Independent Bank Corporation
IBCP · NASDAQ
12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | |
|---|---|---|---|---|
| Revenue | $316,330 | $283,828 | $224,232 | $207,117 |
| % Growth | 11.5% | 26.6% | 8.3% | – |
| Cost of Goods Sold | $104,651 | $90,002 | $25,444 | $7,594 |
| Gross Profit | $211,679 | $193,826 | $198,788 | $199,523 |
| % Margin | 66.9% | 68.3% | 88.7% | 96.3% |
| R&D Expenses | $0 | $0 | $0 | $0 |
| G&A Expenses | $88,774 | $82,921 | $84,017 | $81,365 |
| SG&A Expenses | $91,832 | $85,086 | $86,091 | $83,283 |
| Sales & Mktg Exp. | $3,058 | $2,165 | $2,074 | $1,918 |
| Other Operating Expenses | $36,801 | $35,064 | $34,909 | $38,927 |
| Operating Expenses | $128,633 | $120,150 | $121,000 | $122,210 |
| Operating Income | $83,046 | $73,676 | $77,788 | $77,313 |
| % Margin | 26.3% | 26% | 34.7% | 37.3% |
| Other Income/Exp. Net | $0 | $0 | $0 | $0 |
| Pre-Tax Income | $83,046 | $73,676 | $77,788 | $77,313 |
| Tax Expense | $16,256 | $14,609 | $14,437 | $14,418 |
| Net Income | $66,790 | $59,067 | $63,351 | $62,895 |
| % Margin | 21.1% | 20.8% | 28.3% | 30.4% |
| EPS | 3.2 | 2.82 | 3 | 2.91 |
| % Growth | 13.5% | -6% | 3.1% | – |
| EPS Diluted | 3.16 | 2.79 | 2.97 | 2.88 |
| Weighted Avg Shares Out | 20,872 | 20,946 | 21,117 | 21,613 |
| Weighted Avg Shares Out Dil | 21,136 | 21,171 | 21,330 | 21,839 |
| Supplemental Information | – | – | – | – |
| Interest Income | $266,776 | $239,677 | $169,008 | $138,080 |
| Interest Expense | $100,528 | $83,348 | $19,447 | $8,315 |
| Depreciation & Amortization | $10,005 | $10,019 | $10,827 | $12,130 |
| EBITDA | $93,051 | $83,695 | $88,615 | $89,443 |
| % Margin | 29.4% | 29.5% | 39.5% | 43.2% |