IBCP
Income statement / Annual
Last year (2024), Independent Bank Corporation's total revenue was $316.33 M,
an increase of 11.45% from the previous year.
In 2024, Independent Bank Corporation's net income was $66.79 M.
See Independent Bank Corporation,s key income statements, including revenue, expenses, profit, and income.
| Period |
FY-2024
|
FY-2023
|
FY-2022
|
FY-2021
|
FY-2020
|
FY-2019
|
FY-2018
|
FY-2017
|
FY-2016
|
FY-2015
|
| Period Ended |
12/31/2024 |
12/31/2023 |
12/31/2022 |
12/31/2021 |
12/31/2020 |
12/31/2019 |
12/31/2018 |
12/31/2017 |
12/31/2016 |
12/31/2015 |
| Operating Revenue |
$316.33 M |
$283.83 M |
$224.23 M |
$207.12 M |
$214.20 M |
$190.76 M |
$170.88 M |
$138.06 M |
$124.16 M |
$114.43 M |
| Cost of Revenue |
$104.65 M
|
$90.00 M
|
$25.44 M
|
$7.59 M
|
$28.94 M
|
$27.42 M
|
$18.99 M
|
$10.32 M
|
$5.57 M
|
$3.14 M
|
| Gross Profit |
$211.68 M
|
$193.83 M
|
$198.79 M
|
$199.52 M
|
$185.25 M
|
$163.35 M
|
$151.88 M
|
$127.74 M
|
$118.58 M
|
$111.29 M
|
| Gross Profit Ratio |
0.67
|
0.68
|
0.89
|
0.96
|
0.86
|
0.86
|
0.89
|
0.93
|
0.96
|
0.97
|
| Research and Development Expenses |
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
| General & Administrative Expenses |
$88.77 M
|
$82.92 M
|
$84.02 M
|
$81.37 M
|
$79.57 M
|
$80.04 M
|
$74.27 M
|
$66.32 M
|
$61.72 M
|
$60.45 M
|
| Selling & Marketing Expenses |
$3.06 M
|
$2.17 M
|
$2.07 M
|
$1.92 M
|
$2.23 M
|
$2.45 M
|
$2.16 M
|
$1.91 M
|
$1.86 M
|
$2.12 M
|
| Selling, General & Administrative Expenses |
$91.83 M
|
$85.09 M
|
$86.09 M
|
$83.28 M
|
$81.80 M
|
$82.49 M
|
$76.42 M
|
$68.23 M
|
$63.58 M
|
$62.57 M
|
| Other Expenses |
$36.80 M
|
$35.06 M
|
$34.91 M
|
$38.93 M
|
$33.97 M
|
$23.10 M
|
$26.33 M
|
$21.07 M
|
$22.11 M
|
$19.33 M
|
| Operating Expenses |
$128.63 M
|
$120.15 M
|
$121.00 M
|
$122.21 M
|
$115.77 M
|
$105.59 M
|
$102.75 M
|
$89.30 M
|
$85.68 M
|
$81.91 M
|
| Cost And Expenses |
$233.28 M
|
$210.15 M
|
$146.44 M
|
$129.80 M
|
$144.71 M
|
$133.00 M
|
$121.74 M
|
$99.62 M
|
$91.26 M
|
$85.05 M
|
| Interest Income |
$266.78 M
|
$239.68 M
|
$169.01 M
|
$138.08 M
|
$139.83 M
|
$148.93 M
|
$130.77 M
|
$98.31 M
|
$86.52 M
|
$80.84 M
|
| Interest Expense |
$100.53 M
|
$83.35 M
|
$19.45 M
|
$8.32 M
|
$16.22 M
|
$26.35 M
|
$17.49 M
|
$9.12 M
|
$6.88 M
|
$5.86 M
|
| Depreciation & Amortization |
$10.01 M
|
$10.02 M
|
$10.83 M
|
$12.13 M
|
$9.16 M
|
$6.06 M
|
$6.03 M
|
$6.96 M
|
$5.22 M
|
$4.55 M
|
| EBITDA |
$93.05 M |
$83.70 M |
$88.62 M |
$89.44 M |
$78.64 M |
$63.82 M |
$55.17 M |
$45.40 M |
$38.12 M |
$33.93 M |
| EBITDA Ratio |
0.29
|
0.29
|
0.4
|
0.43
|
0.37
|
0.33
|
0.32
|
0.33
|
0.31
|
0.3
|
| Operating Income Ratio |
0.26
|
0.26
|
0.35
|
0.37
|
0.32
|
0.3
|
0.29
|
0.28
|
0.26
|
0.26
|
| Total Other Income/Expenses Net |
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
| Income Before Tax |
$83.05 M
|
$73.68 M
|
$77.79 M
|
$77.31 M
|
$69.48 M
|
$57.76 M
|
$49.13 M
|
$38.44 M
|
$32.90 M
|
$29.38 M
|
| Income Before Tax Ratio |
0.26
|
0.26
|
0.35
|
0.37
|
0.32
|
0.3
|
0.29
|
0.28
|
0.26
|
0.26
|
| Income Tax Expense |
$16.26 M
|
$14.61 M
|
$14.44 M
|
$14.42 M
|
$13.33 M
|
$11.33 M
|
$9.29 M
|
$17.96 M
|
$10.14 M
|
$9.36 M
|
| Net Income |
$66.79 M
|
$59.07 M
|
$63.35 M
|
$62.90 M
|
$56.15 M
|
$46.44 M
|
$39.84 M
|
$20.48 M
|
$22.77 M
|
$20.02 M
|
| Net Income Ratio |
0.21
|
0.21
|
0.28
|
0.3
|
0.26
|
0.24
|
0.23
|
0.15
|
0.18
|
0.17
|
| EPS |
3.2 |
2.82 |
3 |
2.91 |
2.56 |
2.03 |
1.7 |
0.96 |
1.06 |
0.88 |
| EPS Diluted |
3.16 |
2.79 |
2.97 |
2.88 |
2.53 |
2 |
1.68 |
0.95 |
1.05 |
0.86 |
| Weighted Average Shares Out |
$20.87 M
|
$20.95 M
|
$21.12 M
|
$21.61 M
|
$21.93 M
|
$22.87 M
|
$23.44 M
|
$21.33 M
|
$21.48 M
|
$22.72 M
|
| Weighted Average Shares Out Diluted |
$21.14 M
|
$21.17 M
|
$21.33 M
|
$21.84 M
|
$22.19 M
|
$23.22 M
|
$23.71 M
|
$21.55 M
|
$21.68 M
|
$23.18 M
|
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