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Independent Bank

$1B-$10B Specialty: Commercial MI FDIC cert 27811

Grand Rapids, MI

59 branches across MI

NEW · Q2 2026 RECAP

Your Quarter, Wrapped

A 35-second highlight reel of your Q2 — the wins worth celebrating and the one signal worth watching, pulled straight from your scorecard data.

Q2 2026 at a glance

  • 1 of 885 banks in the $1B-$10B peer group nationwide — 1 of 18 in MI.
  • Deposits +4.2% year over year ($4.9B on the books).
  • Delinquency rate 1.00%.
  • Return on assets 1.34%.
  • Efficiency ratio 61.54% vs a 59.73% peer average.
  • Loan-to-deposit ratio 88.60% vs a 85.04% peer average.

Animation disabled (reduced-motion preference). Full details in the Core Metrics table below.

885 banks in the $1B-$10B peer group nationally 18 in MI
View $1B-$10B leaderboard (MI) →

Independent Bank faces 4 concerns requiring attention

Key Strengths include matched growth signatures, metrics ranked in the top 10%, and values meaningfully above the tier average.
Key Concerns include matched risk or decline signatures, metrics ranked in the bottom 10%, and values meaningfully below the tier average.

Key Strengths

Areas where this bank excels compared to peers

No key strengths identified

Key Concerns

Areas that may need attention

  • - Capital Thin: Bottom 45.5% in tier
  • - Net Interest Margin 0.15% below tier average
  • - Efficiency Ratio 1.81% above tier average
  • - Delinquency Rate 0.13% above tier average
Get updates when Independent Bank releases new data →

Core Metrics

As of 2026-Q2

Metric Current vs Tier Tier Avg State Avg (MI) National Avg Tier Percentile
Total Assets ? $5.7B
+4.5% YoY +1.9% QoQ
+$2.9B $2.8B
-0.6% YoY
$1.0B
+6.5% YoY
$6.3B
+7.7% YoY
Top 11.0% in tier
Total Loans ? $4.4B
+6.1% YoY +2.3% QoQ
+$2.4B $2.0B
-0.3% YoY
$767.2M
+9.2% YoY
$3.2B
+9.4% YoY
Top 9.9% in tier
Total Deposits ? $4.9B
+4.2% YoY -0.3% QoQ
+$2.6B $2.3B
-0.5% YoY
$806.0M
+5.9% YoY
$4.9B
+7.3% YoY
Top 10.5% in tier
Return on Assets ? 1.34%
+5.3% YoY +5.7% QoQ
-0.05% 1.39%
+17.0% YoY
1.18%
+20.1% YoY
1.30%
+12.1% YoY
58%
Net Interest Margin ? 3.72%
+2.1% YoY +0.4% QoQ
-0.15% 3.87%
+6.2% YoY
4.06%
+4.7% YoY
3.95%
+4.9% YoY
51%
Efficiency Ratio ? 61.54%
+2.3% YoY -3.4% QoQ
+1.81% 59.73%
-12.6% YoY
65.90%
-5.4% YoY
70.05%
+2.5% YoY
42%
Delinquency Rate ? 1.00%
+294.1% YoY +13.0% QoQ
+0.13% 0.87%
+11.7% YoY
0.85%
+32.2% YoY
0.98%
+16.3% YoY
28%
Loan-to-Deposit Ratio ? 88.60%
+1.8% YoY +2.6% QoQ
+3.56% 85.04%
-0.1% YoY
80.02%
+3.0% YoY
79.03%
+2.3% YoY
47%
Non-Interest-Bearing Deposit Share ? 23.01%
+1.6% YoY +4.0% QoQ
+1.74% 21.27%
-1.5% YoY
25.55%
-0.4% YoY
21.98%
-0.6% YoY
64%
Nonperforming Asset Ratio ? 0.78%
+288.8% YoY +13.1% QoQ
+0.11% 0.67%
+11.7% YoY
0.65%
+27.6% YoY
0.69%
+15.8% YoY
29%
Tier 1 Capital Ratio ? 11.45%
-3.8% YoY +0.2% QoQ
-3.39% 14.84%
-0.4% YoY
20.80%
-0.9% YoY
17.09%
+0.8% YoY
25%
Non-Interest Income / Assets ? 0.45%
+12.0% YoY +111.0% QoQ
-0.07% 0.53%
+2.5% YoY
0.38%
+3.3% YoY
0.66%
+5.2% YoY
76%

Additional Detail

Deposit mix, loan mix, capital, efficiency, asset quality & profitability · As of 2026-Q2

Deposit Composition

% of total deposits

Metric Current vs Tier Tier Avg State Avg (MI) National Avg Tier Percentile
Noninterest-Bearing 23.0%
+0.4pp YoY
+0.9pp QoQ
 +1.6pp 21.4% 25.9% 22.2% 64%
Brokered Deposits 0.0%
-2.6pp YoY
-1.5pp QoQ
 -9.4pp 9.5% 12.3% 8.5% 3%

Loan Composition

% of total loans & leases

Metric Current vs Tier Tier Avg State Avg (MI) National Avg Tier Percentile
C&I 14.8%
+1.1pp YoY
+0.4pp QoQ
 +0.8pp 14.0% 12.8% 12.5% 67%
CRE 39.2%
+2.4pp YoY
+0.2pp QoQ
 -10.8pp 50.0% 45.9% 41.4% 23%
1-4 Family 35.4%
-1.5pp YoY
-0.3pp QoQ
 +9.0pp 26.4% 33.6% 31.3% 76%
Consumer 11.8%
-1.9pp YoY
-0.3pp QoQ
 +7.1pp 4.7% 4.6% 5.0% 91%

Capital

Metric Current vs Tier Tier Avg State Avg (MI) National Avg Tier Percentile
CET1 Ratio 11.4%
-0.5pp YoY
0.0pp QoQ
 -4.1pp 15.6% 26.9% 19.7% 16%
Leverage Ratio 9.7%
-0.1pp YoY
+0.2pp QoQ
 -1.6pp 11.3% 12.3% 12.6% 27%
Total Capital Ratio 12.7%
-0.5pp YoY
0.0pp QoQ
 -4.0pp 16.7% 27.9% 20.8% 17%

Efficiency & Staffing

Metric Current vs Tier Tier Avg State Avg (MI) National Avg Tier Percentile
Full-Time Employees 796
-4 (-0.5%) YoY
+19 (+2.4%) QoQ
 +482 313 134 482 94%
Assets per Employee ($) $7.1M
+5.1% YoY
-0.5% QoQ
 -$3.4M $10.5M $6.8M $8.8M 25%
Branch Count 59
0 YoY
0 QoQ
 +39 20 9 18 96%

Asset Quality

Metric Current vs Tier Tier Avg State Avg (MI) National Avg Tier Percentile
Past Due 90+ Days n/a n/a 0.2% 0.2% 0.4% n/a
Nonaccrual 1.0%
+0.7pp YoY
+0.1pp QoQ
 +0.2pp 0.8% 0.8% 1.0% 74%
Allowance Coverage 1.50x
-74.3% YoY
-10.9% QoQ
 -17.21x 18.71x 6.79x 20.23x 38%
Net Charge-off Rate (YTD) 0.0%
0.0pp YoY
0.0pp QoQ
 -0.2pp 0.3% 0.1% 0.2% 45%

Profitability

Metric Current vs Tier Tier Avg State Avg (MI) National Avg Tier Percentile
ROE 14.9%
+0.9pp YoY
+0.7pp QoQ
 +2.3pp 12.6% 11.7% 11.6% 73%
Cost of Funds (YTD) 1.4%
-0.3pp YoY
0.0pp QoQ
 -0.5pp 1.9% 1.5% 1.7% 19%
Net Income ($, YTD) $37.4M
+9.5% YoY
— QoQ
 +$18.2M $19.2M $7.3M $40.4M 87%

Signature Analysis

Composite behavioral patterns that combine multiple metrics to identify what stands out about this bank. Matched signatures only; metric-level callouts appear in the Key Strengths / Key Concerns summary above.

Strengths are growth signatures this bank matches (e.g. Revenue Diversifier, Profitability Leader).
Concerns are risk or decline signatures this bank matches (e.g. Margin Compression, Credit Quality Pressure).

Strengths (0)

No matched strength signatures this quarter

Concerns (1)

Capital Thin

risk
#102 of 222 • Bottom 45.5% in tier

Tier 1 capital ratio in the bottom quartile of peers. Capital cushion thin relative to peers - regulator-watching cohort.

Why this signature
Tier 1 Capital Ratio: 11.45%
(Tier: 14.84%, National: 17.09%)
worse than tier avg
222 of 222 Mid-Market banks match · 923 nationally
→ Stable

Metric Rankings

See how this bank ranks across all tracked metrics compared to peers.

Strengths are metrics in the top 25% (75th percentile or higher).
Concerns are metrics in the bottom 25% (25th percentile or lower).
Comparing against 885 peers in $1B-$10B

Top Strengths (4 metrics)

89
Total Loans
size
Value: $4.37B
Peer Median: $1.96B
#89 of 885 Top 9.9% in $1B-$10B
94
Total Deposits
size
Value: $4.93B
Peer Median: $2.32B
#94 of 885 Top 10.5% in $1B-$10B
98
Total Assets
size
Value: $5.66B
Peer Median: $2.79B
#98 of 885 Top 11.0% in $1B-$10B
212
Non-Interest Income / Assets
revenue_mix
Value: 0.45%
Peer Median: 0.53%
#212 of 885 Top 23.8% in $1B-$10B

Top Weaknesses (1 metrics)

667
Tier 1 Capital Ratio
capital
Value: 11.45%
Peer Median: 14.84%
#667 of 885 Bottom 24.7% in $1B-$10B
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