Independent Bank Corporation (IBCP)

Income Statement (Annual)

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

Millions USD. Fiscal year is Jan - Dec.

Year	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Revenue	208.34	191.89	169.49	156.59	130.52	123.25	117.83	115.17	126.78	142.93
Revenue Growth (YoY)	8.57%	13.22%	8.24%	19.98%	5.90%	4.60%	2.31%	-9.16%	-11.30%	25.89%
Gross Profit	208.34	191.89	169.49	156.59	130.52	123.25	117.83	115.17	126.78	142.93
Selling, General & Admin	110.82	103.79	96.74	90.17	81.2	76.21	75.48	74.89	76.89	87.08
Other Operating Expenses	20.2	18.62	14.99	17.29	11.49	13.82	12.97	15.06	27.23	29.66
Operating Expenses	131.02	122.41	111.73	107.46	92.69	90.03	88.45	89.95	104.12	116.74
Operating Income	77.31	69.48	57.76	49.13	37.83	33.22	29.38	25.22	22.66	26.2
Other Expense / Income	0	0	0	0	-0.61	0.32	0	0	0	0
Pretax Income	77.31	69.48	57.76	49.13	38.44	32.9	29.38	25.22	22.66	26.2
Income Tax	14.42	13.33	11.33	9.29	17.96	10.14	9.36	7.2	-54.85	0
Net Income	62.9	56.15	46.44	39.84	20.48	22.77	20.02	18.02	77.51	26.2
Preferred Dividends	0	0	0	0	0	0	0	0	-4.55	4.35
Net Income Common	62.9	56.15	46.44	39.84	20.48	22.77	20.02	18.02	82.06	21.85
Net Income Growth	12.01%	20.93%	16.56%	94.57%	-10.06%	13.73%	11.08%	-78.04%	275.55%	-
Shares Outstanding (Basic)	21	22	22	24	21	21	22	23	23	9
Shares Change	-2.78%	-2.66%	-6.74%	13.00%	0.41%	-4.72%	-2.85%	0.61%	156.12%	5.05%
EPS (Basic)	2.91	2.56	2.03	1.70	0.96	1.06	0.88	0.79	5.87	2.51
EPS (Diluted)	2.88	2.53	2.00	1.68	0.95	1.05	0.86	0.77	3.55	0.80
EPS Growth	13.83%	26.50%	19.05%	76.84%	-9.52%	22.09%	11.69%	-78.31%	343.75%	-
Free Cash Flow Per Share	4.91	2.53	1.32	1.71	1.61	0.97	0.85	0.40	1.92	2.92
Dividend Per Share	0.840	0.800	0.720	0.600	0.420	0.340	0.260	0.180	-	-
Dividend Growth	5.00%	11.11%	20.00%	42.86%	23.53%	30.77%	44.44%	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	37.10%	36.20%	34.10%	31.40%	29.00%	27.00%	24.90%	21.90%	17.90%	18.30%
Profit Margin	30.20%	29.30%	27.40%	25.40%	15.70%	18.50%	17.00%	15.60%	64.70%	15.30%
Free Cash Flow Margin	50.10%	28.90%	17.50%	26.30%	26.30%	16.80%	16.20%	7.90%	34.50%	18.20%
Effective Tax Rate	18.65%	19.18%	19.61%	18.92%	46.73%	30.80%	31.87%	28.53%	-242.08%	0.00%
EBITDA	89.44	78.64	63.82	55.17	45.4	38.12	33.93	25.22	22.66	21.48
EBITDA Margin	42.90%	41.00%	37.70%	35.20%	34.80%	30.90%	28.80%	21.90%	17.90%	15.00%
Depreciation & Amortization	12.13	9.16	6.06	6.03	6.96	5.22	4.55	0	0	-4.72
EBIT	77.31	69.48	57.76	49.13	38.44	32.9	29.38	25.22	22.66	26.2
EBIT Margin	37.10%	36.20%	34.10%	31.40%	29.40%	26.70%	24.90%	21.90%	17.90%	18.30%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).