Company / Income Tax
INDEPENDENT BANK CORP /MI/ Income Tax History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Income Tax
$12.8M
FY2025
5-year range
$11.3M / $16.3M
FY2021-FY2025
Trend
-21.6%
vs FY2024
Sector context
#323 of 403
Financials
What the data says
INDEPENDENT BANK CORP /MI/'s income tax of $13M is lower than 80% of companies in the Financials sector (FY2025). Income Tax has fluctuated over the past 10 years, ranging from $9M in FY2020 to $18M in FY2019.
Based on SEC 10-K filings.
$13M in FY2025 with a 5-year CAGR of +6.5%.
Improved from $15M to $13M over the past 2 years.
Financials sector context is included.
Income Tax over time
Growth rates
- 3-Year CAGR
- -1.5%
- 5-Year CAGR
- +6.5%
- 10-Year CAGR
- -
Sector benchmark
Top 20% in FinancialsTop 20% of 403This company $12.8M Sector average $353.4M
▼
-96.4% below sector average
Key checks
Key Insights
- 5-year CAGR of +6.5%, indicating consistent growth.
- In FY2025, income tax decreased 21.6% year-over-year.
- Ranks #323 out of 403 companies in the Financials sector.
- Peak income tax was recorded in FY2019.
Company context
Key Data Points
- Altman Z-Score 0.09 (distress zone, below 1.8 threshold)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Income TaxValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $12.8M | -21.6% |
| FY2024 | $16.3M | +11.3% |
| FY2023 | $14.6M | +9.6% |
| FY2022 | $13.3M | +17.7% |
| FY2021 | $11.3M | +21.9% |
| FY2020 | $9.3M | -48.3% |
| FY2019 | $18.0M | +77.2% |
| FY2018 | $10.1M | -43.6% |
| FY2017 | $18.0M | +77.2% |
| FY2016 | $10.1M | +8.2% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026