Company / Interest Expense
INDEPENDENT BANK CORP /MI/ Interest Expense History
FY2016-FY2023 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Interest Expense
$83.3M
FY2023
5-year range
$16.2M / $83.3M
FY2019-FY2023
Trend
+414.0%
vs FY2022
Sector context
#168 of 218
Financials
What the data says
Interest Expense changed +414% YoY in FY2023, a notable deviation from the 7-year average annual change of +80%.
Based on SEC 10-K filings.
$83M in FY2023 with a 5-year CAGR of +64.7%.
Increased from $26M to $83M over the past 2 years.
Financials sector context is included.
Interest Expense over time
Growth rates
- 3-Year CAGR
- +68.3%
- 5-Year CAGR
- +64.7%
- 10-Year CAGR
- -
Sector benchmark
Top 23% in FinancialsTop 23% of 218This company $83.3M Sector average $946.4M
▼
-91.2% below sector average
Key checks
Key Insights
- 5-year CAGR of +64.7%, indicating consistent growth.
- In FY2023, interest expense increased 414.0% year-over-year.
- Ranks #168 out of 218 companies in the Financials sector.
- Lowest interest expense in the period was in FY2018.
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 | Interest ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | - | - |
| FY2024 | - | - |
| FY2023 | $83.3M | +414.0% |
| FY2022 | $16.2M | -38.4% |
| FY2021 | $26.3M | +50.6% |
| FY2020 | $17.5M | +91.7% |
| FY2019 | $9.1M | +32.6% |
| FY2018 | $6.9M | -24.6% |
| FY2017 | $9.1M | +32.6% |
| FY2016 | $6.9M | +17.5% |
As of FY2023 · SEC 10-K · Updated Jun 30, 2026