INDEPENDENT BANK CORP INDB

Financials SIC 6022 - State Commercial Banks NAICS Finance and Insurance › Credit Intermediation and Related Activities › Depository Credit Intermediation › Commercial Banking derived Nasdaq

Independent Bank Corp. (the "Company") is a state chartered, federally registered bank holding company headquartered in Rockland, Massachusetts that was incorporated under Massachusetts law in 1985. The Company is the sole stockholder of Rockland Trust Company ("Rockland Trust" or the "Bank"), a Massachusetts trust company chartered in 1907. The Bank provides a wide range of banking, investment and financial services, operating with over 150 retail branches, as well as a network of commercial and residential lending centers, and investment management offices primarily in Eastern Massachusetts, as well as in Worcester County, southern New Hampshire, and Rhode Island. Rockland Trust also offers a full suite of mobile, online, and telephone banking services. At December 31, 2025, the Company had total assets of $24.9 billion, total deposits of $20.1 billion, and stockholders' equity of $3.6 billion.

Last close 83.72 2026-10-23
Market cap $3.97B 2026-06-30 share count
52-week range 65.44 - 87.50

Valuation FY2025 figures against the last close

P/S3.9x
P/E18.9x
P/FCF16.6x
EV/EBITDA—
Dividend yield2.6%
Diluted EPS4.44

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.02B$852.8M$795.7M$642.8M$415.3M$402.1M$447.0M$323.7M$277.2M$246.6M
Interest expense $708.8M$561.7M$606.5M$613.2M$13.7M$34.3M$53.9M$25.5M$18.3M$18.8M
Pre-tax income $262.2M$247.1M$315.1M$347.8M$156.7M$152.8M$218.1M$155.9M$134.5M$112.1M
Income tax $57.0M$55.0M$75.6M$83.9M$35.7M$31.7M$52.9M$34.3M$47.3M$35.4M
Net income $205.1M$192.1M$239.5M$263.8M$121.0M$121.2M$165.2M$121.6M$87.2M$76.6M
EPS, basic 4.444.525.425.693.473.645.034.413.192.90
EPS, diluted 4.444.525.425.693.473.645.034.403.192.90
Shares, diluted (wtd. avg.) 46.2M42.5M44.2M46.4M34.9M33.3M32.9M27.7M27.4M26.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $771.9M$219.9M$224.3M$352.9M$2.24B$1.30B$151.0M$127.5M$103.5M$97.2M
Property, plant and equipment $218.2M$193.3M$193.0M$196.5M$195.6M$116.4M$123.7M$97.6M$94.7M$78.5M
Goodwill $1.09B$985.1M$985.1M$985.1M$985.1M$506.2M$506.2M$506.2M$256.1M$221.5M
Other intangibles $133.6M$12.3M$18.2M$25.1M$32.8M$23.1M$29.3M$15.2M$9.3M$9.8M
Total assets $24.91B$19.37B$19.35B$19.29B$20.42B$13.20B$11.40B$8.85B$8.08B$7.71B
Short-term debt ——————$50.0M———
Long-term debt $359.3M$62.9M$112.8M$112.7M$126.7M$145.3M$187.4M$110.9M$107.8M$107.7M
Total liabilities $21.35B$16.38B$16.45B$16.41B$17.40B$11.50B$9.69B$7.78B$7.14B$6.84B
Retained earnings $1.27B$1.17B$1.08B$934.4M$766.7M$716.0M$654.2M$546.7M$465.9M$414.1M
Total equity $3.57B$2.99B$2.90B$2.89B$3.02B$1.70B$1.71B$1.07B$943.8M$864.7M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $251.2M$229.9M$277.0M$421.2M$190.2M$64.6M$216.5M$141.8M$130.9M$92.9M
Depreciation and amortisation $22.5M$19.9M$18.9M$18.4M$12.5M$12.8M$11.4M$9.1M$8.5M$7.3M
Stock-based compensation $9.0M$6.5M$6.4M$4.5M$4.3M$4.1M$4.4M$4.2M$3.3M$3.0M
Capital expenditure $12.1M$20.4M$15.8M$22.1M$25.2M$12.6M$16.6M$11.1M$25.1M$10.4M
Investing cash flow $5.0M-$33.0M-$211.7M-$1.00B-$63.1M-$488.2M$20.2M-$387.5M-$316.8M-$238.9M
Financing cash flow $295.8M-$201.4M-$193.9M-$1.31B$817.0M$1.57B-$336.2M$283.0M$109.9M$159.3M
Dividends paid $103.9M$96.2M$98.0M$93.7M$62.7M$60.8M$53.3M$40.2M$34.0M$29.7M
Buybacks $60.8M$31.0M$188.9M$139.9M$0$95.1M$0$0——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000776901-26-000058.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 500M 1B 1.5B Revenue, FY2016: 246.6M Net income, FY2016: 76.6M Revenue, FY2017: 277.2M Net income, FY2017: 87.2M Revenue, FY2018: 323.7M Net income, FY2018: 121.6M Revenue, FY2019: 447M Net income, FY2019: 165.2M Revenue, FY2020: 402.1M Net income, FY2020: 121.2M Revenue, FY2021: 415.3M Net income, FY2021: 121M Revenue, FY2022: 642.8M Net income, FY2022: 263.8M Revenue, FY2023: 795.7M Net income, FY2023: 239.5M Revenue, FY2024: 852.8M Net income, FY2024: 192.1M Revenue, FY2025: 1B Net income, FY2025: 205.1M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $246.6M $277.2M $323.7M $447.0M $402.1M $415.3M $642.8M $795.7M $852.8M $1.02B
Gross profit — — — — — — — — — —
Net income $76.6M $87.2M $121.6M $165.2M $121.2M $121.0M $263.8M $239.5M $192.1M $205.1M

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Other event Item 8.01
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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