IBCP Q3 2023 Earnings — Independent Bank Corporation Revenue & Financial Results | Market Cap Arena

IBCPIndependent Bank Corporation

$704M

Q3 2023 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$76M+27.2% YoY

Gross Profit

$52M67.5% margin

Operating Income

$22M28.3% margin

Net Income

$18M23.0% margin

EPS (Diluted)

$0.83

QoQ Revenue Growth

+6.8%

Cash Flow

Operating Cash Flow

$26M

Free Cash Flow

$24M

Stock-Based Comp.

$624,000

Balance Sheet

Total Assets

$5.2B

Total Liabilities

$4.8B

Stockholders' Equity

$375M

Cash & Equivalents

$127M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$76M	$60M	+27.2%
Gross Profit	$52M	$52M	+0.1%
Operating Income	$22M	$21M	+1.9%
Net Income	$18M	$17M	+1.4%

Revenue Segments

Interchange Income

$4M30%

Service Charges On Deposits

$3M24%

Overdraft Fees

$2M15%

Account Service Charges

$1M8%

Investment And Insurance Commissions

$876,0006%

Other Deposit Related Income

$826,0006%

Asset Management Revenue

$488,0004%

ATM Fees

$457,0003%

Transaction Based Revenue

$388,0003%

Other

$247,0002%