Independent Bank Balance Sheet

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
Cash & Equivalents	138.39	119.88	169.48	74.07	109.47
Investment Securities	805.43	633.74	733.14	826.72	979.3
Trading Asset Securities	-	37.06	38.68	39.75	12.28
Mortgage-Backed Securities	-	264.88	300.2	327.45	433.53
Total Investments	805.43	935.68	1,072	1,194	1,425
Gross Loans	4,276	4,039	3,791	3,465	2,905
Allowance for Loan Losses	-63.45	-59.38	-54.66	-52.44	-47.25
Net Loans	4,213	3,979	3,736	3,413	2,858
Property, Plant & Equipment	38.97	43.46	40.43	41.44	42.89
Goodwill	28.3	28.3	28.3	28.3	28.3
Other Intangible Assets	1	1.49	2	2.55	3.34
Loans Held for Sale	9.03	7.64	12.06	46.89	90.28
Accrued Interest Receivable	167.52	5.6	6.4	54.12	18.87
Restricted Cash	-	-	0.3	0.3	-
Long-Term Deferred Tax Assets	-	24.46	23.8	29.5	4.35
Other Real Estate Owned & Foreclosed	0.9	0.94	0.57	0.46	0.25
Other Long-Term Assets	85.24	175.11	155.29	97.69	105.68
Total Assets	5,506	5,338	5,264	5,000	4,705
Accrued Expenses	124.22	79.98	80.19	83.13	67.65
Interest Bearing Deposits	3,770	3,429	3,370	3,026	2,702
Institutional Deposits	-	211.38	176.6	82.9	93.1
Non-Interest Bearing Deposits	991.98	1,014	1,076	1,270	1,322
Total Deposits	4,762	4,654	4,623	4,379	4,117
Short-Term Borrowings	-	18.62	21.84	80.13	5.96
Current Portion of Leases	-	1.31	-	-	-
Long-Term Debt	77	39.6	39.54	39.44	39.37
Federal Home Loan Bank Debt, Long-Term	-	45	50	25	30
Long-Term Leases	-	5.03	5.11	5.77	6.6
Trust Preferred Securities	39.86	39.8	39.73	39.66	39.59
Total Liabilities	5,003	4,883	4,859	4,652	4,306
Common Stock	307.85	318.78	317.48	320.99	323.4
Retained Earnings	252.79	205.85	159.11	119.37	74.58
Comprehensive Income & Other	-57.69	-69.94	-72.14	-92.76	0.5
Shareholders' Equity	502.95	454.69	404.45	347.6	398.48
Total Liabilities & Equity	5,506	5,338	5,264	5,000	4,705
Total Debt	116.87	149.35	156.21	190	121.52
Net Cash (Debt)	21.52	7.59	51.95	-76.18	0.24
Net Cash Growth	183.57%	-85.39%	-	-	-
Net Cash Per Share	1.03	0.36	2.45	-3.58	0.01
Filing Date Shares Outstanding	20.55	20.97	20.91	21.13	21.2
Total Common Shares Outstanding	20.55	20.9	20.84	21.06	21.17
Book Value Per Share	24.48	21.76	19.41	16.50	18.82
Tangible Book Value	473.65	424.9	374.15	316.75	366.85
Tangible Book Value Per Share	23.05	20.33	17.96	15.04	17.33

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

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