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Independent Bank Corporation IBCP Junior Subordinated Notes

Junior Subordinated Notes at other companies

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$22.42M+1.3%

Other financials

Income statement

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Revenue$58.9M+8.9%
Net income$16.9M+8.2%
EPS (diluted)$0.81+9.5%

Balance sheet

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Cash & equivalents$174.9M+36.5%
Total debt$7.2M+13.4%
Total equity$510.6M+9.3%
Total assets$5.6B+4.3%

Cash flow

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Operating cash flow-$9.2M-148%
CapEx$4.6M+311%
Free cash flow-$13.8M-176%

Valuation

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Market cap$733.37M+16.4%
Enterprise value$565.68M+11.3%
P/E10.5×+1.0×
P/S3.2×+0.4×

Profitability

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Net margin30.3%+0.7pp
FCF margin16.6%-7.1pp

Returns & leverage

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Return on equity14.3%-0.8pp
Debt / equity0.0×

Where this comes from

Reported directly by Independent Bank Corporation in its filing.

Tagged under the XBRL concept us-gaap:JuniorSubordinatedDebentureOwedToUnconsolidatedSubsidiaryTrust.

The official record: Independent Bank Corporation’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Independent Bank Corporation's junior subordinated notes?
Independent Bank Corporation (IBCP) reported junior subordinated notes of $39.88M in Q1 2026.
How has Independent Bank Corporation's junior subordinated notes changed year-over-year?
Independent Bank Corporation's junior subordinated notes increased by 0.2% year-over-year, from $39.81M to $39.88M.
What is the long-term trend for Independent Bank Corporation's junior subordinated notes?
Over 5 years (2020 to 2025), Independent Bank Corporation's junior subordinated notes has grown at a 0.2% compound annual growth rate (CAGR), from $39.52M to $39.86M.
What does junior subordinated notes mean?
Represents debt instruments that rank below senior debt in priority of payment during liquidation, often qualifying as regulatory capital. These notes are used to optimize the bank's capital structure and meet regulatory requirements for capital adequacy. They carry higher interest costs due to their subordinate status and increased risk profile.