Independent Bank Corporation IBCP Bank Owned Life Insurance
Bank Owned Life Insurance at other companies
Other financials
Where this comes from
Reported directly by Independent Bank Corporation in its filing.
Tagged under the XBRL concept us-gaap:BankOwnedLifeInsurance.
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 bank owned life insurance?
- Independent Bank Corporation (IBCP) reported bank owned life insurance of $54.07M in Q1 2026.
- How has Independent Bank Corporation's bank owned life insurance changed year-over-year?
- Independent Bank Corporation's bank owned life insurance increased by 0.7% year-over-year, from $53.72M to $54.07M.
- What is the long-term trend for Independent Bank Corporation's bank owned life insurance?
- Over 5 years (2020 to 2025), Independent Bank Corporation's bank owned life insurance has grown at a -0.5% compound annual growth rate (CAGR), from $55.18M to $53.75M.
- What does bank owned life insurance mean?
- Refers to the cash surrender value of life insurance policies held by the bank on the lives of key employees or executives. This asset serves as a tax-advantaged vehicle to offset the costs of employee benefit plans. It reflects the bank's long-term strategy for managing benefit liabilities and diversifying its non-interest income sources.