Independent Bank (IBCP) financial statements
Independent Bank reported revenue of $32M in fiscal 2025, down 13.8% a year over 9 years.
Net income was $69M.
Free cash flow was $70M, and the company returned $22M in dividends and $12M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Independent Bank's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $122M | $132M | $27M | $26M | $24M | $29M | $32M | $33M | $32M | $32M |
| Interest expense | $7M | $9M | $17M | $26M | $16M | $8M | $19M | $83M | — | — |
| Pre-tax income | $33M | $38M | $49M | $58M | $69M | $77M | $78M | $74M | $83M | $81M |
| Income tax | $10M | $18M | $9M | $11M | $13M | $14M | $14M | $15M | $16M | $13M |
| Net income | $23M | $20M | $40M | $46M | $56M | $63M | $63M | $59M | $67M | $69M |
| EPS (diluted) | $1.05 | $0.95 | $1.68 | $2.00 | $2.53 | $2.88 | $2.97 | $2.79 | $3.16 | $3.27 |
| Diluted shares | 21M | 21M | 23M | 23M | 22M | 22M | 21M | 21M | 21M | 21M |
| Net margin | 18.7% | 15.5% | 146.9% | 178.9% | 233.7% | 216.1% | 200.2% | 179.5% | 208.9% | 213.7% |
Balance sheet
Fiscal years, from Independent Bank's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $83M | $55M | $70M | $65M | $119M | $109M | $74M | $170M | $120M | $138M |
| Property, plant and equipment | $40M | $39M | $39M | $38M | $36M | $36M | $36M | $36M | $37M | $39M |
| Goodwill | — | $0 | $28M | $28M | $28M | $28M | $28M | $28M | $28M | $28M |
| Total assets | $2.5B | $2.8B | $3.4B | $3.6B | $4.2B | $4.7B | $5.0B | $5.3B | $5.3B | $5.5B |
| Total liabilities | $2.3B | $2.5B | $3.0B | $3.2B | $3.8B | $4.3B | $4.7B | $4.9B | $4.9B | $5.0B |
| Shareholders' equity | $249M | $265M | $339M | $350M | $390M | $398M | $348M | $404M | $455M | $503M |
| Net debt | -$83M | -$55M | -$70M | -$65M | -$119M | -$109M | -$74M | -$170M | -$120M | -$138M |
Cash flow
Fiscal years, from Independent Bank's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $24M | $39M | $45M | $34M | $59M | $110M | $95M | $76M | $63M | $77M |
| Capital spending | $3M | $4M | $4M | $5M | $4M | $6M | $6M | $6M | $8M | $6M |
| Free cash flow | $20M | $34M | $41M | $30M | $54M | $104M | $89M | $70M | $55M | $70M |
| Stock-based compensation | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $3M |
| Dividends paid | $7M | $9M | $14M | $17M | $18M | $18M | $19M | $19M | $20M | $22M |
| Share buybacks (net) | -$17M | $0 | -$13M | -$26M | -$14M | -$17M | -$4M | -$5M | $0 | -$12M |
| Free cash flow margin | 16.6% | 26.1% | 151.4% | 113.9% | 226.0% | 358.5% | 281.1% | 211.4% | 172.6% | 218.8% |
| Dividends per share | $0.34 | $0.42 | $0.60 | $0.72 | $0.80 | $0.84 | $0.88 | $0.92 | $0.96 | $1.04 |
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Open IBCP in InvestinglyQuestions
What was Independent Bank's revenue in 2025?
$32M in fiscal 2025, from its 10-K filing.
How much free cash flow does Independent Bank generate?
$70M in fiscal 2025 (operating cash flow minus capital spending).
From Independent Bank's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.