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Michigan-based Independent Bank Corporation (NASDAQ: IBCP) has been awarded the Raymond James Community Bankers Cup for its performance in 2024. The Bank was recognized for being one of the best performing banks in the nation that was also building long-term shareholder value. This is Independent Bank’s first time winning this award.
The thirteenth annual Raymond James Community Bankers Cup award recognized the top 10% of community banks based on various profitability, operational efficiency, and balance sheet metrics. The pool of banks considered included all exchange-traded domestic banks, excluding mutual holding companies, with assets between $500 million and $10 billion as of December 31, 2024.
Of the 202 community banks considered for the 2024 Community Bankers Cup, the top 10% demonstrated superior performance on a relative basis in one or more of the following measurements of financial performance and stability: non-performing assets to loans and real estate-owned; five-year average core deposit percentage; net interest margin; efficiency ratio; return on average assets; and return on average tangible common equity.
"Independent Bank is honored to receive this prestigious award from Raymond James,” said Brad Kessel, President and CEO of Independent Bank. “This affirms our commitment to pursuing financial excellence and is also a testament to our team’s hard work and dedication.”
