IBCP Q1 2022 Earnings — Independent Bank Corporation Revenue & Financial Results | Market Cap Arena

IBCPIndependent Bank Corporation

$704M

Q1 2022 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$52M-9.2% YoY

Gross Profit

$52M100.4% margin

Operating Income

$22M42.3% margin

Net Income

$18M34.5% margin

EPS (Diluted)

$0.84

QoQ Revenue Growth

+4.0%

Cash Flow

Operating Cash Flow

$39M

Free Cash Flow

$36M

Stock-Based Comp.

$511,000

Balance Sheet

Total Assets

$4.8B

Total Liabilities

$4.4B

Stockholders' Equity

$355M

Cash & Equivalents

$110M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$52M	$57M	-9.2%
Gross Profit	$52M	$56M	-6.0%
Operating Income	$22M	$27M	-18.7%
Net Income	$18M	$22M	-18.5%

Revenue Segments

Interchange Income

$3M27%

Service Charges on Deposits

$3M26%

Overdraft Fees

$3M22%

Investment and Insurance Commissions

$738,0006%

Other Deposit Related Income

$622,0005%

Asset Management Revenue

$469,0004%

Account Service Charges

$321,0003%

ATM Fees

$277,0002%

Transaction Based Revenue

$269,0002%

Other

$251,0002%