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	1,056	923.02	789.99	730.2	578.1	382.29
Interest Income on Investments	125.09	99.38	62.77	65.53	64.75	32.99
Total Interest Income	1,181	1,022	852.75	795.73	642.84	415.28
Interest Paid on Deposits	282.54	274.4	246.96	144.75	24.65	8.33
Interest Paid on Borrowings	42.41	39.17	44.06	44.45	4.94	5.39
Total Interest Expense	324.95	313.57	291.02	189.21	29.59	13.72
Net Interest Income	856.53	708.83	561.73	606.52	613.25	401.56
Net Interest Income Growth	33.62%	26.19%	-7.38%	-1.10%	52.72%	9.20%
Trust Income	57.42	50.05	42.74	40.19	36.83	35.31
Mortgage Banking Activities	4.65	4.53	4.14	2.33	3.52	13.28
Gain (Loss) on Sale of Assets	-	-	-	-	-	-0.14
Gain (Loss) on Sale of Investments	0.4	0.4	0.42	1.18	-3.06	0.55
Other Non-Interest Income	65.22	61.57	54.25	57.43	50.95	39.96
Total Non-Interest Income	165.38	148.69	128.01	124.61	111.61	105.71
Non-Interest Income Growth	18.61%	16.15%	2.73%	11.65%	5.58%	-3.93%
Revenues Before Loan Losses	1,022	857.52	689.74	731.13	724.86	507.27
Provision for Loan Losses	23	65.47	36.25	23.25	6.5	18.21
Revenue	998.92	792.05	653.49	707.88	718.36	489.07
Revenue Growth	40.25%	21.20%	-7.68%	-1.46%	46.88%	15.00%
Salaries and Employee Benefits	313.79	279.47	227.73	216.36	200.92	169.01
Occupancy Expenses	49.92	42.61	37.67	36.08	32.45	21.69
Federal Deposit Insurance	13.08	12.5	10.89	11.95	6.95	3.98
Amortization of Goodwill & Intangibles	26.96	16.91	5.91	6.88	7.66	5.72
Selling, General & Administrative	66.31	65.02	55.56	55.28	53.78	41.47
Other Non-Interest Expense	89.58	72.77	66.11	65.6	61.08	48.96
Total Non-Interest Expense	560.61	490.25	404.46	392.75	363.5	291.55
EBT Excluding Unusual Items	438.31	301.81	249.03	315.13	354.85	197.52
Pretax Income	422.94	262.17	247.13	315.13	347.75	156.68
Income Tax Expense	96.1	57.05	55.05	75.63	83.94	35.68
Net Income	326.84	205.12	192.08	239.5	263.81	120.99
Net Income to Common	326.84	205.12	192.08	239.5	263.81	120.99
Net Income Growth	81.76%	6.79%	-19.80%	-9.21%	118.04%	-0.14%
Basic Shares Outstanding	48	46	42	44	46	35
Diluted Shares Outstanding	48	46	43	44	46	35
Shares Change	9.03%	8.65%	-3.81%	-4.74%	32.97%	4.82%
EPS (Basic)	6.75	4.44	4.52	5.42	5.69	3.47
EPS (Diluted)	6.74	4.44	4.52	5.42	5.69	3.47
EPS Growth	66.62%	-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	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	2.510	2.360	2.280	2.200	2.080	1.920
Dividend Growth	7.27%	3.51%	3.64%	5.77%	8.33%	4.35%
Effective Tax Rate	22.72%	21.76%	22.27%	24.00%	24.14%	22.78%

SEC Filings: 10-K · 10-Q