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Balance Sheet Cash Flow Statement 230 W. Main St. Ionia, MI 48846 MI Tel. 616-527-9450 Fax 616-527-4004 |
Type: Public
On the web:
http://www.independentbank.com
Employees:
1,305
Employee growth: (2.5%)
Independent Bank Corporation strikes out on its own. As the holding company for Independent Bank, it serves customers in rural and suburban communities of Michigan's Lower Peninsula from about more than 100 branches and about 10 loan production offices. The bank offers traditional retail products, including checking and savings accounts and certificates of deposit; its IBC Financial Services subsidiary offers insurance, and Independent Title Services provides title insurance. Another subsidiary, Mepco Finance, provides payment plans for extended automobile warranties. Real estate loans make up about 70% of the company's loan portfolio, followed by consumer installment loans and commercial loans.
Key numbers for fiscal year ending December, 2008:
Sales: $159.9M
One year growth: (4.7%)
Net income: ($91.7)M
Officers:
Chairman: Robert L. Hetzler
President, CEO, and Director: Michael M. Magee Jr.
EVP and COO: William B. (Brad) Kessel
Competitors:
Chemical Financial
Fifth Third
Flagstar Bancorp
