Company Profile
- Independent Bank Corporation (NASDAQ: IBCP), based in Grand Rapids, Michigan, offers a broad range of commercial banking, mortgage banking, consumer lending, and investment and title services largely throughout suburban and rural markets in Central and Lower Michigan. A complement to its traditional banking activities, IBCP’s wealth management division held over $500 million in AUM. The state-charted subsidiary, Independent Bank ("the bank"), with origins spanning over 150 years, operates 56 branches and six LPOs, including five in MI and one in OH.
- IBCP’s franchise growth over time has largely been organic (previous bank acquisition completed in 2018) with contemporary growth strategies centered around C&I growth.
- IBCP’s loan portfolio mix is diverse, and comparatively less commercial-centric, with residential mortgages historically representing nearly 40% of total HFI loans. To a lesser, although still meaningful extent, consumer…