Independent Bank Corp income statement
In fiscal 2025, Independent Bank Corp reported revenue of $226m, up 1.4% on the year before and net income of $68.5m, or $3.27 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 198 | 183 | 141 | 150 | 123 | 112 | 115 | 122 | 132 | 158 | 170 | 204 | 206 | 211 | 207 | 223 | 226 | 238 |
| Interest expense | 51 | 37 | 20 | 13 | 9 | 7 | 6 | 7 | 9 | 17 | 26 | 16 | 8 | 19 | 83 | — | — | — |
| Net interest income | 139 | 112 | 95 | 86 | 78 | 73 | 75 | 80 | 89 | 113 | 123 | 124 | 130 | 150 | 156 | 166 | 180 | 186 |
| Non-interest income | 60 | 72 | 47 | 64 | 45 | 39 | 40 | 42 | 43 | 45 | 48 | 81 | 77 | 62 | 51 | 56 | 46 | 51 |
| Non-interest expense | 188 | 155 | 134 | 117 | 104 | 90 | 88 | 90 | 92 | 107 | 112 | 122 | 131 | 128 | 127 | 135 | 138 | 146 |
| Provision for credit losses | 103 | 47 | 28 | 7 | −4 | −3 | −3 | −1 | 1 | 2 | 1 | 12 | −2 | 5 | 6 | 4 | 6 | 7 |
| Income before tax | −93 | −18 | −20 | 26 | 23 | 25 | 29 | 33 | 38 | 49 | 58 | 69 | 77 | 78 | 74 | 83 | 81 | 84 |
| Income tax | −3 | −2 | −0 | 0 | −55 | 7 | 9 | 10 | 18 | 9 | 11 | 13 | 14 | 14 | 15 | 16 | 13 | 13 |
| Net income | −90 | −17 | −20 | 26 | 78 | 18 | 20 | 23 | 20 | 40 | 46 | 56 | 63 | 63 | 59 | 67 | 69 | 72 |
| Diluted EPS | −$39.60 | −$4.09 | −$2.94 | $0.80 | $3.55 | $0.77 | $0.86 | $1.05 | $0.95 | $1.68 | $2.00 | $2.53 | $2.88 | $2.97 | $2.79 | $3.16 | $3.27 | $3.48 |
| Diluted shares (average) | — | 5m | 8m | 9m | 14m | 23m | 23m | 21m | 21m | 23m | 23m | 22m | 22m | 21m | 21m | 21m | 21m | 21m |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 51 | 62 | 54 | 56 | 57 | 58 | 59 | 63 |
| Net interest income | 42 | 43 | 44 | 45 | 45 | 46 | 47 | 48 |
| Non-interest income | 10 | 19 | 10 | 11 | 12 | 12 | 12 | 15 |
| Non-interest expense | 33 | 37 | 34 | 34 | 34 | 36 | 38 | 38 |
| Provision for credit losses | 1 | 2 | 1 | 2 | 2 | 2 | 0 | 3 |
| Income before tax | 17 | 23 | 19 | 21 | 21 | 20 | 20 | 23 |
| Income tax | 3 | 4 | 4 | 4 | 4 | 2 | 3 | 4 |
| Net income | 14 | 18 | 16 | 17 | 18 | 19 | 17 | 19 |
| Diluted EPS | $0.65 | $0.87 | $0.74 | $0.81 | $0.84 | $0.89 | $0.81 | $0.90 |
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