Independent Bank Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Interest Income on Loans	238.83	228.59	197.73	139.06	116.64
Interest Income on Investments	30.9	38.19	41.95	29.95	21.44
Total Interest Income	269.74	266.78	239.68	169.01	138.08
Interest Paid on Deposits	83.5	92.69	75.08	14.15	4.47
Interest Paid on Borrowings	6.22	7.83	8.27	5.3	3.85
Total Interest Expense	89.72	100.53	83.35	19.45	8.32
Net Interest Income	180.02	166.25	156.33	149.56	129.77
Net Interest Income Growth (YoY)	8.28%	6.35%	4.52%	15.25%	4.98%
Gain (Loss) on Sale of Investments	-0.37	2.26	-0.22	-0.28	1.41
Other Non-Interest Income	27.21	35.66	31.1	43.47	29.18
Total Non-Interest Income	45.64	56.36	50.68	61.91	76.64
Non-Interest Income Growth (YoY)	-19.02%	11.22%	-18.14%	-19.22%	-5.08%
Revenues Before Loan Losses	225.66	222.61	207.01	211.47	206.41
Provision for Loan Losses	6.14	4.47	6.21	5.34	-1.93
Revenue	219.52	218.14	200.8	206.13	208.34
Revenue Growth (YoY)	0.63%	8.64%	-2.59%	-1.06%	8.57%
Salaries and Employee Benefits	85.19	82.62	76.74	78.86	78.02
Occupancy Expenses	8.57	6.29	6.28	7.1	7
Federal Deposit Insurance	2.82	2.87	3.01	2.14	1.4
Selling, General & Administrative	25.91	28.91	26.25	25.22	25.81
Other Non-Interest Expense	15.74	14.41	14.84	15.02	18.8
Total Non-Interest Expense	138.23	135.1	127.12	128.34	131.02
EBT Excluding Unusual Items	81.29	83.05	73.68	77.79	77.31
Pretax Income	81.29	83.05	73.68	77.79	77.31
Income Tax Expense	12.75	16.26	14.61	14.44	14.42
Net Income	68.54	66.79	59.07	63.35	62.9
Net Income to Common	68.54	66.79	59.07	63.35	62.9
Net Income Growth	2.62%	13.08%	-6.76%	0.73%	12.01%
Basic Shares Outstanding	21	21	21	21	22
Diluted Shares Outstanding	21	21	21	21	22
Shares Change (YoY)	-0.69%	-0.30%	-0.59%	-2.34%	-1.86%
EPS (Basic)	3.30	3.20	2.82	3.00	2.91
EPS (Diluted)	3.27	3.16	2.79	2.97	2.88
EPS Growth	3.48%	13.26%	-6.06%	3.13%	13.83%
Dividend Per Share	1.040	0.960	0.920	0.880	0.840
Dividend Growth	8.33%	4.35%	4.54%	4.76%	5.00%
Effective Tax Rate	15.68%	19.57%	19.83%	18.56%	18.65%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q