Independent Bank Corp income statement
In fiscal 2025, Independent Bank Corp reported revenue of $858m, up 24.3% on the year before and net income of $205m, or $4.44 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 | 189 | 211 | 220 | 235 | 251 | 266 | 291 | 310 | 342 | 387 | 508 | 479 | 507 | 728 | 731 | 690 | 858 | 1,004 |
| Interest expense | 52 | 39 | 29 | 23 | 23 | 20 | 21 | 19 | 18 | 26 | 54 | 34 | 14 | 30 | 189 | — | — | — |
| Net interest income | 151 | 164 | 167 | 173 | 183 | 196 | 215 | 228 | 259 | 298 | 393 | 368 | 402 | 613 | 607 | 562 | 709 | 839 |
| Non-interest income | 38 | 47 | 53 | 62 | 68 | 70 | 76 | 82 | 83 | 89 | 115 | 111 | 106 | 115 | 125 | 128 | 149 | 164 |
| Non-interest expense | 142 | 140 | 146 | 159 | 174 | 172 | 197 | 192 | 204 | 226 | 284 | 274 | 333 | 374 | 393 | 406 | 530 | 598 |
| Provision for credit losses | 17 | 19 | 11 | 18 | 10 | 10 | 2 | 6 | 3 | 5 | 6 | 53 | 18 | 7 | 23 | 36 | 65 | 55 |
| Income before tax | 30 | 52 | 63 | 57 | 67 | 84 | 92 | 112 | 135 | 156 | 218 | 153 | 157 | 348 | 315 | 247 | 262 | 350 |
| Income tax | 7 | 12 | 17 | 15 | 16 | 24 | 27 | 35 | 47 | 34 | 53 | 32 | 36 | 84 | 76 | 55 | 57 | — |
| Net income | 23 | 40 | 45 | 43 | 50 | 60 | 65 | 77 | 87 | 122 | 165 | 121 | 121 | 264 | 240 | 192 | 205 | 271 |
| Diluted EPS | $0.88 | $1.90 | $2.12 | $1.95 | $2.18 | $2.49 | $2.50 | $2.90 | $3.19 | $4.40 | $5.03 | $3.64 | $3.47 | $5.69 | $5.42 | $4.52 | $4.44 | $5.52 |
| Diluted shares (average) | 20m | 21m | 21m | 22m | 23m | 24m | 26m | 26m | 27m | 28m | 33m | 33m | 35m | 46m | 44m | 43m | 46m | 49m |
| 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 | 175 | 177 | 178 | 182 | 244 | 254 | 253 | 253 |
| Net interest income | 142 | 145 | 146 | 147 | 203 | 212 | 212 | 211 |
| Non-interest income | 34 | 32 | 33 | 34 | 40 | 41 | 40 | 42 |
| Non-interest expense | 100 | 106 | 106 | 109 | 161 | 154 | 143 | 140 |
| Provision for credit losses | 20 | 8 | 15 | 7 | 39 | 5 | 6 | 6 |
| Income before tax | 55 | 63 | 57 | 66 | 44 | 95 | 104 | 107 |
| Net income | 43 | 50 | 44 | 51 | 34 | 75 | 80 | 82 |
| Diluted EPS | $1.01 | $1.18 | $1.04 | $1.20 | $0.69 | $1.56 | $1.63 | $1.70 |
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