INDEPENDENT BANK CORPORATION
Profit Margins
| Fiscal Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| FY2015 | — | 26.1% | 14.8% |
| FY2016 | — | 27.3% | 15.6% |
| FY2017 | — | 29.4% | 12.7% |
| FY2018 | — | 35.6% | 21.3% |
| FY2019 | — | 40.1% | 22.1% |
| FY2020 | — | 33.9% | 22.2% |
| FY2021 | — | 37.0% | 27.2% |
| FY2022 | — | 44.2% | 28.8% |
| FY2023 | — | 47.0% | 17.7% |
| FY2024 | — | 259.7% | 208.9% |