IBCP Q2 2024 Earnings — Independent Bank Corporation Revenue & Financial Results | Market Cap Arena

IBCPIndependent Bank Corporation

$704M

Q2 2024 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$80M+11.4% YoY

Gross Profit

$55M68.8% margin

Operating Income

$23M29.0% margin

Net Income

$19M23.2% margin

EPS (Diluted)

$0.88

QoQ Revenue Growth

+4.7%

Cash Flow

Operating Cash Flow

$9M

Free Cash Flow

$7M

Stock-Based Comp.

$579,000

Balance Sheet

Total Assets

$5.3B

Total Liabilities

$4.8B

Stockholders' Equity

$430M

Cash & Equivalents

$214M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$80M	$72M	+11.4%
Gross Profit	$55M	$49M	+13.0%
Operating Income	$23M	$18M	+27.3%
Net Income	$19M	$15M	+25.3%

Revenue Segments

Interchange Income

$3M28%

Service Charges On Deposits

$3M24%

Overdraft Fees

$2M18%

Investment And Insurance Commissions

$838,0007%

Other Deposit Related Income

$720,0006%

Account Service Charges

$621,0005%

Asset Management Revenue

$497,0004%

ATM Fees

$412,0003%

Transaction Based Revenue

$341,0003%

Other

$186,0002%