See more : SEEEN plc (SEEN.L) Income Statement Analysis – Financial Results
Complete financial analysis of Independent Bank Corp. (INDB) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Independent Bank Corp., a leading company in the Banks – Regional industry within the Financial Services sector.
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Independent Bank Corp. (INDB)
About Independent Bank Corp.
Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses primarily in Massachusetts. The company accepts interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit. It also offers commercial and industrial, commercial real estate and construction, small business, consumer real estate, and personal loans. In addition, the company provides investment management and trust services to individuals, institutions, small businesses, and charitable institutions; Internet and mobile banking services, as well as estate settlement, financial planning, tax services, and other services; automated teller machine and debit cards; and mutual fund and unit investment trust shares, general securities, fixed and variable annuities, and life insurance products. As of December 31, 2021, it operates one hundred nineteen retail branches, two limited-service retail branches, and one mobile branch located within Barnstable, Bristol, Dukes, Essex, Middlesex, Nantucket, Norfolk, Plymouth, Suffolk, and Worcester counties in Eastern Massachusetts. The company was founded in 1907 and is headquartered in Rockland, Massachusetts.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | 1988 | 1987 | 1986 | 1985 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 795.73M | 727.92M | 507.41M | 477.45M | 508.43M | 386.67M | 341.84M | 310.24M | 289.59M | 264.86M | 249.82M | 234.81M | 219.78M | 210.87M | 188.89M | 145.55M | 128.23M | 129.30M | 132.99M | 126.17M | 123.57M | 123.39M | 111.87M | 88.57M | 76.62M | 72.20M | 65.00M | 57.60M | 55.40M | 53.00M | 47.50M | 51.00M | 52.60M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cost of Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.43M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 795.73M | 727.92M | 507.41M | 477.45M | 508.43M | 383.24M | 341.84M | 310.24M | 289.59M | 264.86M | 249.82M | 234.81M | 219.78M | 210.87M | 188.89M | 145.55M | 128.23M | 129.30M | 132.99M | 126.17M | 123.57M | 123.39M | 111.87M | 88.57M | 76.62M | 72.20M | 65.00M | 57.60M | 55.40M | 53.00M | 47.50M | 51.00M | 52.60M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit Ratio | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 99.11% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 234.09M | 211.66M | 183.47M | 161.25M | 157.08M | 132.23M | 124.66M | 116.99M | 113.68M | 102.58M | 98.22M | 91.89M | 89.66M | 88.00M | 81.01M | 58.28M | 52.52M | 47.89M | 47.91M | 44.90M | 41.51M | 40.27M | 36.90M | 28.35M | 23.72M | 21.10M | 20.60M | 21.10M | 22.10M | 20.80M | 17.30M | 17.00M | 17.80M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 0.00 | 0.00 | 4.09M | 4.26M | 5.44M | 4.94M | 4.99M | 5.20M | 4.65M | 3.86M | 4.28M | 3.95M | 3.88M | 2.17M | 2.20M | 2.02M | 1.72M | 1.36M | 1.96M | 2.45M | 1.99M | 1.89M | 0.00 | 1.55M | 1.20M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 234.09M | 211.66M | 183.47M | 161.25M | 157.08M | 132.23M | 124.66M | 116.99M | 113.68M | 102.58M | 98.22M | 91.89M | 89.66M | 88.00M | 81.01M | 60.29M | 54.24M | 49.25M | 49.87M | 47.35M | 43.49M | 42.17M | 36.90M | 29.89M | 24.91M | 21.10M | 20.60M | 21.10M | 22.10M | 20.80M | 17.30M | 17.00M | 17.80M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Expenses | 488.04M | -601.03M | -534.20M | -485.86M | -447.40M | -343.15M | -313.62M | -296.36M | -290.48M | -263.28M | 0.00 | -246.01M | -218.19M | -458.00K | -1.35M | -116.40M | -81.74M | -65.91M | -84.72M | 0.00 | 0.00 | 0.00 | -61.76M | -41.44M | -26.78M | -19.80M | -22.50M | -28.50M | -33.30M | -37.10M | -33.00M | -35.60M | -36.70M | -17.90M | 5.90M | 8.90M | 8.30M | 7.80M | 6.00M |
| Operating Expenses | 722.13M | -389.37M | -350.73M | -324.62M | -290.32M | -201.78M | -188.96M | -179.37M | -176.80M | -160.70M | 4.28M | -154.12M | -128.52M | 87.55M | 79.66M | -56.11M | -27.51M | -16.65M | -34.85M | 2.45M | 1.99M | 1.89M | -24.85M | -11.54M | -1.87M | 1.30M | -1.90M | -7.40M | -11.20M | -16.30M | -15.70M | -18.60M | -18.90M | -17.90M | 5.90M | 8.90M | 8.30M | 7.80M | 6.00M |
| Cost & Expenses | 722.13M | -389.37M | -350.73M | -324.62M | -290.32M | -201.78M | -188.96M | -179.37M | -176.80M | -160.70M | 4.28M | -154.12M | -128.52M | 87.55M | 79.66M | -56.11M | -27.51M | -16.65M | -34.85M | 2.45M | 1.99M | 1.89M | -24.85M | -11.54M | -1.87M | 1.30M | -1.90M | -7.40M | -11.20M | -16.30M | -15.70M | -18.60M | -18.90M | -17.90M | 5.90M | 8.90M | 8.30M | 7.80M | 6.00M |
| Interest Income | 795.73M | 642.84M | 415.28M | 402.07M | 447.01M | 323.70M | 277.19M | 246.64M | 235.55M | 216.46M | 205.91M | 196.19M | 195.75M | 178.07M | 173.05M | 176.39M | 159.74M | 167.69M | 155.66M | 134.61M | 128.31M | 140.83M | 145.07M | 127.57M | 112.01M | 108.70M | 93.80M | 77.30M | 73.00M | 68.60M | 61.10M | 65.90M | 80.90M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 189.21M | 29.59M | 13.72M | 34.34M | 53.88M | 25.54M | 18.33M | 18.79M | 20.62M | 20.42M | 23.34M | 23.39M | 28.67M | 38.76M | 52.00M | 58.93M | 63.56M | 65.04M | 49.82M | 36.80M | 32.53M | 40.79M | 54.48M | 55.42M | 50.18M | 49.60M | 41.60M | 32.40M | 29.10M | 27.10M | 26.70M | 32.00M | 49.90M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 0.00 | 26.06M | 18.22M | 19.00M | 18.20M | 11.80M | 12.00M | 10.10M | 12.29M | 11.01M | 8.49M | 10.21M | 9.63M | 9.88M | 5.74M | 6.75M | 5.66M | 6.37M | 5.98M | 5.87M | 5.56M | 4.31M | 7.59M | 5.60M | 4.54M | 4.20M | 3.20M | 3.10M | 3.20M | 5.40M | 3.30M | 2.50M | 2.30M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | 0.00 | 386.55M | 189.50M | 174.40M | 238.80M | 167.83M | 150.31M | 124.07M | 104.49M | 95.85M | 75.23M | 67.51M | 72.22M | 64.43M | 52.92M | 50.46M | 59.20M | 74.56M | 77.25M | 68.89M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -17.90M | 5.90M | 8.90M | 8.30M | 7.80M | 6.00M |
| EBITDA Ratio | 0.00% | 51.84% | 37.35% | 37.72% | 46.72% | 51.07% | 49.31% | 46.81% | 43.19% | 43.48% | 39.45% | 38.71% | 45.91% | 47.95% | 46.31% | 66.09% | 82.96% | 92.05% | 78.29% | 69.00% | 64.79% | 66.83% | 84.56% | 93.29% | 103.49% | 107.62% | 102.00% | 92.53% | 85.56% | 79.43% | 73.89% | 68.43% | 68.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Operating Income | 315.13M | 338.55M | 156.68M | 152.84M | 218.11M | 181.46M | 152.88M | 130.87M | 112.80M | 104.16M | 90.07M | 80.69M | 91.26M | 91.23M | 81.73M | 89.44M | 100.73M | 112.65M | 98.14M | 81.19M | 74.50M | 78.15M | 87.02M | 77.02M | 74.75M | 73.50M | 63.10M | 50.20M | 44.20M | 36.70M | 31.80M | 32.40M | 33.70M | -17.90M | 5.90M | 8.90M | 8.30M | 7.80M | 6.00M |
| Operating Income Ratio | 39.60% | 46.51% | 30.88% | 32.01% | 42.90% | 46.93% | 44.72% | 42.18% | 38.95% | 39.33% | 36.05% | 34.37% | 41.52% | 43.26% | 43.27% | 61.45% | 78.55% | 87.12% | 73.80% | 64.35% | 60.29% | 63.34% | 77.78% | 86.97% | 97.56% | 101.80% | 97.08% | 87.15% | 79.78% | 69.25% | 66.95% | 63.53% | 64.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Total Other Income/Expenses | 0.00 | -85.48M | -99.49M | -62.55M | -77.32M | -54.23M | -44.81M | -43.49M | -51.51M | -43.87M | -50.77M | -12.21M | -243.00K | -2.41M | -17.60M | -8.67M | 0.00 | -65.04M | 0.00 | 0.00 | -32.53M | -40.79M | -54.48M | -55.42M | -50.18M | -49.60M | -41.60M | -32.40M | -29.10M | -27.10M | -26.70M | -32.00M | -49.90M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax | 315.13M | 347.75M | 156.68M | 152.84M | 218.11M | 155.93M | 134.55M | 112.08M | 92.18M | 83.74M | 66.74M | 57.30M | 62.58M | 52.47M | 29.74M | 30.52M | 37.17M | 47.61M | 48.33M | 44.39M | 41.97M | 37.36M | 32.54M | 21.60M | 24.58M | 23.90M | 21.50M | 17.80M | 15.10M | 9.60M | 5.10M | 400.00K | -16.20M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax Ratio | 39.60% | 47.77% | 30.88% | 32.01% | 42.90% | 40.33% | 39.36% | 36.13% | 31.83% | 31.62% | 26.71% | 24.40% | 28.48% | 24.88% | 15.74% | 20.97% | 28.99% | 36.82% | 36.34% | 35.18% | 33.96% | 30.28% | 29.08% | 24.39% | 32.07% | 33.10% | 33.08% | 30.90% | 27.26% | 18.11% | 10.74% | 0.78% | -30.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Income Tax Expense | 75.63M | 83.94M | 35.68M | 31.67M | 52.93M | 34.30M | 47.34M | 35.43M | 27.22M | 23.90M | 16.48M | 14.67M | 17.15M | 12.23M | 6.75M | 6.55M | 8.79M | 14.76M | 15.12M | 13.62M | 15.54M | 12.29M | 10.49M | 6.41M | 7.55M | 7.80M | 7.30M | 6.20M | 4.70M | 1.50M | 500.00K | 200.00K | -4.30M | 17.90M | -5.90M | -8.90M | -8.30M | -7.80M | -6.00M |
| Net Income | 239.50M | 263.81M | 120.99M | 121.17M | 165.18M | 121.62M | 87.20M | 76.65M | 64.96M | 59.85M | 50.25M | 42.63M | 45.44M | 40.24M | 22.99M | 23.96M | 28.38M | 32.85M | 33.21M | 30.77M | 26.43M | 25.07M | 22.05M | 15.19M | 17.03M | 16.10M | 14.20M | 11.60M | 10.40M | 8.10M | 4.60M | 200.00K | -11.90M | -17.90M | 5.90M | 8.90M | 8.30M | 7.80M | 6.00M |
| Net Income Ratio | 30.10% | 36.24% | 23.85% | 25.38% | 32.49% | 31.45% | 25.51% | 24.71% | 22.43% | 22.59% | 20.12% | 18.15% | 20.67% | 19.08% | 12.17% | 16.46% | 22.13% | 25.41% | 24.97% | 24.39% | 21.39% | 20.31% | 19.71% | 17.15% | 22.23% | 22.30% | 21.85% | 20.14% | 18.77% | 15.28% | 9.68% | 0.39% | -22.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| EPS | 5.42 | 5.69 | 3.47 | 3.64 | 5.03 | 4.41 | 3.19 | 2.90 | 2.51 | 2.50 | 2.18 | 1.96 | 2.12 | 1.90 | 0.88 | 1.53 | 2.02 | 2.20 | 2.16 | 2.06 | 1.82 | 1.63 | 1.54 | 1.07 | 1.20 | 1.10 | 0.97 | 0.80 | 0.71 | 0.56 | 0.32 | 0.03 | -2.28 | -3.45 | 1.16 | 1.75 | 1.64 | 1.55 | 1.50 |
| EPS Diluted | 5.42 | 5.69 | 3.47 | 3.64 | 5.03 | 4.40 | 3.19 | 2.90 | 2.50 | 2.49 | 2.18 | 1.95 | 2.12 | 1.90 | 0.88 | 1.52 | 2.00 | 2.17 | 2.14 | 2.06 | 1.79 | 1.61 | 1.53 | 1.06 | 1.19 | 1.08 | 0.95 | 0.79 | 0.71 | 0.56 | 0.32 | 0.03 | -2.28 | -3.45 | 1.16 | 1.75 | 1.64 | 1.55 | 1.50 |
| Weighted Avg Shares Out | 44.18M | 46.37M | 34.87M | 33.26M | 32.81M | 27.59M | 27.29M | 26.40M | 25.89M | 23.90M | 23.01M | 21.78M | 21.42M | 21.18M | 19.64M | 15.69M | 14.03M | 14.94M | 15.38M | 14.94M | 14.56M | 14.42M | 14.29M | 14.24M | 14.21M | 14.73M | 14.64M | 14.50M | 14.63M | 14.46M | 14.38M | 5.00M | 5.22M | 5.19M | 5.09M | 5.09M | 5.06M | 5.03M | 4.00M |
| Weighted Avg Shares Out (Dil) | 44.19M | 46.39M | 34.89M | 33.29M | 32.86M | 27.65M | 27.37M | 26.46M | 25.96M | 23.99M | 23.09M | 21.81M | 21.45M | 21.20M | 19.67M | 15.76M | 14.16M | 15.11M | 15.52M | 15.04M | 14.74M | 14.62M | 14.45M | 14.31M | 14.37M | 14.95M | 14.95M | 14.68M | 14.81M | 14.46M | 14.38M | 5.00M | 5.22M | 5.19M | 5.09M | 5.09M | 5.06M | 5.03M | 4.00M |
Independent Bank Corp. (INDB) Q3 2024 Earnings Call Transcript
Independent Bank Corp. (NASDAQ:INDB ) Q3 2024 Results Conference Call October 18, 2024 10:00 AM ET Company Participants Jeff Tengel - CEO Mark Ruggiero - CFO & Head of Consumer Lending Conference Call Participants Steve Moss - Raymond James Mark...
Compared to Estimates, Independent Bank Corp. (INDB) Q3 Earnings: A Look at Key Metrics
The headline numbers for Independent Bank Corp. (INDB) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago...
Independent Bank Corp. (INDB) Surpasses Q3 Earnings and Revenue Estimates
Independent Bank Corp. (INDB) came out with quarterly earnings of $1.01 per share, beating the Zacks Consensus Estimate of $0.99 per share. This compares to earnings of $1.38 per share a year ago.
Independent Bank Corp. Reports Third Quarter Net Income of $42.9 Million
ROCKLAND, Mass.--(BUSINESS WIRE)--Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2024 third quarter net income of $42.9 million, or $1.01 per diluted share, compared to 2024 second quarter net income of $51.3 million,...
Analysts Estimate Independent Bank Corp. (INDB) to Report a Decline in Earnings: What to Look Out for
Independent Bank Corp. (INDB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Independent Bank Corp.'s Announcement of Date of Third Quarter Conference Call
ROCKLAND, Mass.--(BUSINESS WIRE)--Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, will host its quarterly conference call to discuss third quarter results on Friday, October 18, 2024, at 10:00 AM Eastern Time. Telephonic access will be...
Independent Bank Corp. Announces Quarterly Dividend
ROCKLAND, Mass.--(BUSINESS WIRE)--The Board of Directors of Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced a $0.57 per share dividend. The dividend will be payable on October 4, 2024, to stockholders of record...
Independent Bank Corp. (INDB) Upgraded to Strong Buy: Here's What You Should Know
Independent Bank Corp. (INDB) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
Best Income Stocks to Buy for September 6th
DNBBY, INDB and TOELY made it to the Zacks Rank #1 (Strong Buy) income stocks list on September 6, 2024.
Can Independent Bank Corp. (INDB) Run Higher on Rising Earnings Estimates?
Independent Bank Corp. (INDB) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Source: https://incomestatements.info
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