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	Mar '26 Mar 31, 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
Net Interest Income	775.79	708.83	561.73	606.52	613.25	401.56
Net Interest Income Growth	36.15%	26.19%	-7.38%	-1.10%	52.72%	9.20%
Non-Interest Income	156.41	148.69	128.01	124.61	114.67	105.85
Non-Interest Income Growth	19.75%	16.15%	2.73%	8.67%	8.33%	-5.02%
Revenues Before Loan Losses	932.2	857.52	689.74	731.13	727.92	507.41
Provision for Credit Losses	55.97	65.47	36.25	23.25	6.5	18.21
Revenue	876.23	792.05	653.49	707.88	721.42	489.2
Revenue Growth (YoY)	33.95%	21.20%	-7.68%	-1.88%	47.47%	14.66%
Compensation Expenses	306.31	287.5	233.65	222.14	204.71	172.59
Selling, General & Admin	40.87	42.01	35.23	35	32.59	23.32
Other Non-Interest Expenses	235.4	200.37	137.48	135.61	136.36	136.62
Total Non-Interest Expense	566.92	529.88	406.37	392.75	373.66	332.53
Pretax Income	309.31	262.17	247.13	315.13	347.75	156.68
Provision for Income Taxes	68.69	57.05	55.05	75.63	83.94	35.68
Net Income	240.62	205.12	192.08	239.5	263.81	120.99
Net Income to Common	240.62	205.12	192.08	239.5	263.81	120.99
Net Income Growth	27.49%	6.79%	-19.80%	-9.21%	118.04%	-0.14%
Shares Outstanding (Basic)	48	46	42	44	46	35
Shares Outstanding (Diluted)	48	46	43	44	46	35
Shares Change (YoY)	12.36%	8.65%	-3.81%	-4.74%	32.97%	4.82%
EPS (Basic)	5.04	4.44	4.52	5.42	5.69	3.47
EPS (Diluted)	5.04	4.44	4.52	5.42	5.69	3.47
EPS Growth	13.51%	-1.77%	-16.61%	-4.75%	63.98%	-4.67%
Shares Outstanding	48.57	49.24	42.5	43.85	45.64	47.35
Free Cash Flow	339.33	239.03	209.49	261.15	399.13	165.02
Free Cash Flow Growth	41.96%	14.10%	-19.78%	-34.57%	141.87%	217.04%
Free Cash Flow Per Share	7.10	5.17	4.93	5.91	8.60	4.73
Dividends Per Share	2.410	2.360	2.280	2.200	2.080	1.920
Dividend Growth	2.12%	3.51%	3.64%	5.77%	8.33%	4.35%
Profit Margin	27.46%	25.90%	29.39%	33.83%	36.57%	24.73%
FCF Margin	38.73%	30.18%	32.06%	36.89%	55.33%	33.73%
EBITDA	42.06	42.14	40.89	36.1	38.8	32.82
EBITDA Margin	4.80%	5.32%	6.26%	5.10%	5.38%	6.71%
Effective Tax Rate	22.21%	21.76%	22.27%	24.00%	24.14%	22.78%

SEC Filings: 10-K · 10-Q