Income Statement - INDEPENDENT BANK CORP /MI/ (IBCP)
$(Billion, Million)| Dec-25 | Dec-24 | Dec-23 | Dec-22 | Dec-21 | Dec-20 | Dec-19 | Dec-18 | Dec-17 | Dec-16 | Dec-15 | Dec-14 | Dec-13 | Dec-12 | Dec-11 | Dec-10 | Dec-09 | Dec-08 | Dec-07 | Dec-06 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 315.38 | 316.33 | 283.83 | 224.23 | 207.12 | 214.20 | 190.76 | 170.88 | 138.06 | 124.16 | 114.43 | 111.70 | 120.92 | 140.85 | 138.24 | 170.51 | 248.86 | 233.62 | 270.40 | 258.95 |
| Cost of revenue | 95.86 | 104.65 | 90.00 | 25.44 | 7.59 | 28.94 | 27.42 | 18.99 | 10.32 | 5.57 | 3.14 | 3.70 | 7.24 | 20.45 | 50.10 | 83.64 | 153.85 | 144.91 | 145.82 | 110.04 |
| Gross profit | 219.52 | 211.68 | 193.83 | 198.79 | 199.52 | 185.25 | 163.35 | 151.88 | 127.74 | 118.58 | 111.29 | 108.00 | 113.68 | 120.40 | 88.14 | 86.87 | 95.01 | 88.72 | 124.58 | 148.90 |
| Total operating expenses | 138.23 | 128.63 | 120.15 | 121.00 | 122.21 | 115.77 | 105.59 | 102.75 | 89.30 | 85.68 | 81.91 | 82.79 | 91.03 | 94.20 | 108.55 | 105.17 | 188.44 | 177.32 | 115.72 | 103.42 |
| Operating income | 81.29 | 83.05 | 73.68 | 77.79 | 77.31 | 69.48 | 57.76 | 49.13 | 38.44 | 32.90 | 29.38 | 25.22 | 22.66 | 26.20 | -20.41 | -18.30 | -93.44 | -88.60 | 8.85 | 45.49 |
| Non-operating income (net) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income before tax | 81.29 | 83.05 | 73.68 | 77.79 | 77.31 | 69.48 | 57.76 | 49.13 | 38.44 | 32.90 | 29.38 | 25.22 | 22.66 | 26.20 | -20.41 | -18.30 | -93.44 | -88.60 | 8.85 | 45.49 |
| Income tax expense | 12.75 | 16.26 | 14.61 | 14.44 | 14.42 | 13.33 | 11.33 | 9.29 | 17.96 | 10.14 | 9.36 | 7.20 | -54.85 | 0.00 | -0.21 | -1.59 | -3.21 | 3.06 | -1.10 | 11.66 |
| Net income | 68.54 | 66.79 | 59.07 | 63.35 | 62.90 | 56.15 | 46.44 | 39.84 | 20.48 | 22.77 | 20.02 | 18.02 | 77.51 | 26.20 | -20.20 | -16.71 | -90.23 | -91.66 | 10.36 | 33.20 |
Show Quarterly Income Statement
Income Statement - INDEPENDENT BANK CORP /MI/ (IBCP)
$(Billion, Million)| Mar-26 | Dec-25 | Sep-25 | Jun-25 | Mar-25 | Dec-24 | Sep-24 | Jun-24 | Mar-24 | Dec-23 | Sep-23 | Jun-23 | Mar-23 | Dec-22 | Sep-22 | Jun-22 | Mar-22 | Dec-21 | Sep-21 | Jun-21 | Mar-21 | Dec-20 | Sep-20 | Jun-20 | Mar-20 | Dec-19 | Sep-19 | Jun-19 | Mar-19 | Dec-18 | Sep-18 | Jun-18 | Mar-18 | Dec-17 | Sep-17 | Jun-17 | Mar-17 | Dec-16 | Sep-16 | Jun-16 | Mar-16 | Dec-15 | Sep-15 | Jun-15 | Mar-15 | Dec-14 | Sep-14 | Jun-14 | Mar-14 | Dec-13 | Sep-13 | Jun-13 | Mar-13 | Dec-12 | Sep-12 | Jun-12 | Mar-12 | Dec-11 | Sep-11 | Jun-11 | Mar-11 | Dec-10 | Sep-10 | Jun-10 | Mar-10 | Dec-09 | Sep-09 | Jun-09 | Mar-09 | Dec-08 | Sep-08 | Jun-08 | Mar-08 | Dec-07 | Sep-07 | Jun-07 | Mar-07 | Dec-06 | Sep-06 | Jun-06 | Mar-06 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 74.62 | 79.38 | 79.39 | 76.33 | 74.73 | 84.53 | 76.04 | 79.75 | 76.15 | 72.89 | 76.40 | 71.57 | 62.84 | 60.73 | 60.09 | 51.09 | 52.12 | 50.09 | 53.61 | 46.21 | 57.38 | 56.84 | 60.45 | 52.44 | 44.59 | 51.00 | 48.18 | 46.17 | 45.27 | 44.12 | 45.04 | 44.07 | 37.24 | 37.03 | 34.90 | 32.88 | 32.83 | 34.15 | 32.41 | 29.81 | 27.89 | 29.80 | 27.92 | 29.80 | 26.91 | 27.14 | 28.91 | 28.46 | 27.20 | 30.22 | 29.20 | 32.10 | 29.40 | 23.00 | 35.25 | 34.19 | 35.35 | 39.22 | 37.44 | 41.58 | 43.43 | 51.91 | 48.19 | 50.15 | 53.74 | 58.81 | 60.69 | 69.16 | 59.16 | 49.34 | 56.07 | 65.52 | 62.53 | 66.95 | 68.50 | 68.94 | 66.01 | 54.00 | 65.56 | 65.13 | 64.52 |
| Cost of revenue | 19.68 | 22.99 | 25.92 | 23.37 | 23.37 | 26.68 | 28.08 | 24.87 | 25.02 | 24.98 | 24.81 | 23.02 | 17.19 | 11.69 | 8.56 | 5.33 | -0.19 | 3.78 | 1.76 | 0.71 | 1.71 | 3.89 | 4.04 | 8.56 | 12.15 | 5.98 | 6.70 | 7.50 | 7.06 | 6.34 | 4.70 | 4.77 | 3.18 | 3.10 | 3.04 | 2.62 | 1.55 | 2.03 | 1.57 | 0.90 | 1.06 | -0.10 | 1.20 | 1.35 | 0.75 | 0.71 | 1.27 | -0.01 | 1.76 | 1.02 | 3.23 | 0.64 | 2.35 | 3.71 | 3.19 | 4.60 | 9.11 | 10.69 | 10.58 | 9.90 | 16.97 | 14.89 | 18.25 | 22.60 | 28.23 | 37.16 | 35.07 | 38.28 | 43.26 | 44.93 | 36.46 | 30.52 | 33.97 | 35.10 | 36.29 | 40.58 | 33.85 | 26.45 | 29.32 | 25.19 | 21.64 |
| Gross profit | 54.94 | 56.39 | 53.48 | 52.96 | 51.36 | 57.86 | 47.96 | 54.88 | 51.13 | 47.91 | 51.60 | 48.55 | 45.65 | 49.04 | 51.53 | 45.76 | 52.31 | 46.32 | 51.85 | 45.50 | 55.67 | 52.95 | 56.40 | 43.89 | 32.45 | 45.03 | 41.47 | 38.67 | 38.22 | 37.78 | 40.34 | 39.29 | 34.06 | 33.92 | 31.86 | 30.26 | 31.28 | 32.12 | 30.83 | 28.91 | 26.82 | 29.90 | 26.72 | 28.45 | 26.16 | 26.43 | 27.65 | 28.46 | 25.43 | 29.20 | 25.97 | 31.47 | 27.05 | 19.29 | 32.06 | 29.59 | 26.23 | 28.54 | 26.86 | 31.68 | 26.46 | 37.02 | 29.94 | 27.55 | 25.52 | 21.65 | 25.62 | 30.87 | 15.90 | 4.41 | 19.61 | 35.01 | 28.56 | 31.85 | 32.21 | 28.36 | 32.16 | 27.55 | 36.24 | 39.94 | 42.89 |
| Total operating expenses | 34.71 | 36.08 | 32.30 | 32.29 | 32.24 | 35.09 | 30.66 | 31.71 | 31.31 | 29.96 | 29.95 | 30.35 | 29.78 | 30.45 | 30.29 | 29.88 | 30.24 | 30.85 | 32.21 | 30.45 | 28.53 | 31.88 | 32.04 | 25.59 | 26.69 | 27.80 | 25.90 | 25.25 | 26.67 | 25.57 | 25.49 | 28.41 | 22.86 | 22.69 | 21.84 | 21.66 | 22.68 | 23.68 | 21.48 | 19.86 | 20.77 | 21.65 | 19.40 | 20.21 | 20.60 | 20.99 | 20.37 | 20.56 | 20.83 | 23.07 | 22.18 | 24.57 | 21.21 | 7.37 | 25.62 | 25.26 | 22.73 | 36.71 | 31.46 | 31.91 | 33.87 | 41.67 | 37.53 | 19.51 | 39.62 | 71.26 | 45.02 | 36.99 | 34.21 | 84.09 | 30.66 | 31.19 | 30.25 | 29.59 | 28.37 | 29.80 | 27.97 | 26.06 | 23.35 | 25.54 | 26.24 |
| Operating income | 20.23 | 20.31 | 21.18 | 20.68 | 19.13 | 22.77 | 17.29 | 23.17 | 19.82 | 17.95 | 21.65 | 18.20 | 15.88 | 18.59 | 21.25 | 15.88 | 22.07 | 15.47 | 19.65 | 15.05 | 27.14 | 21.07 | 24.36 | 18.30 | 5.76 | 17.23 | 15.57 | 13.42 | 11.55 | 12.20 | 14.85 | 10.88 | 11.20 | 11.23 | 10.02 | 8.59 | 8.60 | 8.44 | 9.35 | 9.05 | 6.06 | 8.25 | 7.33 | 8.24 | 5.56 | 5.44 | 7.27 | 7.90 | 4.61 | 6.13 | 3.79 | 6.90 | 5.84 | 11.92 | 6.45 | 4.33 | 3.50 | -8.18 | -4.60 | -0.22 | -7.41 | -4.65 | -7.59 | 8.04 | -14.10 | -49.61 | -19.40 | -6.12 | -18.30 | -79.68 | -11.05 | 3.82 | -1.69 | 2.26 | 3.84 | -1.45 | 4.20 | 1.49 | 12.89 | 14.40 | 16.65 |
| Non-operating income (net) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income before tax | 20.23 | 20.31 | 21.18 | 20.68 | 19.13 | 22.77 | 17.29 | 23.17 | 19.82 | 17.95 | 21.65 | 18.20 | 15.88 | 18.59 | 21.25 | 15.88 | 22.07 | 15.47 | 19.65 | 15.05 | 27.14 | 21.07 | 24.36 | 18.30 | 5.76 | 17.23 | 15.57 | 13.42 | 11.55 | 12.20 | 14.85 | 10.88 | 11.20 | 11.23 | 10.02 | 8.59 | 8.60 | 8.44 | 9.35 | 9.05 | 6.06 | 8.25 | 7.33 | 8.24 | 5.56 | 5.44 | 7.27 | 7.90 | 4.61 | 6.13 | 3.79 | 6.90 | 5.84 | 11.92 | 6.45 | 4.33 | 3.50 | -8.18 | -4.60 | -0.22 | -7.41 | -4.65 | -7.59 | 8.04 | -14.10 | -49.61 | -19.40 | -6.12 | -18.30 | -79.68 | -11.05 | 3.82 | -1.69 | 2.26 | 3.84 | -1.45 | 4.20 | 1.49 | 12.89 | 14.40 | 16.65 |
| Income tax expense | 3.36 | 1.74 | 3.67 | 3.80 | 3.54 | 4.31 | 3.48 | 4.64 | 3.83 | 4.20 | 4.11 | 3.41 | 2.88 | 3.50 | 3.95 | 2.88 | 4.11 | 2.96 | 3.68 | 2.67 | 5.11 | 4.08 | 4.78 | 3.52 | 0.95 | 3.35 | 3.13 | 2.69 | 2.17 | 2.27 | 2.92 | 2.07 | 2.04 | 9.52 | 3.16 | 2.66 | 2.62 | 2.59 | 2.98 | 2.61 | 1.96 | 2.68 | 2.28 | 2.62 | 1.78 | 1.54 | 2.35 | 1.85 | 1.47 | 1.32 | 0.28 | -56.49 | 0.04 | 1.11 | 1.09 | 0.00 | 0.54 | 0.54 | -0.48 | -0.26 | -0.01 | -0.50 | -0.98 | 0.16 | -0.26 | -1.46 | -1.09 | -0.96 | 0.29 | 10.35 | -5.72 | 0.47 | -2.03 | -0.02 | 0.16 | -1.55 | 0.31 | 0.56 | 3.51 | 3.98 | 3.59 |
| Net income | 16.88 | 18.57 | 17.50 | 16.88 | 15.59 | 18.46 | 13.81 | 18.53 | 15.99 | 13.74 | 17.54 | 14.79 | 12.99 | 15.09 | 17.30 | 13.00 | 17.97 | 12.51 | 15.96 | 12.39 | 22.04 | 16.99 | 19.58 | 14.77 | 4.81 | 13.88 | 12.45 | 10.73 | 9.38 | 9.94 | 11.93 | 8.82 | 9.16 | 1.71 | 6.86 | 5.93 | 5.97 | 5.86 | 6.37 | 6.44 | 4.10 | 5.57 | 5.05 | 5.62 | 3.78 | 3.90 | 4.93 | 6.05 | 3.14 | 4.81 | 3.51 | 63.39 | 5.81 | 11.92 | 6.45 | 4.33 | 3.50 | -8.71 | -4.12 | 0.04 | -7.40 | -4.15 | -6.61 | 7.88 | -13.84 | -48.16 | -18.31 | -5.16 | -18.60 | -90.03 | -5.33 | 3.35 | 0.34 | 2.43 | 3.73 | -0.04 | 4.24 | 0.31 | 9.95 | 10.60 | 13.06 |