$IBCP
INDEPENDENT BANK CORP /MI/

2015 Form 10-K Financial Statement

#000114036118012451 Filed on March 07, 2018

View on sec.gov

Income Statement

Concept 2015
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.600M
YoY Change 53.33%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $29.40M
YoY Change 16.67%
Income Tax $9.400M
% Of Pretax Income 31.97%
Net Earnings $20.00M
YoY Change 11.11%
Net Earnings / Revenue
Basic Earnings Per Share $0.88
Diluted Earnings Per Share $862.1K
COMMON SHARES
Basic Shares Outstanding 22.72M
Diluted Shares Outstanding

Balance Sheet

Concept 2015
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $43.10M
YoY Change -6.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $39.60M
YoY Change -18.52%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $2.409B
YoY Change 7.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $800.0K
YoY Change -60.0%
Accrued Expenses $23.70M
YoY Change -1.25%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $24.50M
YoY Change -5.77%
LONG-TERM LIABILITIES
Long-Term Debt $35.60M
YoY Change 0.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $35.60M
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.50M
Total Long-Term Liabilities $35.60M
Total Liabilities $2.158B
YoY Change 7.99%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $251.1M
YoY Change
Total Liabilities & Shareholders Equity $2.409B
YoY Change 7.13%

Cashflow Statement

Concept 2015
OPERATING ACTIVITIES
Net Income $20.00M
YoY Change 11.11%
Depreciation, Depletion And Amortization $4.600M
YoY Change 53.33%
Cash From Operating Activities $22.90M
YoY Change 74.81%
INVESTING ACTIVITIES
Capital Expenditures -$4.400M
YoY Change 2.33%
Acquisitions
YoY Change
Other Investing Activities -$156.2M
YoY Change 100.77%
Cash From Investing Activities -$160.5M
YoY Change 95.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 149.4M
YoY Change 522.5%
NET CHANGE
Cash From Operating Activities 22.90M
Cash From Investing Activities -160.5M
Cash From Financing Activities 149.4M
Net Change In Cash 11.80M
YoY Change -126.22%
FREE CASH FLOW
Cash From Operating Activities $22.90M
Capital Expenditures -$4.400M
Free Cash Flow $27.30M
YoY Change 56.9%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
3942000
CY2017 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
2135000
CY2017 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
2121000
CY2016 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
3902000
CY2015 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
5589000
CY2015 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
46
CY2016 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
40
CY2017 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
37
CY2017 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeAccrualMethod
49000
CY2015 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeAccrualMethod
739000
CY2016 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeAccrualMethod
84000
CY2015 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
4574000
CY2017 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
3231000
CY2016 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
3636000
CY2016Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
2891000
CY2017Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
527000
CY2016 ibcp Capitalized Mortgage Loan Servicing Rights Additional Income Charges
CapitalizedMortgageLoanServicingRightsAdditionalIncomeCharges
1000000
CY2015 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
5097000
CY2016Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
5191000
CY2017Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
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CY2017Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
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CY2016Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
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CY2016Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
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CY2017Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
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CY2017 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
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CY2015 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
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CY2016Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
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CY2017Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
6839000
CY2017 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
987000
CY2015 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
7628000
CY2016 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
1913000
CY2016 us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
3552000
CY2017 us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
3182000
CY2015 us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
3835000
CY2016 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
85171000
CY2017Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
67289000
CY2016Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
79520000
CY2017Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
68376000
CY2016Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
84711000
CY2017 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
70920000
CY2015 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
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CY2016 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
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CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21327000
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22716000
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21378000
CY2017Q4 ibcp Impaired Financing Receivable Related Allowance With No Related Allowance
ImpairedFinancingReceivableRelatedAllowanceWithNoRelatedAllowance
0
CY2016Q4 ibcp Impaired Financing Receivable Related Allowance With No Related Allowance
ImpairedFinancingReceivableRelatedAllowanceWithNoRelatedAllowance
0
CY2016Q4 ibcp Accrued Interest Impaired Loans
AccruedInterestImpairedLoans
311000
CY2017Q4 ibcp Accrued Interest Impaired Loans
AccruedInterestImpairedLoans
277000
CY2015Q4 ibcp Other Real Estate Acquired
OtherRealEstateAcquired
7070000
CY2014Q4 ibcp Other Real Estate Acquired
OtherRealEstateAcquired
6370000
CY2016Q4 ibcp Other Real Estate Acquired
OtherRealEstateAcquired
4956000
CY2017Q4 ibcp Other Real Estate Acquired
OtherRealEstateAcquired
1628000
CY2016 ibcp Other Real Estate Acquired Disposals
OtherRealEstateAcquiredDisposals
3596000
CY2015 ibcp Other Real Estate Acquired Disposals
OtherRealEstateAcquiredDisposals
5502000
CY2017 ibcp Other Real Estate Acquired Disposals
OtherRealEstateAcquiredDisposals
4737000
CY2015 ibcp Other Real Estate Acquired Valuation Adjustments
OtherRealEstateAcquiredValuationAdjustments
492000
CY2016 ibcp Other Real Estate Acquired Valuation Adjustments
OtherRealEstateAcquiredValuationAdjustments
873000
CY2017 ibcp Other Real Estate Acquired Valuation Adjustments
OtherRealEstateAcquiredValuationAdjustments
326000
CY2016 ibcp Other Real Estate Acquired Additions
OtherRealEstateAcquiredAdditions
2355000
CY2015 ibcp Other Real Estate Acquired Additions
OtherRealEstateAcquiredAdditions
6694000
CY2017 ibcp Other Real Estate Acquired Additions
OtherRealEstateAcquiredAdditions
1735000
CY2017 ibcp Reclassification Of Certain Tax Effects From Accumulated Other Comprehensive Income
ReclassificationOfCertainTaxEffectsFromAccumulatedOtherComprehensiveIncome
-36000

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