IBCP
Income statement / Annual
Last year (2023), Independent Bank Corporation's total revenue was $200.80 M,
a decrease of 1.85% from the previous year.
In 2023, Independent Bank Corporation's net income was $59.07 M.
See Independent Bank Corporation’s key income statements, including revenue, expenses, profit, and income.
| Period |
FY-2023
|
FY-2022
|
FY-2021
|
FY-2020
|
FY-2019
|
FY-2018
|
FY-2017
|
FY-2016
|
FY-2015
|
FY-2014
|
| Period Ended |
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 |
12/31/2014 |
| Operating Revenue |
$200.80 M
|
$204.57 M
|
$199.03 M
|
$197.52 M
|
$164.10 M
|
$152.97 M
|
$128.41 M
|
$117.28 M
|
$108.57 M
|
$104.40 M
|
| Cost of Revenue |
-$93.76 M |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
| Gross Profit |
$294.56 M |
$204.57 M |
$199.03 M |
$197.52 M |
$164.10 M |
$152.97 M |
$128.41 M |
$117.28 M |
$108.57 M |
$104.40 M |
| Gross Profit Ratio |
1.47 |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
| 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 |
$81.97 M
|
$83.15 M
|
$95.27 M
|
$88.11 M
|
$80.04 M
|
$74.27 M
|
$66.32 M
|
$61.72 M
|
$60.45 M
|
$59.25 M
|
| Selling & Marketing
Expenses |
$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
|
$2.19 M
|
| Selling, General &
Administrative Expenses |
$109.27 M
|
$85.22 M
|
$97.19 M
|
$90.34 M
|
$82.49 M
|
$76.42 M
|
$68.23 M
|
$63.58 M
|
$62.57 M
|
$61.44 M
|
| Other Expenses |
$0.00 |
-$192.56 M |
-$218.91 M |
-$218.37 M |
-$188.82 M |
-$162.77 M |
-$149.08 M |
-$141.07 M |
-$135.91 M |
-$133.33 M |
| Operating Expenses |
$109.27 M |
-$107.34 M |
-$121.72 M |
-$128.04 M |
-$106.34 M |
-$86.35 M |
-$80.85 M |
-$77.49 M |
-$73.34 M |
-$71.89 M |
| Cost And Expenses |
$109.27 M |
-$107.34 M |
-$121.72 M |
-$128.04 M |
-$106.34 M |
-$86.35 M |
-$80.85 M |
-$77.49 M |
-$73.34 M |
-$71.89 M |
| Interest Income |
$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 |
$80.56 M |
| Interest Expense |
$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 |
$7.30 M |
| Depreciation &
Amortization |
$10.02 M
|
$6.09 M
|
$6.37 M
|
$6.32 M
|
$6.29 M
|
$6.07 M
|
$5.65 M
|
$6.15 M
|
$4.55 M
|
$3.01 M
|
| EBITDA |
$79.42 M
|
$83.87 M
|
$83.68 M
|
$78.64 M
|
$63.82 M
|
$55.17 M
|
$39.43 M
|
$38.12 M
|
$33.93 M
|
$0.00
|
| EBITDA Ratio |
0.4 |
0.53 |
0.45 |
0.4 |
0.39 |
0.47 |
0.42 |
0.38 |
0.37 |
0.34 |
| Operating Income Ratio
|
0.46
|
0.48
|
0.39
|
0.35
|
0.35
|
0.44
|
0.37
|
0.34
|
0.32
|
0.31
|
| Total Other
Income/Expenses Net |
-$17.85 M
|
-$17.16 M
|
-$20.20 M
|
-$417,000.00
|
$0.00
|
-$3.47 M
|
-$10.88 M
|
-$13.18 M
|
$1.19 M
|
-$9,000.00
|
| Income Before Tax |
$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 |
$25.22 M |
| Income Before Tax Ratio
|
0.37
|
0.38
|
0.39
|
0.35
|
0.35
|
0.32
|
0.3
|
0.28
|
0.27
|
0.24
|
| Income Tax Expense |
$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 |
$7.20 M |
| Net Income |
$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 |
$18.02 M |
| Net Income Ratio |
0.29 |
0.31 |
0.32 |
0.28 |
0.28 |
0.26 |
0.16 |
0.19 |
0.18 |
0.17 |
| EPS |
2.82 |
3 |
2.91 |
2.56 |
2.03 |
1.7 |
0.96 |
1.06 |
0.88 |
0.79 |
| EPS Diluted |
2.79 |
2.97 |
2.88 |
2.53 |
2 |
1.68 |
0.95 |
1.05 |
0.86 |
0.77 |
| Weighted Average Shares
Out |
$20.98 M
|
$21.10 M
|
$21.59 M
|
$21.98 M
|
$22.89 M
|
$23.41 M
|
$21.33 M
|
$21.48 M
|
$22.72 M
|
$22.93 M
|
| Weighted Average Shares
Out Diluted |
$21.17 M
|
$21.30 M
|
$21.81 M
|
$22.22 M
|
$23.18 M
|
$23.77 M
|
$21.65 M
|
$21.68 M
|
$23.18 M
|
$23.47 M
|
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