Independent Bank Corporation Common Stock (IBCP)

FairStock Score: 49/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach a regional bank first through returns and price-to-book. Independent Bank earns a FairStock-calculated ROE of 14.38%, trades at 1.37 times book and 10.19 times earnings as of the 2026-10-13 close of $35.17. That is not expensive for a bank earning a low-teens return on equity, and the 3.19% dividend yield with a 0.72 beta may appeal to income-oriented investors. Earnings have been consistent: filed net income was $17.5M in fiscal Q3 2025, $18.6M in fiscal Q4 2025, $16.9M in fiscal Q1 2026, and $18.8M in fiscal Q2 2026; diluted EPS was $0.84, $0.89, $0.81 and $0.90 respectively. On an annual basis, FY2025 filed revenue was $32.1M versus $32.0M in FY2024, net income was $68.5M versus $66.8M, and diluted EPS was $3.27 versus $3.16. That is stability, but hardly dynamism; the computed Lynch category is Slow Grower, with profit growing about 4.1% a year and revenue 5.9% a year over five years. The PEG of 16.98 and FairStock score of 49/100 tell me the market is not paying up for growth. My main analytical blind spot is bank-specific risk: CET1, net interest margin, nonperforming assets, charge-offs, reserve coverage and efficiency ratio are not in the data. Without those, I cannot judge credit underwriting or capital adequacy. Piotroski 5/9 is middling. This looks like a reasonably priced, dividend-paying, low-beta regional bank with modest growth; the valuation is fair, not compelling, and the absence of credit and capital detail keeps it in the watch, not shout, pile.

In plain English: Independent Bank is a regional bank that takes deposits and makes loans. It has been solidly profitable, pays a decent dividend, and trades at a reasonable price for its profits and asset value, but growth is slow. It looks more fair than cheap.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q4 2025 10-K (period ended 2025-12-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer