IBCP Q2 2023 Earnings — Independent Bank Corporation Revenue & Financial Results | Market Cap Arena

IBCPIndependent Bank Corporation

$704M

Q2 2023 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$72M+40.1% YoY

Gross Profit

$49M67.8% margin

Operating Income

$18M25.4% margin

Net Income

$15M20.7% margin

EPS (Diluted)

$0.70

QoQ Revenue Growth

+13.9%

Cash Flow

Operating Cash Flow

$10M

Free Cash Flow

$8M

Stock-Based Comp.

$477,000

Balance Sheet

Total Assets

$5.1B

Total Liabilities

$4.8B

Stockholders' Equity

$375M

Cash & Equivalents

$129M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$72M	$51M	+40.1%
Gross Profit	$49M	$46M	+6.1%
Operating Income	$18M	$16M	+14.6%
Net Income	$15M	$13M	+13.8%

Revenue Segments

Interchange Income

$3M27%

Service Charges On Deposits

$3M25%

Overdraft Fees

$2M19%

Other Deposit Related Income

$836,0007%

Investment And Insurance Commissions

$743,0006%

Account Service Charges

$589,0005%

Asset Management Revenue

$459,0004%

ATM Fees

$449,0004%

Transaction Based Revenue

$284,0002%

Other

$262,0002%