Independent Bank Corporation
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $68.5M | $66.8M | $59.1M | $63.4M | $62.9M | $56.2M | $46.4M | $39.8M |
| Depreciation & Amortization | $9.9M | $10.0M | $10.0M | $10.8M | $12.1M | $9.2M | $6.1M | $6.0M |
| Depreciation | $5.0M | $5.2M | $5.2M | $5.3M | $5.4M | $5.3M | $5.2M | $5.1M |
| Amortization | $500.0K | $500.0K | $500.0K | $800.0K | $1.0M | $1.0M | $1.1M | $1.0M |
| Stock-Based Compensation | $2.7M | $2.3M | $2.2M | $2.1M | $1.9M | $2.0M | $1.9M | $1.7M |
| Net Cash from Operating Activities | $76.7M | $63.2M | $75.6M | $94.6M | $110.2M | $58.7M | $34.5M | $44.9M |
| Investing Activities | ||||||||
| Capital Expenditures | $6.5M | $8.0M | $6.0M | $5.7M | $5.8M | $4.4M | $4.9M | $3.9M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-122.5M | $-118.2M | $-162.9M | $-424.6M | $-563.1M | $-553.9M | $-182.2M | $-183.4M |
| Financing Activities | ||||||||
| Dividends Paid | $21.6M | $20.0M | $19.3M | $18.6M | $18.2M | $17.6M | $16.6M | $14.1M |
| Stock Repurchases | $12.4M | $0 | $5.2M | $4.0M | $17.3M | $14.2M | $26.3M | $12.7M |
| Net Cash from Financing Activities | $64.3M | $5.1M | $182.8M | $294.9M | $443.7M | $548.6M | $142.7M | $154.0M |
| Net Change in Cash | — | — | — | — | — | — | — | $15.5M |
| Free Cash Flow | $70.2M | $55.2M | $69.6M | $89.0M | $104.3M | $54.3M | $29.6M | $41.1M |