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
$8.3M / $83.3M
FY2019-FY2023
Trend
+328.6%
vs FY2022
Sector context
#166 of 214
Financials
What the data says
Interest Expense changed +329% YoY in FY2023, a notable deviation from the 7-year average annual change of +79%.
Based on SEC 10-K filings.
$83M in FY2023 with a 5-year CAGR of +36.7%.
Increased from $8M to $83M over the past 2 years.
Financials sector context is included.
Interest Expense over time
Growth rates
- 3-Year CAGR
- +72.6%
- 5-Year CAGR
- +36.7%
- 10-Year CAGR
- -
Sector benchmark
Top 22% in FinancialsTop 22% of 214This company $83.3M Sector average $939.3M
▼
-91.1% below sector average
Key checks
Key Insights
- 5-year CAGR of +36.7%, indicating consistent growth.
- In FY2023, interest expense increased 328.6% year-over-year.
- Ranks #166 out of 214 companies in the Financials sector.
- Lowest interest expense in the period was in FY2016.
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 | +328.6% |
| FY2022 | $19.4M | +133.9% |
| FY2021 | $8.3M | -48.7% |
| FY2020 | $16.2M | -38.4% |
| FY2019 | $26.3M | +50.6% |
| FY2018 | $17.5M | +91.7% |
| FY2017 | $9.1M | +32.6% |
| FY2016 | $6.9M | +17.5% |
As of FY2023 · SEC 10-K · Updated Mar 28, 2026