Independent Bank Corporation (IBCP) — Financial statements
Income statement, balance sheet, and cash flow for Independent Bank Corporation — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 315↓0.3% | 316↑11.5% | 284↑26.6% | 224↑8.3% | 207 | |
| Cost of Revenue | 96↓8.4% | 105↑16.3% | 90↑253.7% | 25↑235.1% | 8 | |
| Gross Profit | 220↑3.7% | 212↑9.2% | 194↓2.5% | 199↓0.4% | 200 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 97↑9.5% | 89↑7.1% | 83↓1.3% | 84↑3.3% | 81 | |
| Selling & Marketing Expenses | 0.00↓100.0% | 3↑41.2% | 2↑4.4% | 2↑8.1% | 2 | |
| SG&A Expenses | 97↑5.9% | 92↑7.9% | 85↓1.2% | 86↑3.4% | 83 | |
| Other Expenses | 41↑11.4% | 37↑5.0% | 35↑0.4% | 35↓10.3% | 39 | |
| Operating Expenses | 138↑7.5% | 129↑7.1% | 120↓0.7% | 121↓1.0% | 122 | |
| Total Costs & Expenses | 234↑0.3% | 233↑11.0% | 210↑43.5% | 146↑12.8% | 130 | |
| Operating Results | ||||||
| Operating Income | 81↓2.1% | 83↑12.7% | 74↓5.3% | 78↑0.6% | 77 | |
| Depreciation & Amortization | 0.00↓100.0% | 10↓0.1% | 10↓7.5% | 11↓10.7% | 12 | |
| EBITDA | 81↓12.6% | 93↑11.2% | 84↓5.6% | 89↓0.9% | 89 | |
| EBIT | 81↓2.1% | 83↑12.7% | 74↓5.3% | 78↑0.6% | 77 | |
| Interest & Other Income | ||||||
| Net Interest Income | 180↑8.3% | 166↑6.3% | 156↑4.5% | 150↑15.3% | 130 | |
| Interest Income | 270↑1.1% | 267↑11.3% | 240↑41.8% | 169↑22.4% | 138 | |
| Interest Expense | 90↓10.7% | 101↑20.6% | 83↑328.6% | 19↑133.9% | 8 | |
| Non-Operating Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other Income / Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Income Before Tax | 81↓2.1% | 83↑12.7% | 74↓5.3% | 78↑0.6% | 77 | |
| Income Tax Expense | 13↓21.6% | 16↑11.3% | 15↑1.2% | 14↑0.1% | 14 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 69↑2.6% | 67↑13.1% | 59↓6.8% | 63↑0.7% | 63 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 69↑2.6% | 67↑13.1% | 59↓6.8% | 63↑0.7% | 63 | |
| Bottom-Line Net Income | 69↑2.6% | 67↑13.1% | 59↓6.8% | 63↑0.7% | 63 | |
| EPS (Basic) | 3.30↑3.1% | 3.20↑13.5% | 2.82↓6.0% | 3.00↑3.1% | 2.91 | |
| EPS (Diluted) | 3.27↑3.5% | 3.16↑13.3% | 2.79↓6.1% | 2.97↑3.1% | 2.88 | |
| Weighted Average Shares | 21↓1.0% | 21↓0.4% | 21↓0.8% | 21↓2.3% | 22 | |
| Weighted Average Diluted Shares | 21↓1.2% | 21↓0.2% | 21↓0.7% | 21↓2.3% | 22 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.