Independent Bank Corp.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $857.5M | $689.7M | $731.1M | $727.9M | $507.4M | $479.2M | $508.4M | $386.7M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $262.2M | $247.1M | $504.3M | $377.3M | $170.4M | $187.2M | $272.0M | $181.5M |
| Operating Margin | 30.6% | 35.8% | 69.0% | 51.8% | 33.6% | 39.1% | 53.5% | 46.9% |
| Interest Expense | — | — | $189.2M | $29.6M | $13.7M | $34.3M | $53.9M | $25.5M |
| Pretax Income | $262.2M | $247.1M | $315.1M | $347.8M | $156.7M | $152.8M | $218.1M | $155.9M |
| Income Tax Expense | $57.0M | $55.0M | $75.6M | $83.9M | $35.7M | $31.7M | $52.9M | $34.3M |
| Net Income | $205.1M | $192.1M | $239.5M | $263.8M | $121.0M | $121.2M | $165.2M | $121.6M |
| Net Margin | 23.9% | 27.8% | 32.8% | 36.2% | 23.8% | 25.3% | 32.5% | 31.5% |
| EPS (Basic) | $4.44 | $4.52 | $5.42 | $5.69 | $3.47 | $3.64 | $5.03 | $4.41 |
| EPS (Diluted) | $4.44 | $4.52 | $5.42 | $5.69 | $3.47 | $3.64 | $5.03 | $4.40 |
| Shares Outstanding (Basic) | 46.2M | 42.5M | 44.2M | 46.4M | 34.9M | 33.3M | 32.8M | 27.6M |
| Shares Outstanding (Diluted) | 46.2M | 42.5M | 44.2M | 46.4M | 34.9M | 33.3M | 32.9M | 27.7M |
| Dividends Per Share | $2.36 | $2.28 | $2.20 | $2.08 | — | — | — | — |