Revenue
$32.08M
Fiscal year ended 2025-12-31Net income
$68.54M
Fiscal year ended 2025-12-31Total assets
$5.51B
Fiscal year ended 2025-12-31INDEPENDENT BANK CORP /MI/ (IBCP) reported revenue of $32.08M and net income of $68.54M for the fiscal year ended 2025-12-31. This page shows 8 annual periods of income statement, balance sheet and cash flow figures normalized from INDEPENDENT BANK CORP /MI/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under State Commercial Banks.
Banks, brokers and insurers present a top line that is not comparable with an operating company’s revenue: it is reported net of interest expense, or as premiums earned, depending on the filer. The figures are the filer’s own and are traceable to the filing; the comparison across classes is what does not hold.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $32.08M | $31.98M | $32.90M | $31.64M | $29.10M | $24.03M | $25.95M | $27.13M |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $68.54M | $66.79M | $59.07M | $63.35M | $62.90M | $56.15M | $46.44M | $39.84M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Pretax income | $81.29M | $83.05M | $73.68M | $77.79M | $77.31M | $69.48M | $57.76M | $49.13M |
| Income tax expense | $12.75M | $16.26M | $14.61M | $14.44M | $14.42M | $13.33M | $11.32M | $9.29M |
| Diluted EPS | $3.27 | $3.16 | $2.79 | $2.97 | $2.88 | $2.53 | $2.00 | $1.68 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $138.39M | $119.88M | $169.78M | $74.37M | $109.47M | $118.70M | $65.30M | $70.24M |
| Total assets | $5.51B | $5.34B | $5.26B | $5.00B | $4.70B | $4.20B | $3.56B | $3.35B |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $5.00B | $4.88B | $4.86B | $4.65B | $4.31B | $3.81B | $3.21B | $3.01B |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $502.95M | $454.69M | $404.45M | $347.60M | $398.48M | $389.52M | $350.17M | $338.99M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | $28.30M | $28.30M | $28.30M | $28.30M | $28.30M | $28.30M | $28.30M | $28.30M |
| Long-term debt | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $76.66M | $63.15M | $75.59M | $94.63M | $110.15M | $58.68M | $34.49M | $44.92M |
| Capital expenditures | $6.49M | $7.95M | $6.02M | $5.68M | $5.84M | $4.38M | $4.94M | $3.86M |
| Investing cash flow | -$122.50M | -$118.16M | -$162.94M | -$424.59M | -$563.06M | -$553.91M | -$182.15M | -$183.37M |
| Financing cash flow | $64.34M | $5.11M | $182.77M | $294.86M | $443.68M | $548.62M | $142.72M | $153.95M |
| Net change in cash | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $15.51M |
| Stock-based compensation | $2.72M | $2.33M | $2.23M | $2.14M | $1.95M | $1.98M | $1.85M | $1.73M |
| Common dividends paid | $21.60M | $20.04M | $19.33M | $18.56M | $18.16M | $17.62M | $16.55M | $14.06M |
| Common share repurchases | $12.43M | $0 | $5.16M | $4.01M | $17.27M | $14.23M | $26.28M | $12.68M |
| Depreciation & amortization | $9.91M | $10.00M | $10.02M | $10.83M | $12.13M | $9.16M | $6.06M | $6.03M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Free cash flow | $70.17M | $55.20M | $69.56M | $88.95M | $104.32M | $54.30M | $29.56M | $41.06M |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | 218.8% | 172.6% | 211.4% | 281.1% | 358.5% | 226.0% | 113.9% | 151.4% |
| SBC / revenue | 8.5% | 7.3% | 6.8% | 6.8% | 6.7% | 8.2% | 7.1% | 6.4% |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | 0.3% | -2.8% | 4.0% | 8.7% | 21.1% | -7.4% | -4.3% | Unavailable |
| Net margin | 213.7% | 208.9% | 179.5% | 200.2% | 216.1% | 233.7% | 178.9% | 146.9% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 20.2% | 24.9% | 18.3% | 17.9% | 20.1% | 18.2% | 19.0% | 14.2% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 15.7% | 19.6% | 19.8% | 18.6% | 18.6% | 19.2% | 19.6% | 18.9% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open IBCP in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-05View SEC filing
10-Q · Filed 2026-05-06View SEC filing
10-K · Filed 2026-03-06View SEC filing
10-Q · Filed 2025-11-05View SEC filing
10-Q · Filed 2025-08-06View SEC filing
10-Q · Filed 2025-05-07View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.