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Independent Bank Corporation IBCP Tax credit transfer agreement, income taxes receivable

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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$733.17M+16.4%
Enterprise value$565.47M+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 ibcp:TaxCreditTransferAgreementIncomeTaxesReceivable.

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

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Questions, answered.

What is Independent Bank Corporation's tax credit transfer agreement, income taxes receivable?
Independent Bank Corporation (IBCP) reported tax credit transfer agreement, income taxes receivable of $22.9M in Q4 2025.
What does tax credit transfer agreement, income taxes receivable mean?
This represents the amount due to the bank under agreements to transfer tax credits to third parties. It reflects the bank's participation in tax-advantaged financing structures and the timing of expected cash inflows from these tax-related assets.