Independent Bank Corporation (IBCP)
NASDAQ: IBCP · Real-Time Price · USD
36.75
+0.64 (1.77%)
Sep 2, 2026, 4:00 PM EDT - Market closed
Independent Bank Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Interest Income on Loans | 241.42 | 238.83 | 228.59 | 197.73 | 139.06 | 116.64 |
Interest Income on Investments | 28.76 | 30.9 | 38.19 | 41.95 | 29.95 | 21.44 |
Total Interest Income | 270.18 | 269.74 | 266.78 | 239.68 | 169.01 | 138.08 |
Interest Paid on Deposits | 78.8 | 83.5 | 92.69 | 75.08 | 14.15 | 4.47 |
Interest Paid on Borrowings | 4.91 | 6.22 | 7.83 | 8.27 | 5.3 | 3.85 |
Total Interest Expense | 83.71 | 89.72 | 100.53 | 83.35 | 19.45 | 8.32 |
Net Interest Income | 186.47 | 180.02 | 166.25 | 156.33 | 149.56 | 129.77 |
Net Interest Income Growth | 7.78% | 8.28% | 6.35% | 4.52% | 15.25% | 4.98% |
Gain (Loss) on Sale of Investments | 1.43 | -0.37 | 2.26 | -0.22 | -0.28 | 1.41 |
Other Non-Interest Income | 31.78 | 27.21 | 35.66 | 31.1 | 43.47 | 29.18 |
Total Non-Interest Income | 51.28 | 45.64 | 56.36 | 50.68 | 61.91 | 76.64 |
Non-Interest Income Growth | 1.79% | -19.02% | 11.22% | -18.14% | -19.22% | -5.08% |
Revenues Before Loan Losses | 237.75 | 225.66 | 222.61 | 207.01 | 211.47 | 206.41 |
Provision for Loan Losses | 6.99 | 6.14 | 4.47 | 6.21 | 5.34 | -1.93 |
| 230.76 | 219.52 | 218.14 | 200.8 | 206.13 | 208.34 | |
Revenue Growth | 6.12% | 0.63% | 8.64% | -2.59% | -1.06% | 8.57% |
Salaries and Employee Benefits | 85.4 | 82.48 | 82.62 | 76.74 | 78.86 | 78.02 |
Occupancy Expenses | 7.24 | 7.07 | 6.29 | 6.28 | 7.1 | 7 |
Federal Deposit Insurance | 3.01 | 2.82 | 2.87 | 3.01 | 2.14 | 1.4 |
Selling, General & Administrative | 31.72 | 30.13 | 28.91 | 26.25 | 25.22 | 25.81 |
Other Non-Interest Expense | 16.44 | 15.74 | 14.41 | 14.84 | 15.02 | 18.8 |
Total Non-Interest Expense | 143.81 | 138.23 | 135.1 | 127.12 | 128.34 | 131.02 |
EBT Excluding Unusual Items | 86.95 | 81.29 | 83.05 | 73.68 | 77.79 | 77.31 |
Legal Settlements | -1.85 | - | - | - | - | - |
Pretax Income | 84.43 | 81.29 | 83.05 | 73.68 | 77.79 | 77.31 |
Income Tax Expense | 12.67 | 12.75 | 16.26 | 14.61 | 14.44 | 14.42 |
Net Income | 71.75 | 68.54 | 66.79 | 59.07 | 63.35 | 62.9 |
Net Income to Common | 71.75 | 68.54 | 66.79 | 59.07 | 63.35 | 62.9 |
Net Income Growth | 10.84% | 2.62% | 13.08% | -6.76% | 0.73% | 12.01% |
Basic Shares Outstanding | 21 | 21 | 21 | 21 | 21 | 22 |
Diluted Shares Outstanding | 21 | 21 | 21 | 21 | 21 | 22 |
Shares Change | -1.18% | -0.68% | -0.30% | -0.59% | -2.34% | -1.86% |
EPS (Basic) | 3.48 | 3.30 | 3.20 | 2.82 | 3.00 | 2.91 |
EPS (Diluted) | 3.45 | 3.27 | 3.16 | 2.79 | 2.97 | 2.88 |
EPS Growth | 12.77% | 3.48% | 13.26% | -6.06% | 3.13% | 13.83% |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Dividend Per Share | 1.080 | 1.040 | 0.960 | 0.920 | 0.880 | 0.840 |
Dividend Growth | 8.00% | 8.33% | 4.35% | 4.54% | 4.76% | 5.00% |
Effective Tax Rate | 15.01% | 15.68% | 19.57% | 19.83% | 18.56% | 18.65% |