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Performance Ratios (%) IBCP Peer Median Peer Average
ROAA 1.41 1.25 1.17
ROAE 15.14 9.64 9.67
Net Interest Margin 3.49 3.34 3.42
Efficiency Ratio 58.87 56.25 56.19
Loans / Deposits 79.37 87.86 85.91
Asset Quality Ratios (%)
NPAs / Assets 1.37 0.55 0.53
NCOs / Avg Loans 0.11 0.07 0.11
Reserves / Loans 1.21 1.07 1.13
Reserves / NPAs 62.66 137.34 133.31
Capital Ratios (%)
Tier 1 Capital 13.00 14.07 14.44
Tangible Equity / Tangible Assets 8.23 9.51 9.79
Total Equity / Total Assets 8.95 11.56 11.39
Market Ratios
Price / Earnings (x) 6.16 9.55 10.54
Price / Book (%) 86.05 82.40 89.39
Dividend Yield (%) 5.45 3.85 3.65
Data for trailing four quarters

Independent Bank Corporation's peer group consists of the following: First Financial Corporation (THFF), First Mid Bancshares, Inc. (FMBH), Macatawa Bank Corporation (MCBC), Mercantile Bank Corporation (MBWM), Nicolet Bankshares, Inc. (NCBS), Peoples Bancorp Inc. (PEBO), United Community Financial Corp.

Independent Bank Corporation's financial data is as of 9/30/2020.

Peer financial data is as of 9/30/2020 except for these companies:

First Mid Bancshares, Inc.'s financial data is as of 6/30/2020.
United Community Financial Corp.'s financial data is as of 12/31/2019.

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