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IBCP Q1 2023 Earnings — Independent Bank Corporation Revenue & Financial Results | Market Cap Arena
IBCP
Independent Bank Corporation
$704M
Q1 2023 Earnings
Financial Services
Banks - Regional
Income Statement
Revenue
$63M
+20.6% YoY
Gross Profit
$46M
72.6% margin
Operating Income
$16M
25.3% margin
Net Income
$13M
20.7% margin
EPS (Diluted)
$0.61
QoQ Revenue Growth
+3.5%
Cash Flow
Operating Cash Flow
$23M
Free Cash Flow
$22M
Stock-Based Comp.
$569,000
Balance Sheet
Total Assets
$5.1B
Total Liabilities
$4.8B
Stockholders' Equity
$368M
Cash & Equivalents
$227M
Year-over-Year Comparison
Metric
Current
Year Ago
Change
Revenue
$63M
$52M
+20.6%
Gross Profit
$46M
$52M
-12.7%
Operating Income
$16M
$22M
-28.1%
Net Income
$13M
$18M
-27.7%
Revenue Segments
Interchange Income
$3M
27%
Service Charges On Deposits
$3M
24%
Overdraft Fees
$2M
19%
Investment And Insurance Commissions
$827,000
7%
Other Deposit Related Income
$676,000
6%
Account Service Charges
$467,000
4%
Asset Management Revenue
$442,000
4%
Transaction Based Revenue
$385,000
3%
ATM Fees
$329,000
3%
Other
$247,000
2%
← FY 2023
All Quarters
Q2 2023 →