---
title: "Independent Bank Reports Strong 2024 Financial Performance"
description: "Independent Bank Corporation reported a strong financial performance for 2024, with a net income of $66.8 million and a 5% increase in cash dividends per share. The Annual Meeting of Shareholders incl"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/237031464.md"
published_at: "2025-04-22T18:57:51.000Z"
---

# Independent Bank Reports Strong 2024 Financial Performance

> Independent Bank Corporation reported a strong financial performance for 2024, with a net income of $66.8 million and a 5% increase in cash dividends per share. The Annual Meeting of Shareholders included discussions on director elections and executive compensation. The bank experienced significant loan growth, particularly in commercial loans, and maintained a solid balance sheet. Spark's analysis rates IBCP stock as an Outperform, highlighting its strong financial foundation and attractive valuation, despite a year-to-date price performance decline of 13.27%.

Independent Bank ( (IBCP) ) has provided an announcement.

During the 2025 Annual Meeting of Shareholders held on April 22, Independent Bank Corporation presented its financial performance for 2024, highlighting a net income of $66.8 million and a 5% increase in cash dividends per share. The meeting included voting on the election of directors, ratification of auditors, and an advisory vote on executive compensation. The company reported strong loan growth, particularly in commercial loans, and maintained a solid balance sheet with a loan-to-deposit ratio of 86.8%. These results underscore Independent Bank’s consistent growth and profitability, reinforcing its strong position in the financial market.

**Spark’s Take on IBCP Stock**

According to Spark, TipRanks’ AI Analyst, IBCP is a Outperform.

Independent Bank’s overall stock score of 72 reflects a solid financial foundation with strengths in income growth and robust loan portfolio expansion. The valuation is attractive, supported by a favorable P/E ratio and strong dividend yield. Technical indicators suggest a balanced outlook, though bearish momentum warrants caution. The earnings call provided optimistic guidance despite some operational challenges, contributing positively to the score.

To see Spark’s full report on IBCP stock, click here.

**More about Independent Bank**

Independent Bank Corporation operates in the financial industry, primarily offering banking services such as commercial, mortgage, and retail banking. The company focuses on providing a range of financial products and services to individual and business clients.

**YTD Price Performance:** -13.27%

**Average Trading Volume:** 119,429

**Technical Sentiment Signal:** Hold

**Current Market Cap:** $629M

For a thorough assessment of IBCP stock, go to TipRanks’ Stock Analysis page.

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.