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IBCP on Nasdaq

Independent Financial

Logo: https://www.independentbank.com/, Non-free logo, via Wikipedia5

American Bank

Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.3 Its shares trade on Nasdaq under the symbol IBCP.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

Sep 1973Founded1

Compare with Investors Bank, BAR HARBOR BANKSHARES or ORRSTOWN FINANCIAL SERVICES INC, or pick any stock.

  • TickerIBCP on Nasdaq1
  • Industrybank1
  • HeadquartersGrand Rapids1
  • Websitewww.independentbank.com
  • Incorporated inMI6
  • Business address98 Ottawa Ave Nw, Grand Rapids, Mi 495036
  • Filer categoryAccelerated filer6
  • Legal formCommercial Bank4
  • LEI20TVKH7M13MUBGE80C534
  • StatusActive4
  • LEI statusIssued and current4
  • Registered address4200 E Beltline Ave Ne, 49525 Grand Rapids, United States4
  • Registered withFederal Deposit Insurance Corporation, 278114

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Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

213.7%Net margin9
0.3%Revenue growth, 20259
13.6%Return on equity9
$70.2MFree cash flow9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Interchange Income brought in 43% of the revenue Independent Financial broke down this way in fiscal 2025.

  1. Interchange Income$13.9M943%down 1% from 2024
  2. Service Charges On Deposits$12.0M937%up 1% from 2024
  3. Other Deposit Related Income$2.7M98%down 6% from 2024
  4. Transaction Based Revenue$1.9M96%up 32% from 2024
  5. Asset Management Revenue$1.6M95%down 11% from 2024
Products and services by year
Products and services202320242025
Interchange Income$14.0M$14.0M$13.9M
Service Charges On Deposits$12.4M$11.9M$12.0M
Other Deposit Related Income$3.1M$2.8M$2.7M
Transaction Based Revenue$1.6M$1.4M$1.9M
Asset Management Revenue$1.9M$1.8M$1.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Income tax16¢$12.8M
  • Profit84¢$68.5M

Out of $32.1M in revenue.9

Where each dollar of operating cash went, fiscal 2025

  • Capital spending8¢$6.5M
  • Dividends paid28¢$21.6M
  • Share buybacks16¢$12.4M
  • Kept or used elsewhere47¢$36.1M

Out of $76.7M of cash from operations.9

Financial statements

Revenue101112139$32.1M in 2025+24% since 2019
0$10.0M$20.0M$30.0M$40.0M2019: $26.0M$26.0M20192020: $24.0M$24.0M2020−7%2021: $29.1M$29.1M2021+21%2022: $31.6M$31.6M2022+9%2023: $32.9M$32.9M2023+4%2024: $32.0M$32.0M2024−3%2025: $32.1M$32.1M2025+0%
Net income101112139$68.5M in 2025+48% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $46.4M$46.4M20192020: $56.2M$56.2M2020+21%2021: $62.9M$62.9M2021+12%2022: $63.4M$63.4M2022+1%2023: $59.1M$59.1M2023−7%2024: $66.8M$66.8M2024+13%2025: $68.5M$68.5M2025+3%

Every line of the income statement as filed: the last 3 fiscal years (annual) or 8 quarters (quarterly), latest first.9

Period ending2025-12-312024-12-312023-12-31
Interest and fees on loans$238.8M$228.6M$197.7M
Taxable$15.0M$18.9M$23.3M
Tax-exempt$10.9M$13.1M$13.2M
Other investments$5.0M$6.2M$5.4M
Total Interest Income$269.7M$266.8M$239.7M
Deposits$83.5M$92.7M$75.1M
Other borrowings and subordinated debt and debentures$6.2M$7.8M$8.3M
Total Interest Expense$89.7M$100.5M$83.3M
Net Interest Income$180.0M$166.2M$156.3M
Provision for credit losses$6.1M$4.5M$6.2M
Net Interest Income After Provision for Credit Losses$173.9M$161.8M$150.1M
Interchange income$13.9M$14.0M$14.0M
Service charges on deposit accounts$12.0M$11.9M$12.4M
Mortgage loans$6.8M$6.6M$7.4M
Equity securities at fair value$0$2.7M$0
Securities available for sale-$370.0K-$428.0K-$222.0K
Mortgage loan servicing, net$827.0K$9.4M$4.6M
Other$12.5M$12.2M$12.5M
Total Non-interest Income$45.6M$56.4M$50.7M
Compensation and employee benefits$85.2M$85.0M$79.0M
Data processing$14.8M$13.6M$11.9M
Occupancy, net$8.6M$7.8M$7.9M
Interchange expense$4.6M$4.5M$4.3M
Furniture, fixtures and equipment$3.5M$3.8M$3.8M
Advertising$3.2M$3.1M$2.2M
FDIC deposit insurance$2.8M$2.9M$3.0M
Loan and collection$2.7M$2.5M$2.2M
Legal and professional$2.4M$2.6M$2.2M
Communications$2.0M$2.1M$2.4M
Other$8.4M$7.4M$8.3M
Total Non-interest Expense$138.2M$135.1M$127.1M
Income Before Income Tax$81.3M$83.0M$73.7M
Income tax expense$12.8M$16.3M$14.6M
Net Income$68.5M$66.8M$59.1M
Basic (in dollars per share)$3.30$3.20$2.82
Diluted (in dollars per share)$3.27$3.16$2.79

Compare Independent Financial with another company

Corporate structure

Independent Financial sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Independent Financial

  • FMR LLC Filed SCHEDULE 13G/A on Independent Financial, latest May 6, 2026 (2 filings since Feb 12, 2025)
  • VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Independent Financial, latest Apr 30, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Independent Financial, latest Mar 27, 2026 (4 filings since Feb 10, 2022)
  • BlackRock Portfolio Management LLC Filed SCHEDULE 13G on Independent Financial, latest Apr 15, 2025
  • BlackRock Filed SCHEDULE 13G/A on Independent Financial, latest Mar 7, 2025 (6 filings since Jan 25, 2022)
  • FJ Capital Management LLC Filed SCHEDULE 13G/A on Independent Financial, latest Nov 13, 2024 (4 filings since Feb 11, 2022)
  • Independent Financial Grand Rapids, Michigan, United States
    • (a subsidiary of Independent Bank Corporation) Subsidiary · Michigan, United States
    • Grand Rapids, Michigan Subsidiary · Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Independent Financial reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$167.5M9 Dec 31, 2025$161.4M9 Dec 31, 2024+3.8%
Accumulated depreciation$128.5M9 Dec 31, 2025$123.9M9 Dec 31, 2024+3.7%
Property and equipment, net$39.0M9 Dec 31, 2025$37.5M9 Dec 31, 2024+3.9%
Operating-lease assets (leased space)$7.3M9 Dec 31, 2025$6.0M9 Dec 31, 2024+22.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$138.4M9 Dec 31, 2025$119.9M9 Dec 31, 2024+15.4%
Loans, net of allowance$4.2B9 Dec 31, 2025$4.0B9 Dec 31, 2024+5.9%
Deposits held (banks)$4.8B9 Dec 31, 2025$4.7B9 Dec 31, 2024+2.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$28.3M9 Dec 31, 2025$28.3M9 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$1.0M9 Dec 31, 2025$1.5M9 Dec 31, 2024−32.7%
Finite-lived intangibles, gross$11.9M9 Dec 31, 2025$11.9M9 Dec 31, 20240%
Accumulated amortization$10.9M9 Dec 31, 2025$10.4M9 Dec 31, 2024+4.7%
Finite-lived intangibles, net$1.0M9 Dec 31, 2025$1.5M13 Dec 31, 2024−32.7%

Properties, in its own words

We and our bank operate a total of 79 facilities in Michigan and one leased facility in Ohio. We own 56 and lease 23 of the facilities in Michigan.

With the exception of the potential remodeling of certain facilities to provide for the efficient use of workspace or to maintain an appropriate appearance, each property is considered reasonably adequate for current and anticipated needs.

Item 2 of the 10-K filed Mar 6, 2026.17

The story

The bank traces its roots to First National Bank of Ionia, which was founded in 1864.

In 1896, relinquished its national charter and obtained a state charter, reorganized as State Savings Bank of Ionia.

in 1952, changed name to First Security Band.

In 1974, Independent Bank Corporation was established as the bank holding company.

In 1985, Independent Bank Corporation joined the NASDAQ stock exchange.

In 2003, the company acquired Mepco Insurance Premium Finance. Mepco was sold in 2017.

In March 2007, the bank acquired 10 branches from TCF Financial Corporation.

In December 2008, the bank received a $72 million investment from the United States Department of the Treasury as part of the Troubled Asset Relief Program. The investment was returned in 2013.

Read the full text

In December 2012, the bank sold 21 branches to Chemical (now TCF Financial Corporation).

In 2015, the bank closed 6 branches.

In 2018, the bank acquired Traverse City State Bank.

From Wikipedia’s article on Independent Bank (Michigan), shared under CC BY-SA 4.0.7

Leadership

Who has led Independent Financial, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Ronald L. Long2003
  2. Loan Charles C. Van2003–2004
  3. David C. Reglin2003–2007
  4. Edward B. Swanson2003
  5. Michael M. Magee Jr.2005–2013
  6. William B. Kessel2013–now

Chair

  1. Loan Charles C. Van2005
  2. Michael M. Magee Jr.2013–2014

President

  1. Ronald L. Long2003–2007
  2. Loan Charles C. Van2003–2004
  3. David C. Reglin2003–2007
  4. Edward B. Swanson2003–2005
  5. Michael M. Magee Jr.2004–2011
  6. William B. Kessel2004–now

Chief financial officer

  1. Robert N. Shuster2003–2020
  2. Stephen A. Erickson2020
19801990200020102020
Board members and other officers (43)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • (a subsidiary of Independent Bank Corporation) Michigan8
  • (a subsidiary of Independent Bank) Michigan8
  • Grand Rapids, Michigan Delaware8

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Jul 27, 20268-K Executive or director change73
  2. Jul 23, 20268-K Results of operations74
  3. Jun 18, 20268-K Other events75
  4. Jun 12, 20268-K Other events76
  5. Apr 29, 20268-K Regulation FD disclosure77
  6. Apr 24, 20268-K Shareholder vote78
  7. Apr 23, 20268-K Results of operations79
  8. Apr 21, 20268-K Regulation FD disclosure80
  9. Mar 18, 20268-K Entered a material agreement; Regulation FD disclosure81
  10. Jan 22, 20268-K Results of operations82
  11. Dec 19, 20258-K Executive or director change83
  12. Nov 5, 20258-K Regulation FD disclosure84
  13. Jan 11, 2013New chief executive William B. Kessel becomes CEO18
  14. Jan 31, 2005New chief executive Michael M. Magee Jr. becomes CEO19
  15. Oct 29, 2003New chief executive Edward B. Swanson becomes CEO23
  16. Aug 11, 2003New chief executive David C. Reglin becomes CEO22
  17. Aug 8, 2003New chief executive Loan Charles C. Van becomes CEO21
  18. Aug 6, 2003New chief executive Ronald L. Long becomes CEO20
  19. Sep 1973Founded Founded1

Calendar

Coming up

  1. Oct 27, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $0.84 a share, on Oct 28, 2025.85

When it reported results

  1. Jul 23, 2026Reported quarterly or annual results74
  2. Apr 23, 2026Reported quarterly or annual results79
  3. Jan 22, 2026Reported quarterly or annual results82
  4. Oct 28, 2025Reported quarterly or annual results86
  5. Jul 24, 2025Reported quarterly or annual results87
  6. Apr 24, 2025Reported quarterly or annual results88
  7. Jan 23, 2025Reported quarterly or annual results89
  8. Oct 24, 2024Reported quarterly or annual results90

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

426 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 40 major events, 308 insider forms, 18 large holders, 40 other. The latest 20:

  1. Oct 2, 20264 EDGAR
  2. Oct 2, 20264 EDGAR
  3. Oct 2, 20264 EDGAR
  4. Oct 2, 20264 EDGAR
  5. Oct 2, 20264 EDGAR
  6. Oct 2, 20264 EDGAR
  7. Oct 2, 20264 EDGAR
  8. Oct 2, 20264 EDGAR
  9. Oct 2, 20264 EDGAR
  10. Sep 16, 20264 EDGAR
  11. Sep 15, 2026144 EDGAR
  12. Aug 20, 20264 EDGAR
  13. Aug 10, 20264 EDGAR
  14. Aug 5, 202610-Q EDGAR
  15. Aug 4, 20264 EDGAR
  16. Jul 27, 20263 EDGAR
  17. Jul 27, 20268-K EDGAR
  18. Jul 23, 20268-K EDGAR
  19. Jul 2, 20264 EDGAR
  20. Jul 2, 20264 EDGAR

The 426 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

38 open-market trades by officers, directors and large owners since October 2021: 17 buys and 21 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 15, 2026Kessel William BPresident & CEOSale2,000$37.28$74.6KForm 4
Aug 19, 2026Kreter KristopherFirst Vice Pres. & ControllerSale300$37.11$11.1KForm 4
Aug 10, 2026TWAROZYNSKI JAMES JSenior Vice PresidentSale489$37.67$18.4KForm 4
Jun 9, 2026Ervin Patrick JExecutive Vice PresidentSale2,500$35.40$88.5KForm 4
May 29, 2026Kimball Stefanie MExecutive Vice PresidentSale1,400$34.41$48.2KForm 4
Feb 24, 2026Kruse Ronia FDirectorBuy1,200$35.27$42.3KForm 4
Dec 12, 2025Ervin Patrick JExecutive Vice PresidentSale3,000$34.64$103.9KForm 4
Nov 21, 2025Archer Dennis W. JrDirectorBuy500$31.57$15.8KForm 4
Nov 21, 2025TWAROZYNSKI JAMES JSenior Vice PresidentSale486$31.64$15.4KForm 4
Sep 3, 2025Kimball Stefanie MExecutive Vice PresidentSale1,400$32.64$45.7KForm 4
Aug 5, 2025Mohr Gavin A.Executive Vice PresidentBuy2,000$29.64$59.3KForm 4
Jun 13, 2025Beia Terance LDirectorBuy1,821$30.65$55.8KForm 4
Apr 29, 2025MAGEE MICHAEL M JRDirectorSale6,404$31.00$198.5KForm 4
Dec 3, 2024Ervin Patrick JExecutive Vice PresidentBuy275$37.94$10.4KForm 4
Nov 25, 2024Daniel Larry R JrExecutive Vice PresidentSale3,851$39.15$150.8KForm 4
Nov 20, 2024Mohr Gavin A.Executive Vice PresidentBuy800$36.71$29.4KForm 4
Sep 12, 2024Keller ChristinaDirectorSale1,400$32.85$46.0KForm 4
Sep 3, 2024Kimball Stefanie MExecutive Vice PresidentSale1,000$34.22$34.2KForm 4
Aug 2, 2024Keller ChristinaDirectorSale1,000$32.76$32.8KForm 4
Jun 14, 2024Keller ChristinaDirectorSale2,400$23.62$56.7KForm 4

All 38 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025William B. Kessel$644.2K$1.6M97
2025Gavin A. Mohr$349.0K$673.7K97
2025Joel F. Rahn$328.9K$639.8K97
2025Stefanie M. Kimball$319.3K$625.6K97
2025Patrick J. Ervin$310.0K$606.0K97
2024President and Chief$602.1K$1.4M97
2024Executive VicePresident and$323.1K$658.7K97
2023Executive Officer$568.0K$1.1M97
2023Chief Risk Officer$301.0K$553.3K97
2023Mortgage Banking$298.0K$544.2K97
2023Chief Financial Officer$302.0K$542.6K97
2023Commercial Lending$290.0K$513.3K97

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.2,984,939$107.7M0.0%+91,860
Dimensional Fund Advisors LP890,443$32.1M0.0%+29,296
Vanguard Capital Management LLC879,625$31.7M0.0%−25,575
State Street Corp824,463$29.7M0.0%+111,277
American Century Companies Inc780,992$28.2M0.0%+67,729
Charles Schwab Investment Management Inc697,724$25.2M0.0%+74,697
Renaissance Technologies LLC617,500$22.3M0.0%+35,209
Geode Capital Management, LLC537,677$19.4M0.0%+34,247
Goldman Sachs Group Inc415,987$15.0M0.0%−127,163
Manufacturers Life Insurance Company, The380,322$13.7M0.0%−2,712
Vanguard Portfolio Management LLC346,624$12.5M0.0%+21,334
Jpmorgan Chase & Co344,118$12.4M0.0%+30,689
Qube Research & Technologies Ltd338,633$12.2M0.0%+130,649
Nuveen, LLC329,514$11.9M0.0%−1,339
PL Capital Advisors, LLC318,985$11.5M3.2%No change
Two Sigma Investments, LP318,638$11.5M0.0%−31,733
Principal Financial Group Inc273,132$9.9M0.0%−21,443
Morgan Stanley252,470$9.1M0.0%+66,389
Allspring Global Investments Holdings, LLC219,926$7.9M0.0%−4,519
Northern Trust Corp219,284$7.9M0.0%+19,476
Citadel Advisors LLC211,161$7.6M0.0%+124,804
FJ Capital Management LLC203,607$7.3M1.0%No change
Arrowstreet Capital, Limited Partnership202,718$7.3M0.0%+21,203
Hotchkis & Wiley Capital Management LLC191,750$6.9M0.0%+7,440
ProShare Advisors LLC191,362$6.9M0.0%+7,344

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Independent Financial is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARINDEPENDENT BANK CORP /MI/2
  • CIK0000039311
  • Employer ID (EIN)38-203278217
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company17
  • Incorporated inMichigan17
  • Fiscal year endsDecember 312
  • Industry code (SIC)6022 State Commercial Banks2
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance2
  • Business address98 Ottawa Ave Nw, Grand Rapids, MI 495032
  • Phone80035506412
  • Shares outstanding22,199,295 as of Aug 4, 202615
  • Public float$655.0M as of 17
  • On EDGAR sinceMar 17, 19952
  • Filings2,145 in all: 4 (1,410), 8-K (271), 10-Q (95), DEF 14A (34), SC 13G/A (32), 3 (29), 10-K (28), CORRESP (21)2
    All 53 form types

    425 (17), UPLOAD (17), SC 13G (15), 424B3 (14), 4/A (13), 144 (12), S-4/A (11), DEFA14A (9), 5 (8), 8-K/A (8), EFFECT (8), S-1/A (8), S-8 (8), PRE 14A (7), S-4 (6), S-3/A (5), SCHEDULE 13G/A (5), ARS (4), FWP (4), S-1 (4), 10-K405 (3), 8-A12G (3), S-3 (3), SCHEDULE 13G (3), 10-Q/A (2), 3/A (2), 424B1 (2), POS AM (2), PRER14A (2), RW (2), S-2/A (2), SC 13D/A (2), SC TO-I/A (2), 10-K405/A (1), 15-12G (1), 25-NSE (1), 424B4 (1), AW (1), POS462C (1), S-1MEF (1), S-2 (1), S-3DPOS (1), S-8 POS (1), SC 13D (1), SC TO-I (1)

  • Latest filingsAnnual report (10-K) Mar 6, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Mar 6, 2026
    Latest 8-K (8-K) Jul 27, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, No Par ValueIBCPNASDAQ

From the cover page of the 10-K filed Mar 6, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks Independent Financial names in Item 1A of its 10-K filed Mar 6, 2026: 32 risks under these headings, as written.17

  • Governmental monetary and fiscal policies may adversely affect the financial services industry and therefore impact our financial condition and results of operations.
  • Volatility and disruptions in global capital and credit markets may adversely impact our business, financial condition and results of operations.
  • Adverse developments affecting the financial services industry, including bank failures and the resulting liquidity concerns, may have a material effect on our business, financial condition, results of operations, or cash flows.
  • The soundness of other financial institutions could adversely affect us.
  • Changes in regulation or oversight may have a material adverse impact on our operations.
  • We are subject to liquidity risk in our operations, which could adversely impact our ability to fund various obligations.
  • We face cybersecurity risks, including attacks targeting our systems and customers' systems.
  • Our use of artificial intelligence and machine learning technologies may expose us to regulatory, operational, and competitive risks.
  • A significant portion of our deposits are uninsured, which could result in funding pressures and liquidity constraints during times of financial stress.
  • Our concentration in commercial real estate loans exposes us to increased credit risk and regulatory scrutiny.
  • We rely on third-party service providers for critical business functions, which exposes us to operational, cybersecurity, and regulatory risks.
  • Operational difficulties, including failure of technology infrastructure and the increasing occurrence and sophistication of attempts at fraudulent activity, could adversely affect our business and operations.
The other 20 risks
  • Changes in the financial markets, including fluctuations in interest rates and their impact on deposit pricing, could adversely affect our net interest income and financial condition.
  • Legal and regulatory proceedings and related matters with respect to the financial services industry, including those directly involving us, could adversely affect us or the financial services industry in general.
  • Methods of reducing risk exposures might not be effective.
  • We have credit risk inherent in our loan portfolios, and our allowance for credit losses may not be sufficient to cover actual credit losses.
  • We have credit risk in our securities portfolio.
  • Our mortgage-banking revenues are susceptible to substantial variations, due in part to factors we do not control, such as market interest rates.
  • An adverse outcome in certain overdraft fee litigation that has been brought against the bank could have a material adverse effect on our results of operations.
  • Our parent company must rely on dividends or returns of capital from our bank for most of its cash flow.
  • Any future strategic acquisitions or divestitures may present additional risks to our business and operations.
  • Compliance with capital requirements may adversely affect us.
  • Declines in the businesses or industries of our customers could cause increased credit losses, which could adversely affect us.
  • The introduction, implementation, withdrawal, success and timing of business initiatives and strategies may be less successful or may be different than anticipated, which could adversely affect our business.
  • We may not be able to utilize technology to efficiently and effectively develop, market, and deliver new products and services to our customers.
  • Emerging digital assets and technologies may disrupt our business and adversely affect our results.
  • Competitive product and pricing pressures among financial institutions within our markets may change.
  • Changes in customer behavior may adversely impact our business, financial condition and results of operations.
  • Our ability to maintain and expand customer relationships may differ from expectations.
  • Our ability to retain key officers and employees may change.
  • Catastrophic events, including, but not limited to, hurricanes, tornadoes, earthquakes, fires, floods, and pandemic outbreaks may adversely affect the general economy, financial and capital markets, specific industries, and us.
  • Our failure to appropriately apply certain critical accounting policies could result in our misstatement of our financial results and condition.

Legal proceedings

We are involved in various litigation matters in the ordinary course of business, which currently include three putative class action complaints brought against the Bank alleging that its practice of charging overdraft and other fees was not consistent with the disclosures the Bank made to consumers. While these matters do not involve a claim for damages that requires disclosure under this Item, please see Note 11 – Commitments and Contingent Liabilities in the Notes to Consolidated Financial Statements in our annual report, to be delivered to shareholders in connection with the April 21, 2026 Annual Meeting of Shareholders (filed as exhibit 13 to this report on Form 10-K) for more information.

The opening of Item 3, Legal Proceedings.17

Sources

The numbers on this page point here. Each one links to the record it came from.

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  33. 33
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    SEC EDGAROther events
  76. 76
    SEC EDGAROther events
  77. 77
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