Independent Bank Corp.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $857.5M | $689.7M | $653.9M | $630.0M | $532.2M | $477.1M | $459.4M | $408.8M |
| Net Interest Income | — | — | $577.9M | $545.9M | $422.3M | $370.5M | $377.1M | $337.8M |
| Wealth Management Fees | — | — | $32.5M | $33.4M | $31.8M | $28.5M | $28.5M | $27.9M |
| Service Charges on Deposits | — | — | $14.3M | $16.3M | $13.8M | $12.2M | $13.5M | $12.4M |
| Other Non-Interest Income | — | — | $29.3M | $34.4M | $64.3M | $65.9M | $40.3M | $30.7M |
| 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% | 77.1% | 59.9% | 32.0% | 39.2% | 59.2% | 44.4% |
| 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% | 36.6% | 41.9% | 22.7% | 25.4% | 36.0% | 29.7% |
| 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 | — | — | — | — |