See more : NICO Resources Limited (NC1.AX) 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 |
Exploring Analyst Estimates for Independent Bank Corp. (INDB) Q4 Earnings, Beyond Revenue and EPS
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Independent Bank Corp. (INDB), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended December 2023.
Independent Bank Corp.'s Announcement of Date of Fourth 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 fourth quarter results on Friday, January 19, 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 $0.55 per share dividend. The dividend will be payable on January 5, 2024, to stockholders of record...
Independent Bank Corp. CEO Jeffrey Tengel and CFO Mark J. Ruggiero to Participate in the 2023 Piper Sandler East Coast Financial Services Conference
ROCKLAND, Mass.--(BUSINESS WIRE)--Jeffrey Tengel, Chief Executive Officer and Mark J. Ruggiero, Chief Financial Officer and Executive Vice President of Consumer Lending of Independent Bank Corp. (NASDAQ Global Select Market: INDB) will participate in the 2023 Piper Sandler East Coast Financial...
Independent Bank Corp. (INDB) Q3 2023 Earnings Conference Call Transcript
Independent Bank Corp. (INDB) Q3 2023 Earnings Conference Call Transcript
Independent Bank Corp. (INDB) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Although the revenue and EPS for Independent Bank Corp. (INDB) give a sense of how its business performed in the quarter ended September 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the...
Independent Bank Corp. (INDB) Q3 Earnings and Revenues Surpass Estimates
Independent Bank Corp. (INDB) came out with quarterly earnings of $1.38 per share, beating the Zacks Consensus Estimate of $1.33 per share. This compares to earnings of $1.57 per share a year ago.
Independent Bank Corp. Reports Third Quarter Net Income of $60.8 Million
ROCKLAND, Mass.--(BUSINESS WIRE)--Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2023 third quarter net income of $60.8 million, or $1.38 per diluted share, compared to 2023 second quarter net income of $62.6 million,...
Earnings Preview: Independent Bank Corp. (INDB) Q3 Earnings Expected to Decline
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 20, 2023, at 10:00 AM Eastern Time. Telephonic access will be...
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