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.
| All figures in millions of USD | 2024 as of 2024-12-31 | 2023 as of 2023-12-31 |
|---|---|---|
| Assets | — | — |
| Cash and due from banks | 187.85a | 178.86a |
| Interest-earning deposits with banks | 32.04a | 45.47a |
| Securities | — | — |
| Trading | 4.25a | 4.99a |
| Equities | 21.2a | 22.51a |
| Available for sale | 1,250.94a | 1,334.26a |
| Held to maturity | 1,434.96a | 1,569.11a |
| Total securities | 2,711.35a | 2,930.86a |
| Loans held for sale | 7.27a | 6.37a |
| Loans | — | — |
| Commercial and industrial | 3,047.67a | 2,925.82a |
| Commercial real estate | 6,756.71a | 6,695.67a |
| Commercial construction | 782.08a | 849.59a |
| Small business | 281.78a | 251.96a |
| Residential real estate | 2,460.6a | 2,424.75a |
| Home equity - first position | 490.12a | 518.71a |
| Home equity - subordinate positions | 650.05a | 578.92a |
| Other consumer | 39.37a | 32.65a |
| Total loans | 14,508.38a | 14,278.07a |
| Less: allowance for credit losses | -169.98a | -142.22a |
| Net loans | 14,338.39a | 14,135.85a |
| Federal Home Loan Bank stock | 31.57a | 43.56a |
| Bank premises and equipment, net | 193.32a | 193.05a |
| Goodwill | 985.07a | 985.07a |
| Other intangible assets | 12.28a | 18.19a |
| Cash surrender value of life insurance policies | 303.97a | 297.39a |
| Other assets | 570.45a | 512.71a |
| Total assets | 19,373.57a | 19,347.37a |
| Deposits | — | — |
| Noninterest-bearing demand deposits | 4,390.7a | 4,567.08a |
| Savings and interest checking accounts | 5,207.55a | 5,298.91a |
| Money market | 2,960.38a | 2,818.07a |
| Time certificates of deposit | 2,747.35a | 2,181.48a |
| Total deposits | 15,305.98a | 14,865.55a |
| Borrowings | — | — |
| Federal Home Loan Bank borrowings | 638.51a | 1,105.54a |
| Junior subordinated debentures | 62.86a | 62.86a |
| Subordinated debentures | 0a | 49.98a |
| Total borrowings | 701.37a | 1,218.38a |
| Other liabilities | 373.09a | 368.2a |
| Total liabilities | 16,380.45a | 16,452.12a |
| Commitments and contingencies | 0a | 0a |
| Stockholders’ equity | — | — |
| Preferred stock | 0a | 0a |
| Common stock | 0.42a | 0.43a |
| Value of shares held in rabbi trust at cost | -3.38a | -3.3a |
| Deferred compensation obligation | 3.38a | 3.3a |
| Additional paid in capital | 1,909.98a | 1,932.16a |
| Retained earnings | 1,172.72a | 1,077.49a |
| Accumulated other comprehensive loss, net of tax | -90.01a | -114.83a |
| Total stockholders’ equity | 2,993.12a | 2,895.25a |
| Total liabilities and stockholders’ equity | 19,373.57a | 19,347.37a |
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