Independent Bank Corp (Massachusetts)

Country

United States

Sector

Financial Services

Industry

Banks - Regional

Employees

1,837

Ticker

INDB

Exchange

NASDAQ/NGS

Website

indb.rocklandtrust.com

Description

Independent Bank Corp. is a regional banking company that provides a comprehensive suite of financial services primarily across the United States. Operating mainly through its subsidiary, Rockland Tru... Show more

Financial Statements of Independent Bank Corp (Massachusetts)

Below are the financial statements of Independent Bank Corp (Massachusetts), including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.

Income Statement (as reported) Balance Sheet (as reported)

All figures in millions of USD	2024	2023
Assets	—	—
Cash and due from banks	187.85^a	178.86^a
Interest-earning deposits with banks	32.04^a	45.47^a
Securities	—	—
Trading	4.25^a	4.99^a
Equities	21.2^a	22.51^a
Available for sale	1,250.94^a	1,334.26^a
Held to maturity	1,434.96^a	1,569.11^a
Total securities	2,711.35^a	2,930.86^a
Loans held for sale	7.27^a	6.37^a
Loans	—	—
Commercial and industrial	3,047.67^a	2,925.82^a
Commercial real estate	6,756.71^a	6,695.67^a
Commercial construction	782.08^a	849.59^a
Small business	281.78^a	251.96^a
Residential real estate	2,460.6^a	2,424.75^a
Home equity - first position	490.12^a	518.71^a
Home equity - subordinate positions	650.05^a	578.92^a
Other consumer	39.37^a	32.65^a
Total loans	14,508.38^a	14,278.07^a
Less: allowance for credit losses	-169.98^a	-142.22^a
Net loans	14,338.39^a	14,135.85^a
Federal Home Loan Bank stock	31.57^a	43.56^a
Bank premises and equipment, net	193.32^a	193.05^a
Goodwill	985.07^a	985.07^a
Other intangible assets	12.28^a	18.19^a
Cash surrender value of life insurance policies	303.97^a	297.39^a
Other assets	570.45^a	512.71^a
Total assets	19,373.57^a	19,347.37^a
Deposits	—	—
Noninterest-bearing demand deposits	4,390.7^a	4,567.08^a
Savings and interest checking accounts	5,207.55^a	5,298.91^a
Money market	2,960.38^a	2,818.07^a
Time certificates of deposit	2,747.35^a	2,181.48^a
Total deposits	15,305.98^a	14,865.55^a
Borrowings	—	—
Federal Home Loan Bank borrowings	638.51^a	1,105.54^a
Junior subordinated debentures	62.86^a	62.86^a
Subordinated debentures	0^a	49.98^a
Total borrowings	701.37^a	1,218.38^a
Other liabilities	373.09^a	368.2^a
Total liabilities	16,380.45^a	16,452.12^a
Commitments and contingencies	0^a	0^a
Stockholders’ equity	—	—
Preferred stock	0^a	0^a
Common stock	0.42^a	0.43^a
Value of shares held in rabbi trust at cost	-3.38^a	-3.3^a
Deferred compensation obligation	3.38^a	3.3^a
Additional paid in capital	1,909.98^a	1,932.16^a
Retained earnings	1,172.72^a	1,077.49^a
Accumulated other comprehensive loss, net of tax	-90.01^a	-114.83^a
Total stockholders’ equity	2,993.12^a	2,895.25^a
Total liabilities and stockholders’ equity	19,373.57^a	19,347.37^a

Verified Sources Behind Independent Bank Corp (Massachusetts)’s Financial Fundamentals Data

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a. Independent Bank Corp (Massachusetts)'s 10-K 2024

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Independent Bank Corp (Massachusetts)

Financial Statements of Independent Bank Corp (Massachusetts)

Verified Sources Behind Independent Bank Corp (Massachusetts)’s Financial Fundamentals Data

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