Independent Bank
Major Rating Factors:
A five year analysis of stability tests including evaluations of capital adequacy, asset growth, and profitability lead to an Excellent overall stability index (8.9 on a scale of 0 to 10). Excellent current capitalization (7.7 on a scale of 0 to 10) based on a risk-based capital ratio of 13.0 and a capital leverage ratio of 9.6.
Other Rating Factors:
A current level of 1.1 percent of nonperforming loans to core capital combined with 1.1 percent from a year earlier contributes to the Excellent asset quality (7.4). Operating profits as a percentage of assets at 1.7%, coupled with a return on assets of 1.3 has resulted in Good (6.2) profitability.
Asset Mix:
Home mtgs (25%), comm re (20%), securities (16%), consumer loans (11%), comm loans (10%), home eq lns (3%), cash (2%), other (13%)
States with Branches:
MI
Asset Quality
Non-Performing Loans to Capital
Non-Performing Assets to Assets
Non-Performing Loans to Loans
Loan Loss Reserves to Loans
Charge-Offs to Average Loans
5-Year Charge-Offs to Average Loans
5-Year Asset Growth
1-Year Asset Growth
Profitability
Operating Profit to Average Assets
Return on Equity
Net Interest Spread
5-Year ROAA (Return on Average Assets)
Overhead Efficiency Ratio
Corporate Info
Group Affiliation
Independent Bank Corporation
Investment Rating
Address
4200 East Beltline Avenue, NE
Grand Rapids, MI 49525
Grand Rapids, MI 49525
Phone Number
(616) 363-1207
Year Founded
1864
FDIC Number
Website
Largest Affiliates
No affiliate information available.