Independent Bank (Grand Rapids, MI)
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Data as of · sourced from FFIEC call reports. How we update
Independent Bank is an FDIC-insured commercial bank headquartered in Grand Rapids, MI, established in 1890 (FDIC certificate 27811), and it is supervised by the Federal Reserve. At Q2 2026 it reported total assets of $5.66B, up 4.5% from Q2 2025, the 4th largest of 72 banks headquartered in Michigan. Its CET1 capital ratio was 11.45% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- Federal Reserve
- Deposit insurance
- FDIC
- FDIC certificate
- 27811
- Headquarters
- Grand Rapids, MI
- Established
- 1890
- Total assets, Q2 2026
- $5.66B
- Assets vs Q2 2025
- +4.5%
- CET1 ratio, Q2 2026
- 11.45%
- Domestic offices
- 59 FDIC institution directory, current count
- Routing number
- 072402652
- Latest call report
- Q2 2026, FFIEC 041 · Independent Bank call report
- Holding company
- INDEPENDENT BANK CORPORATION
- Asset rank in state
- 4th of 72 in Michigan
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%. The figures come from its call report filed with the FFIEC.
Of the 72 banks headquartered in Michigan, Independent Bank is the 4th largest by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets rose 1.9% to $5.66B, loans rose 2.4% and deposits fell 0.3%. The largest part of its loan book on June 30, 2026 was 1-4 family residential loans, at 34.9% of total loans, ahead of owner-occupied commercial real estate loans at 15.1%. The FDIC Summary of Deposits lists 59 offices for it, in 49 cities in MI; its Traverse City 3 offices book 8% of its branch deposits. By the capital ratios in its Q2 2026 call report, Independent Bank meets every capital ratio test for well capitalized.
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)
- Domestic offices
- 59 FDIC institution directory, current count
- 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
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
From Q3 2023 to Q2 2026, Independent Bank's total assets ranged from $5.20B (Q3 2023) to $5.66B (Q2 2026), and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$5.66B total assets against $5.41B; $5.14B total liabilities against $4.92B.
$4.37B net loans and leases against $4.12B; $4.93B total deposits against $4.73B.
$782.7M securities against $838.9M; $165.4M cash and balances due against $146.2M.
$67.4M total interest income against $67.0M; $18.7M total interest expense against $21.1M.
$48.7M net interest income against $45.9M.
$13.7M total noninterest income against $11.3M; $37.2M total noninterest expense against $34.1M.
$2.7M provision for credit losses against $1.1M.
$19.9M net income against $17.8M.
1.42% return on assets against 1.32%; 3.71% net interest margin against 3.61%.
11.45% CET1 capital ratio against 11.90%; 9.67% tier 1 leverage ratio against 9.79%.
Inside the full Independent Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeIndependent Bank rankings
Its closest position to the top of a national ranking is 253 of 4,196, for total assets; its furthest is 1,855 of 2,134, for CET1 ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 1.10% (Q3 2024) to 1.44% (Q4 2024) and its net interest margin ran from 3.40% (Q3 2024) to 3.71% (Q2 2026).
| 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
View all 59 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| 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
Facts as filed or published, not a rating.
- 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 95 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).
- Not on file
- Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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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.
Where is Independent Bank headquartered?
It is headquartered in Grand Rapids, MI, United States.
When was Independent Bank founded?
It was established in 1890, per the FDIC institution directory.
Is Independent Bank FDIC-insured?
Yes. It 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.
What is Independent Bank's CET1 capital ratio?
It 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?
It 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?
Its Texas Ratio is 6.03% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
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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