Independent Bank Corp(MI) (IBCP)

Pointed out to me by FloridaBuilder, I think this stock has a better-than-even chance of falling hard from its current perch. Yes, I wish I'd selected it over the weekend and got in on the 18+% drop today, but I think there's more of that to come. Just look at the numbers on Yahoo! Finance: PEG=2.8, Profit & Operating Margins at 5.3% & 3.2% (barely self-sustaining), Return on Assets and Equity are anemic at 0.2% & 2.6%, and Quarterly Revenue & Earnings Growth both negative at -11.2% and -92%, respectively. Debt is common for banks, but this one has $682M in debt with only $71M in cash. Its market capitalization is only $137M, for crying out loud! Where's the rest of the money to keep this thing afloat? It's too small to be rescued by the Fed's "We Don't Rescue Banks (Unless They're Too Big To Fail)" policy. To add insult to injury, the dividend yield is a paltry 0.5%, so why would shareholders stick around for that great bargain? It might be independent, but this independence is going to cost them their business. I'm going to hold on to this one for a very short time, reassessing in 3-4 weeks.