Independent Bank (IBCP) Financial Statements & Analysis

Independent Bank (IBCP) Income Statement

Independent Bank reported revenue of $219.52M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 0.6% from $218.14M a year earlier. Net income was $68.54M, up 2.6% year over year, a net margin of 31.2%. Gross margin was 100.0% and operating margin 37.0%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $60.98M, up 12.8% from the same quarter a year earlier.

Independent Bank Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Independent Bank Corporation income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	219.52	218.14	200.80	224.23	208.34	214.20	190.76	170.88	138.06
Cost of Revenue	95.86	104.65	90.00	25.44	7.59	28.94	27.42	18.99	10.32
Gross Profit	219.52	211.68	193.83	198.79	199.52	185.25	163.35	151.88	127.74
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	34.48	32.87	30.31	86.09	30.86	81.80	82.49	76.42	68.23
Operating Expenses	138.23	128.63	120.15	121.00	122.21	115.77	105.59	102.75	89.30
Operating Income	81.29	83.05	73.68	77.79	77.31	69.48	57.76	49.13	38.44
Other Income/Expense
Interest Income	269.74	266.78	239.68	169.01	138.08	139.83	148.93	130.77	98.31
Interest Expense	89.72	100.53	83.35	19.45	8.32	16.22	26.35	17.49	9.12
Other Income/Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	81.29	83.05	73.68	77.79	77.31	69.48	57.76	49.13	38.44
Income Tax Expense	12.75	16.26	14.61	14.44	14.42	13.33	11.33	9.29	17.96
Net Income	68.54	66.79	59.07	63.35	62.90	56.15	46.44	39.84	20.48
Net Income - Continuous Operations	68.54	66.79	59.07	63.35	62.90	56.15	46.44	39.84	20.48
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	9.91	10.01	10.02	88.62	12.13	78.64	63.82	55.17	45.40
EBIT	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	0.49	10.01	10.02	10.83	12.13	9.16	6.06	6.03	6.96
Earnings Per Share
Basic EPS	3.00	3.00	3.00	3.00	3.00	3.00	2.00	2.00	1.00
Diluted EPS	3.00	3.00	3.00	3.00	3.00	3.00	2.00	2.00	1.00
Basic Shares Outstanding	20.76	20.89	20.98	21.12	21.59	21.93	22.87	23.44	21.33
Diluted Shares Outstanding	20.96	21.11	21.17	21.33	21.81	22.19	23.22	23.71	21.55

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Independent Bank Financial Statements

What was Independent Bank's revenue in fiscal 2025?

Independent Bank reported revenue of $219.52M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 0.6% from $218.14M a year earlier.

Is Independent Bank profitable?

Yes. Independent Bank earned net income of $68.54M in fiscal 2025, a net margin of 31.2%. In fiscal 2024 it earned $66.79M.

What is Independent Bank's operating margin?

Independent Bank's operating income was $81.29M on revenue of $219.52M in fiscal 2025, an operating margin of 37.0%, compared with 38.1% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition