Independent Bank Corporation (IBCP)

Independent Bank Cash Flow Statement

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

Year	2023	2022	2021	2020	2019
Net Income	59.07	63.35	62.9	56.15	46.44
Depreciation & Amortization	10.02	10.83	12.13	9.16	6.06
Share-Based Compensation	2.23	2.14	1.95	1.98	1.85
Other Operating Activities	4.27	18.31	33.18	-8.61	-19.86
Operating Cash Flow	75.59	94.63	110.15	58.68	34.49
Operating Cash Flow Growth	-20.12%	-14.09%	87.71%	70.14%	-23.22%
Capital Expenditures	-4.38	-3.85	-5.77	-3.25	-4.86
Change in Investments	-160.56	-421.9	-558.76	-553.47	-179.53
Other Investing Activities	1.99	1.16	1.47	2.81	2.24
Investing Cash Flow	-162.95	-424.59	-563.06	-553.91	-182.15
Dividends Paid	-19.33	-18.57	-18.16	-17.62	-16.55
Share Issuance / Repurchase	-5.09	-3.93	-17.21	-14.22	-26
Debt Issued / Paid	-35.98	56	-0	-19.41	62.86
Other Financing Activities	243.16	261.36	479.04	599.87	122.42
Financing Cash Flow	182.77	294.86	443.68	548.63	142.72
Net Cash Flow	95.41	-35.1	-9.23	53.4	-4.94
Free Cash Flow	71.21	90.79	104.38	55.43	29.63
Free Cash Flow Growth	-21.56%	-13.02%	88.30%	87.09%	-28.02%
Free Cash Flow Margin	35.47%	44.04%	50.10%	28.89%	17.48%
Free Cash Flow Per Share	3.42	4.31	4.91	2.53	1.32

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).