INDEPENDENT BANK CORP /MI/
For the period ended Dec 31, 2025. Filed Mar 6, 2026.
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FY2025 · Filed Mar 6, 2026
IBCP$36.99+1.9%Stored close · as of Nov 9, 2026
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EX-13 · Selected Consolidated Financial Data
SELECTED CONSOLIDATED FINANCIAL DATA
| Year Ended December 31, | |||||
|---|---|---|---|---|---|
| 2025 | 2024 | 2023 | 2022 | 2021 | |
| (Dollars in thousands, except per share amounts) | |||||
| SUMMARY OF OPERATIONS | |||||
| Interest income | $269,737 | $266,776 | $239,677 | $169,008 | $138,080 |
| Interest expense | 89,722 | 100,528 | 83,348 | 19,447 | 8,315 |
| Net interest income | 180,015 | 166,248 | 156,329 | 149,561 | 129,765 |
| Provision for credit losses | 6,135 | 4,468 | 6,210 | 5,341 | (1,928) |
| Net gains (losses) on securities available for sale | (370) | (428) | (222) | (275) | 1,411 |
| Other non-interest income | 46,014 | 56,790 | 50,898 | 62,184 | 75,232 |
| Non-interest expense | 138,233 | 135,096 | 127,119 | 128,341 | 131,023 |
| Income before income tax | 81,291 | 83,046 | 73,676 | 77,788 | 77,313 |
| Income tax expense | 12,750 | 16,256 | 14,609 | 14,437 | 14,418 |
| Net income | $68,541 | $66,790 | $59,067 | $63,351 | $62,895 |
| PER COMMON SHARE DATA | |||||
| Net income per common share | |||||
| Basic | $3.30 | $3.20 | $2.82 | $3.00 | $2.91 |
| Diluted | 3.27 | 3.16 | 2.79 | 2.97 | 2.88 |
| Cash dividends declared and paid | 1.04 | 0.96 | 0.92 | 0.88 | 0.84 |
| Book value | 24.48 | 21.76 | 19.41 | 16.50 | 18.82 |
| SELECTED BALANCES | |||||
| Assets | $5,505,720 | $5,338,104 | $5,263,726 | $4,999,787 | $4,704,740 |
| Loans | 4,276,285 | 4,038,825 | 3,790,901 | 3,465,352 | 2,905,045 |
| Allowance for credit losses | 63,445 | 59,379 | 54,658 | 52,435 | 47,252 |
| Deposits | 4,761,682 | 4,654,088 | 4,622,879 | 4,379,069 | 4,117,090 |
| Shareholders’ equity | 502,951 | 454,686 | 404,449 | 347,596 | 398,484 |
| Other borrowings | 77,003 | 45,009 | 50,026 | 86,006 | 30,009 |
| Subordinated debt | — | 39,586 | 39,510 | 39,433 | 39,357 |
| Subordinated debentures | 39,864 | 39,796 | 39,728 | 39,660 | 39,592 |
| SELECTED RATIOS | |||||
| Net interest income to average interest earning assets | 3.56% | 3.38% | 3.26% | 3.32% | 3.10% |
| Net income to | |||||
| Average shareholders' equity | 14.43 | 15.66 | 16.04 | 18.41 | 16.13 |
| Average assets | 1.27 | 1.27 | 1.15 | 1.31 | 1.41 |
| Average shareholders’ equity to average assets | 8.79 | 8.14 | 7.20 | 7.13 | 8.73 |
| Tier 1 capital to average assets | 10.27 | 9.85 | 9.03 | 8.86 | 8.79 |
| Non-performing loans to Portfolio Loans | 0.54 | 0.15 | 0.14 | 0.11 | 0.18 |
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