INDEPENDENT BANK CORP /MI/ (IBCP)

Independent Bank Corp. operates as a bank holding company, which engages in the provision of financial services. It offers commercial banking, mortgage lending, investments, and title services. The company was founded in 1864 and is headquartered in Grand Rapids, MI.

Address

4200 E BELTLINE AVE
GRAND RAPIDS, MI 49525

Founded

1864

Number of Employees

832

Website

http://www.independentbank.com

Buyback

Buyback Data 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Average
$ Amount Purchased
($ in 000s)		 $964 $15,250 $18,117 $1,177 $14,703 $28,383 $15,856 $19,134 $5,779 $6,916 $2,088 $11,670
Average Price $13.32 $13.92 $14.63 $21.80 $21.79 $21.88 $20.23 $21.12 $22.65 $18.38 $25.06 $18.78
# Shares Purchased 72,365 1,095,391 1,238,768 54,004 674,710 1,297,017 783,826 906,028 255,165 376,199 83,323 621,527
Buyback Performance 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Average
Total Return to Date 147.8% 137.0% 125.6% 51.4% 51.4% 50.8% 63.1% 56.3% 45.7% 79.5% 31.7% 75.8%
S&P 500 Return to Date 181.9% 173.0% 168.6% 129.7% 104.9% 93.1% 74.8% 31.7% 37.3% 31.3% 7.4% 94.0%
Excess Total Return -34.1% -35.9% -43.0% -78.3% -53.4% -42.3% -11.7% 24.6% 8.4% 48.2% 24.3% -18.2%
Quartile Rank
Percentile Rank 67% 67% 65% 56% 59% 60% 61% 80% 78% 93% 90% 79%
Buyback returns calculated using weighted average buyback price over the last 10 years and comparing to current day stock price value. S&P 500 used as benchmark for excess return.

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