# INDEPENDENT BANK
GRAND RAPIDS, MI · FDIC certificate 27811 · asset band $1-10B · latest filing 2026-06 · live

**Verdict on the desk:** this could be *ordinary*. Composite score 0 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $5.66B | |
| Deposits | $4.93B | |
| Loans and leases | $4.43B | |
| Total equity | $515.9M | |
| Loans / deposits | 88.60% (p54 of band) | 87.10% |
| Liquid assets / assets | 16.76% (p31 of band) | |
| Uninsured deposits / deposits | 24.38% (p28 of band) | 30.76% |
| Brokered deposits | 0.01% | |
| Wholesale funding | 2.25% (p31 of band) | |
| FHLB advances / assets | 2.25% | |
| Tier 1 leverage | 9.67% (p28 of band) | 10.50% |
| Unrealized securities loss / equity | -14.78% (p29 of band) | -7.75% |
| AOCI / equity | 0.26% (p89 of band) | |
| ROA (annualized) | 1.34% (p59 of band) | 1.26% |
| Net interest margin | 3.72% (p51 of band) | 3.70% |
| Efficiency ratio | 61.54% (p58 of band) | |
| Noncurrent loans | 0.99% (p73 of band) | 0.51% |
| Net charge-offs (annualized) | 0.02% (p49 of band) | |
| Reserve coverage of noncurrent | 150.33% | |
| Real estate % of loans | 74% | |
| Construction % of loans | 48.34% (p50 of band) | |
| Auto loans | $26.9M (0.61% of loans; DQ 0.33%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p35 of band) | |
| Deposits YoY | 4.2% | |
| Employees | 796 | |

## Flags firing in the latest filing

- none

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 5 | brokered >10%, leverage <7%, losing money, expense ratio p90, charge-offs p90 |  |
| 2011-06 | 4 |  | brokered >10% |
| 2011-09 | 3 |  | leverage <7% |
| 2011-12 | 4 | leverage <7%, reserve under noncurrent | charge-offs p90 |
| 2012-03 | 2 | charge-offs p90 | losing money, expense ratio p90, reserve under noncurrent |
| 2012-06 | 2 |  |  |
| 2012-09 | 0 |  | leverage <7%, charge-offs p90 |
| 2012-12 | 2 | deposits shrinking, assets shrinking |  |
| 2013-03 | 2 |  |  |
| 2013-06 | 2 |  |  |
| 2013-09 | 2 |  |  |
| 2013-12 | 0 |  | deposits shrinking, assets shrinking |
| 2014-03 | 1 | charge-offs p90 |  |
| 2014-06 | 0 |  | charge-offs p90 |
| 2014-09 | 0 |  |  |
| 2014-12 | 0 |  |  |
| 2015-03 | 0 |  |  |
| 2015-06 | 0 |  |  |
| 2015-09 | 0 |  |  |
| 2015-12 | 0 |  |  |
| 2016-03 | 0 |  |  |
| 2016-06 | 0 |  |  |
| 2016-09 | 0 |  |  |
| 2016-12 | 0 |  |  |
| 2017-03 | 0 |  |  |
| 2017-06 | 0 |  |  |
| 2017-09 | 1 | capital falling |  |
| 2017-12 | 0 |  | capital falling |
| 2018-03 | 0 |  |  |
| 2018-06 | 0 |  |  |
| 2018-09 | 1 | capital falling |  |
| 2018-12 | 2 | brokered >10% |  |
| 2019-03 | 1 |  | capital falling |
| 2019-06 | 2 | wholesale funding >15% |  |
| 2019-09 | 0 |  | brokered >10%, wholesale funding >15% |
| 2019-12 | 0 |  |  |
| 2020-03 | 0 |  |  |
| 2020-06 | 1 | capital falling |  |
| 2020-09 | 0 |  | capital falling |
| 2020-12 | 0 |  |  |
| 2021-03 | 0 |  |  |
| 2021-06 | 0 |  |  |
| 2021-09 | 0 |  |  |
| 2021-12 | 0 |  |  |
| 2022-03 | 1 | capital falling |  |
| 2022-06 | 2 | AOCI drag >20% of equity |  |
| 2022-09 | 3 | securities losses >30% of equity |  |
| 2022-12 | 2 |  | capital falling |
| 2023-03 | 0 |  | AOCI drag >20% of equity, securities losses >30% of equity |
| 2023-06 | 0 |  |  |
| 2023-09 | 1 | securities losses >30% of equity |  |
| 2023-12 | 0 |  | securities losses >30% of equity |
| 2024-03 | 0 |  |  |
| 2024-06 | 0 |  |  |
| 2024-09 | 0 |  |  |
| 2024-12 | 0 |  |  |
| 2025-03 | 0 |  |  |
| 2025-06 | 0 |  |  |
| 2025-09 | 0 |  |  |
| 2025-12 | 0 |  |  |
| 2026-03 | 0 |  |  |
| 2026-06 | 0 |  |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-07-30 [Independent Bank Corp. (Michigan) Number of Employees 2026 | Employee Count & Headcount Data - reveliolabs.com](https://news.google.com/rss/articles/CBMihAFBVV95cUxNSUtsSEVFOVNaZnJwdlNxcERqWVYtSU9NdWdGbEZTQjZHVkVteFV2bzlYNERaMUlNTG4tUENhUVIxdDlyZ3ZfaDJXb05JQWZxa090dXBZdVZ6QWpMNU13RWlTQXNIV3hkZWxETU9POTZtNl9kMDVDblZLQy14V01yVlFxX1k?oc=5) · reveliolabs.com
- 2026-06-12 [Independent Bank Corporation Announces Regulatory Approvals to Acquire HCB Financial Corp. and Highpoint Community Bank - Yahoo Finance](https://news.google.com/rss/articles/CBMitAFBVV95cUxOazdYTUpWYTRpZEZCVmV0X2Y2MlAxOERsbW9lVjVoVDRjYUwxWDNDelNUSmdEdXVaT2M5dWkyR3RoVmZvWTJHSU5XdlREX0FUOHpCWnZTVjQ0OUxNbGlxTmgtMm11OXo1c2UxT1Iya1hmNEFDdmFJX3R5QUFoZ1I3UVpHd2tIcVNjd3NTSFJycDlHNFR6OFNkY0dJTTVqV0gyb2hLM3FrOUt5cXQ5bWcwOXBiOFM?oc=5) · Yahoo Finance
- 2026-03-20 [Michigan banks Independent, Highpoint to combine in $70.2M deal - Banking Dive](https://news.google.com/rss/articles/CBMitgFBVV95cUxNdmxhZXlKX3o2ZkZ1S241STNBRWxfZkd4S0EwanVzRFZfeURQd1FrdmsyN0FJYkQ4LWtIVFFxS3VOVDhRblpyWngxUFk4aHNURDhUS01URHlidk1FendoRTA1UUdHSXRJRFlQS29hUVVYQ21xSFF1a25scVYwOXA1RFl4SmpDTHVYNlFlNEVuNV9KTGxDNlY1UEtFUDVSd1ZoLUV4VE96UEYzNnQwNWZxQ2V2cjJidw?oc=5) · Banking Dive
- 2026-06-09 [Independent Bank taps two veteran execs for regional growth push - Crain's Grand Rapids](https://news.google.com/rss/articles/CBMioAFBVV95cUxOeFFkU3FkVElHX0xWNXVNS3ZvN0JVQnJGdXFGSC1IS09lNWdCc2ZwMkRja1VsY1JwSUZYbXVxVEJtMjNsWEVyN0czYW9wUnNlbjBqVHk4M1dieEZmWlVKZ0NIR1IzUlhlRnQ0NXgzTnBpa3k3amszdkRtQWRNNGRCV3g5Q0NZN1R5bG5RdVh3bnlEdWFhMHphbjlQM2NuOTZZ?oc=5) · Crain's Grand Rapids
- 2026-07-21 [Independent Bank Corporation Announces Quarterly Cash Dividend on Common Stock - GlobeNewswire](https://news.google.com/rss/articles/CBMi5AFBVV95cUxNdElYcmVZMGxJYjBuaWJqYm5BcmxaUU11VWItS2hqOUE5TnVjdTV0ZWQzRjJ3SkRNUDVBVEY2OHhoYzZ6UHdJYWN4TnZDZ1pIRURrR2tSLVI3OVV6cTY1b1lxUy1yMDFUYWNZUUlXTzN1N1FhckQ5emVHWFc2WjlPRWF1ZUd0VGlsV1FCRlJJcEdUYlN2ZURjSm1hU1RQYmM4bzA2MFMtWmJ3NFEwOVNVaHF4YWZ3MGhoTGc4RXJzbEpZbFNXWlhNUHpxbnlieWpHZmlPNlBmZTNGb0hlU05sSF9Uakk?oc=5) · GlobeNewswire
- 2026-06-09 [Independent Bank taps two veteran execs for regional growth push - Crain's Detroit](https://news.google.com/rss/articles/CBMimwFBVV95cUxOQ2Fjb2dyVGlxcEdaS0NmWS1zRmdqbHVlQ29ZbFl0ME4zWjNMZWdKaVBfZjR0U2NlX0ZQNml0cGNic3lYU3lFUjZNaDd6OFVzZ09Lc0hMY253aDBYU1JjcUl0cUtSMlVfMk15allVYTV2UUJoRER3WTUzdTVCQWpKU1VxQlFRaDhadk5kdjdhcEpnRlVLcElXbWsxWQ?oc=5) · Crain's Detroit
- 2026-03-19 [Michigan's Independent ends M&A drought with in-state deal - American Banker](https://news.google.com/rss/articles/CBMimAFBVV95cUxOVzA5VjZocklSWF9fY0o5TEdKTGJiNlZrVG5tYnRJVl9WR0JCd2gxa0ItOG1fSXZWbjVuVWxKdm9WR2h0WkNQOFMwdEdzek00bDFyOWk4MzlrQUFQQ2Y3blRRMF9DQnpPNkN5eWJyOTJJSVFnc3V3UmFIM2p0dV81WlYyRFJFYWRvbUpobTVXdGNnYWItZy1QUQ?oc=5) · American Banker
- 2026-07-27 [Independent Bank Corp (IBCP) director reports holding 28,734 shares - stocktitan.net](https://news.google.com/rss/articles/CBMiywFBVV95cUxPdEpRNjBQMTRUMlpRTGRDYUZfVzY5QjNQYTRhd0JBSFRCMHhyXzNQOF80Y05DSGtPQWVkMWZ0c09INVpRSDJodjRIQ0haajZxT281cFFlVlZjamtHRkhEMFhIOXhNWERLTGlVeHhRWGVqT2lFQXdlSE1DOG1MU2o0elpoS05URzVIT29ldjIzQWVnM0tBdmlqVXlJM1BQWHRuSGpUR2ljbUpRNEFIZ3FOcVIxTk04dkVnczllZTA2Q010WUpHcldiZVV0UQ?oc=5) · stocktitan.net

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=27811 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/35.json (key "27811", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

---
Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide