Company / Net Income
INDEPENDENT BANK CORP /MI/ Net Income History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Net Income
$68.5M
FY2025
5-year range
$59.1M / $68.5M
FY2021-FY2025
Trend
+2.6%
vs FY2024
Sector context
#308 of 404
Financials
What the data says
INDEPENDENT BANK CORP /MI/'s net income of $69M is lower than 76% of companies in the Financials sector (FY2025). Net Income has fluctuated over the past 10 years, ranging from $20M in FY2017 to $69M in FY2025.
Based on SEC 10-K filings.
$69M in FY2025 with a 5-year CAGR of +4.1%.
Improved from $59M to $69M over the past 2 years.
Financials sector context is included.
Net Income over time
Growth rates
- 3-Year CAGR
- +2.7%
- 5-Year CAGR
- +4.1%
- 10-Year CAGR
- -
Sector benchmark
Bottom 24% in FinancialsTop 76% of 404This company $68.5M Sector average $1.6B
▼
-95.8% below sector average
Key checks
Key Insights
- 5-year CAGR of +4.1%, indicating consistent growth.
- In FY2025, net income increased 2.6% year-over-year.
- Ranks #308 out of 404 companies in the Financials sector.
- Lowest net income in the period was in FY2017.
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 | Net IncomeValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $68.5M | +2.6% |
| FY2024 | $66.8M | +13.1% |
| FY2023 | $59.1M | -6.8% |
| FY2022 | $63.4M | +0.7% |
| FY2021 | $62.9M | +12.0% |
| FY2020 | $56.2M | +20.9% |
| FY2019 | $46.4M | +16.6% |
| FY2018 | $39.8M | +94.6% |
| FY2017 | $20.5M | -10.1% |
| FY2016 | $22.8M | +13.7% |
As of FY2025 · SEC 10-K · Updated Mar 28, 2026