← INDEPENDENT BANK CORP /MI/

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $22.8m $20.5m $39.8m $46.4m $56.2m $62.9m $63.4m $59.1m $66.8m $68.5m
Net Income (Loss) Available to Common Stockholders, Basic $22.8m $20.5m — — — — — — — —
Depreciation, Amortization and Accretion, Net $5.2m $7.0m $6.0m $6.1m $9.2m $12.1m $10.8m $10.0m $10.0m $9.9m
Amortization — — — — — — — — $516k $487k
Amortization of Intangible Assets $300k $300k $1.0m $1.1m $1.0m $1.0m $800k $500k $500k $500k
Depreciation $5.8m $5.3m $5.1m $5.2m $5.3m $5.4m $5.3m $5.2m $5.2m $5.0m
Deferred Income Tax Expense (Benefit) $9.8m $10.1m $9.3m $1.1m ($2.1m) $1.9m ($359k) $215k ($1.2m) ($3.5m)
Share-based Payment Arrangement, Noncash Expense $1.6m $1.7m $1.7m $1.9m $2.0m $1.9m $2.1m $2.2m $2.3m $2.7m
Payment, Tax Withholding, Share-based Payment Arrangement $627k $579k $1.5m $882k $755k $691k $620k $650k $1.1m $1.2m
Marketable Securities, Gain (Loss), Excluding Other-than-temporary Impairment Loss $563k $260k $138k $307k $267k $1.4m ($275k) ($222k) ($428k) ($370k)
Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal — — — — — — $5.2m $3.2m $5.6m $5.7m
Gain (Loss) on Extinguishment of Debt $0 — — — — — — — — —
Income Tax Expense (Benefit) $10.1m $18.0m $9.3m $11.3m $13.3m $14.4m $14.4m $14.6m $16.3m $12.8m
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Other Operating Assets $5.5m $3.7m $4.9m $6.6m $8.5m $11.7m $25.8m $14.6m $25.2m $25.6m
Bank Owned Life Insurance Income $1.1m $1.1m $970k $1.1m $910k $567k $360k $474k $834k $1.2m
Gain (Loss) on Sales of Loans, Net — — — $20.0m $62.6m $35.9m $6.4m $7.4m $6.6m $6.8m
Proceeds from Stock Options Exercised — $142k $1.4m — — — — — — —
Equipment Expense $3.9m $3.9m $4.1m $4.1m $4.1m $4.2m $4.0m $3.8m $3.8m $3.5m
Equity Securities, FV-NI, Realized Gain (Loss) — — — — — — — — $2.7m $0
Equity Securities, FV-NI, Unrealized Gain (Loss) — — ($62k) $167k — — — — — —
Goodwill — — $28.3m $28.3m $28.3m $28.3m $28.3m $28.3m $28.3m $28.3m
Financing Receivable, Credit Loss, Expense (Reversal) — — — — — ($1.9m) $5.3m $6.2m $4.5m $6.1m
Net Cash Provided by (Used in) Operating Activities $24.0m $38.6m $44.9m $34.0m $58.2m $110.2m $94.6m $75.6m $63.2m $76.7m
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $3.5m $4.2m $3.9m $4.9m $4.4m $5.8m $5.7m $6.0m $8.0m $6.5m
Net Cash Provided by (Used in) Investing Activities ($138.9m) ($277.6m) ($183.4m) ($181.6m) ($553.4m) ($563.1m) ($424.6m) ($162.9m) ($118.2m) ($122.5m)
Cash flows from financing activities:
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale $203.0m $173.7m $160.6m $153.9m $306.7m $375.7m $167.6m $122.8m $81.1m $69.6m
Proceeds from Issuance of Common Stock $82k $72k $267k $284k $15k $61k $77k $70k $13k $0
Payments for Repurchase of Common Stock $16.9m $0 $12.7m $26.3m $14.2m $17.3m $4.0m $5.2m $0 $12.4m
Dividends paid $7.3m $9.0m $14.1m $16.6m $17.6m $18.2m $18.6m $19.3m $20.0m $21.6m
Payments of Dividends $7.3m $9.0m $14.1m $16.6m $17.6m $18.2m $18.6m $19.3m $20.0m $21.6m
Other Interest and Dividend Income $1.2m $1.1m $1.3m $1.9m $1.1m $846k $884k $5.4m $6.2m $5.0m
Net Cash Provided by (Used in) Financing Activities $112.3m $210.5m $154.0m $142.7m $548.6m $443.7m $294.9m $182.8m $5.1m $64.3m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — $65.3m $118.7m $109.5m $74.4m $169.8m $119.9m $138.4m
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities — — — — $16.9m $8.4m $17.7m $79.1m $104.0m $90.9m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.