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Independent Bank Corporation IBCP Independent Bank — Interchange expense

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Other financials

Income statement

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Revenue$63.2M+13.0%
Net income$18.8M+11.4%
EPS (diluted)$0.90+11.1%

Balance sheet

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Cash & equivalents$165.5M+13.2%
Total debt$7.0M+0.5%
Total equity$528.4M+12.6%
Total assets$5.7B+4.5%

Cash flow

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Operating cash flow$20.3M+5.7%
CapEx$3.6M+56.3%
Free cash flow$16.7M-1.1%

Valuation

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Market cap$844.24M+33.2%
Enterprise value$685.83M+38.7%
P/E11.8×+2.0×
P/S3.6×+0.7×

Profitability

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Net margin30.2%+1.2pp
FCF margin16%-12.2pp

Returns & leverage

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Return on equity14.4%0.0pp
Debt / equity0×0.0×

Where this comes from

Reported directly by Independent Bank Corporation in its filing.

Tagged under the XBRL concept ibcp:InterchangeExpense.

The source filing: Independent Bank Corporation’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 12:18 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000039311-26-000061
Line itemThree months ended June 30, 2026Three months ended June 30, 2025Six months ended June 30, 2026Six months ended June 30, 2025
Compensation and employee benefits22,56021,12344,38941,506
Data processing4,1523,8478,1047,576
Occupancy, net2,0732,0464,4864,269
Interchange expense1,2241,1772,4152,296
Advertising1,1808332,3901,694
Litigation expense350—1,850—
Furniture, fixtures and equipment9277931,8211,678
Loan and collection1,0387441,7901,530

Item 1. Condensed Consolidated Statements of Financial Condition June 30, 2026 and December 31, 20

FAQ

What is Independent Bank Corporation's independent bank — interchange expense?
Independent Bank Corporation (IBCP) reported independent bank — interchange expense of $1.22M in Q2 2026.
How has Independent Bank Corporation's independent bank — interchange expense changed year-over-year?
Independent Bank Corporation's independent bank — interchange expense increased by 4.0% year-over-year, from $1.18M to $1.22M.
What is the long-term trend for Independent Bank Corporation's independent bank — interchange expense?
Over 3 years (2022 to 2025), Independent Bank Corporation's independent bank — interchange expense has grown at a 3.0% compound annual growth rate (CAGR), from $4.24M to $4.64M.
What does independent bank — interchange expense mean?
Reflects the costs paid by the bank to payment networks and card issuers for processing debit and credit card transactions. It is a direct operational cost associated with providing electronic payment services to customers.

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