← INDEPENDENT BANK CORP /MI/
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | $22.8m |
$20.5m
-10.06%
|
$39.8m
+94.57%
|
$46.4m
+16.56%
|
$56.2m
+20.93%
|
$62.9m
+12.01%
|
$63.4m
+0.73%
|
$59.1m
-6.76%
|
$66.8m
+13.07%
|
$68.5m
+2.62%
|
— | |
| Depreciation, Amortization and Accretion, Net | $5.2m | $7.0m | $6.0m | $6.1m | $9.2m | $12.1m | $10.8m | $10.0m | $10.0m | $9.9m | $9.9m | |
| Amortization | — | — | — | — | — | — | — | — | $516k | $487k | — | |
| Amortization of Intangible Assets | $300k | $300k | $1.0m | $1.1m | $1.0m | $1.0m | $800k | $500k | $500k | $500k | — | |
| Depreciation | $5.8m | $5.3m | $5.1m | $5.2m | $5.3m | $5.4m | $5.3m | $5.2m | $5.2m | $5.0m | $9.9m | |
| Deferred Income Tax Expense (Benefit) | $9.8m | $10.1m | $9.3m | $1.1m | ($2.1m) | $1.9m | ($359k) | $215k | ($1.2m) | ($3.5m) | ($745k) | |
| Share-based Payment Arrangement, Noncash Expense | $1.6m | $1.7m | $1.7m | $1.9m | $2.0m | $1.9m | $2.1m | $2.2m | $2.3m | $2.7m | $2.7m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $627k | $579k | $1.5m | $882k | $755k | $691k | $620k | $650k | $1.1m | $1.2m | — | |
| Marketable Securities, Gain (Loss), Excluding Other-than-temporary Impairment Loss | $563k | $260k | $138k | $307k | $267k | $1.4m | ($275k) | ($222k) | ($428k) | ($370k) | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal | — | — | — | — | — | — | $5.2m | $3.2m | $5.6m | $5.7m | — | |
| Increase (Decrease) in Other Operating Assets | $5.5m | $3.7m | $4.9m | $6.6m | $8.5m | $11.7m | $25.8m | $14.6m | $25.2m | $25.6m | — | |
| Net Cash Provided by (Used in) Operating Activities | $24.0m |
$38.6m
+60.98%
|
$44.9m
+16.35%
|
$34.0m
-24.36%
|
$58.2m
+71.20%
|
$110.2m
+89.36%
|
$94.6m
-14.09%
|
$75.6m
-20.12%
|
$63.2m
-16.45%
|
$76.7m
+21.39%
|
$49.4m
-35.63%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | $3.5m | $4.2m | $3.9m | $4.9m | $4.4m | $5.8m | $5.7m | $6.0m | $8.0m | $6.5m | ($11.3m) | |
| Equipment Expense | $3.9m | $3.9m | $4.1m | $4.1m | $4.1m | $4.2m | $4.0m | $3.8m | $3.8m | $3.5m | — | |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | $203.0m | $173.7m | $160.6m | $153.9m | $306.7m | $375.7m | $167.6m | $122.8m | $81.1m | $69.6m | — | |
| Net Cash Provided by (Used in) Investing Activities | ($138.9m) | ($277.6m) | ($183.4m) | ($181.6m) | ($553.4m) | ($563.1m) | ($424.6m) | ($162.9m) | ($118.2m) | ($122.5m) | ($189.0m) | |
| Cash flows from financing activities: | ||||||||||||
| Gain (Loss) on Extinguishment of Debt | $0 | — | — | — | — | — | — | — | — | — | — | |
| Payments for Repurchase of Common Stock | $16.9m | $0 | $12.7m | $26.3m | $14.2m | $17.3m | $4.0m | $5.2m | $0 | $12.4m | — | |
| Proceeds from Issuance of Common Stock | $82k | $72k | $267k | $284k | $15k | $61k | $77k | $70k | $13k | $0 | $0 | |
| Dividends paid | $7.3m | $9.0m | $14.1m | $16.6m | $17.6m | $18.2m | $18.6m | $19.3m | $20.0m | $21.6m | ($22.3m) | |
| Payments of Dividends | $7.3m | $9.0m | $14.1m | $16.6m | $17.6m | $18.2m | $18.6m | $19.3m | $20.0m | $21.6m | ($22.3m) | |
| Other Interest and Dividend Income | $1.2m | $1.1m | $1.3m | $1.9m | $1.1m | $846k | $884k | $5.4m | $6.2m | $5.0m | — | |
| Net Cash Provided by (Used in) Financing Activities | $112.3m |
$210.5m
+87.49%
|
$154.0m
-26.87%
|
$142.7m
-7.29%
|
$548.6m
+284.40%
|
$443.7m
-19.13%
|
$294.9m
-33.54%
|
$182.8m
-38.02%
|
$5.1m
-97.20%
|
$64.3m
+1159.35%
|
$159.0m
+147.05%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | $65.3m | $118.7m | $109.5m | $74.4m | $169.8m | $119.9m | $138.4m | $165.4m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Bank Owned Life Insurance Income | $1.1m | $1.1m | $970k | $1.1m | $910k | $567k | $360k | $474k | $834k | $1.2m | — | |
| Gain (Loss) on Sales of Loans, Net | — | — | — | $20.0m | $62.6m | $35.9m | $6.4m | $7.4m | $6.6m | $6.8m | — | |
| Proceeds from Stock Options Exercised | — | $142k | $1.4m | — | — | — | — | — | — | — | — | |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | — | $16.9m | $8.4m | $17.7m | $79.1m | $104.0m | $90.9m | — | |
| Additional Financial Items | ||||||||||||
| Equity Securities, FV-NI, Realized Gain (Loss) | — | — | — | — | — | — | — | — | $2.7m | $0 | — | |
| Equity Securities, FV-NI, Unrealized Gain (Loss) | — | — | ($62k) | $167k | — | — | — | — | — | — | — | |
| Goodwill | — | — | $28.3m | $28.3m | $28.3m | $28.3m | $28.3m | $28.3m | $28.3m | $28.3m | — | |
| Income Tax Expense (Benefit) | $10.1m | $18.0m | $9.3m | $11.3m | $13.3m | $14.4m | $14.4m | $14.6m | $16.3m | $12.8m | — | |
| Financing Receivable, Credit Loss, Expense (Reversal) | — | — | — | — | — | ($1.9m) | $5.3m | $6.2m | $4.5m | $6.1m | — |