CEO Total Pay
$1.2M
FY2022 Summary Compensation, below median
IBCP FY2022 SEC EDGAR DEF 14A
Independent Bank Corp /mi/ CEO pay ratio
The CEO earned $1.2M in FY2022 against median worker pay of $55,936 · Depository Institutions.
- State
- MI
- Filing date
- 2023-03-03
- Industry
- Depository Institutions
- Fiscal year
- FY2022
Data updated August 2026
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CEO-to-worker pay ratio
22:1
Below Average (Scale: 0–1000:1)
CEO pay
$1.2M
Median worker
$55,936
Latest filing FY2022. This company's newest DEF 14A on file is for FY2022, not FY2025, so the figures on this page are from that earlier year and are not ranked against the FY2025 industry benchmark. Industry pages mark issuers like this one with a "Latest filing" label.
Answer first
Independent Bank Corp /mi/ reported a 22:1 CEO-to-worker pay ratio in FY2022 - at or below the Depository Institutions median of 43:1 across 136 filers.
Figures come from Section 953(b) Dodd-Frank DEF 14A disclosures - not estimates. View all Depository Institutions companies.
- Pay ratio
- 22:1
- FY2022 disclosed
- CEO total
- $1.2M
- Summary Compensation Table total
- Median worker
- $55,936
- Dodd-Frank median employee
Ratio bands among Depository Institutions peers
Exclusive CEO-to-median-worker bands across 124 complete latest-FY filings in SIC 60. Segments sum to the peer set, not this company's compensation pillar.
CEO Compensation Breakdown, FY2022
A component-level pay breakdown is not reported in Independent Bank Corp /mi/'s structured SEC pay-ratio disclosure. See our methodology →
Industry Comparison - Depository Institutions
This Company's Ratio
22:1
Industry Median Ratio
43:1
Industry Median CEO Pay
$3.0M
This CEO's Pay
$1.2M
Companies in Industry
136
vs. Industry Median
Below
Independent Bank Corp /mi/: near-parity Item 402(u) ratio
Independent Bank Corp /mi/ stamps FLOOR · PAR-MED at 22:1 against $55,936 median worker pay in FY2022. the CEO earned 22× the median employee ($55,936) in FY2022.
At $55,936 median worker pay, the FLOOR stamp is near pay-parity territory under LIGHT CEO total.
Pay Ratio
22:1
Below typical
What FY2022 shows for Independent Bank Corp /mi/
Independent Bank Corp /mi/ stamps FLOOR · PAR-MED at 22:1 against $55,936 median worker pay in FY2022. The structured pay-ratio disclosure reports the total without line-item components. Depository Institutions (SIC 60) median ratio is 43:1 across 136 FY2025 filers; Independent Bank Corp /mi/'s $1.2M CEO total is at or below the $3.0M industry median CEO pay.
Independent Bank Corp /mi/ stamps FLOOR · LIGHT · PAR-MED; grant-date fair value (not realized pay) is what the DEF 14A reports. Open Depository Institutions peers.
Key Data, FY2022
- Total Compensation
- $1.2M
- Median Employee Pay
- $55,936
- Pay Ratio
- 22:1
- Filing Date
- 2023-03-03
Company Info
- Ticker
- IBCP
- CIK
- 39311
- Industry
- Depository Institutions
- SIC Code
- 6022
- State
- MI
SEC EDGAR DEF 14A for CIK 39311, FY2022. Informational only, not investment advice. Verify on EDGAR.
Read our methodology - how this data is sourced, computed, and verified. Independent Bank Corp /mi/ stamps FLOOR · PAR-MED at 22:1 against $55,936 median worker pay in FY2022.
Read with Independent Bank Corp /mi/
ABS(ceo_total_comp) peers first, then a SIC pole and a stamp-branched guide - not a fixed Related strip. This page stamps FLOOR · LIGHT · PAR-MED.
Compx International Inc · LIGHT
ABS(ceo_total_comp) peer at $1.2M (Δ $582 heavier vs Independent Bank Corp /mi/); FLOOR · PAR-MED vs this page's FLOOR · LIGHT · PAR-MED.
BIG 5 SPORTING GOODS Corp · LIGHT
ABS(ceo_total_comp) peer at $1.2M (Δ $4K lighter vs Independent Bank Corp /mi/); MID · LOW-MED vs this page's FLOOR · LIGHT · PAR-MED.
Guaranty Bancshares Inc /tx/ · LIGHT
ABS(ceo_total_comp) peer at $1.2M (Δ $6K lighter vs Independent Bank Corp /mi/); MODEST · PAR-MED vs this page's FLOOR · LIGHT · PAR-MED.
Yellow Corp · LIGHT
ABS(ceo_total_comp) peer at $1.2M (Δ $8K heavier vs Independent Bank Corp /mi/); FLOOR · HIGH-MED vs this page's FLOOR · LIGHT · PAR-MED.
Depository Institutions benchmark
Independent Bank Corp /mi/ stamps FLOOR · LIGHT · PAR-MED inside SIC 60 - open the industry median board after the ABS peers.
Pay-ratio rankings · FLOOR
See where FLOOR · LIGHT packages sit on the national leaderboard after reading Independent Bank Corp /mi/.
Ratio primer · FLOOR
Independent Bank Corp /mi/'s FLOOR stamp sits in the lower Item 402(u) band - start with how the ratio is disclosed before comparing peers.
Data sourced from SEC EDGAR DEF 14A for Independent Bank Corp /mi/ (CIK 39311), FY2022. See our methodology. Aggregated by PlainCEOPay as of August 2026.
Data currency: Executive compensation from SEC EDGAR DEF 14A proxy statements through fiscal year 2025, compiled and last refreshed August 2026. See our methodology for source dates and refresh cadence. Spot a figure that looks wrong? Report a correction.