INDEPENDENT BANK CORPORATION
Income Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $131.7M | $121.9M | $115.1M | $112.0M | $122.8M | $149.8M | $141.5M | $183.5M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $47.6M | $39.8M | $35.2M | $32.5M | $31.8M | $39.3M | $-219.0K | $18.9M |
| Operating Margin | 36.1% | 32.6% | 30.6% | 29.0% | 25.9% | 26.3% | -0.2% | 10.3% |
| Interest Expense | $9.1M | $6.9M | $5.9M | $7.3M | $9.2M | $13.1M | $20.2M | $37.2M |
| Pretax Income | $38.4M | $32.9M | $29.4M | $25.2M | $22.7M | $26.2M | $-20.4M | $-18.3M |
| Income Tax Expense | $18.0M | $10.1M | $9.4M | $7.2M | $-54.9M | $0 | $-212.0K | $-1.6M |
| Net Income | $20.5M | $22.8M | $20.0M | $18.0M | $77.5M | $26.2M | $-20.2M | $-16.7M |
| Net Margin | 15.5% | 18.7% | 17.4% | 16.1% | 63.1% | 17.5% | -14.3% | -9.1% |
| EPS (Basic) | $0.96 | $1.06 | $0.88 | $0.79 | $5.87 | $2.51 | $0.00 | $0.00 |
| EPS (Diluted) | $0.95 | $1.05 | $0.86 | $0.77 | $3.55 | $0.80 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | 21.3M | 21.4M | 22.7M | 22.9M | 14.0M | 8.7M | 8.7M | 5.4M |
| Shares Outstanding (Diluted) | 21.3M | 21.4M | 22.7M | 22.9M | 14.0M | 8.7M | 8.7M | 5.4M |
| Dividends Per Share | $0.42 | $0.34 | $0.26 | $0.18 | $0.00 | $0.00 | $0.00 | $0.00 |