Independent Bank Corp Income Statement

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Income Statement Dec2009 Dec2010 Dec2011 Dec2012 Dec2013 Dec2014 Dec2015 Dec2016 Dec2017 Dec2018 Dec2019 Dec2020 Dec2021 Dec2022 Dec2023 Dec2024
Revenue & Cost
Provisions 17.34M18.66M11.48M18.06M10.20M10.40M1.50M6.08M2.95M4.78M6.00M52.50M18.20M6.50M23.25M36.25M
Revenue 188.89M210.87M219.78M234.81M250.59M265.99M290.82M310.27M341.85M386.67M508.43M479.17M507.41M727.92M731.13M689.74M
Interest income
Interest income - Loans 172.13M177.06M174.45M178.31M189.75M197.02M214.72M224.24M253.13M294.29M411.46M369.84M381.43M577.92M730.01M789.27M
Interest income - Investments -0.90M-1.81M2.30M38.15M44.60M47.01M71.25M181.79M166.03M77.67M209.26M229.05M183.96M
Interest Income - Debt Securities 22.96M25.66M29.72M32.03M36.50M39.30M35.05M31.63M32.81M40.10M39.14M45.90M44.68M57.14M60.34M60.08M
Interest Income - Fed Funds 0.29M0.34M0.16M0.13M0.20M0.28M0.35M1.19M1.42M2.68M2.21M0.85M2.49M14.38M5.19M5.67M
Interest Income - Total 202.69M202.72M195.75M196.19M205.91M216.46M235.54M246.64M277.19M323.70M447.01M402.07M415.28M642.84M795.73M852.75M
Interest expenses
Interest Expense - Deposits 31.16M20.25M13.36M10.70M10.62M11.04M11.58M11.14M12.70M20.00M41.19M27.33M8.33M24.65M144.75M246.96M
Interest Expense - Debt 20.83M18.51M15.32M12.69M12.71M9.38M9.04M7.65M5.63M5.54M12.69M7.01M5.39M4.94M44.45M44.06M
Interest Expenses 51.99M38.76M28.67M23.39M23.34M20.42M20.62M18.79M18.33M25.54M53.88M34.34M13.72M29.59M189.21M291.02M
Interest Income - Net 150.69M163.96M167.08M172.80M182.58M196.04M214.93M227.84M258.86M298.17M393.13M367.73M401.56M613.25M606.52M561.73M
Non-interest income
Interest Income - Total 133.36M145.31M155.60M154.74M172.38M185.64M213.43M221.77M255.91M293.39M387.13M315.23M383.35M606.75M583.27M525.48M
Financial Services Fees 21.81M23.80M26.16M28.72M29.43M35.31M36.83M40.19M42.74M
Service Charges 12.95M13.62M16.63M15.93M17.94M18.07M18.56M18.65M17.82M18.33M20.04M15.12M16.75M23.37M23.49M26.45M
Investment Gain (Loss) 1.35M0.46M0.72M1.50M
Investment Banking Income 2.80M3.00M4.70M6.10M4.70M3.60M13.20M30.10M19.90M0.56M1.00M4.10M
Investment Advisory 10.05M11.72M13.53M14.78M16.83M19.64M20.73M21.81M23.80M
Mortgage Banking 4.86M5.04M4.20M6.50M6.73M3.38M5.16M6.61M4.96M4.07M11.45M18.95M13.28M3.52M2.33M4.14M
Card Income 4.11M5.08M7.73M9.78M10.88M12.97M14.73M16.21M17.29M18.92M22.15M15.83M12.99M16.25M18.11M19.05M
Other Non-Interest Income 7.12M-16.19M-11.34M-16.59M10.52M10.95M8.36M8.91M11.16M13.14M21.00M15.64M17.58M22.79M34.78M10.35M
Non-Interest Income 38.19M46.91M52.70M62.02M68.01M69.94M75.89M82.43M82.99M88.50M115.29M111.44M105.85M114.67M124.61M128.01M
Operating Items
Amortization - Intangibles 2.71M2.34M6.38M6.13M5.71M7.66M6.88M5.91M
Research & Development 5.78M5.77M4.89M4.64M4.75M4.76M4.63M4.97M4.99M5.12M6.52M6.26M6.90M9.32M9.88M9.96M
Wages, Salaries and Other 68.26M76.98M81.28M84.01M89.89M94.04M105.07M108.64M116.60M124.33M149.16M152.46M172.59M204.71M222.13M233.65M
Rent Expense 15.67M16.01M16.92M17.31M19.65M21.82M23.02M22.87M24.69M27.10M33.21M37.05M36.27M49.84M50.58M52.07M
Restructuring Costs 12.42M6.74M8.69M1.34M10.50M5.46M3.39M11.17M26.43M40.84M7.10M1.90M
Other Operating Expenses 107.94M117.96M123.91M130.77M140.57M143.91M158.99M158.82M171.28M182.58M218.16M230.52M248.53M307.40M332.28M342.44M
Operating Expenses 141.81M139.75M145.71M159.46M173.65M171.84M197.14M192.12M204.36M225.97M284.32M273.83M332.53M373.66M392.75M406.37M
EBIT 81.73M91.23M91.26M80.69M90.07M104.16M112.80M130.87M152.88M181.46M271.99M187.18M170.39M377.35M504.34M538.15M
Non-operating items
Non Operating Investment Income 0.46M0.72M0.12M0.23M
Other Non Operating Income 2.09M3.46M3.44M2.48M3.83M6.16M3.84M2.37M6.48M10.06M3.26M2.93M3.33M2.12M
Net income details
EBT 29.74M52.47M62.58M57.30M66.74M83.74M92.18M112.08M134.54M155.93M218.11M152.84M156.68M347.75M315.13M247.13M
Tax Provisions 6.75M12.23M17.15M14.67M16.48M23.90M27.22M35.43M47.34M34.30M52.93M31.67M35.68M83.94M75.63M55.05M
Profit After Tax 22.99M40.24M45.44M42.63M50.25M59.84M64.96M76.65M87.20M121.62M165.18M121.17M120.99M263.81M239.50M192.08M
Income from Continuing Operations 22.99M40.24M45.44M42.63M50.25M59.84M64.96M76.65M87.20M121.62M165.18M121.17M120.99M263.81M239.50M192.08M
Consolidated Net Income 22.99M40.24M45.44M42.63M50.25M59.84M64.96M76.65M87.20M121.62M165.18M121.17M120.99M263.81M239.50M192.08M
Income towards Parent Company 22.99M40.24M45.44M42.63M50.25M59.84M64.96M76.65M87.20M121.62M165.18M121.17M120.99M263.81M239.50M192.08M
Preferred Dividend Payments 5.70M
Net Income towards Common Stockholders 17.29M40.24M45.44M42.63M50.25M59.84M64.96M76.65M87.20M121.62M165.18M121.17M120.99M263.81M239.50M192.08M
Additional items
EPS (Basic) 0.881.902.121.962.182.502.512.903.194.415.033.643.475.695.424.52
EPS (Weighted Average and Diluted) 0.881.902.121.952.182.492.502.903.194.405.033.643.475.695.424.52
Tax Rate 22.69%23.30%27.40%25.61%24.70%28.54%29.53%31.61%35.19%22.00%24.27%20.72%22.78%24.14%24.00%22.27%