Is INDEPENDENT BANK CORP /MI/ (IBCP) Halal?
Shariah Screening — 5 Standards
Based on financial data from December 2024
| Standard | Debt Ratio | Cash Ratio | Receivables | Income | Status |
|---|---|---|---|---|---|
| AAOIFI | Excluded — Banks - Regional | ✗ NOT HALAL | |||
| DJIM | Excluded — Banks - Regional | ✗ NOT HALAL | |||
| MSCI | Excluded — Banks - Regional | ✗ NOT HALAL | |||
| S&P | Excluded — Banks - Regional | ✗ NOT HALAL | |||
| FTSE | Excluded — Banks - Regional | ✗ NOT HALAL | |||
Financial Highlights
Profitability
| Gross Margin | 0.0% | |
| Operating Margin | 37.5% | |
| Net Margin | 31.2% | |
| Return on Equity (ROE) | 14.3% | |
| Return on Assets (ROA) | 1.3% |
Cash Flow & Balance Sheet
| Operating Cash Flow | $63M |
| Free Cash Flow | $55M |
| Total Debt | $124M |
| Total Assets | $5.3B |
Price & Trading
| Last Close | $32.68 |
| 50-Day MA | $34.75 |
| 200-Day MA | $32.82 |
| Avg Volume | 156K |
| Beta | 0.7 |
|
52-Week Range
$26.75
| |
About INDEPENDENT BANK CORP /MI/ (IBCP)
Independent Bank Corporation operates as the bank holding company for Independent Bank that provides banking services in the United States. The company offers demand deposits, interest checking, money market accounts, savings accounts, and time certificates of deposit, including free checking accounts. It also provides consumer loans that consists of real estate loans comprising residential mortgages and home equity loans and lines, all secured by one-to-four family residential properties, as well as other consumer loans; and investment and financial services. In addition, the company offers cash management; investment management and trust services; additional services, such as estate settlement, financial planning, tax services, and other special services; sale of mutual fund shares, unit investment trust shares, third party model portfolios, general securities, and fixed and variable annuities, as well as life insurance products; debit and credit card; safe deposit box services; automatic teller machines; and internet and mobile banking services. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.
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Frequently Asked Questions
Is INDEPENDENT BANK CORP /MI/ (IBCP) halal to invest in?
Based on our screening using AAOIFI Standard 21 (the strictest methodology), INDEPENDENT BANK CORP /MI/ is Not Halal. The company fails one or more screening criteria. We screen against all 5 major standards: AAOIFI, DJIM, MSCI, S&P, and FTSE.
What is INDEPENDENT BANK CORP /MI/'s debt ratio?
INDEPENDENT BANK CORP /MI/'s debt ratio is not available under the AAOIFI standard (which uses market capitalization as the denominator). The AAOIFI threshold is 30%.
What are INDEPENDENT BANK CORP /MI/'s key financial metrics?
INDEPENDENT BANK CORP /MI/ has a market capitalization of $667M, trailing P/E ratio of 9.9, and revenue of $216M. Return on equity stands at 14.3%.
How often is the screening data updated?
Our screening data is updated regularly using the latest available financial statements and market data. Stock prices and market caps are refreshed frequently, while financial statements are updated quarterly when companies report earnings.
Disclaimer: HalalStockGuide.com provides Shariah compliance screening for educational and informational purposes only. This is not a fatwa, financial advice, or a recommendation to buy or sell any security. Screening results are based on publicly available financial data and established methodologies. Always consult a qualified Islamic scholar and a licensed financial advisor before making investment decisions.