Dashboard Tools Market News Investing Ideas Pricing About Us
Sign Up
Log in
Independent Bank Corp (Michigan) banner

Independent Bank Corp (Michigan)
NASDAQ:IBCP

Watchlist Manager
Independent Bank Corp (Michigan) Logo
Independent Bank Corp (Michigan)
NASDAQ:IBCP
Watchlist
Price: 36.73 USD 1.1% Market Closed
Market Cap: $759.9m
Write Note Create Alert Ask AI
Financials Section:
Income Statement Balance Sheet Cash Flow Statement

Cash Flow Statement

Operating Cash Flow
+
3Y
-42%
5Y
+28%
10Y
+223%
Investing Cash Flow
+
3Y
+70%
5Y
+74%
10Y
-30%
Financing Cash Flow
+
3Y
-52%
5Y
-68%
10Y
+18%

Cash Flow Statement
Independent Bank Corp (Michigan)

Rotate your device to view
Cash Flow Statement
Currency: USD
Dec-2001 Mar-2002 Jun-2002 Sep-2002 Dec-2002 Mar-2003 Jun-2003 Sep-2003 Dec-2003 Mar-2004 Jun-2004 Sep-2004 Dec-2004 Mar-2005 Jun-2005 Sep-2005 Dec-2005 Mar-2006 Jun-2006 Sep-2006 Dec-2006 Mar-2007 Jun-2007 Sep-2007 Dec-2007 Mar-2008 Jun-2008 Sep-2008 Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025
Operating Cash Flow
Net Income
24
26
27
28
30
31
33
36
38
37
37
37
39
42
45
46
47
48
46
44
33
25
15
8
10
7
10
1
(92)
(111)
(119)
(132)
(90)
(85)
(72)
(61)
(17)
(10)
(18)
(16)
(20)
(9)
(5)
6
26
29
88
85
78
75
18
19
18
19
18
18
20
20
21
23
23
25
24
25
21
24
27
32
40
40
42
43
46
42
46
53
56
73
71
67
63
59
60
61
63
58
60
60
59
62
66
62
67
66
65
68
Depreciation & Amortization
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(10)
0
0
0
(13)
0
0
0
(23)
0
0
0
(43)
0
0
0
(28)
0
0
0
(11)
0
0
0
(5)
0
0
0
0
0
1
2
3
4
4
4
5
5
5
5
5
5
6
7
7
8
7
7
6
6
6
6
6
6
7
8
9
11
11
13
12
12
12
11
11
10
10
10
10
10
10
10
10
10
10
10
Change in Deffered Taxes
(1)
0
0
0
1
0
0
0
4
0
0
0
2
0
0
0
3
0
0
0
(2)
0
0
0
(6)
0
0
0
11
0
0
0
2
0
0
0
(2)
0
0
0
0
0
0
0
0
0
(58)
(59)
(58)
(55)
5
8
9
9
9
9
9
9
10
9
10
11
12
10
16
14
13
16
9
9
6
4
1
(3)
(3)
(2)
(2)
2
0
1
2
2
5
3
(0)
(1)
(2)
(2)
0
0
0
(1)
(1)
(4)
(4)
(4)
Stock-Based Compensation
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
3
3
Other Non-Cash Items
424
7
8
7
615
7
6
7
909
1
(2)
(5)
389
(8)
(9)
(12)
370
(13)
(11)
(9)
290
(6)
(6)
(9)
294
(14)
(17)
(18)
330
27
27
29
612
11
(4)
(0)
505
(21)
(2)
(4)
410
2
2
(8)
528
(7)
(4)
8
4
5
2
2
0
0
(0)
(1)
(1)
(1)
(1)
0
2
2
0
(1)
(3)
(4)
(3)
(3)
(2)
(2)
(2)
(2)
(1)
(1)
8
7
4
7
(4)
(7)
(6)
(10)
(10)
(5)
(2)
(1)
2
3
3
3
(0)
1
1
1
5
4
Cash Taxes Paid
10
10
10
14
12
11
14
12
11
11
5
5
6
9
13
16
18
15
15
15
13
13
15
11
7
8
0
1
1
1
1
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
(0)
0
0
0
0
0
0
0
1
1
1
1
1
1
2
2
2
1
0
0
3
6
10
10
7
14
16
16
24
17
14
14
9
7
10
10
14
16
16
16
15
16
14
16
16
14
Cash Interest Paid
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
38
0
0
0
19
0
0
0
11
0
0
14
16
18
20
8
7
7
7
6
6
6
6
6
6
7
7
8
9
10
12
14
17
20
23
26
27
26
23
18
17
13
12
11
8
8
8
11
18
30
47
64
79
90
99
104
104
101
95
94
Change in Working Capital
(468)
13
14
(77)
(661)
(74)
(101)
46
(820)
57
106
48
(387)
8
(7)
(12)
(371)
4
5
(0)
(284)
13
11
34
(272)
24
47
34
(183)
124
90
142
(476)
78
96
22
(462)
55
49
73
(343)
21
23
10
(520)
13
18
26
28
16
(2)
(14)
(17)
(28)
(18)
(4)
(10)
(1)
(4)
(19)
(16)
(22)
(20)
(24)
(1)
1
(5)
2
(8)
(5)
(7)
(20)
(18)
3
6
1
(8)
(21)
3
3
39
51
39
79
23
13
(4)
(13)
3
(3)
(4)
(9)
(13)
0
9
6
Cash from Operating Activities
(21)
N/A
45
N/A
47
+6%
(43)
N/A
(15)
+66%
(35)
-139%
(61)
-74%
90
N/A
132
+47%
100
-24%
145
+45%
84
-42%
43
-50%
43
+2%
30
-30%
24
-20%
48
+100%
42
-12%
43
+2%
38
-11%
27
-30%
30
+13%
17
-44%
31
+81%
13
-57%
10
-23%
34
+230%
11
-69%
43
+308%
51
+18%
9
-82%
50
+450%
4
-91%
6
+32%
22
+278%
(36)
N/A
(3)
+93%
22
N/A
27
+22%
52
+93%
35
-31%
14
-61%
20
+45%
8
-62%
29
+287%
35
+18%
43
+25%
60
+38%
52
-13%
41
-21%
24
-42%
17
-29%
13
-23%
3
-74%
13
+274%
26
+108%
23
-13%
32
+39%
31
-3%
17
-44%
24
+37%
21
-10%
22
+4%
17
-23%
39
+127%
42
+10%
39
-9%
53
+37%
45
-15%
48
+7%
46
-5%
30
-33%
35
+13%
47
+35%
65
+38%
67
+3%
59
-12%
72
+22%
81
+14%
76
-6%
110
+44%
114
+3%
105
-8%
148
+41%
95
-36%
80
-16%
67
-16%
60
-11%
76
+27%
73
-4%
72
-1%
64
-12%
63
-1%
74
+17%
84
+14%
85
+1%
Investing Cash Flow
Capital Expenditures
(6)
(6)
(8)
(9)
(10)
(10)
(8)
(8)
(7)
(9)
(11)
(11)
(12)
(11)
(11)
(13)
(14)
(16)
(16)
(15)
(13)
(11)
(9)
(10)
(10)
(10)
(9)
(8)
(8)
(9)
(10)
(9)
(8)
(6)
(5)
(5)
(5)
(4)
(4)
(4)
(3)
(5)
(4)
(4)
(5)
(5)
(6)
(7)
(8)
(7)
(6)
(5)
(4)
(4)
(5)
(5)
(4)
(4)
(4)
(3)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(3)
(4)
(5)
(5)
(5)
(5)
(4)
(6)
(6)
(6)
(6)
(6)
(6)
(5)
(6)
(5)
(6)
(6)
(6)
(5)
(5)
(5)
(8)
(8)
(9)
(9)
Other Items
(60)
(103)
(95)
(82)
(96)
(91)
(129)
(214)
(273)
(278)
(307)
(251)
(283)
(347)
(283)
(303)
(256)
(204)
(179)
(135)
(57)
380
401
440
391
5
6
69
122
103
124
99
156
287
403
445
488
386
345
275
130
14
(8)
14
(269)
(217)
(351)
(464)
(213)
(210)
(155)
(118)
(78)
(78)
(80)
(121)
(156)
(110)
(165)
(121)
(135)
(189)
(201)
(272)
(273)
(240)
(210)
(185)
(180)
(184)
(190)
(180)
(177)
(213)
(581)
(617)
(550)
(726)
(393)
(372)
(557)
(441)
(499)
(543)
(419)
(295)
(230)
(194)
(157)
(145)
(45)
(34)
(110)
(124)
(211)
(153)
Cash from Investing Activities
(66)
N/A
(109)
-64%
(104)
+4%
(92)
+12%
(106)
-15%
(100)
+5%
(137)
-36%
(222)
-62%
(281)
-27%
(287)
-2%
(318)
-11%
(261)
+18%
(295)
-13%
(358)
-21%
(295)
+18%
(316)
-7%
(270)
+14%
(219)
+19%
(196)
+11%
(150)
+23%
(70)
+53%
369
N/A
391
+6%
430
+10%
380
-12%
(4)
N/A
(3)
+35%
61
N/A
114
+86%
94
-18%
114
+22%
90
-22%
148
+65%
281
+90%
398
+42%
440
+11%
483
+10%
382
-21%
341
-11%
271
-20%
128
-53%
9
-93%
(12)
N/A
10
N/A
(274)
N/A
(222)
+19%
(357)
-61%
(471)
-32%
(221)
+53%
(217)
+2%
(161)
+26%
(123)
+24%
(82)
+33%
(83)
0%
(84)
-2%
(125)
-48%
(161)
-28%
(114)
+29%
(168)
-47%
(124)
+27%
(139)
-12%
(192)
-38%
(205)
-7%
(276)
-34%
(278)
-1%
(245)
+12%
(214)
+12%
(190)
+11%
(183)
+3%
(187)
-2%
(193)
-3%
(183)
+5%
(182)
+1%
(219)
-20%
(586)
-168%
(622)
-6%
(554)
+11%
(731)
-32%
(399)
+45%
(379)
+5%
(563)
-49%
(447)
+21%
(505)
-13%
(548)
-9%
(425)
+23%
(300)
+29%
(236)
+21%
(200)
+15%
(163)
+19%
(150)
+8%
(51)
+66%
(40)
+22%
(118)
-198%
(133)
-12%
(220)
-66%
(162)
+26%
Financing Cash Flow
Net Issuance of Common Stock
(11)
(13)
(14)
(20)
(21)
(14)
(20)
(14)
(11)
(11)
(4)
1
0
0
(4)
(5)
(11)
(21)
(17)
(19)
(11)
(8)
(8)
(5)
(6)
0
0
0
72
0
0
0
0
0
0
0
1
1
2
2
1
1
1
1
1
2
2
18
17
16
16
0
0
(1)
(4)
(9)
(13)
(28)
(25)
(21)
(17)
(1)
(1)
0
0
0
0
0
(12)
(15)
(38)
(39)
(26)
(38)
(14)
(14)
(14)
(4)
(8)
(14)
(17)
(15)
(14)
(7)
(4)
(3)
(3)
(5)
(5)
(5)
(2)
(0)
0
(0)
(7)
(8)
Net Issuance of Debt
61
109
121
113
39
37
(8)
(19)
8
(13)
67
33
97
141
67
30
(68)
(91)
(108)
(84)
(43)
(234)
(175)
(153)
(62)
249
337
285
132
(70)
(299)
(254)
(192)
(133)
(12)
(3)
(37)
(35)
(35)
(35)
0
0
0
0
0
0
0
0
(9)
(9)
4
4
(5)
(5)
(19)
(18)
0
0
0
0
0
0
0
3
7
0
4
23
(7)
0
(3)
(7)
25
31
39
21
14
8
(0)
0
0
0
1
37
61
0
(1)
(37)
(61)
(0)
0
(0)
(0)
0
(0)
(40)
Cash Paid for Dividends
(7)
(8)
(8)
(8)
(8)
(9)
(9)
(10)
(11)
(11)
(12)
(12)
(13)
(13)
(14)
(15)
(15)
(16)
(17)
(17)
(18)
(18)
(18)
(19)
(19)
(19)
(17)
(12)
(8)
(4)
(3)
(3)
(3)
0
(1)
(0)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(1)
(3)
(4)
(6)
(6)
(5)
(6)
(6)
(7)
(7)
(7)
(8)
(8)
(9)
(9)
(10)
(12)
(13)
(14)
(15)
(16)
(16)
(17)
(17)
(17)
(17)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(19)
(19)
(19)
(19)
(19)
(19)
(20)
(20)
(20)
(20)
(21)
(21)
Other
37
(26)
(27)
60
120
133
250
167
164
221
130
178
178
192
209
279
311
303
297
238
121
(39)
(219)
(284)
(300)
(340)
(348)
(331)
(375)
(139)
116
134
274
156
(130)
(149)
(348)
(353)
(369)
(368)
(209)
(59)
90
87
82
54
32
64
101
80
84
39
33
60
52
171
169
160
172
144
137
105
191
198
213
185
182
133
187
198
201
244
160
194
515
529
566
734
357
414
479
346
422
334
256
359
262
258
268
37
86
(10)
25
45
96
233
Cash from Financing Activities
79
N/A
63
-21%
72
+15%
145
+101%
130
-10%
147
+13%
213
+44%
125
-41%
150
+20%
185
+23%
181
-2%
200
+11%
263
+32%
321
+22%
259
-19%
289
+12%
217
-25%
176
-19%
155
-12%
118
-24%
49
-58%
(299)
N/A
(420)
-40%
(461)
-10%
(387)
+16%
(110)
+72%
(28)
+74%
(59)
-109%
(179)
-204%
(140)
+21%
(114)
+19%
(51)
+55%
79
N/A
21
-73%
(143)
N/A
(152)
-6%
(384)
-153%
(387)
-1%
(403)
-4%
(402)
+0%
(207)
+48%
(58)
+72%
91
N/A
87
-4%
83
-5%
56
-33%
34
-39%
82
+138%
108
+33%
87
-20%
103
+18%
41
-60%
24
-41%
49
+103%
25
-50%
139
+466%
149
+8%
125
-16%
140
+12%
115
-18%
113
-2%
96
-15%
182
+89%
192
+6%
211
+10%
175
-17%
175
0%
142
-18%
154
+8%
168
+9%
144
-14%
182
+26%
143
-22%
171
+20%
523
+206%
519
-1%
549
+6%
720
+31%
331
-54%
381
+15%
444
+16%
313
-29%
391
+25%
345
-12%
295
-15%
337
+14%
239
-29%
197
-17%
183
-7%
12
-93%
64
+434%
(30)
N/A
5
N/A
25
+385%
68
+173%
164
+143%
Change in Cash
Net Change in Cash
(8)
N/A
(1)
+83%
16
N/A
10
-34%
10
-1%
12
+20%
15
+26%
(7)
N/A
1
N/A
(3)
N/A
8
N/A
23
+195%
11
-52%
6
-45%
(6)
N/A
(3)
+56%
(5)
-104%
(1)
+77%
3
N/A
6
+117%
6
-10%
100
+1 651%
(11)
N/A
1
N/A
6
+1 140%
(104)
N/A
3
N/A
13
+327%
(22)
N/A
4
N/A
10
+130%
88
+787%
231
+163%
308
+33%
277
-10%
252
-9%
97
-62%
18
-82%
(35)
N/A
(79)
-124%
(44)
+44%
(35)
+20%
99
N/A
105
+6%
(161)
N/A
(131)
+19%
(279)
-113%
(330)
-18%
(61)
+82%
(90)
-48%
(35)
+61%
(66)
-88%
(45)
+31%
(30)
+33%
(47)
-56%
40
N/A
12
-70%
43
+264%
3
-94%
9
+246%
(3)
N/A
(75)
-2 781%
(1)
+98%
(67)
-5 038%
(29)
+57%
(28)
+4%
(1)
+96%
6
N/A
16
+182%
29
+88%
(4)
N/A
29
N/A
(5)
N/A
(1)
+74%
1
N/A
(36)
N/A
53
N/A
60
+13%
13
-78%
79
+490%
(9)
N/A
(21)
-124%
(10)
+52%
(55)
-460%
(35)
+36%
117
N/A
70
-41%
57
-19%
95
+68%
(65)
N/A
85
N/A
(6)
N/A
(50)
-744%
(34)
+32%
(68)
-102%
87
N/A

See Also

Summary
IBCP intrinsic value, competitors valuation, and company profile.
DCF Valuation
IBCP stock valuation using Discount Cash Flow valuation method.
Relative Valuation
IBCP stock valuation using valuation multiples.
Wall Street Estimates
IBCP price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
IBCP stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
Discover More
ALPHA SPREAD
Follow us
Join more than 319,700+ value investors using Alpha Spread
Create Free Account
or see our plans & pricing

Company

About Us Careers Pricing Affiliate Program Terms of Service Privacy Policy

Help

What is Intrinsic Value? Help Center Contact Us

Tools

Stock Screener Intrinsic Value Calculator DCF Value Calculator Discount Rate Calculator

Stocks

Most Undervalued Stocks Wide Economic Moat Stocks High Profitability Stocks High Solvency Stocks Most Popular Stocks

© 2026 Alpha Spread Limited. All Rights Reserved.

www.alphaspread.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on www.alphaspread.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. In no event shall Alpha Spread Limited be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on www.alphaspread.com, or relating to the use of, or inability to use, www.alphaspread.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance.