Pathward Financial vs Independent Bank
Independent Bank reported revenue of $858 million in fiscal 2025, about the same as Pathward Financial's $840 million in fiscal 2025. Pathward Financial's revenue grew 5.3% in its latest year, and Independent Bank's grew 24.3%. Pathward Financial had a return on equity of 22.1%, against 6.2% at Independent Bank. Their fiscal years end in different months (September 30 and December 31), so the periods don't line up exactly.
Side by side
| Pathward Financial | Independent Bank | |
|---|---|---|
| Latest fiscal year | FY2025, Sep 30, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $840M | $858M |
| Revenue growth | 5.3% | 24.3% |
| Revenue growth a year, last 5 years | 11.0% | 12.3% |
| Net income | $186M | $205M |
| Return on equity | 22.1% | 6.2% |
| Return on tangible common equity | 34.5% | 9.5% |
| Efficiency ratio | 66.7% | 61.8% |
| Dividends and buybacks | $5M | $165M |
| Change in diluted share count | −6.7% | 8.7% |
| Last close | $76.26 | $84.10 |
| P/E at the last close | 9.6× | 15.1× |
| Insider trades, last 12 months | sold $2.7 million | sold $15.3 million |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Pathward FinancialIndependent Bank
Return on equity
Percent. Net income over average equity.
Pathward FinancialIndependent Bank
Net income
US$ billions
Pathward FinancialIndependent Bank
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Pathward Financial and Independent Bank pages.