Which has the lower trailing P/E, IBCP or MSBIP?

IBCP has the lower trailing P/E: IBCP trades at 10.40 and MSBIP at 15.99. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, IBCP or MSBIP?

Over the past five years, IBCP grew revenue faster — IBCP at a 7.43% CAGR versus MSBIP at 7.02%.

Does IBCP or MSBIP pay a bigger dividend?

IBCP yields 3.06% and MSBIP yields 7.66% based on trailing dividends and the latest price.

Is IBCP or MSBIP more profitable?

IBCP runs the higher net margin — IBCP at 22.71% versus MSBIP at 9.71%.

Independent Bank Corporation (IBCP) vs Midland States Bancorp, Inc. (MSBIP)

A side-by-side comparison of Independent Bank Corporation and Midland States Bancorp, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 6, 2026. Differences are shown without an overall score or investment verdict.

IBCP

Independent Bank Corporation

$737M

$35.79Financial ServicesDelayed quote: Oct 6, 2026, 4:00 PM EDT

MSBIP

Midland States Bancorp, Inc.

$707M

$25.58Financial ServicesDelayed quote: Oct 6, 2026, 3:55 PM EDT

Total return — IBCP vs MSBIP

growth of $100 · dividends reinvested · last 4y

IBCP +100.1% (+18.9%/yr)MSBIP +38.6% (+8.5%/yr)IBCP compounded faster over this window

IBCP MSBIP

IBCP vs MSBIP: by the numbers

•IBCP is the larger company ($737M vs $707M market cap).
•IBCP trades at the lower trailing earnings multiple (10.40 vs 15.99 P/E), one valuation lens rather than an overall verdict.
•IBCP converts more revenue to profit (22.71% vs 9.71% net margin).
•IBCP grew revenue faster over the past five years (7.43% vs 7.02% CAGR).
•MSBIP pays the higher dividend yield (7.66% vs 3.06%).

Metrics side by side

Valuation

Metric	IBCP	MSBIP
P/E ratio	10.40	15.99
Forward P/E	10.04	7.65
PEG ratio	1.97	N/A
P/S ratio	2.33	1.60
P/B ratio	1.40	1.54

Profitability

Metric	IBCP	MSBIP
Operating margin	26.72%	-22.08%
Net margin	22.71%	9.71%
ROE	13.58%	7.55%

Independent Bank Corporation: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.

Midland States Bancorp, Inc.: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.

Dividends

Metric	IBCP	MSBIP
Dividend yield	3.06%	7.66%
Payout ratio	31.98%	121.10%

Growth (annualized)

Metric	IBCP	MSBIP
Revenue CAGR (5Y)	7.43%	7.02%
EPS CAGR (5Y)	5.21%	N/A
Total return CAGR (5Y)	14.52%	N/A

Frequently asked

Which has the lower trailing P/E, IBCP or MSBIP?: IBCP has the lower trailing P/E: IBCP trades at 10.40 and MSBIP at 15.99. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, IBCP or MSBIP?: Over the past five years, IBCP grew revenue faster — IBCP at a 7.43% CAGR versus MSBIP at 7.02%.
Does IBCP or MSBIP pay a bigger dividend?: IBCP yields 3.06% and MSBIP yields 7.66% based on trailing dividends and the latest price.
Is IBCP or MSBIP more profitable?: IBCP runs the higher net margin — IBCP at 22.71% versus MSBIP at 9.71%.

Go deeper

Full IBCP analysis Full MSBIP analysis Interactive comparison tool

Dig into the metrics

Independent Bank P/E ratio Midland States Bancorp P/E ratio Independent Bank dividend yield Midland States Bancorp dividend yield Independent Bank ROE Midland States Bancorp ROE Independent Bank operating margin Midland States Bancorp operating margin Independent Bank revenue growth Midland States Bancorp revenue growth

Independent Bank & Midland States Bancorp appear in these rankings

Highest Dividend Yield Stocks Lowest P/E Ratio Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 6, 2026.