IBCP Q1 2023 Earnings — Independent Bank Corporation Revenue & Financial Results | Market Cap Arena

IBCPIndependent Bank Corporation

$704M

Q1 2023 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$63M+20.6% YoY

Gross Profit

$46M72.6% margin

Operating Income

$16M25.3% margin

Net Income

$13M20.7% 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

$3M27%

Service Charges On Deposits

$3M24%

Overdraft Fees

$2M19%

Investment And Insurance Commissions

$827,0007%

Other Deposit Related Income

$676,0006%

Account Service Charges

$467,0004%

Asset Management Revenue

$442,0004%

Transaction Based Revenue

$385,0003%

ATM Fees

$329,0003%

Other

$247,0002%