IBCP Q1 2024 Earnings — Independent Bank Corporation Revenue & Financial Results | Market Cap Arena

IBCPIndependent Bank Corporation

$704M

Q1 2024 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$76M+21.2% YoY

Gross Profit

$51M67.1% margin

Operating Income

$20M26.0% margin

Net Income

$16M21.0% margin

EPS (Diluted)

$0.76

QoQ Revenue Growth

+4.5%

Cash Flow

Operating Cash Flow

$21M

Free Cash Flow

$20M

Stock-Based Comp.

$591,000

Balance Sheet

Total Assets

$5.2B

Total Liabilities

$4.8B

Stockholders' Equity

$416M

Cash & Equivalents

$162M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$76M	$63M	+21.2%
Gross Profit	$51M	$46M	+12.0%
Operating Income	$20M	$16M	+24.9%
Net Income	$16M	$13M	+23.1%

Revenue Segments

Interchange Income

$3M27%

Service Charges On Deposits

$3M24%

Overdraft Fees

$2M19%

Investment And Insurance Commissions

$804,0007%

Other Deposit Related Income

$748,0006%

Account Service Charges

$573,0005%

Asset Management Revenue

$493,0004%

ATM Fees

$383,0003%

Transaction Based Revenue

$311,0003%

Other

$250,0002%