Independent Bank Corporation (IBCP)

Independent Bank Cash Flow Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	66.79	59.07	63.35	62.9
Depreciation & Amortization	10.01	10.02	10.83	6.37
Gain (Loss) on Sale of Investments	0.43	0.22	0.28	4.35
Provision for Credit Losses	4.47	6.21	5.34	-1.93
Net Decrease (Increase) in Loans Originated / Sold - Operating	10.16	22.03	34.84	72.84
Accrued Interest Receivable	-25.19	-14.62	-25.84	-11.67
Change in Other Net Operating Assets	1.02	-3.6	14.65	17.17
Other Operating Activities	-0.29	1.46	-4.51	-5.95
Operating Cash Flow	63.15	75.59	94.63	110.15
Operating Cash Flow Growth	-16.46%	-20.12%	-14.09%	87.71%
Capital Expenditures	-7.95	-6.02	-5.68	-5.84
Sale of Property, Plant and Equipment	0.96	1.65	1.83	0.06
Investment in Securities	136.92	143.66	119.83	-363.25
Net Decrease (Increase) in Loans Originated / Sold - Investing	-251.02	-305.05	-542.51	-195.51
Other Investing Activities	2.93	2.82	1.93	1.47
Investing Cash Flow	-118.16	-162.95	-424.59	-563.06
Long-Term Debt Issued	130	135	351	100
Long-Term Debt Repaid	-135.02	-170.98	-295	-100
Net Debt Issued (Repaid)	-5.02	-35.98	56	-0
Issuance of Common Stock	0.01	0.07	0.08	0.06
Repurchase of Common Stock	-	-5.16	-4.01	-17.27
Common Dividends Paid	-20.05	-19.33	-18.57	-18.16
Net Increase (Decrease) in Deposit Accounts	31.21	243.81	261.98	479.74
Other Financing Activities	-1.05	-0.65	-0.62	-0.69
Financing Cash Flow	5.11	182.77	294.86	443.68
Net Cash Flow	-49.9	95.41	-35.1	-9.23
Free Cash Flow	55.2	69.57	88.95	104.32
Free Cash Flow Growth	-20.65%	-21.80%	-14.73%	92.11%
Free Cash Flow Margin	25.30%	34.64%	43.15%	50.07%
Free Cash Flow Per Share	2.62	3.29	4.18	4.78
Cash Interest Paid	103.95	79.1	17.66	8.42
Cash Income Tax Paid	13.9	16.1	10.04	14.06

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

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