IBCP | Independent Bank Corporation Stock Financials Income Statements Annual

(Stock Exchange: NASDAQ)

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Financial Year End	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31
Revenue	200.50M	204.57M	199.03M	197.52M	164.10M	152.97M	128.41M	117.28M	108.57M	104.40M	111.76M	127.71M	141.48M	165.86M	197.26M	159.87M	167.74M	165.25M	178.61M	155.33M	137.86M	112.72M	105.98M	89.51M	84.10M	63.00M	51.10M	40.30M	31.90M	28.30M
Cost of Revenue	-94.06M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	294.56M	204.57M	199.03M	197.52M	164.10M	152.97M	128.41M	117.28M	108.57M	104.40M	111.76M	127.71M	141.48M	165.86M	197.26M	159.87M	167.74M	165.25M	178.61M	155.33M	137.86M	112.72M	105.98M	89.51M	84.10M	63.00M	51.10M	40.30M	31.90M	28.30M
Operating Expenses	109.27M	-107.34M	-121.72M	-128.04M	-106.34M	-86.35M	-80.85M	-77.49M	-73.34M	-71.89M	-79.94M	-88.37M	-141.70M	53.18M	67.17M	-174.88M	-55.82M	-26.68M	-44.94M	-57.96M	-42.42M	-23.85M	-9.84M	5.63M	-13.40M	-11.80M	-3.80M	-4.30M	-4.50M	-7.40M
Selling, General & Admin	109.27M	85.22M	97.19M	90.33M	82.49M	76.42M	68.23M	63.58M	62.57M	61.44M	63.73M	71.06M	73.45M	70.78M	67.08M	60.71M	61.33M	50.80M	53.70M	50.08M	43.56M	37.34M	37.91M	33.51M	34.30M	26.00M	20.30M	15.70M	12.20M	10.60M
Research & Development	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Other Operating Expenses	N/A	-192.56M	-218.91M	-218.37M	-188.82M	-162.77M	-149.08M	-141.07M	-135.91M	-133.33M	-143.67M	-159.43M	-215.15M	-17.60M	82.00K	-235.60M	-117.14M	-77.48M	-98.64M	-108.04M	-85.98M	-61.19M	-47.74M	-27.88M	-47.70M	-37.80M	-24.10M	-20.00M	-16.70M	-18.00M
Operating Income	91.53M	97.23M	77.31M	69.48M	57.76M	66.62M	47.56M	39.78M	35.24M	32.52M	31.82M	39.34M	-219.00K	18.90M	-42.90M	-15.01M	111.92M	138.56M	133.67M	97.37M	95.43M	88.87M	96.15M	95.14M	70.70M	51.20M	47.30M	36.00M	27.40M	20.90M
Other Expenses / Income	-17.85M	-17.16M	-20.20M	-417.00K	N/A	-3.46M	-10.88M	-13.18M	1.19M	-9.00K	2.20M	-2.79M	-20.19M	-18.30M	-50.53M	-73.59M	-1.77M	-93.08M	1.95M	-7.58M	-44.11M	-48.01M	-62.42M	-67.86M	-58.70M	-36.90M	-34.80M	-24.80M	-17.90M	-12.60M
Before Tax Income	73.68M	77.79M	77.31M	69.48M	57.76M	49.13M	38.44M	32.90M	29.38M	25.22M	22.66M	26.20M	-20.41M	-18.30M	-93.44M	-88.60M	8.85M	45.49M	65.12M	52.35M	51.32M	40.86M	33.72M	27.27M	12.00M	14.30M	12.50M	11.20M	9.50M	8.30M
Income Tax Expenses	14.61M	14.44M	14.42M	13.33M	11.32M	9.29M	17.96M	10.13M	9.36M	7.20M	-54.85M	N/A	-212.00K	-1.59M	-3.21M	3.06M	-1.10M	11.66M	18.21M	13.80M	13.73M	11.40M	9.29M	7.27M	3.30M	4.10M	3.60M	3.30M	2.70M	2.30M
Net Income	59.07M	63.35M	62.90M	56.15M	46.44M	39.84M	20.48M	22.77M	20.02M	18.02M	77.51M	26.20M	-20.20M	-16.71M	-90.23M	-91.66M	10.36M	33.20M	46.91M	38.56M	37.59M	29.47M	24.40M	20.01M	8.70M	10.20M	8.90M	7.90M	6.80M	6.00M
Interest Expenses	83.35M	19.45M	8.31M	16.22M	26.35M	17.49M	9.12M	6.88M	5.86M	7.30M	9.16M	13.14M	20.19M	37.20M	50.53M	73.59M	102.66M	93.70M	68.56M	45.01M	44.11M	48.01M	62.46M	67.86M	58.70M	36.90M	34.80M	24.80M	17.90M	12.60M
Basic Shares Outstanding	20.98M	21.10M	21.59M	21.98M	22.89M	23.41M	21.33M	21.48M	22.72M	22.93M	13.97M	8.71M	8.28M	5.09M	2.39M	2.30M	2.26M	2.29M	2.39M	2.48M	2.38M	2.35M	2.42M	2.48M	2.51M	1.63M	1.60M	1.59M	1.57M	1.57M
Diluted Shares Outstanding	21.17M	21.30M	21.81M	22.22M	23.18M	23.77M	21.65M	21.68M	23.18M	23.47M	21.86M	32.89M	69.69M	41.47M	2.39M	2.30M	2.28M	2.32M	2.44M	2.53M	2.44M	2.39M	2.46M	2.49M	2.54M	1.63M	1.60M	1.59M	1.57M	1.57M
EBITDA	79.42M	83.87M	83.68M	78.64M	63.82M	55.17M	39.43M	38.12M	33.93M	N/A	29.62M	34.86M	N/A	37.70M	-67.68M	-50.34M	N/A	75.42M	50.27M	69.00M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EBITDA Margin	39.61%	41.00%	42.04%	39.81%	38.89%	36.06%	30.71%	32.50%	31.25%	0.00%	26.51%	27.30%	0.00%	22.73%	-34.31%	-31.49%	0.00%	45.64%	28.15%	44.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBIT	157.02M	97.23M	85.63M	85.70M	84.11M	66.62M	47.56M	39.78M	35.24M	32.52M	31.82M	39.34M	-219.00K	18.90M	-42.90M	-15.01M	111.92M	138.56M	133.67M	97.37M	95.43M	88.87M	96.15M	95.14M	70.70M	51.20M	47.30M	36.00M	27.40M	20.90M
EBIT Margin	78.32%	47.53%	43.02%	43.39%	51.25%	43.55%	37.04%	33.92%	32.45%	31.14%	28.47%	30.81%	-0.15%	11.39%	-21.75%	-9.39%	66.72%	83.85%	74.84%	62.68%	69.23%	78.84%	90.72%	106.29%	84.07%	81.27%	92.56%	89.33%	85.89%	73.85%
Financial Year End	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31