Independent Bank Corporation Overview
Industry: Banks Regional
Sector: Financial Services
Independent Bank Corporation operates as the bank holding company for Independent Bank that provides various banking services to individuals and businesses in Eastern Massachusetts, as well as Worcester County and Rhode Island. It offers checking and saving accounts, and certificates of deposit; personal and home equity line of credit; and secured, unsecured, boat, auto, RV, and student loans, as well as term, commercial real estate, and equipment and vehicle loans. The company provides debit and credit card services, loan payments, e-services, and treasury management services, as well as night depository, telephone banking, insured cash sweep, and lockbox services. In addition, it invests in low-income housing tax credit projects; holds, maintains, and disposes foreclosed properties; and provides investment advisor and like-kind exchange services. The company was founded in 1864 and is headquartered in Grand Rapids, Michigan.
Independent Bank Corporation is evaluated using Mavefund's quality framework: growing earnings, durable profit margins, conservative leverage, strong return on equity, and disciplined share repurchases.
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