Independent Bank Corp.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $205.1M | $192.1M | $239.5M | $263.8M | $121.0M | $121.2M | $165.2M | $121.6M |
| Depreciation & Amortization | $42.1M | $40.9M | $36.1M | $38.8M | $32.8M | $27.3M | $19.4M | $15.6M |
| Depreciation | $22.5M | $19.9M | $18.9M | $18.4M | $12.5M | $12.8M | $11.4M | $9.1M |
| Amortization | — | — | — | — | — | — | $6.8M | $2.7M |
| Stock-Based Compensation | $9.0M | $6.5M | $6.4M | $4.5M | $4.3M | $4.1M | $4.4M | $4.2M |
| Net Cash from Operating Activities | $251.2M | $229.9M | $277.0M | $421.2M | $190.2M | $64.6M | $216.5M | $141.8M |
| Investing Activities | ||||||||
| Capital Expenditures | $12.1M | $20.4M | $15.8M | $22.1M | $25.2M | $12.6M | $16.6M | $11.1M |
| Business Acquisitions | — | — | — | — | — | $0 | $105.3M | $6.9M |
| Net Cash from Investing Activities | $5.1M | $-33.0M | $-211.7M | $-1.00B | $-63.1M | $-488.2M | $20.2M | $-387.5M |
| Financing Activities | ||||||||
| Dividends Paid | $103.9M | $96.2M | $98.0M | $93.7M | $62.7M | $60.8M | $53.3M | $40.2M |
| Stock Repurchases | $60.8M | $31.0M | $188.9M | $139.9M | $0 | $95.1M | $0 | $0 |
| Net Cash from Financing Activities | $295.8M | $-201.4M | $-193.9M | $-1.31B | $817.0M | $1.57B | $-336.2M | $283.0M |
| Net Change in Cash | $552.0M | $-4.4M | $-128.6M | $-1.89B | $944.0M | $1.15B | $-99.5M | $37.3M |
| Free Cash Flow | $239.0M | $209.5M | $261.2M | $399.1M | $165.0M | $52.1M | $199.9M | $130.7M |