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Insurance products are not insured by FDIC or any Federal Government Agency; are not a deposit of, or guaranteed by the Bank or any Bank Affiliate; and may lose value. Any insurance required as a condition of the extension of credit by Independent Bank need not be purchased from our Agency but may, without affecting the approval of the application for an extension of credit, be purchased from an agent or insurance company of the customer’s choice

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As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 3/31/2019 USD 2019 Q1 YTD 3/31/2019 USD
Source Document Currency Code 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 3/31/2019 USD 2019 Q1 YTD 3/31/2019 USD

Assets

Cash and due from banks 54,260 35,238 36,994 23,350 33,247
Interest bearing deposits 31,523 47,956 17,744 46,894 38,376
Cash and Cash Equivalents 85,783 83,194 54,738 70,244 71,623
Interest bearing deposits - time 11,866 5,591 2,739 595 496
Equity securities at fair value NA NA 0 393 0
Trading securities 148 410 455 NA NA
Securities available for sale 585,484 610,616 522,925 427,926 461,531
Federal Home Loan Bank and Federal Reserve Bank stock, at cost 15,471 15,543 15,543 18,359 18,359
Loans held for sale, carried at fair value 27,866 35,946 39,436 44,753 43,098
Payment plan receivables and other assets held for sale 0 33,360 NA NA NA
Loans held for sale, carried at lower of cost or fair value NA NA 0 41,471 0

Loans

Commercial 748,398 804,017 853,260 1,144,481 1,168,404
Mortgage 498,036 538,615 849,530 1,042,890 1,043,745
Installment 234,017 265,616 316,027 395,149 406,646
Payment plan receivables 34,599 NA NA NA NA
Total Loans 1,515,050 1,608,248 2,018,817 2,582,520 2,618,795
Allowance for loan losses (22,570) (20,234) (22,587) (24,888) (25,254)
Net Loans 1,492,480 1,588,014 1,996,230 2,557,632 2,593,541
Other real estate and repossessed assets, net 7,150 5,004 1,643 1,299 1,338
Property and equipment, net 43,103 40,175 39,149 38,777 37,985
Bank-owned life insurance 54,402 54,033 54,572 55,068 55,310
Deferred tax assets, net 39,635 32,818 15,089 5,779 2,866
Capitalized mortgage loan servicing rights 12,436 13,671 15,699 21,400 19,909
Vehicle service contract counterparty receivables, net 7,229 NA NA NA NA
Other intangibles 2,280 1,932 1,586 6,415 6,143
Goodwill NA NA 0 28,300 28,300
Accrued income and other assets 23,733 28,643 29,551 34,870 43,107
Total Assets 2,409,066 2,548,950 2,789,355 3,353,281 3,383,606

Liabilities and Shareholders' Equity

Deposits

Non-interest bearing 659,793 717,472 768,333 879,549 858,261
Savings and interest-bearing checking 988,174 1,015,724 1,064,391 1,194,865 1,207,965
Reciprocal 50,207 38,657 50,979 182,072 267,178
Time 387,789 453,866 374,872 385,981 388,729
Brokered time NA 0 141,959 270,961 212,092
Total Deposits 2,085,963 2,225,719 2,400,534 2,913,428 2,934,225
Other borrowings 11,954 9,433 54,600 25,700 25,714
Subordinated debentures 35,569 35,569 35,569 39,388 39,405
Other liabilities held for sale 0 718 NA NA NA
Accrued expenses and other liabilities 24,488 28,531 33,719 35,771 39,536
Total Liabilities 2,157,974 2,299,970 2,524,422 3,014,287 3,038,880

Shareholders' Equity

Preferred stock 0 0 0 0 0
Common stock 339,462 323,745 324,986 377,372 374,678
Accumulated deficit (82,334) (65,657) (54,054) (28,270) (23,135)
Accumulated other comprehensive loss (6,036) (9,108) (5,999) (10,108) (6,817)
Total Shareholders' Equity 251,092 248,980 264,933 338,994 344,726
Total Liabilities and Shareholders' Equity 2,409,066 2,548,950 2,789,355 3,353,281 3,383,606
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.