Independent Bank Corp. (INDB) — Financial statements
Income statement, balance sheet, and cash flow for Independent Bank Corp. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 1,167↑19.8% | 974↑6.9% | 911↑21.5% | 750↑45.3% | 516 | |
| Cost of Revenue | 374↑14.4% | 327↑54.0% | 212↑488.7% | 36↑13.1% | 32 | |
| Gross Profit | 793↑22.6% | 647↓7.4% | 699↓2.1% | 714↑47.4% | 484 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 296↑21.0% | 245↑4.5% | 234↑10.6% | 212↑19.9% | 177 | |
| Selling & Marketing Expenses | 2 | 0.00 | 0.00 | 0.00 | 0.00 | |
| SG&A Expenses | 298↑21.8% | 245↑4.5% | 234↑10.6% | 212↑19.9% | 177 | |
| Other Expenses | 228↑47.1% | 155↑3.7% | 150↓3.0% | 154↑2.3% | 151 | |
| Operating Expenses | 526↑31.6% | 400↑4.2% | 384↑4.9% | 366↑11.8% | 327 | |
| Total Costs & Expenses | 900↑23.8% | 727↑21.9% | 596↑48.3% | 402↑11.9% | 359 | |
| Operating Results | ||||||
| Operating Income | 267↑8.0% | 247↓21.6% | 315↓9.4% | 348↑122.0% | 157 | |
| Depreciation & Amortization | 39↓3.9% | 41↑13.3% | 36↓7.0% | 39↑18.2% | 33 | |
| EBITDA | 306↑6.3% | 288↓18.0% | 351↓9.1% | 387↑104.0% | 189 | |
| EBIT | 267↑8.0% | 247↓21.6% | 315↓9.4% | 348↑122.0% | 157 | |
| Interest & Other Income | ||||||
| Net Interest Income | 709↑26.2% | 562↓7.4% | 607↓1.1% | 613↑52.7% | 402 | |
| Interest Income | 1,022↑19.9% | 853↑7.2% | 796↑23.8% | 643↑54.8% | 415 | |
| Interest Expense | 314↑7.7% | 291↑53.8% | 189↑539.4% | 30↑115.7% | 14 | |
| Non-Operating Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other Income / Expenses | -5 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Income Before Tax | 262↑6.1% | 247↓21.6% | 315↓9.4% | 348↑122.0% | 157 | |
| Income Tax Expense | 57↑3.6% | 55↓27.2% | 76↓9.9% | 84↑135.2% | 36 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 205↑6.8% | 192↓19.8% | 240↓9.2% | 264↑118.0% | 121 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 205↑6.8% | 192↓19.8% | 240↓9.2% | 264↑118.0% | 121 | |
| Bottom-Line Net Income | 205↑6.8% | 192↓19.8% | 240↓9.2% | 264↑118.0% | 121 | |
| EPS (Basic) | 4.45↓1.5% | 4.52↓16.6% | 5.42↓4.7% | 5.69↑64.0% | 3.47 | |
| EPS (Diluted) | 4.45↓1.5% | 4.52↓16.6% | 5.42↓4.7% | 5.69↑64.0% | 3.47 | |
| Weighted Average Shares | 49↑16.4% | 42↓3.8% | 44↓4.7% | 46↑33.0% | 35 | |
| Weighted Average Diluted Shares | 49↑16.4% | 43↓3.8% | 44↓4.7% | 46↑33.0% | 35 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.