TellerScore

Independent Bank is a state-chartered bank (fed member) headquartered in Grand Rapids, Michigan, in business for about 136 years. At the end of Q2 2026 it reported $5.7B in total assets and $4.9B in deposits, with 59 offices.

Independent Bank has a TellerScore of 63 out of 100 (moderate) based on Q2 2026 data — higher than only 30% of its 897 banks with $1 billion – $10 billion. Among 72 banks headquartered in Michigan, it ranks 43rd. Problem-loan coverage contributes the most (85/100, 7.6%); capital cushion contributes the least (47/100, 9.67%).

TellerScore · Q2 2026

Scorecard

Capital cushion47/100
Tier 1 leverage ratio: 9.67%
Loan quality67/100
Noncurrent loans ÷ total loans: 0.99%
Earnings74/100
Return on assets (annualized): 1.34%
Funding & liquidity61/100
Loans ÷ deposits and uninsured-deposit share: 88.6% · 24.4% uninsured
Problem-loan coverage85/100
"Texas ratio": (noncurrent loans + foreclosed property) ÷ (equity + loan-loss reserves): 7.60%

The TellerScore is our own summary of the figures this institution reports publicly; it is not issued or endorsed by any government agency. It is not a prediction, and deposits within insurance limits are protected either way.

9 quarters

Health trend

From Q2 2025 to Q2 2026, the score fell 8 points (71 → 63), mostly because the loan quality component weakened by 25 points.

TellerScore
636872Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
Show as table
QuarterTellerScore
Q2 202472
Q3 202471
Q4 202472
Q1 202570
Q2 202571
Q3 202567
Q4 202564
Q1 202663
Q2 202663
Tier 1 leverage ratio
5.00%7.40%9.79%well-capitalized benchmarkQ2 2024Q4 2024Q2 2025Q4 2025Q2 2026
Show as table
QuarterTier 1 leverage ratio
Q2 20249.34%
Q3 20249.36%
Q4 20249.58%
Q1 20259.56%
Q2 20259.79%
Q3 20259.19%
Q4 20259.36%
Q1 20269.43%
Q2 20269.67%
Noncurrent loans
0.15%0.57%0.99%Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
Show as table
QuarterNoncurrent loans
Q2 20240.15%
Q3 20240.18%
Q4 20240.19%
Q1 20250.22%
Q2 20250.25%
Q3 20250.54%
Q4 20250.77%
Q1 20260.87%
Q2 20260.99%
Return on assets
1.23%1.31%1.39%Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
Show as table
QuarterReturn on assets
Q2 20241.39%
Q3 20241.30%
Q4 20241.34%
Q1 20251.23%
Q2 20251.28%
Q3 20251.31%
Q4 20251.33%
Q1 20261.27%
Q2 20261.34%
Quarter-by-quarter figures
QuarterScoreAssetsCapitalProblem loansROALoans/deposits
Q2 202663$5.7B9.67%0.99%1.34%88.6%
Q1 202663$5.6B9.43%0.87%1.27%86.3%
Q4 202564$5.5B9.36%0.77%1.33%87.7%
Q3 202567$5.5B9.19%0.54%1.31%84.4%
Q2 202571$5.4B9.79%0.25%1.28%87.0%
Q1 202570$5.3B9.56%0.22%1.23%85.6%
Q4 202472$5.3B9.58%0.19%1.34%84.6%
Q3 202471$5.3B9.36%0.18%1.30%83.2%
Q2 202472$5.3B9.34%0.15%1.39%81.4%

897 peers · $1 billion – $10 billion

How it compares with peers

Percentile against banks of similar size nationwide (100th = best among peers; for ratios where lower is better, the scale is flipped).

Capital ratio9.67%
28th
Total risk-based capital12.70%
38th
Problem loans0.99%
27th
Net charge-offs0.03%
52nd
Return on assets1.34%
59th
Net interest margin3.72%
51st
Efficiency ratio61.5%
42nd
Loans to deposits88.6%
47th
Uninsured deposits24.4%
72nd
Loan-loss reserves1.48%
85th
Texas ratio7.6%
24th

Similar-size banks in Michigan

InstitutionScoreAssetsCapitalProblem loansCompare
Mercantile BankBank Grand Rapids, MI73 out of 100, Strong$6.2B11.6%0.10%vs
First National Bank of AmericaBank East Lansing, MI51 out of 100, Below average$6.8B8.1%1.90%vs
ChoiceOne BankBank Sparta, MI61 out of 100, Moderate$4.5B9.3%1.00%vs
Northpointe BankBank Grand Rapids, MI58 out of 100, Moderate$7.5B9.5%1.23%vs
Macatawa Bank, National AssociationBank Holland, MI76 out of 100, Strong$3.7B10.7%0.08%vs
Bank of Ann ArborBank Ann Arbor, MI82 out of 100, Strong$3.5B13.2%0.27%vs

Deposit insurance

Is my money safe at Independent Bank?

Yes. Independent Bank is an FDIC-insured institution (FDIC certificate #27811). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.

An estimated 24.4% of deposits ($1.2B) are above the $250,000 FDIC insurance limit, below the peer median of 31%. Insured balances are protected regardless of the score.

The tier 1 leverage ratio is 9.67%, above the 5% level regulators use as the "well capitalized" benchmark for this measure. Its total risk-based capital ratio is 12.70% (benchmark: 10%).

Check how much of your own balance is covered

59 locations

Branches

Independent Bank lists 57 offices in 49 cities. Most locations:

All branch addresses and map

HMDA 2025

Mortgage lending

In 2025, Independent Bank reported 3,361 home-loan applications under HMDA (LEI 20TVKH7M13MUBGE80C53): 2,357 originated ($647,035,000 total), 508 denied, and 468 withdrawn or closed by the applicant. Its denial rate on decided applications was 17.6%, compared with 22.2% for all lenders nationwide.

Denial rates depend heavily on loan type and applicant mix and are not a measure of fairness or of your own odds.

Identity & history

Profile

Legal name
Independent Bank
Former names
Mutual Savings and Loan Association, FA; Independent Bank MSB; Mutual Savings Bank, F.S.B.; Mutual Savings Bank, F.S.B.; Mutual Savings Bank, F.S.B
Type
State-chartered bank (Fed member)
FDIC certificate #
27811
RSSD ID
636771
Primary regulator
FED
Holding company
Independent Bank Corp
Established
January 1, 1890
Headquarters
4200 E Beltline Ave Ne, Grand Rapids, MI 49525
Employees
796

Quick answers

Independent Bank: common questions

Is Independent Bank FDIC insured?

Yes. Independent Bank is an FDIC-insured institution (FDIC certificate #27811). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.

What is Independent Bank's TellerScore?

63 out of 100 (Moderate), based on its Q2 2026 publicly reported figures. The TellerScore is our own summary and is not issued by any government agency.

Has Independent Bank ever failed?

There is no failure record for FDIC certificate #27811 in the FDIC failed bank list.

How many branches does Independent Bank have?

59 offices as of the latest FDIC data.

Nearby

Highest-scoring banks and credit unions with branches near Grand Rapids

InstitutionScoreAssetsCapitalProblem loansCompare
Total Community Credit UnionCredit union Taylor, MI97 out of 100, Very strong$111.3M15.3%0.36%vs
Allegheny Central Federal Credit UnionCredit union Dunbar, PA95 out of 100, Very strong$8.2M20.8%0.18%vs
Aac Credit UnionCredit union Grand Rapids, MI90 out of 100, Very strong$212.4M24.2%0.36%vs
Preferred Credit UnionCredit union Grand Rapids, MI87 out of 100, Very strong$318.1M14.3%0.37%vs
Tri-Cities Credit UnionCredit union Grand Haven, MI86 out of 100, Very strong$51.3M13.9%0.05%vs
Blue Water Federal Credit UnionCredit union Port Huron, MI86 out of 100, Very strong$20.4M14.4%0.23%vs