Independent Bank Income Statement

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
Net Interest Income	708.83	561.73	606.52	613.25	401.56
Net Interest Income Growth	26.19%	-7.38%	-1.10%	52.72%	9.20%
Non-Interest Income	148.69	128.01	124.61	114.67	105.85
Non-Interest Income Growth	16.15%	2.73%	8.67%	8.33%	-5.02%
Revenues Before Loan Losses	857.52	689.74	731.13	727.92	507.41
Provision for Credit Losses	65.47	36.25	23.25	6.5	18.21
Revenue	792.05	653.49	707.88	721.42	489.2
Revenue Growth (YoY)	21.20%	-7.68%	-1.88%	47.47%	14.66%
Compensation Expenses	287.5	233.65	222.14	204.71	172.59
Selling, General & Admin	42.01	35.23	35	32.59	23.32
Other Non-Interest Expenses	200.37	137.48	135.61	136.36	136.62
Total Non-Interest Expense	529.88	406.37	392.75	373.66	332.53
Pretax Income	262.17	247.13	315.13	347.75	156.68
Provision for Income Taxes	57.05	55.05	75.63	83.94	35.68
Net Income	205.12	192.08	239.5	263.81	120.99
Net Income to Common	205.12	192.08	239.5	263.81	120.99
Net Income Growth	6.79%	-19.80%	-9.21%	118.04%	-0.14%
Shares Outstanding (Basic)	46	42	44	46	35
Shares Outstanding (Diluted)	46	43	44	46	35
Shares Change (YoY)	8.65%	-3.81%	-4.74%	32.97%	4.82%
EPS (Basic)	4.44	4.52	5.42	5.69	3.47
EPS (Diluted)	4.44	4.52	5.42	5.69	3.47
EPS Growth	-1.77%	-16.61%	-4.75%	63.98%	-4.67%
Free Cash Flow	239.03	209.49	261.15	399.13	165.02
Free Cash Flow Growth	14.10%	-19.78%	-34.57%	141.87%	217.04%
Free Cash Flow Per Share	5.17	4.93	5.91	8.60	4.73
Dividends Per Share	2.360	2.280	2.200	2.080	1.920
Dividend Growth	3.51%	3.64%	5.77%	8.33%	4.35%
Profit Margin	25.90%	29.39%	33.83%	36.57%	24.73%
FCF Margin	30.18%	32.06%	36.89%	55.33%	33.73%
EBITDA	42.14	40.89	36.1	38.8	32.82
EBITDA Margin	5.32%	6.26%	5.10%	5.38%	6.71%
Effective Tax Rate	21.76%	22.27%	24.00%	24.14%	22.78%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q