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	1,052	923.02	789.99	730.2	578.1	382.29
Interest Income on Investments	120.23	99.38	62.77	65.53	64.75	32.99
Total Interest Income	1,172	1,022	852.75	795.73	642.84	415.28
Interest Paid on Deposits	289.69	274.4	246.96	144.75	24.65	8.33
Interest Paid on Borrowings	42.94	39.17	44.06	44.45	4.94	5.39
Total Interest Expense	332.63	313.57	291.02	189.21	29.59	13.72
Net Interest Income	839.22	708.83	561.73	606.52	613.25	401.56
Net Interest Income Growth	44.85%	26.19%	-7.38%	-1.10%	52.72%	9.20%
Trust Income	56.57	50.05	42.74	40.19	36.83	35.31
Mortgage Banking Activities	5.16	4.53	4.14	2.33	3.52	13.28
Gain (Loss) on Sale of Assets	-	-	-	-	-	-0.14
Gain (Loss) on Sale of Investments	0.43	0.4	0.42	1.18	-3.06	0.55
Other Non-Interest Income	65.74	61.57	54.25	57.43	50.95	39.96
Total Non-Interest Income	164.49	148.69	128.01	124.61	111.61	105.71
Non-Interest Income Growth	24.06%	16.15%	2.73%	11.65%	5.58%	-3.93%
Revenues Before Loan Losses	1,004	857.52	689.74	731.13	724.86	507.27
Provision for Loan Losses	55.02	65.47	36.25	23.25	6.5	18.21
Revenue	948.69	792.05	653.49	707.88	718.36	489.07
Revenue Growth	43.14%	21.20%	-7.68%	-1.46%	46.88%	15.00%
Salaries and Employee Benefits	313.72	279.47	227.73	216.36	200.92	169.01
Occupancy Expenses	49.07	42.61	37.67	36.08	32.45	21.69
Federal Deposit Insurance	13.63	12.5	10.89	11.95	6.95	3.98
Amortization of Goodwill & Intangibles	28.05	16.91	5.91	6.88	7.66	5.72
Selling, General & Administrative	73.94	65.02	55.56	55.28	53.78	41.47
Other Non-Interest Expense	79.77	72.77	66.11	65.6	61.08	48.96
Total Non-Interest Expense	559.13	490.25	404.46	392.75	363.5	291.55
EBT Excluding Unusual Items	389.56	301.81	249.03	315.13	354.85	197.52
Pretax Income	350.3	262.17	247.13	315.13	347.75	156.68
Income Tax Expense	78.94	57.05	55.05	75.63	83.94	35.68
Net Income	271.35	205.12	192.08	239.5	263.81	120.99
Net Income to Common	271.35	205.12	192.08	239.5	263.81	120.99
Net Income Growth	43.95%	6.79%	-19.80%	-9.21%	118.04%	-0.14%
Basic Shares Outstanding	49	46	42	44	46	35
Diluted Shares Outstanding	49	46	43	44	46	35
Shares Change	15.51%	8.65%	-3.81%	-4.74%	32.97%	4.82%
EPS (Basic)	5.52	4.44	4.52	5.42	5.69	3.47
EPS (Diluted)	5.52	4.44	4.52	5.42	5.69	3.47
EPS Growth	24.57%	-1.76%	-16.61%	-4.73%	63.97%	-4.68%

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	2.460	2.360	2.280	2.200	2.080	1.920
Dividend Growth	6.03%	3.51%	3.64%	5.77%	8.33%	4.35%
Effective Tax Rate	22.54%	21.76%	22.27%	24.00%	24.14%	22.78%

SEC Filings: 10-K · 10-Q