IBCP PEER ANALYSIS

Independent Bank Corporation — metric-by-metric comparison with peers and the industry median

IBCPIndependent Bank Corporation

🇺🇸 USA · NASDAQ · Financial Services · Banks - Regional

Value it Duel

Overall Profile & Returns

· Banks - Regional

Position Within Industry

0 = weak quartile, 100 = strong quartile

IBCPIndustry median

Scores normalize each metric against industry quartiles (p25–p75); direction is inverted for lower-is-better metrics.

Return Comparison

1-Year

Split-adjusted

Year-to-Date (YTD)

Key Metric Comparison

P/E

Lower is better

ROE

Higher is better

Net Margin

Higher is better

Revenue Growth

Higher is better

All Metrics

Valuation
Metric	IBCP	NWG	TSKB	LLOY	SKBNK	LB	Ind. Median
P/E	10.73	9.16	2.96●	13.38	20.06	116.44	12.88
P/B	1.47	1.41	0.71	1.41	3.18	0.68●	1.29
EV/EBITDA	8.39	-8.43●	2.21	14.82	1.78	306.37	9.24
P/S	—	—	—	—	—	—	—

Financial Health
Metric	IBCP	NWG	TSKB	LLOY	SKBNK	LB	Ind. Median
Current Ratio	61.78●	0.25	—	0.12	—	0.01	0.31
Debt/Equity	14.5%	17.0%	0.0%●	209.8%	0.0%●	744.5%	38.0%
NetDebt/EBITDA	0.28	-14.68●	-0.47	5.39	-13.41	280.57	-0.58

Profitability
Metric	IBCP	NWG	TSKB	LLOY	SKBNK	LB	Ind. Median
Net Margin	22.5%	20.1%	54.9%●	25.9%	14.2%	1.4%	20.6%
ROE	14.3%	14.9%	27.4%●	10.6%	17.5%	1.0%	10.9%
ROA	1.3%	0.8%	3.7%●	0.5%	1.2%	0.1%	1.2%
EBITDA Margin	—	—	—	—	—	—	20.4%

Growth + Dividend
Metric	IBCP	NWG	TSKB	LLOY	SKBNK	LB	Ind. Median
Rev. Growth	—	—	—	—	—	—	—
NI Growth	5.2%	16.0%	-1.3%	16.2%●	8.1%	-80.9%	19.4%
Div. Yield	2.9%	4.8%●	—	3.2%	—	4.7%	2.5%
Payout	31.4%	—	—	—	—	335.1%	31.4%

Valuation
Metric	IBCP	SHBI	SPFI	CARE	FISI	ALRS	Ind. Median
P/E	10.73	12.26	11.94	6.69●	9.84	29.16	12.88
P/B	1.47	1.28	1.44	1.43	1.23●	1.37	1.29
EV/EBITDA	8.39	8.44	-0.84●	—	8.04	17.66	9.24
P/S	—	—	—	—	—	—	—

Financial Health
Metric	IBCP	SHBI	SPFI	CARE	FISI	ALRS	Ind. Median
Current Ratio	61.78●	42.84	0.22	0.14	0.04	0.75	0.31
Debt/Equity	14.5%	16.5%	12.0%●	—	35.6%	52.5%	38.0%
NetDebt/EBITDA	0.28	0.57	-9.62●	—	0.39	3.17	-0.58

Profitability
Metric	IBCP	SHBI	SPFI	CARE	FISI	ALRS	Ind. Median
Net Margin	22.5%	18.2%	20.3%	33.8%●	20.9%	8.2%	20.6%
ROE	14.3%	10.9%	12.8%	23.9%●	12.9%	5.0%	10.9%
ROA	1.3%	1.0%	1.3%	2.3%●	1.3%	0.5%	1.2%
EBITDA Margin	—	—	—	—	—	—	20.4%

Growth + Dividend
Metric	IBCP	SHBI	SPFI	CARE	FISI	ALRS	Ind. Median
Rev. Growth	—	—	—	—	—	—	—
NI Growth	5.2%	27.0%	18.7%	291.0%●	—	9.9%	19.4%
Div. Yield	2.9%	2.1%	1.5%	—	3.1%●	2.7%	2.5%
Payout	31.4%	25.6%	17.1%	—	33.4%	76.9%	31.4%

The green dot marks the best value in the group given the metric direction (higher/lower is better). All metrics use trailing-twelve-month (TTM) data.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.