Independent Bank Corp/MA (INDB)

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About

Business overview of Independent Bank Corp/MA (INDB)
Independent Bank Corp is a bank holding company and the sole shareholder of its bank, the Rockland Trust Company. Rockland is a community-oriented commercial bank. The bank provides a variety of banking, investment and financial services, operating with various retail branches, as well as a network of commercial and residential lending centers, and investment management offices majorly in Eastern Massachusetts, Worcester County, and Rhode Island. The bank's loan portfolio constitutes the bulk of the bank's total assets. Its borrowers consist mostly of small to medium-size businesses and consumers, majority of which are made to its market area in eastern Massachusetts and Rhode Island. The bank's loan portfolio is predominantly in commercial loans.

Key Insights

Critical company metrics and information

  • Share Price

    $70.69

  • Market Cap

    $3.00 Billion

  • Total Outstanding Shares

    42.49 Million Shares

  • Total Employees

    1,787

  • Dividend

    $0.57 Per Share Quarterly

  • IPO Date

    January 1, 1986

  • SIC Description

    State Commercial Banks

  • Homepage

    https://www.rocklandtrust.com

Historical Stock Splits

Execution DateSplit Amount
No Historical Stock Splits

Cash Flow Statement

October 1, 2023 to September 30, 2024
MetricValue
Net Cash Flow$204.32 Million
Net Cash Flow From Operating Activities, Continuing$240.54 Million
Net Cash Flow, Continuing$204.32 Million
Net Cash Flow From Investing Activities, Continuing$113.81 Million
Net Cash Flow From Investing Activities$113.81 Million
Net Cash Flow From Financing Activities$-150.02 Million
Net Cash Flow From Operating Activities$240.54 Million
Net Cash Flow From Financing Activities, Continuing$-150.02 Million

Income Statement

October 1, 2023 to September 30, 2024
MetricValue
Diluted Earnings Per Share$4.60
Noninterest Income$127.89 Million
Costs And Expenses$588.49 Million
Interest Income/Expense Operating, Net$562.16 Million
Income Tax Expense/Benefit$80.72 Million
Revenues$843.60 Million
Diluted Average Shares$42.27 Million
Benefits Costs and Expenses$588.49 Million
Income/Loss From Continuing Operations Before Tax$255.11 Million
Net Income/Loss Attributable To Noncontrolling Interest$0.00
Interest Expense, Operating$309.75 Million
Basic Average Shares$84.75 Million
Income/Loss From Continuing Operations After Tax$174.39 Million
Basic Earnings Per Share$4.60
Interest And Dividend Income, Operating$843.60 Million
Other Operating Expenses$548.46 Million
Noninterest Expense$400.69 Million
Net Income/Loss Attributable To Parent$196.85 Million
Net Income/Loss$196.85 Million
Participating Securities, Distributed And Undistributed Earnings/Loss, Basic$0.00
Depreciation and Amortization$40.03 Million
Operating Expenses$588.49 Million
Net Income/Loss Available To Common Stockholders, Basic$196.85 Million
Operating Income/Loss$255.11 Million
Preferred Stock Dividends And Other Adjustments$0.00
Provision For Loan, Lease, And Other Losses$34.25 Million
Income Tax Expense/Benefit, Deferred$7.83 Million
Interest Income/Expense After Provision For Losses$527.91 Million

Balance Sheet

October 1, 2023 to September 30, 2024
MetricValue
Current Liabilities$16.43 Billion
Equity Attributable To Noncontrolling Interest$0.00
Current Assets$19.41 Billion
Liabilities And Equity$19.41 Billion
Equity$2.98 Billion
Liabilities$16.43 Billion
Commitments and Contingencies$0.00
Assets$19.41 Billion
Noncurrent Liabilities$0.00
Equity Attributable To Parent$2.98 Billion
Noncurrent Assets$0.00
Fixed Assets$192.20 Million

Historical Dividends

Current dividend: $0.57 Per Share Quarterly
Announcement DatePayment DateRecord DateAmountFrequency
Sep 19, 2024Oct 4, 2024Sep 30, 2024$0.57Quarterly
Jun 20, 2024Jul 8, 2024Jul 1, 2024$0.57Quarterly
Mar 21, 2024Apr 5, 2024Apr 1, 2024$0.57Quarterly
Dec 14, 2023Jan 5, 2024Dec 26, 2023$0.55Quarterly
Sep 21, 2023Oct 6, 2023Oct 2, 2023$0.55Quarterly
Jun 15, 2023Jul 7, 2023Jun 26, 2023$0.55Quarterly
Mar 16, 2023Apr 6, 2023Mar 27, 2023$0.55Quarterly
Dec 8, 2022Jan 6, 2023Dec 27, 2022$0.55Quarterly
Sep 15, 2022Oct 7, 2022Sep 26, 2022$0.51Quarterly
Jun 16, 2022Jul 8, 2022Jun 27, 2022$0.51Quarterly
Mar 17, 2022Apr 8, 2022Mar 28, 2022$0.51Quarterly
Dec 9, 2021Jan 7, 2022Dec 27, 2021$0.48Quarterly
Sep 16, 2021Oct 8, 2021Sep 27, 2021$0.48Quarterly
Jun 17, 2021Jul 9, 2021Jun 28, 2021$0.48Quarterly
Mar 18, 2021Apr 9, 2021Mar 29, 2021$0.48Quarterly
Dec 10, 2020Jan 8, 2021Dec 28, 2020$0.46Quarterly
Sep 17, 2020Oct 9, 2020Sep 28, 2020$0.46Quarterly
Jun 18, 2020Jul 10, 2020Jun 29, 2020$0.46Quarterly
Mar 19, 2020Apr 9, 2020Mar 30, 2020$0.46Quarterly
Dec 12, 2019Jan 10, 2020Dec 30, 2019$0.44Quarterly
Sep 19, 2019Oct 11, 2019Sep 30, 2019$0.44Quarterly
Jun 20, 2019Jul 12, 2019Jul 1, 2019$0.44Quarterly
Mar 13, 2019Apr 5, 2019Mar 25, 2019$0.44Quarterly
Dec 13, 2018Jan 11, 2019Dec 31, 2018$0.38Quarterly
Sep 20, 2018Oct 5, 2018Oct 1, 2018$0.38Quarterly
Jun 21, 2018Jul 10, 2018Jul 2, 2018$0.38Quarterly
Mar 15, 2018Apr 6, 2018Mar 26, 2018$0.38Quarterly
Dec 14, 2017Jan 5, 2018Dec 26, 2017$0.32Quarterly
Sep 22, 2017Oct 6, 2017Oct 2, 2017$0.32Quarterly
Jun 15, 2017Jul 7, 2017Jun 26, 2017$0.32Quarterly
Mar 16, 2017Apr 7, 2017Mar 27, 2017$0.32Quarterly
Dec 8, 2016Jan 6, 2017Dec 26, 2016$0.29Quarterly
Sep 15, 2016Oct 7, 2016Sep 26, 2016$0.29Quarterly
Jun 16, 2016Jul 8, 2016Jun 27, 2016$0.29Quarterly
Mar 17, 2016Apr 8, 2016Mar 28, 2016$0.29Quarterly
Dec 10, 2015Jan 8, 2016Dec 28, 2015$0.26Quarterly
Sep 17, 2015Oct 9, 2015Sep 28, 2015$0.26Quarterly
Jun 18, 2015Jul 10, 2015Jun 29, 2015$0.26Quarterly
Mar 19, 2015Apr 10, 2015Mar 30, 2015$0.26Quarterly
Dec 11, 2014Jan 9, 2015Dec 29, 2014$0.24Quarterly
Sep 18, 2014Oct 10, 2014Sep 29, 2014$0.24Quarterly
Jun 19, 2014Jul 11, 2014Jun 30, 2014$0.24Quarterly
Mar 20, 2014Apr 11, 2014Mar 31, 2014$0.24Quarterly
Dec 12, 2013Jan 10, 2014Dec 30, 2013$0.22Quarterly
Sep 19, 2013Oct 11, 2013Sep 30, 2013$0.22Quarterly
Jun 20, 2013Jul 12, 2013Jul 1, 2013$0.22Quarterly
Mar 21, 2013Apr 12, 2013Apr 1, 2013$0.22Quarterly
Dec 12, 2012Dec 31, 2012Dec 24, 2012$0.21Quarterly

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