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
Total Revenue $79.6m $89.2m $27.1m $26.0m $24.0m $29.1m $31.6m $32.9m $32.0m $32.1m
Interest income:
Noninterest income:
Additional Financial Items
Other Interest and Dividend Income $1.2m $1.1m $1.3m $1.9m $1.1m $846k $884k $5.4m $6.2m $5.0m
Bank Owned Life Insurance Income $1.1m $1.1m $970k $1.1m $910k $567k $360k $474k $834k $1.2m
Amortization of Intangible Assets $300k $300k $1.0m $1.1m $1.0m $1.0m $800k $500k $500k $500k
Equity Securities, FV-NI, Realized Gain (Loss) $2.7m $0
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $77.3m $77.8m $73.7m $83.0m $81.3m
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
Earnings Per Share, Basic $1.06 $0.96 $1.70 $2.03 $2.56 $2.91 $3.00 $2.82 $3.20 $3.30
Earnings Per Share, Diluted $1.05 $0.95 $1.68 $2.00 $2.53 $2.88 $2.97 $2.79 $3.16 $3.27
Common Stock, Dividends, Per Share, Declared $0.34 $0.42 $0.60 $0.72 $0.80 $0.84 $0.88 $0.92 $0.96 $1.04
Weighted Average Number of Shares Outstanding, Basic 21.4m 21.3m 23.4m 22.9m 22.0m 21.6m 21.1m 21.0m 20.9m 20.8m
Noninterest expense:
Labor and Related Expense $49.6m $55.1m $62.1m $67.5m $74.8m $80.0m $81.0m $79.0m $85.0m $85.2m
Equipment Expense $3.9m $3.9m $4.1m $4.1m $4.1m $4.2m $4.0m $3.8m $3.8m $3.5m
Business Combination, Acquisition Related Costs $284k $3.5m $0 $0
Current Income Tax Expense (Benefit) $362k $1.9m $0 $10.2m $15.5m $12.5m $14.8m $14.4m $17.5m $16.3m
Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal $5.2m $3.2m $5.6m $5.7m
Interest Expense $6.9m $9.1m $17.5m $26.3m $16.2m $8.3m $19.4m $83.3m
Income Tax Expense (Benefit) $10.1m $18.0m $9.3m $11.3m $13.3m $14.4m $14.4m $14.6m $16.3m $12.8m
Total interest expense $100.5m $89.7m
Interest Income (Expense), Net $79.6m $89.2m $113.3m $122.6m $123.6m $129.8m $149.6m $156.3m $166.2m $180.0m