
Independent Bank Corporation
NASDAQ:IBCP
32.41 (USD) • At close June 30, 2025
Overview | Financials
Numbers are in millions (except for per share data and ratios) USD.
2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | 1988 | 1987 | 1986 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue
| 316.33 | 283.828 | 224.232 | 207.117 | 214.195 | 190.764 | 170.876 | 138.062 | 124.157 | 114.428 | 111.701 | 120.919 | 140.852 | 138.238 | 170.512 | 248.857 | 233.623 | 270.399 | 258.945 | 235.861 | 192.486 | 181.97 | 160.726 | 161.437 | 151.802 | 142.823 | 145 | 132.2 | 65.1 | 49.8 | 40.9 | 35.3 | 36 | 38.2 | 36.4 | 34.3 | 0 | 0 | 0 |
Cost of Revenue
| 104.651 | 90.002 | 25.444 | 7.594 | 28.943 | 27.417 | 18.994 | 10.322 | 5.573 | 3.142 | 3.697 | 7.236 | 20.454 | 50.096 | 83.642 | 153.851 | 144.908 | 145.823 | 110.042 | 70.905 | 47.006 | 48.145 | 51.57 | 66.197 | 71.152 | 61.4 | 68.3 | 68 | 26 | 18.5 | 13.1 | 11.9 | 15 | 19.8 | 20.4 | 19.8 | 0 | 0 | 0 |
Gross Profit
| 211.679 | 193.826 | 198.788 | 199.523 | 185.252 | 163.347 | 151.882 | 127.74 | 118.584 | 111.286 | 108.004 | 113.683 | 120.398 | 88.142 | 86.87 | 95.006 | 88.715 | 124.576 | 148.903 | 164.956 | 145.48 | 133.825 | 109.156 | 95.24 | 80.65 | 81.423 | 76.7 | 64.2 | 39.1 | 31.3 | 27.8 | 23.4 | 21 | 18.4 | 16 | 14.5 | 0 | 0 | 0 |
Gross Profit Ratio
| 0.669 | 0.683 | 0.887 | 0.963 | 0.865 | 0.856 | 0.889 | 0.925 | 0.955 | 0.973 | 0.967 | 0.94 | 0.855 | 0.638 | 0.509 | 0.382 | 0.38 | 0.461 | 0.575 | 0.699 | 0.756 | 0.735 | 0.679 | 0.59 | 0.531 | 0.57 | 0.529 | 0.486 | 0.601 | 0.629 | 0.68 | 0.663 | 0.583 | 0.482 | 0.44 | 0.423 | 0 | 0 | 0 |
Reseach & Development Expenses
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
General & Administrative Expenses
| 88.774 | 82.921 | 84.017 | 81.365 | 79.571 | 80.038 | 74.269 | 66.324 | 61.722 | 60.453 | 59.246 | 61.297 | 68.975 | 66.117 | 70.957 | 80.891 | 62.327 | 55.811 | 50.801 | 52.147 | 47.166 | 43.558 | 37.343 | 31.545 | 28.314 | 34.3 | 32.3 | 26.5 | 15.7 | 12.2 | 10.6 | 8.5 | 7.4 | 6.3 | 5.6 | 5.2 | 0 | 0 | 0 |
Selling & Marketing Expenses
| 3.058 | 2.165 | 2.074 | 1.918 | 2.23 | 2.45 | 2.155 | 1.905 | 1.856 | 2.121 | 2.193 | 2.433 | 2.494 | 2.503 | 2.712 | 5.696 | 5.534 | 5.514 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
SG&A
| 91.832 | 85.086 | 86.091 | 83.283 | 81.801 | 82.488 | 76.424 | 68.229 | 63.578 | 62.574 | 61.439 | 63.73 | 71.469 | 68.62 | 73.669 | 86.587 | 67.861 | 61.325 | 50.801 | 52.147 | 47.166 | 43.558 | 37.343 | 31.545 | 28.314 | 34.3 | 32.3 | 26.5 | 15.7 | 12.2 | 10.6 | 8.5 | 7.4 | 6.3 | 5.6 | 5.2 | 0 | 0 | 0 |
Other Expenses
| 36.801 | 35.064 | 34.909 | 38.927 | 33.97 | 23.099 | 26.325 | 21.073 | 22.105 | 19.332 | 21.349 | 27.295 | 22.731 | 39.934 | 31.5 | 101.856 | 109.455 | 54.399 | 52.615 | 49.638 | 43.289 | 38.948 | 30.95 | 29.974 | 25.061 | 35.123 | 27.4 | 34.3 | 12.2 | 9.6 | 8.9 | 7.4 | 6.9 | 6.7 | 6.4 | 5.9 | 1.8 | 1.5 | 1.4 |
Operating Expenses
| 128.633 | 120.15 | 121 | 122.21 | 115.771 | 105.587 | 102.749 | 89.302 | 85.683 | 81.906 | 82.788 | 91.025 | 94.2 | 108.554 | 105.169 | 188.443 | 177.316 | 115.724 | 103.416 | 101.785 | 90.455 | 82.506 | 68.293 | 61.519 | 53.375 | 69.423 | 59.7 | 60.8 | 27.9 | 21.8 | 19.5 | 15.9 | 14.3 | 13 | 12 | 11.1 | 1.8 | 1.5 | 1.4 |
Operating Income
| 83.046 | 73.676 | 77.788 | 77.313 | 69.481 | 57.76 | 49.133 | 38.438 | 32.901 | 29.38 | 25.216 | 22.658 | 26.198 | -20.412 | -18.299 | -93.437 | -88.601 | 8.852 | 45.487 | 63.171 | 55.025 | 51.319 | 40.863 | 33.721 | 27.275 | 12 | 17 | 3.4 | 11.2 | 9.5 | 8.3 | 7.5 | 6.7 | 5.4 | 4 | 3.4 | 1.8 | 1.5 | 1.4 |
Operating Income Ratio
| 0.263 | 0.26 | 0.347 | 0.373 | 0.324 | 0.303 | 0.288 | 0.278 | 0.265 | 0.257 | 0.226 | 0.187 | 0.186 | -0.148 | -0.107 | -0.375 | -0.379 | 0.033 | 0.176 | 0.268 | 0.286 | 0.282 | 0.254 | 0.209 | 0.18 | 0.084 | 0.117 | 0.026 | 0.172 | 0.191 | 0.203 | 0.212 | 0.186 | 0.141 | 0.11 | 0.099 | 0 | 0 | 0 |
Total Other Income Expenses Net
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Income Before Tax
| 83.046 | 73.676 | 77.788 | 77.313 | 69.481 | 57.76 | 49.133 | 38.438 | 32.901 | 29.38 | 25.216 | 22.658 | 26.198 | -20.412 | -18.299 | -93.437 | -88.601 | 8.852 | 45.487 | 63.171 | 55.025 | 51.319 | 40.863 | 33.721 | 27.275 | 12 | 17 | 3.4 | 11.2 | 9.5 | 8.3 | 7.5 | 6.7 | 5.4 | 4 | 3.4 | 0 | 0 | 0 |
Income Before Tax Ratio
| 0.263 | 0.26 | 0.347 | 0.373 | 0.324 | 0.303 | 0.288 | 0.278 | 0.265 | 0.257 | 0.226 | 0.187 | 0.186 | -0.148 | -0.107 | -0.375 | -0.379 | 0.033 | 0.176 | 0.268 | 0.286 | 0.282 | 0.254 | 0.209 | 0.18 | 0.084 | 0.117 | 0.026 | 0.172 | 0.191 | 0.203 | 0.212 | 0.186 | 0.141 | 0.11 | 0.099 | 0 | 0 | 0 |
Income Tax Expense
| 16.256 | 14.609 | 14.437 | 14.418 | 13.329 | 11.325 | 9.294 | 17.963 | 10.135 | 9.363 | 7.195 | -54.851 | 0 | -0.212 | -1.59 | -3.21 | 3.063 | -1.103 | 11.662 | 17.466 | 14.713 | 13.727 | 11.396 | 9.288 | 7.266 | 3.3 | 5.1 | 1.9 | 3.3 | 2.7 | 2.3 | 2.1 | 1.9 | 1.5 | 1.1 | 0.7 | -1.8 | -1.5 | -1.4 |
Net Income
| 66.79 | 59.067 | 63.351 | 62.895 | 56.152 | 46.435 | 39.839 | 20.475 | 22.766 | 20.017 | 18.021 | 77.509 | 26.198 | -20.2 | -16.709 | -90.227 | -91.664 | 10.357 | 33.203 | 45.705 | 40.312 | 37.592 | 29.467 | 24.398 | 20.009 | 8.7 | 11.9 | 1.5 | 7.9 | 6.8 | 6 | 5.4 | 4.8 | 3.8 | 2.9 | 2.7 | 1.8 | 1.5 | 1.4 |
Net Income Ratio
| 0.211 | 0.208 | 0.283 | 0.304 | 0.262 | 0.243 | 0.233 | 0.148 | 0.183 | 0.175 | 0.161 | 0.641 | 0.186 | -0.146 | -0.098 | -0.363 | -0.392 | 0.038 | 0.128 | 0.194 | 0.209 | 0.207 | 0.183 | 0.151 | 0.132 | 0.061 | 0.082 | 0.011 | 0.121 | 0.137 | 0.147 | 0.153 | 0.133 | 0.099 | 0.08 | 0.079 | 0 | 0 | 0 |
EPS
| 3.2 | 2.82 | 3 | 2.91 | 2.56 | 2.03 | 1.7 | 0.96 | 1.06 | 0.88 | 0.79 | 5.87 | 2.51 | -2.94 | -4.09 | -39.6 | -40 | 4.6 | 14.5 | 19.14 | 16.24 | 15.78 | 8.85 | 6.75 | 8.08 | 3.47 | 4.79 | 0.17 | 4.96 | 4.34 | 0.63 | 0.58 | 0.55 | 0.49 | 0.4 | 0.35 | 1.6 | 1.88 | 1.77 |
EPS Diluted
| 3.16 | 2.79 | 2.97 | 2.88 | 2.53 | 2 | 1.68 | 0.95 | 1.05 | 0.86 | 0.77 | 3.55 | 0.8 | -2.94 | -4.09 | -39.6 | -40 | 4.5 | 14.3 | 18.76 | 15.96 | 15.42 | 8.69 | 6.65 | 8.03 | 3.42 | 4.75 | 0.17 | 4.96 | 4.34 | 0.63 | 0.58 | 0.55 | 0.43 | 0.33 | 0.29 | 1.6 | 1.88 | 1.77 |
EBITDA
| 93.051 | 83.695 | 88.615 | 89.443 | 78.642 | 63.819 | 55.166 | 45.395 | 38.117 | 33.933 | 28.23 | 20.461 | 21.48 | -31.713 | -46.019 | -136.774 | -111.379 | -3.703 | 35.648 | 50.673 | 52.024 | 59.089 | 47.374 | 40.28 | 33.815 | 18.1 | 21.9 | 8.7 | 14 | 11.7 | 8.8 | 9.1 | 7.7 | 5.8 | 4.4 | 4.1 | 1.8 | 1.5 | 1.4 |
EBITDA Ratio
| 0.294 | 0.295 | 0.395 | 0.432 | 0.367 | 0.335 | 0.323 | 0.329 | 0.307 | 0.297 | 0.253 | 0.169 | 0.153 | -0.229 | -0.27 | -0.55 | -0.477 | -0.014 | 0.138 | 0.215 | 0.27 | 0.325 | 0.295 | 0.25 | 0.223 | 0.127 | 0.151 | 0.066 | 0.215 | 0.235 | 0.215 | 0.258 | 0.214 | 0.152 | 0.121 | 0.12 | 0 | 0 | 0 |