assumptions
Decimal (e.g., 0.10 = 10%). Range allows declines (−50%) to strong growth (+50%).
Decimal (e.g., 0.30 = 30%).
Decimal (e.g., 0.04 = 4%).
Decimal (e.g., 0.20 = 20%).
Percent number (e.g., 3 = 3%).
Percent number (e.g., 10 = 10%).
Percent number (e.g., 5 = 5%).
DCF Result
Fair Value (DCF)
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Current Price
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Upside
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WACC
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Terminal PV
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Σ PV of FCFs
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Note: historical bars show reported FCF (for context); forward bars show PV of projected FCF; if no per-year data, totals are shown.

Independent Bank Corp. Logo Independent Bank Corp. Analysis (IBCP)

United States Financials Official Website Stock

Is Independent Bank Corp. a good investment? Independent Bank Corp. (IBCP) is currently trading at 35.57 USD. Market analysts have a consensus price target of 40.40 USD. This suggests a potential upside from current levels.

In terms of valuation, the stock trades at a P/E ratio of 10.21. This relatively low multiple may signal that Independent Bank Corp. is undervalued compared to historical market norms.

Earnings Schedule: Independent Bank Corp. is expected to release its next earnings report on Oct. 27, 2026. The market consensus estimate for Forward EPS is 3.88.

For income investors, Independent Bank Corp. pays a dividend yield of 3.07%. With a payout ratio of 31%, the dividend appears sustainable.

Investor FAQ

Does Independent Bank Corp. pay a dividend?

Yes, it pays an annual dividend of 1.10 USD (3.07% yield).

What asset class is Independent Bank Corp.?

Independent Bank Corp. is classified as a Stock. You can compare it against its peer in the "Related Symbols" list.

When is the next earnings date?

The next earnings date is projected to be Oct. 27, 2026. The company currently has a trailing EPS of 3.45.

Company Profile

Independent Bank Corporation operates as the bank holding company for Independent Bank that provides banking services in the United States. The company offers demand deposits, interest checking, money market accounts, savings accounts, and time certificates of deposit, including free checking accounts. It also provides consumer loans that consists of real estate loans comprising residential mortgages and home equity loans and lines, all secured by one-to-four family residential properties, as well as other consumer loans; and investment and financial services. In addition, the company offers cash management; investment management and trust services; additional services, such as estate settlement, financial planning, tax services, and other special services; sale of mutual fund shares, unit investment trust shares, third party model portfolios, general securities, and fixed and variable annuities, as well as life insurance products; debit and credit card; safe deposit box services; automatic teller machines; and internet and mobile banking services. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.

Exchange Ticker
NMS (United States) IBCP
Trades
Dividend Yield
3.07%
5y avg 3.97%
Annual Dividends
1.10USD
Next Ex. Div Date
Aug. 4, 2026
Payout Ratio
31.08%
Dividend History paid per year (USD)
Historical Dividends
Year Total Dividends
▸2027
0.88 USD
Aug. 16, 2027 (estimated) 0.2931
May 17, 2027 (estimated) 0.2931
Feb. 15, 2027 (estimated) 0.2931
▸2026
1.11 USD
Nov. 16, 2026 (estimated) 0.2721
Aug. 14, 2026 0.2800
May 14, 2026 0.2800
Feb. 13, 2026 0.2800
▸2025
1.04 USD
Nov. 14, 2025 0.2600
Aug. 15, 2025 0.2600
May 15, 2025 0.2600
Feb. 14, 2025 0.2600
▸2024
0.96 USD
Nov. 15, 2024 0.2400
Aug. 15, 2024 0.2400
May 13, 2024 0.2400
Feb. 15, 2024 0.2400
▸2023
0.92 USD
Nov. 13, 2023 0.2300
Aug. 14, 2023 0.2300
May 15, 2023 0.2300
Feb. 24, 2023 0.2300
▸2022
0.88 USD
Nov. 14, 2022 0.2200
Aug. 16, 2022 0.2200
May 16, 2022 0.2200
Feb. 15, 2022 0.2200
▸2021
0.84 USD
Nov. 15, 2021 0.2100
Aug. 16, 2021 0.2100
May 14, 2021 0.2100
Feb. 16, 2021 0.2100
▸2020
0.80 USD
Nov. 16, 2020 0.2000
Aug. 14, 2020 0.2000
May 15, 2020 0.2000
Feb. 14, 2020 0.2000
▸2019
0.72 USD
Nov. 15, 2019 0.1800
Aug. 15, 2019 0.1800
May 15, 2019 0.1800
Feb. 15, 2019 0.1800
▸2018
0.60 USD
Nov. 15, 2018 0.1500
Aug. 15, 2018 0.1500
May 15, 2018 0.1500
Feb. 15, 2018 0.1500
▸2017
0.42 USD
Nov. 15, 2017 0.1200
Aug. 15, 2017 0.1000
May 15, 2017 0.1000
Feb. 15, 2017 0.1000
▸2016
0.34 USD
Nov. 15, 2016 0.1000
Aug. 15, 2016 0.0800
May 16, 2016 0.0800
Feb. 16, 2016 0.0800
▸2015
0.26 USD
Nov. 16, 2015 0.0800
Aug. 17, 2015 0.0600
May 15, 2015 0.0600
Feb. 17, 2015 0.0600
▸2014
0.18 USD
Nov. 17, 2014 0.0600
Aug. 15, 2014 0.0600
May 15, 2014 0.0600
▸2009
0.44 USD
Oct. 30, 2009 0.1000
Oct. 30, 2009 0.0100
July 31, 2009 0.0100
July 31, 2009 0.1000
April 30, 2009 0.1000
April 30, 2009 0.0100
Jan. 30, 2009 0.1000
Jan. 30, 2009 0.0100
▸2008
3.74 USD
Oct. 31, 2008 0.0100
Oct. 31, 2008 0.1000
July 31, 2008 0.1000
July 31, 2008 0.0100
April 30, 2008 1.1000
April 30, 2008 0.1100
Jan. 31, 2008 2.1000
Jan. 31, 2008 0.2100
▸2007
9.13 USD
Oct. 31, 2007 2.1000
Oct. 31, 2007 0.2100
July 31, 2007 0.2100
July 31, 2007 2.1000
April 30, 2007 2.1000
April 30, 2007 0.2100
Jan. 31, 2007 2.0000
Jan. 31, 2007 0.2000
▸2006
8.30 USD
Oct. 31, 2006 0.1900
Oct. 31, 2006 1.9000
July 31, 2006 0.2000
July 31, 2006 1.9048
April 28, 2006 1.9048
April 28, 2006 0.2000
Jan. 31, 2006 1.8095
Jan. 31, 2006 0.1900
▸2005
7.54 USD
Oct. 31, 2005 1.8095
Oct. 31, 2005 0.1900
July 29, 2005 1.7234
July 29, 2005 0.1900
April 29, 2005 0.1901
April 29, 2005 1.7234
Jan. 31, 2005 1.5420
Jan. 31, 2005 0.1700
▸2004
4.95 USD
Oct. 29, 2004 1.5420
Oct. 29, 2004 0.1700
July 30, 2004 1.4512
July 30, 2004 0.1600
April 30, 2004 0.0176
Jan. 30, 2004 1.4512
Jan. 30, 2004 0.1600
▸2003
5.68 USD
Oct. 31, 2003 0.1600
Oct. 31, 2003 1.4512
July 31, 2003 0.1601
July 31, 2003 1.3193
April 30, 2003 0.1400
April 30, 2003 1.1544
Jan. 31, 2003 0.1400
Jan. 31, 2003 1.1544
▸2002
4.54 USD
Oct. 31, 2002 0.9895
Oct. 31, 2002 0.1800
July 31, 2002 0.9424
July 31, 2002 0.1800
April 30, 2002 0.1800
April 30, 2002 0.9424
Jan. 31, 2002 0.9424
Jan. 31, 2002 0.1800
▸2001
3.81 USD
Oct. 31, 2001 0.8377
Oct. 31, 2001 0.1600
July 31, 2001 0.7978
July 31, 2001 0.1600
April 30, 2001 0.1600
April 30, 2001 0.7978
Jan. 31, 2001 0.7479
Jan. 31, 2001 0.1500
▸2000
3.43 USD
Oct. 31, 2000 0.1500
Oct. 31, 2000 0.7479
July 28, 2000 0.1500
July 28, 2000 0.7123
April 28, 2000 0.7123
April 28, 2000 0.1500
Jan. 31, 2000 0.6648
Jan. 31, 2000 0.1400
▸1999
3.07 USD
Oct. 31, 1999 0.6648
Oct. 31, 1999 0.1402
July 30, 1999 0.1400
July 30, 1999 0.6332
April 30, 1999 0.6332
April 30, 1999 0.1400
Jan. 29, 1999 0.1300
Jan. 29, 1999 0.5879
▸1998
2.00 USD
Oct. 1, 1998 0.0287
July 31, 1998 0.1300
July 31, 1998 0.3733
April 30, 1998 0.5599
April 30, 1998 0.1950
Jan. 30, 1998 0.1850
Jan. 30, 1998 0.5312
▸1997
1.84 USD
Oct. 31, 1997 0.1761
Oct. 31, 1997 0.5312
July 31, 1997 0.1849
July 31, 1997 0.5059
April 30, 1997 0.1850
Jan. 31, 1997 0.2600
▸1996
1.02 USD
Oct. 31, 1996 0.2600
July 31, 1996 0.2600
April 30, 1996 0.2600
Jan. 31, 1996 0.2400
▸1995
0.92 USD
Oct. 31, 1995 0.2400
July 31, 1995 0.2400
April 28, 1995 0.2400
Jan. 31, 1995 0.2000
▸1994
0.75 USD
Oct. 31, 1994 0.2000
July 29, 1994 0.2000
April 29, 1994 0.2000
Jan. 31, 1994 0.1500
▸1993
0.58 USD
Oct. 29, 1993 0.1500
July 30, 1993 0.1500
April 30, 1993 0.1500
Jan. 29, 1993 0.1300
▸1992
0.51 USD
Oct. 30, 1992 0.1300
July 31, 1992 0.1300
April 30, 1992 0.1300
Jan. 31, 1992 0.1150
▸1991
0.34 USD
Oct. 31, 1991 0.1150
July 31, 1991 0.1150
April 1, 1991 0.1149
▸1990
0.51 USD
Dec. 28, 1990 0.0662
Oct. 31, 1990 0.1095
July 31, 1990 0.1100
April 30, 1990 0.1100
Jan. 31, 1990 0.1100
▸1989
0.43 USD
Oct. 31, 1989 0.1095
July 31, 1989 0.1095
April 28, 1989 0.1095
Jan. 31, 1989 0.0998
▸1988
0.43 USD
Oct. 31, 1988 0.1312
July 30, 1988 0.0998
April 30, 1988 0.0998
Jan. 30, 1988 0.0998
▸1987
0.43 USD
Oct. 20, 1987 0.1312
July 20, 1987 0.0998
April 20, 1987 0.0998
Jan. 20, 1987 0.0998
▸1986
0.20 USD
Oct. 6, 1986 0.0150
July 3, 1986 0.0603
April 4, 1986 0.0603
Jan. 6, 1986 0.0603
▸1985
0.01 USD
Oct. 4, 1985 0.0117
Upcoming Dividends
Name Payment Date Status Amount
Independent Bank Corp. Aug 14, 2026 0.28 USD
Independent Bank Corp. May 14, 2026 0.28 USD
Independent Bank Corp. Feb 13, 2026 0.28 USD
Independent Bank Corp. Nov 14, 2025 0.26 USD
Stock Splits
Split Date Split Ratio to 1
Oct. 3, 1995 1.05
Oct. 2, 1996 1.05
May 1, 1997 1.5
Oct. 1, 1997 1.05
July 1, 1998 1.5
Oct. 1, 1998 1.05
Oct. 1, 1999 1.05
Oct. 3, 2000 1.05
Oct. 3, 2001 1.05
Oct. 2, 2002 1.05
Jan. 2, 2003 1.5
Oct. 2, 2003 1.1
Sept. 1, 2005 1.05
Aug. 31, 2006 1.05
Sept. 1, 2010 1:10
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