Independent Bank (Grand Rapids, MI): Financial Reports & UBPR Data
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Data as of · sourced from FFIEC call reports. How we update
Problem loans are rising at Independent Bank. Based in Grand Rapids, Michigan, it had $5.7 billion in assets at June 30, 2026, up 4.5% from a year earlier. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 0.74% of loans from 0.20% a year earlier. It pays an average of 1.30% on its deposits and borrowings, lower than about three-quarters of the 895 banks with $1 billion to $10 billion in assets (median 2.01%). On the other hand, it holds common equity equal to 11.45% of its risk-weighted assets, lower than about three-quarters of banks its size (median 13.52%).
Delinquency has appeared in its $670 million non-owner-occupied commercial real estate book: 2.08% of those loans are past due or on nonaccrual, against almost none a year earlier. Net income for the quarter rose 11% from a year earlier, to $20 million. One more trend to watch: delinquency has appeared in its $646 million commercial and industrial book: 0.62% of those loans are past due or on nonaccrual, against almost none a year earlier.
As of June 30, 2026, Independent Bank reported a CET1 capital ratio of 11.45%, a return on assets of 1.42%, a nonperforming-loan ratio of 0.99% and a Texas ratio of 6.03%, according to its call report filed with the FFIEC.
Headquarters Profile
- Address
- 4200 E Beltline Ave Ne, Grand Rapids, MI 49525
- County
- Kent
- Metro Area
- Grand Rapids-Wyoming-Kentwood, MI
- Charter
- Commercial bank, state charter, Fed member, FRB-supervised
- Primary Regulator
- Federal Reserve
- FDIC Region
- Chicago (Region 9)
- Federal Reserve member
- Yes
- Federal Reserve district
- District 7, Chicago
- Fiduciary (trust) powers
- Trust powers not granted
- Call Report form
- FFIEC 041
- Established
- January 1, 1890
- Former names
- Independent Bank MSB (1999-2001); Mutual Savings Bank, F.S.B. (1991-1999); Mutual Savings and Loan Association, F.A. (1985-1990)
- Offices
- 59 domestic
- Employees (FTE)
- 796
- Domestic deposits
- $4.93B
- Allowance for credit losses
- $65.7M
- Net charge-offs (YTD)
- $633K
- Average total assets
- $5.59B
- Average total loans
- $4.37B
- Average interest-bearing deposits
- $4.60B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- No
- FDIC-insured since
- August 9, 1989
- FDIC Cert
- 27811
- Fed RSSD
- 636771
- SEC CIK
- 39311 → filed by INDEPENDENT BANK CORPORATION
- Website
- www.independentbank.com →
- Parent Holding Company
- INDEPENDENT BANK CORPORATION (RSSD 1201925) · IBCP
Management
Senior officers at parent holding company, from SEC Form 3/4/5 disclosures
| Name | Role | Title |
|---|---|---|
| William B Kessel | CEO | President & CEO |
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Rows tagged YTD are fiscal year to date through June 30, 2026, as filed. Net income is tagged Q2 because it is that quarter's own figure, not a running total, so it cannot be compared with a YTD row. ROA, ROE and net interest margin are the quarter's own income, annualized. The UBPR and FDIC annualize the year to date instead, so after the first quarter their figures differ from ours; where the UBPR has this quarter, its value is shown beside each as YTD. The UBPR's YTD ROA divides by the average of the quarterly average assets the bank reports on Schedule RC-K, while FDIC BankFind divides by the average of quarter-end total assets, so FDIC's ROA can differ from the YTD figure by a few hundredths of a point.
Quarterly trends
Last 12 quarters from this bank's own FFIEC call reports. Dollar figures are the quarter's own amount: the income statement is filed year to date, so those lines are shown net of the preceding quarter.
Balances at each quarter end. The gap between the two lines is equity capital.
Balances at each quarter end. Loans rising toward deposits is the loan-to-deposit ratio tightening.
Balances at each quarter end. Each line is its own balance, not stacked on the other.
Each bar is that quarter alone. The gap between the two is net interest income.
What the balance sheet earned on spread that quarter, before fees and operating costs.
Fees, trading and other income against salaries, premises and the rest of the cost base.
What the bank charged to earnings that quarter to build its allowance for expected losses.
Net income for the quarter alone. The Call Report reports it year to date; this series converts it to the single quarter, so each bar covers three months.
CET1 is common equity tier 1 as a share of risk-weighted assets; the leverage ratio is tier 1 capital as a share of average total assets. A bank that files the community bank leverage ratio reports no CET1 ratio, so only its leverage line appears.
Inside the full Independent Bank terminal
26 years of quarterly trends · 8 tabs · peer percentiles · Excel export
Unlock Independent Bank, freeIndependent Bank rankings
How this bank ranks on each leaderboard. Click any rank to see the full ranked list.
Ranked among banks that report this metric, so the total differs from card to card. The CET1 ranking leaves out community bank leverage ratio filers, which report no CET1 ratio.
Quarterly trend: last 8 quarters
Quarter-over-quarter movement in the five most-watched ratios. Sourced from the bank's own FFIEC call report filings.
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 11.45% | 1.42% | 0.99% | 6.03% | 3.71% |
| Q1 2026 | 11.43% | 1.26% | 0.87% | 5.29% | 3.64% |
| Q4 2025 | 11.24% | 1.38% | 0.77% | 4.55% | 3.62% |
| Q3 2025 | 11.33% | 1.36% | 0.54% | 4.03% | 3.62% |
| Q2 2025 | 11.90% | 1.32% | 0.25% | 1.65% | 3.61% |
| Q1 2025 | 11.93% | 1.20% | 0.22% | 1.45% | 3.50% |
| Q4 2024 | 11.74% | 1.44% | 0.19% | 1.36% | 3.48% |
| Q3 2024 | 11.74% | 1.10% | 0.18% | 1.17% | 3.40% |
Swipe the table sideways to see every column.
Branch Network
Every branch from the FDIC Summary of Deposits, listed with the deposits booked at each location. The FDIC's office count above also includes administrative and limited-service offices, so the two totals can differ. View all 59 branches →
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Troy Main Branch | Troy , MI | 48084 | $382.2M |
| Independent Bank (main office) | Grand Rapids , MI | 49525 | $171.2M |
| Garfield Avenue Branch | Traverse City , MI | 49686 | $156.8M |
| East Lansing Branch | East Lansing , MI | 48823 | $153.8M |
| Ionia Point Branch | Ionia , MI | 48846 | $142.6M |
| Northgate Branch | Bad Axe , MI | 48413 | $134.2M |
| Traverse City Branch | Traverse City , MI | 49684 | $129.9M |
| Shelby Township Branch | Shelby Township , MI | 48317 | $126.6M |
| Caro Branch | Caro , MI | 48723 | $125.9M |
| Bay City Branch | Bay City , MI | 48708 | $125.3M |
| Farmington Hills Branch | Farmington Hills , MI | 48334 | $120.0M |
| Charlotte Branch | Charlotte , MI | 48813 | $110.9M |
| Cedar Springs Branch | Cedar Springs , MI | 49319 | $106.7M |
| Copper Ridge Branch | Traverse City , MI | 49684 | $106.0M |
| Livonia Branch | Livonia , MI | 48154 | $104.8M |
| Bay City Euclid Branch | Bay City , MI | 48706 | $101.3M |
| Cascade Road Branch | Grand Rapids , MI | 49546 | $99.8M |
| Rockford Branch | Rockford , MI | 49341 | $95.0M |
| Newaygo Branch | Newaygo , MI | 49337 | $94.1M |
| Holland Branch | Holland , MI | 49424 | $89.9M |
| Sparta Branch | Sparta , MI | 49345 | $87.2M |
| Sebewaing M-25 Branch | Sebewaing , MI | 48759 | $84.1M |
| Saginaw State St Branch | Saginaw , MI | 48602 | $81.4M |
| Standish Branch | Standish , MI | 48658 | $80.9M |
| White Cloud Branch | White Cloud , MI | 49349 | $79.9M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| April 1, 2018 | Structure Change | Acquired Traverse City State Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| April 1, 2018 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| December 1, 2010 | Structure Change | Acquired Independent Mortgage Company Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| September 15, 2007 | Structure Change | Acquired Independent Bank - South Michigan Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| September 15, 2007 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| July 1, 2004 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| July 1, 2004 | Structure Change | Acquired First National Bank of Gaylord Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| September 15, 2001 | Structure Change | Acquired Independent Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| September 14, 2001 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| January 31, 1986 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| December 1, 1985 | Structure Change | Acquired Peoples Savings and Loan Association of Battle Creek Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 11 events, scroll the table for the full history.
Regulatory record
What the public regulatory sources show for Independent Bank, each with its period and source. These are facts as filed or published, not a rating or score. "Not on file" means we hold no record from that source, which is not the same as a clean record.
- Enforcement actions
- None against the institution on file; 2 against individuals associated with it
- Period: Most recent action April 11, 2011. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- 1.6% of deposits in MI, rank 9 of 98 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 3,490 applications, 2,357 loans originated, $647.0M originated, across 6 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 42 loans, $34.7M approved, $827K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Consumer complaints
- Not on file: no CFPB complaints matched
- Period: not on file. Source: CFPB consumer complaint database.
- CFPB enforcement
- Not on file: CFPB enforcement actions are not loaded
- Period: not on file. Source: CFPB enforcement actions.
- CRA examination rating
- Not on file: FFIEC CRA ratings are not loaded
- Period: not on file. Source: FFIEC CRA ratings.
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Frequently asked about Independent Bank
What are Independent Bank's total assets?
As of the Q2 2026 filing, Independent Bank reported total assets of $5.66 billion in its FFIEC call report. All figures come directly from the bank's quarterly Schedule RC filing.
Where is Independent Bank headquartered?
Independent Bank is headquartered in Grand Rapids, MI, United States. It files quarterly FFIEC call reports, as every FDIC-insured commercial bank must.
When was Independent Bank founded?
Independent Bank was established in 1890, per the FDIC institution directory.
Is Independent Bank FDIC-insured?
Yes. Independent Bank is an FDIC-insured commercial bank (FDIC Certificate #27811). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Independent Bank?
Independent Bank's primary federal regulator is the Federal Reserve. All FDIC-insured banks also report to the FDIC and, depending on charter, the Federal Reserve.
What is Independent Bank's CET1 capital ratio?
Independent Bank reported a Common Equity Tier 1 (CET1) capital ratio of 11.45% in its Q2 2026 call report, above regulatory requirements.
How many branches does Independent Bank operate?
Independent Bank operates 59 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Independent Bank's Texas Ratio?
Independent Bank's Texas Ratio is 6.03% in its Q2 2026 call report, within the healthy range (under 25%). The Texas Ratio measures non-performing assets against the bank's capital and reserves; the glossary entry for the Texas Ratio carries the full definition.
What was Independent Bank previously called?
The charter now named Independent Bank has also operated as Independent Bank MSB (1999-2001), Mutual Savings Bank, F.S.B. (1991-1999), Mutual Savings and Loan Association, F.A. (1985-1990), per FDIC structure-change records.
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