What is Independent Bank Corporation's Shariah compliance score?

Independent Bank Corporation's (IBCP) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Independent Bank Corporation pass AAOIFI screening?

Independent Bank Corporation (IBCP) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (IBCP: 15.6%), (3) interest-bearing deposits below 30% (IBCP: 18.4%), and (4) prohibited income below 5% (IBCP: 900.9%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for Independent Bank Corporation stock?

Independent Bank Corporation (IBCP) has a non-permissible income ratio of 900.90%. Muslim investors should purify this percentage of any dividends received and capital gains realized from IBCP shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation using the latest financial data.

Where can I screen Independent Bank Corporation for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Independent Bank Corporation (IBCP) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about IBCP's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

IBCP: Is Independent Bank Corporation Halal?

Independent Bank Corporation

NASDAQFinancial ServicesUS

$36.04

-1.80%

Market Cap: 742.6M

Compliance Status

Not Halal

Screened on Jul 18, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Independent Bank Corporation (IBCP) halal? Not Halal. Based on AAOIFI screening, Independent Bank Corporation has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

AvoidBorderlineClean

Business activity

Involved in prohibited business activities.

Failed

Company debt

Within the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

15.6% of 30.0% limit

What this means for you

Most scholars advise not holding IBCP

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About Independent Bank Corporation

As the holding company for Independent Bank, Independent Bank Corporation provides diverse banking services to both individual consumers and businesses. Its comprehensive suite of offerings includes checking and savings accounts, commercial lending, direct and indirect consumer financing, and mortgage solutions, along with safe deposit boxes. Customers also benefit from accessible automatic teller machines, internet banking, and mobile banking capabilities. The company further diversifies its portfolio with title insurance, insurance brokerage, and investment services. Headquartered in Grand Rapids, Michigan, and founded in 1864, Independent Bank Corporation reaches its clientele through roughly 59 branches, two drive-through facilities, and seven loan production offices across Michigan, in addition to two loan production offices in Ohio.

Sector: Financial Services · Industry: Banks - Regional

Shariah Compliance Status

AAOIFI Standard 21Updated Jul 18, 2026

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Prohibited industry: Banks - Regional

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: Q1 2026Data source: EDGAR

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

GLDA+

SPDR Gold Shares

$368.41

+0.17%

SLVA+

iShares Silver Trust

$50.78

+0.47%

PSLVA+

Sprott Physical Silver Trust

$21.30

+6.23%

PHYSA+

Sprott Physical Gold Trust

$31.75

+0.19%

ABA+

AllianceBernstein Holding L.P.

$36.03

-1.13%

More Financial Services Stocks

JPM

JPMorgan Chase & Co.

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Mastercard Incorporated

A+

PYPL

PayPal Holdings, Inc.

C+

BAC

Bank of America Corporation

WFC

Wells Fargo & Company

Free · No credit card required

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Frequently Asked Questions

Is Independent Bank Corporation (IBCP) halal to invest in?

Independent Bank Corporation (IBCP) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Independent Bank Corporation get a F compliance rating?

Independent Bank Corporation (IBCP) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 15.6% (limit 30%); interest-bearing deposits of 18.4% (limit 30%); prohibited income of 900.90% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Independent Bank Corporation's Shariah verdict?

Independent Bank Corporation's verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Independent Bank Corporation re-screened for Shariah compliance?

Independent Bank Corporation (IBCP) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jul 18, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.