Independent Bank Corp (NASDAQ: IBCP) is a financial services company that operates a commercial bank providing lending, deposit, and mortgage banking services. The bank earns revenue primarily through net interest income on loans and deposits, supplemented by fee income and net gains on mortgage loan sales. IBCP serves retail and commercial customers across markets that include automotive, real estate, retail, commercial and industrial, hotel, entertainment, and food service businesses. Net gains on mortgage loans totaled $6.8 million in FY2025, compared to $6.6 million in FY2024 and $7.4 million in FY2023, reflecting the volatility of that revenue line. The company competes with other banks, credit unions, and fintech and technology firms for deposits, loans, and payment services. William B. Kessel serves as President and Chief Executive Officer, a role he has held since at least 2004 per the FY2025 10-K filed March 6, 2026. Deposits are FDIC-insured up to applicable limits.

Revenue model

Net interest income from loans and deposits is the primary revenue source, with supplemental fee income and transactional gains on mortgage loan sales. Net gains on mortgage loans were $6.8 million in FY2025, $6.6 million in FY2024, and $7.4 million in FY2023 per the FY2025 10-K.

Products and services

Commercial banking, retail banking, mortgage banking (including origination and sale of real estate mortgage loans), overdraft and deposit account services, and commercial lending across sectors including automotive, real estate, C&I, hotel, entertainment, and food service.

Customers and end markets

Retail deposit and loan customers, commercial and industrial borrowers, real estate borrowers, and businesses in sectors including automotive, retail, hotel, entertainment, and food service.

Value-chain role

Bank and bank holding company. Originates and holds loans, accepts deposits, and sells fixed-rate and out-of-parameter mortgage loans into the secondary market.

Geographic exposure

The filing excerpts do not specify states or regions of operation.

Competitors

Other commercial banks, Credit unions, Fintech companies, Large technology firms offering embedded banking and payment services

Source: SEC 10-K, filed 2026-03-06

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