Independent Bank (IBCP) Revenue & Revenue Breakdown

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Independent Bank Revenue Highlights

Latest Revenue (Y)

$294.56M

Latest Revenue (Q)

$83.22M

Main Segment (Y)

Interchange Income

Main Geography (Y)

Interchange Income

Independent Bank Revenue by Period

Independent Bank Revenue by Year

Date	Revenue	Change
2023-12-31	$294.56M	43.99%
2022-12-31	$204.57M	2.78%
2021-12-31	$199.03M	0.77%
2020-12-31	$197.52M	20.37%
2019-12-31	$164.10M	7.27%
2018-12-31	$152.97M	19.13%
2017-12-31	$128.41M	9.49%
2016-12-31	$117.28M	8.02%
2015-12-31	$108.57M	3.99%
2014-12-31	$104.40M	-6.58%
2013-12-31	$111.76M	-12.49%
2012-12-31	$127.71M	-9.73%
2011-12-31	$141.48M	-14.70%
2010-12-31	$165.86M	-15.92%
2009-12-31	$197.26M	23.39%
2008-12-31	$159.87M	-4.69%
2007-12-31	$167.74M	1.51%
2006-12-31	$165.25M	-7.48%
2005-12-31	$178.61M	14.99%
2004-12-31	$155.33M	12.68%
2003-12-31	$137.86M	22.30%
2002-12-31	$112.72M	6.35%
2001-12-31	$105.98M	18.40%
2000-12-31	$89.51M	6.43%
1999-12-31	$84.10M	33.49%
1998-12-31	$63.00M	23.29%
1997-12-31	$51.10M	26.80%
1996-12-31	$40.30M	26.33%
1995-12-31	$31.90M	12.72%
1994-12-31	$28.30M	17.92%
1993-12-31	$24.00M	-

Independent Bank generated $294.56M in revenue during NA 2023, up 43.99% compared to the previous quarter, and up 192.56% compared to the same period a year ago.

Independent Bank Revenue by Quarter

Date	Revenue	Change
2024-09-30	$83.22M	5.54%
2024-06-30	$78.85M	1.82%
2024-03-31	$77.44M	-2.12%
2023-12-31	$79.12M	48.16%
2023-09-30	$53.40M	2.51%
2023-06-30	$52.09M	9.98%
2023-03-31	$47.37M	-5.93%
2022-12-31	$50.35M	279616.67%
2022-09-30	$18.00K	-99.96%
2022-06-30	$48.78M	-3.27%
2022-03-31	$50.43M	4.67%
2021-12-31	$48.18M	-6.46%
2021-09-30	$51.51M	17.12%
2021-06-30	$43.98M	-20.12%
2021-03-31	$55.06M	6.50%
2020-12-31	$51.70M	-9.66%
2020-09-30	$57.23M	16.18%
2020-06-30	$49.26M	25.28%
2020-03-31	$39.32M	-11.96%
2019-12-31	$44.67M	7.92%
2019-09-30	$41.39M	5.10%
2019-06-30	$39.38M	1.87%
2019-03-31	$38.66M	1.57%
2018-12-31	$38.06M	-6.04%
2018-09-30	$40.50M	1.67%
2018-06-30	$39.84M	15.88%
2018-03-31	$34.38M	-0.20%
2017-12-31	$34.45M	6.63%
2017-09-30	$32.31M	5.06%
2017-06-30	$30.75M	-0.51%
2017-03-31	$30.91M	-4.15%
2016-12-31	$32.25M	6.09%
2016-09-30	$30.40M	7.28%
2016-06-30	$28.33M	7.73%
2016-03-31	$26.30M	-7.03%
2015-12-31	$28.29M	6.88%
2015-09-30	$26.47M	-6.69%
2015-06-30	$28.37M	11.49%
2015-03-31	$25.44M	0.38%
2014-12-31	$25.35M	-6.21%
2014-09-30	$27.03M	1.46%
2014-06-30	$26.64M	4.92%
2014-03-31	$25.39M	-9.48%
2013-12-31	$28.05M	4.10%
2013-09-30	$26.94M	-9.47%
2013-06-30	$29.76M	10.23%
2013-03-31	$27.00M	33.94%
2012-12-31	$20.16M	-43.99%
2012-09-30	$35.99M	3.21%
2012-06-30	$34.87M	-4.94%
2012-03-31	$36.68M	3.48%
2011-12-31	$35.45M	7.34%
2011-09-30	$33.03M	-7.84%
2011-06-30	$35.84M	-3.92%
2011-03-31	$37.30M	-16.26%
2010-12-31	$44.55M	13.21%
2010-09-30	$39.35M	-1.13%
2010-06-30	$39.80M	-5.61%
2010-03-31	$42.17M	-9.84%
2009-12-31	$46.77M	-2.65%
2009-09-30	$48.04M	-15.02%
2009-06-30	$56.53M	23.09%
2009-03-31	$45.92M	38.16%
2008-12-31	$33.24M	-15.62%
2008-09-30	$39.40M	-16.81%
2008-06-30	$47.36M	18.76%
2008-03-31	$39.88M	-3.31%
2007-12-31	$41.24M	-

Independent Bank generated $83.22M in revenue during Q3 2024, up 5.54% compared to the previous quarter, and up 159.75% compared to the same period a year ago.

Independent Bank Revenue Breakdown

Independent Bank Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Dec 21	Dec 20	Dec 19	Dec 18
Other	$819.00K	$769.00K	$965.00K	$941.00K
Interchange Income	$14.04M	$11.23M	$10.30M	-
Asset Management Revenue	$1.69M	$1.28M	$1.12M	-
Account Service Charges	$1.13M	$2.02M	$2.10M	$2.15M
Investment and Insurance Commissions	$2.60M	$1.97M	$1.66M	-
Other Deposit Related Income	$2.28M	$2.31M	$2.79M	-
Service Charges on Deposits	$10.17M	$8.52M	$11.21M	-
Transaction Based Revenue	$914.00K	$688.00K	$535.00K	-
ATM Fees	$1.11M	$1.17M	$1.37M	$1.42M
Overdraft Fees	$8.43M	$5.63M	$7.59M	$8.29M

Independent Bank's latest annual revenue breakdown by segment (product or service), as of Dec 21: Interchange Income (32.52%), Service Charges on Deposits (23.55%), Overdraft Fees (19.52%), Investment and Insurance Commissions (6.03%), Other Deposit Related Income (5.28%), Asset Management Revenue (3.91%), Account Service Charges (2.62%), ATM Fees (2.57%), Transaction Based Revenue (2.12%), and Other (1.90%).

Quarterly Revenue by Product

Product/Service	Sep 24	Mar 24	Sep 23	Jun 23	Mar 23	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Dec 19	Sep 19	Jun 19	Mar 19
Transaction Based Revenue	$423.00K	$311.00K	$388.00K	$284.00K	$385.00K	$316.00K	$229.00K	$269.00K	$246.00K	$234.00K	$233.00K	$201.00K	$147.00K	$195.00K	$146.00K	$200.00K	$161.00K	$158.00K	$173.00K	$43.00K
ATM Fees	$430.00K	$383.00K	$457.00K	$449.00K	$329.00K	$318.00K	$310.00K	$277.00K	$292.00K	$336.00K	$213.00K	$268.00K	$277.00K	$320.00K	$276.00K	$300.00K	$327.00K	$373.00K	$346.00K	$322.00K
Other	$167.00K	$250.00K	$247.00K	$262.00K	$247.00K	$239.00K	$237.00K	$251.00K	$267.00K	$179.00K	$175.00K	$198.00K	$192.00K	$184.00K	$157.00K	$236.00K	$262.00K	$240.00K	$212.00K	$251.00K
Overdraft Fees	$2.38M	$2.19M	$2.09M	$2.42M	$2.26M	$2.49M	$2.50M	$2.51M	$2.69M	$2.70M	$1.83M	$1.21M	$1.50M	$1.37M	$1.02M	$1.74M	$2.01M	$1.97M	$1.88M	$1.73M
Account Service Charges	$593.00K	$573.00K	$1.08M	$589.00K	$467.00K	$436.00K	$452.00K	$321.00K	$180.00K	$107.00K	$331.00K	$512.00K	$516.00K	$544.00K	$451.00K	$506.00K	$494.00K	$552.00K	$541.00K	$516.00K
Asset Management Revenue	$458.00K	$493.00K	$488.00K	$459.00K	$442.00K	$433.00K	$453.00K	$469.00K	$462.00K	$444.00K	$401.00K	$383.00K	$346.00K	$335.00K	$289.00K	$313.00K	$300.00K	$292.00K	$277.00K	$254.00K
Interchange Income	$4.15M	$3.15M	$4.10M	$3.35M	$3.21M	$4.05M	$3.42M	$3.08M	$3.31M	$4.24M	$3.45M	$3.05M	$2.82M	$3.43M	$2.53M	$2.46M	$2.55M	$2.79M	$2.60M	$2.35M
Investment And Insurance Commissions	$881.00K	$804.00K	$876.00K	$743.00K	$827.00K	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Deposit Related Income	$724.00K	$748.00K	$826.00K	$836.00K	$676.00K	$644.00K	$625.00K	$622.00K	$655.00K	$602.00K	$462.00K	$561.00K	$565.00K	$600.00K	$510.00K	$633.00K	$711.00K	$713.00K	$656.00K	$710.00K
Service Charges On Deposits	$3.08M	$2.87M	$3.31M	$3.13M	$2.86M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Service Charges on Deposits	-	-	-	-	-	$3.08M	$3.10M	$2.96M	$2.99M	$2.94M	$2.32M	$1.92M	$2.22M	$2.08M	$1.62M	$2.59M	$2.88M	$2.88M	$2.80M	$2.64M
Investment and Insurance Commissions	-	-	-	-	-	$749.00K	$682.00K	$738.00K	$708.00K	$678.00K	$634.00K	$584.00K	$493.00K	$530.00K	$435.00K	$513.00K	$461.00K	$450.00K	$450.00K	$297.00K

Independent Bank's latest quarterly revenue breakdown by segment (product or service), as of Sep 24: Interchange Income (31.21%), Service Charges On Deposits (23.22%), Overdraft Fees (17.90%), Investment And Insurance Commissions (6.63%), Other Deposit Related Income (5.45%), Account Service Charges (4.46%), Asset Management Revenue (3.45%), ATM Fees (3.24%), Transaction Based Revenue (3.18%), and Other (1.26%).

Independent Bank Revenue Breakdown by Country

Annual Revenue by Country

Country	Dec 21	Dec 20	Dec 19	Dec 18
ATM Fees	$1.11M	$1.17M	$1.37M	$1.42M
Other	$819.00K	$769.00K	$965.00K	$941.00K
Overdraft Fees	$8.43M	$5.63M	$7.59M	$8.29M
Transaction Based Revenue	$914.00K	$688.00K	$535.00K	-
Service Charges on Deposits	$10.17M	$8.52M	$11.21M	-
Other Deposit Related Income	$2.28M	$2.31M	$2.79M	-
Investment and Insurance Commissions	$2.60M	$1.97M	$1.66M	-
Interchange Income	$14.04M	$11.23M	$10.30M	-
Asset Management Revenue	$1.69M	$1.28M	$1.12M	-
Account Service Charges	$1.13M	$2.02M	$2.10M	$2.15M

Independent Bank's latest annual revenue breakdown by geography, as of Dec 21: Interchange Income (32.52%), Service Charges on Deposits (23.55%), Overdraft Fees (19.52%), Investment and Insurance Commissions (6.03%), Other Deposit Related Income (5.28%), Asset Management Revenue (3.91%), Account Service Charges (2.62%), ATM Fees (2.57%), Transaction Based Revenue (2.12%), and Other (1.90%).

Independent Bank Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
HFWA	Heritage Financial	$303.13M	$81.65M
IBCP	Independent Bank	$294.56M	$83.22M
HTBI	HomeTrust Bancshares	$186.37M	$-145.70M
HBCP	Home Bancorp	$178.87M	$51.02M
FNWB	First Northwest Bancorp	$104.92M	$28.21M
FFNW	First Financial Northwest	$80.93M	$20.09M
CWBC	Community West Bancshares	$61.39M	$27.26M
GSBC	Great Southern Bancorp	$46.29M	$91.36M
HMNF	HMN Financial	$43.48M	$14.79M
LSBK	Lake Shore Bancorp	$36.39M	$9.64M
HFBL	Home Federal Bancorp, Inc. of Louisiana	$33.45M	$8.04M
FCCO	First Community	$10.42M	$26.72M

IBCP Revenue FAQ

What is Independent Bank’s yearly revenue?

Independent Bank's yearly revenue for 2023 was $294.56M, representing an increase of 43.99% compared to 2022. The company's yearly revenue for 2022 was $204.57M, representing an increase of 2.78% compared to 2021. IBCP's yearly revenue for 2021 was $199.03M, representing an increase of 0.77% compared to 2020.

What is Independent Bank’s quarterly revenue?

Independent Bank's quarterly revenue for Q3 2024 was $83.22M, a 5.54% increase from the previous quarter (Q2 2024), and a 55.85% increase year-over-year (Q3 2023). The company's quarterly revenue for Q2 2024 was $78.85M, a 1.82% increase from the previous quarter (Q1 2024), and a 51.37% increase year-over-year (Q2 2023). IBCP's quarterly revenue for Q1 2024 was $77.44M, a -2.12% decrease from the previous quarter (Q4 2023), and a 63.50% increase year-over-year (Q1 2023).

What is Independent Bank’s revenue growth rate?

Independent Bank's revenue growth rate for the last 3 years (2021-2023) was 47.99%, and for the last 5 years (2019-2023) was 79.50%.

What are Independent Bank’s revenue streams?

Independent Bank's revenue streams in c 21 are Other, Interchange Income, Asset Management Revenue, Account Service Charges, Investment and Insurance Commissions, Other Deposit Related Income, Service Charges on Deposits, Transaction Based Revenue, ATM Fees, and Overdraft Fees. Other generated $819K in revenue, accounting 1.90% of the company's total revenue, up 6.50% year-over-year. Interchange Income generated $14.04M in revenue, accounting 32.52% of the company's total revenue, up 25.07% year-over-year. Asset Management Revenue generated $1.69M in revenue, accounting 3.91% of the company's total revenue, up 31.64% year-over-year. Account Service Charges generated $1.13M in revenue, accounting 2.62% of the company's total revenue, down -43.98% year-over-year. Investment and Insurance Commissions generated $2.6M in revenue, accounting 6.03% of the company's total revenue, up 32.06% year-over-year. Other Deposit Related Income generated $2.28M in revenue, accounting 5.28% of the company's total revenue, down -1.21% year-over-year. Service Charges on Deposits generated $10.17M in revenue, accounting 23.55% of the company's total revenue, up 19.41% year-over-year. Transaction Based Revenue generated $914K in revenue, accounting 2.12% of the company's total revenue, up 32.85% year-over-year. ATM Fees generated $1.11M in revenue, accounting 2.57% of the company's total revenue, down -5.46% year-over-year. Overdraft Fees generated $8.43M in revenue, accounting 19.52% of the company's total revenue, up 49.83% year-over-year.

What is Independent Bank’s main source of revenue?

For the fiscal year ending Dec 21, the largest source of revenue of Independent Bank was Interchange Income. This segment made a revenue of $14.04M, representing 32.52% of the company's total revenue.