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	Sep '26 Sep 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	249.1	238.83	228.59	197.73	139.06	116.64
Interest Income on Investments	29.11	30.9	38.19	41.95	29.95	21.44
Total Interest Income	278.2	269.74	266.78	239.68	169.01	138.08
Interest Paid on Deposits	78.12	83.5	92.69	75.08	14.15	4.47
Interest Paid on Borrowings	3.72	6.22	7.83	8.27	5.3	3.85
Total Interest Expense	81.84	89.72	100.53	83.35	19.45	8.32
Net Interest Income	196.37	180.02	166.25	156.33	149.56	129.77
Net Interest Income Growth	11.25%	8.28%	6.35%	4.52%	15.25%	4.98%
Gain (Loss) on Sale of Investments	1.52	-0.37	2.26	-0.22	-0.28	1.41
Other Non-Interest Income	35.81	27.21	35.66	31.1	43.47	29.18
Total Non-Interest Income	55.15	45.64	56.36	50.68	61.91	76.64
Non-Interest Income Growth	4.43%	-19.02%	11.22%	-18.14%	-19.22%	-5.08%
Revenues Before Loan Losses	251.52	225.66	222.61	207.01	211.47	206.41
Provision for Loan Losses	9.81	6.14	4.47	6.21	5.34	-1.93
Revenue	241.71	219.52	218.14	200.8	206.13	208.34
Revenue Growth	8.44%	0.63%	8.64%	-2.59%	-1.06%	8.57%
Salaries and Employee Benefits	88.72	82.48	82.62	76.74	78.86	78.02
Occupancy Expenses	7.58	7.07	6.29	6.28	7.1	7
Federal Deposit Insurance	3.22	2.82	2.87	3.01	2.14	1.4
Selling, General & Administrative	33.3	30.13	28.91	26.25	25.22	25.81
Other Non-Interest Expense	18.17	15.74	14.41	14.84	15.02	18.8
Total Non-Interest Expense	150.98	138.23	135.1	127.12	128.34	131.02
EBT Excluding Unusual Items	90.73	81.29	83.05	73.68	77.79	77.31
Legal Settlements	-1.85	-	-	-	-	-
Pretax Income	84.75	81.29	83.05	73.68	77.79	77.31
Income Tax Expense	12.65	12.75	16.26	14.61	14.44	14.42
Net Income	72.1	68.54	66.79	59.07	63.35	62.9
Net Income to Common	72.1	68.54	66.79	59.07	63.35	62.9
Net Income Growth	5.37%	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	0.85%	-0.68%	-0.30%	-0.59%	-2.34%	-1.86%
EPS (Basic)	3.44	3.30	3.20	2.82	3.00	2.91
EPS (Diluted)	3.40	3.27	3.16	2.79	2.97	2.88
EPS Growth	4.61%	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	Sep '26 Sep 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	1.100	1.040	0.960	0.920	0.880	0.840
Dividend Growth	7.84%	8.33%	4.35%	4.54%	4.76%	5.00%
Effective Tax Rate	14.92%	15.68%	19.57%	19.83%	18.56%	18.65%

SEC Filings: 10-K · 10-Q