Independent Bank Corporation (IBCP)

Independent Bank Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Interest Income	180.02	166.25	156.33	149.56	129.77
Net Interest Income Growth	8.28%	6.35%	4.52%	15.25%	4.98%
Non-Interest Income	45.64	56.36	50.68	61.91	76.64
Non-Interest Income Growth	-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 Credit 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%
Compensation Expenses	85.19	84.96	78.97	81.01	79.97
Selling, General & Admin	34.48	32.87	30.31	30.18	30.86
Other Non-Interest Expenses	18.56	17.28	17.85	17.16	20.2
Total Non-Interest Expense	138.23	135.1	127.12	128.34	131.02
Pretax Income	81.29	83.05	73.68	77.79	77.31
Provision for Income Taxes	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%
Shares Outstanding (Basic)	21	21	21	21	22
Shares Outstanding (Diluted)	21	21	21	21	22
Shares Change (YoY)	-0.68%	-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	3.00	2.91
EPS Growth	3.48%	13.26%	-7.00%	3.09%	13.67%
Free Cash Flow	70.17	55.2	69.57	88.95	104.32
Free Cash Flow Growth	27.11%	-20.65%	-21.80%	-14.73%	92.11%
Free Cash Flow Per Share	3.35	2.62	3.29	4.18	4.78
Dividends Per Share	1.040	0.960	0.920	0.880	0.840
Dividend Growth	8.33%	4.35%	4.54%	4.76%	5.00%
Profit Margin	31.22%	30.62%	29.42%	30.73%	30.19%
FCF Margin	31.96%	25.31%	34.64%	43.15%	50.07%
EBITDA	9.91	10.01	10.02	10.83	12.13
EBITDA Margin	4.51%	4.59%	4.99%	5.25%	5.82%
Effective Tax Rate	15.68%	19.57%	19.83%	18.56%	18.65%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q