7Baggers

Independent Bank Corp Quarterly Income Statements Chart

Quarterly
 | 
Annual
 
 Net Income  
20200930 20201231 20210331 20210630 20210930 20211231 20220331 20220630 20220930 20221231 20230331 20230630 20230930 20231231 20240331 20240630 20240930 20241231 20250331 20250630 011.0122.0133.0244.0255.0366.0477.04Milllion

Independent Bank Corp Quarterly Income Statements Table

Quarterly
 | 
Annual
 
Unit: USD2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2013-12-31 2012-09-30 2012-06-30 2011-12-31 2011-09-30 2011-06-30 2010-12-31 2010-09-30 2010-06-30 2010-03-31 2009-12-31 2009-09-30 2009-06-30 2009-03-31 2008-09-30 2008-06-30 2008-03-31 2007-12-31 2007-09-30 2007-06-30 2007-03-31 2006-12-31 2006-09-30 2006-06-30 2006-03-31 2005-12-31 
                                                        
  interest income                                                      
  interest and fees on loans197,778,000 195,093,000 198,177,000 200,597,000 197,274,000 193,226,000 192,178,000 187,145,000 179,759,000 170,926,000 164,153,000 150,157,000 133,988,000 129,625,000 116,024,000 84,212,000 88,814,000 92,383,000 89,068,000 90,112,000 91,634,000 99,022,000 104,724,000 110,205,000 112,923,000 83,608,000 79,807,000 75,220,000                           
  taxable interest and dividends on securities15,879,000 15,296,000 14,805,000 14,064,000 13,992,000 14,231,000 14,629,000 14,817,000 15,581,000 15,309,000 15,787,000 13,243,000 11,281,000 10,043,000 8,874,000 7,792,000 7,184,000 6,627,000 7,127,000 7,218,000 7,831,000 7,957,000 8,150,000 8,269,000 8,521,000 7,465,000 7,132,000 6,664,000 2,199,000 3,995,000 4,415,000 4,547,000 4,929,000 5,357,000 5,707,000 5,679,000 6,129,000 6,469,000 6,893,000 7,426,000 7,414,000 6,963,000 5,643,000 5,409,000 5,414,000 5,566,000 4,775,000 4,984,000 5,416,000 6,736,000 6,896,000 6,411,000 7,228,000  
  nontaxable interest and dividends on securities2,000 1,000 2,000 1,000 2,000 1,000 2,000 1,000 2,000 1,000 2,000 1,000 2,000 1,000 2,000 4,000 5,000 5,000 8,000 9,000 9,000 9,000 11,000 14,000 13,000 13,000 14,000 14,000 -17,000 20,000 23,000                        
  interest on loans held for sale140,000 92,000 182,000 227,000 199,000 104,000 57,000 60,000 39,000 34,000 22,000 51,000 35,000 64,000 181,000 193,000 186,000 296,000 301,000 326,000 359,000 232,000 364,000 456,000 40,000 31,000 49,000 61,000 233,000 255,000 156,000 177,000 116,000 70,000 276,000 174,000 110,000 106,000 132,000 169,000               
  interest on federal funds sold and short-term investments4,393,000 1,438,000 3,154,000 1,635,000 397,000 483,000 304,000 905,000 3,312,000 665,000 4,163,000 6,519,000 2,817,000 886,000 840,000 815,000 513,000 326,000 301,000 254,000 132,000 160,000 454,000 680,000 647,000 426,000 908,000 916,000       70,000 135,000 108,000 24,000 18,000 4,000 70,000 198,000 62,000 15,000 19,000 56,000 679,000 289,000 444,000 785,000 577,000 52,000 100,000  
  total interest and dividend income218,192,000 211,920,000 216,320,000 216,524,000 211,864,000 208,045,000 207,170,000 202,928,000 198,693,000 186,935,000 184,127,000 169,971,000 148,123,000 140,619,000 125,921,000 93,016,000 96,702,000 99,637,000 96,805,000 97,919,000 99,965,000 107,380,000 113,703,000 119,624,000 122,144,000 91,543,000 87,910,000 82,875,000 61,136,000 48,555,000 48,426,000 48,384,000 48,935,000 49,474,000 38,188,500 50,588,000 51,319,000 50,848,000 37,451,500 53,590,000 52,806,000 43,411,000 45,272,000 44,555,000 41,079,000 29,894,500 39,852,000 39,603,000 40,124,000      
  interest expense                                                      
  interest on deposits59,843,000 59,436,000 64,188,000 66,985,000 61,469,000 54,320,000 49,455,000 40,713,000 31,909,000 22,675,000 14,325,000 6,109,000 2,111,000 2,107,000 1,966,000 1,633,000 2,017,000 2,711,000 3,982,000 5,432,000 7,027,000 10,892,000 11,134,000 11,846,000 11,178,000 7,028,000 6,222,000 5,251,000 2,579,000 2,619,000 2,687,000 2,907,000 3,419,000 3,544,000 4,029,000 4,801,000 5,485,000 5,939,000 6,870,000 7,446,000 8,441,000 8,407,000 9,078,000 9,539,000 10,315,000 10,610,000 11,119,000 10,816,000 11,094,000 11,700,000 11,229,000 9,404,000 8,460,000  
  interest on borrowings10,853,000 6,979,000 7,471,000 7,836,000 12,469,000 16,286,000 12,618,000 12,335,000 14,238,000 5,262,000 1,447,000 1,261,000 1,151,000 1,080,000 1,425,000 1,292,000 1,331,000 1,342,000 1,380,000 1,604,000 1,840,000 2,184,000 2,576,000 3,180,000 4,947,000 1,990,000 1,396,000 1,390,000 3,299,000 3,098,000 3,111,000 3,621,000 3,842,000 3,854,000 4,554,000 4,590,000 4,667,000 4,699,000 5,315,000 5,236,000 5,265,000 5,015,000 5,079,000 4,929,000 4,999,000 5,059,000 4,463,000 5,354,000 5,041,000 6,565,000 5,751,000 5,994,000 5,935,000  
  total interest expense70,696,000 66,415,000 71,659,000 74,821,000 73,938,000 70,606,000 62,073,000 53,048,000 46,147,000 27,937,000 15,772,000 7,370,000 3,262,000 3,187,000 3,391,000 2,925,000 3,348,000 4,053,000 5,362,000 7,036,000 8,867,000 13,076,000 13,710,000 15,026,000 16,125,000 9,018,000 7,618,000 6,641,000 5,878,000 5,717,000 5,798,000 6,528,000 7,261,000 7,398,000 8,583,000 9,391,000 10,152,000 10,638,000 12,185,000 12,682,000 13,706,000 13,422,000 14,157,000 14,468,000 15,314,000 15,669,000 15,582,000 16,170,000 16,135,000 18,265,000 16,980,000 15,398,000 14,395,000  
  net interest income147,496,000 145,505,000 144,661,000 141,703,000 137,926,000 137,439,000 145,097,000 149,880,000 152,546,000 158,998,000 168,355,000 162,601,000 144,861,000 137,432,000 122,530,000 90,091,000 93,354,000 95,584,000 91,443,000 90,883,000 91,098,000 94,304,000 99,993,000 104,598,000 106,019,000 82,525,000 80,292,000 76,234,000 55,258,000 42,838,000 42,628,000 41,856,000 41,674,000 42,076,000 41,387,000 41,197,000 41,167,000 40,210,000 40,698,000 40,908,000 39,100,000 29,989,000 31,115,000 30,087,000 25,765,000 24,491,000 24,270,000 23,433,000 23,989,000 24,711,000 25,829,000 25,809,000 26,306,000  
  benefit from credit losses7,200,000 15,000,000 7,500,000 19,500,000 4,250,000 5,000,000 5,500,000 5,500,000       35,705,000 -10,000,000 -5,000,000 -2,500,000  7,500,000 20,000,000 25,000,000                                 
  net interest income after benefit from credit losses140,296,000 130,505,000 137,161,000 122,203,000 133,676,000 132,439,000 139,597,000 144,380,000 147,546,000 151,748,000 162,855,000 159,601,000 144,861,000 139,432,000 86,825,000 100,091,000 98,354,000 98,084,000 91,443,000 83,383,000 71,098,000 69,304,000                                 
  noninterest income                                                      
  deposit account fees7,141,000 7,053,000 7,116,000 6,779,000 6,332,000 6,228,000 6,126,000 5,936,000 5,508,000 5,916,000 5,788,000 6,261,000 5,828,000 5,493,000 5,041,000 4,298,000 3,822,000 3,584,000 3,894,000 3,428,000 2,829,000 4,970,000 5,255,000 5,299,000 5,080,000 4,406,000 4,687,000 4,658,000                           
  interchange and atm fees4,997,000 4,622,000 4,880,000 4,970,000 4,753,000 4,452,000 4,638,000 4,808,000 4,478,000 4,184,000 4,282,000 4,331,000 4,027,000 3,609,000 3,758,000 3,441,000 3,068,000 2,720,000 2,680,000 3,044,000 5,214,000 4,896,000 5,705,000 6,137,000 5,794,000 4,516,000 5,027,000 4,947,000 3,694,000 2,422,000 2,399,000 2,052,000 2,005,000 1,974,000                     
  investment management and advisory11,380,000 11,220,000 7,990,250 11,033,000 10,987,000 9,941,000                                                 
  mortgage banking income1,072,000 741,000 1,055,000 972,000 1,320,000 796,000 609,000 739,000 670,000 308,000 526,000 585,000 1,042,000 1,362,000 2,010,000 2,825,000 2,705,000 5,740,000 5,378,000 7,704,000 5,005,000 861,000 3,270,000 3,968,000 3,410,000 806,000 941,000 1,222,000 2,496,000 1,445,000 1,463,000 1,560,000 907,000 683,000 1,950,000 1,469,000 622,000 1,000,000 1,279,000 425,000 1,996,000 1,156,000 501,000 960,000 1,114,000 949,000 623,000 820,000 774,000 705,000 526,000 650,000 818,000  
  increase in cash surrender value of life insurance policies2,038,000 2,065,000 2,152,000 2,006,000 2,000,000 1,928,000 2,091,000 1,983,000 1,940,000 1,854,000 2,136,000 1,883,000 1,871,000 1,795,000 1,923,000 1,596,000 1,589,000 1,323,000 1,460,000 1,314,000 1,312,000 1,276,000 1,441,000 1,304,000 1,296,000 972,000 1,131,000 984,000 1,018,000 757,000 741,000                        
  gain on life insurance benefits1,650,000  194,000   263,000 180,000 1,924,000 176,000 11,000 691,000 477,000 123,000     258,000 352,000  335,000 357,000  434,000    1,463,000                           
  loan level derivative income66,000 1,042,000 439,000 1,125,000 473,000 80,000 802,000 842,000 1,275,000 408,000 1,421,000 471,000 436,000 604,000 2,382,000 586,000 116,000 173,000 1,140,000 2,457,000 2,864,000 3,597,000 2,166,000 2,739,000 932,000 641,000 826,000 392,000 692,000 1,047,000                         
  other noninterest income5,964,000 5,796,000 5,573,000 6,664,000 6,465,000 6,255,000 7,803,000 7,065,000 6,362,000 5,782,000 7,064,000 5,751,000 5,242,000 4,736,000 5,831,000 4,537,000 4,359,000 3,144,000 4,828,000 3,829,000 1,949,000 3,649,000 7,830,000 4,747,000 4,983,000 3,444,000 4,258,000 3,030,000 3,232,000 1,448,000 2,706,000                        
  total noninterest income34,308,000 32,539,000 32,192,000 33,549,000 32,330,000 29,943,000 32,067,000 33,543,000 30,757,000 28,242,000 32,302,000 28,195,000 27,898,000 26,272,000 29,180,000 26,457,000 24,967,000 25,246,000 27,468,000 29,347,000 28,190,000 26,435,000 33,297,000 31,816,000 28,648,000 21,533,000 23,491,000 23,264,000 23,009,000 16,108,000 14,983,000                        
  noninterest expenses                                                      
  salaries and employee benefits62,856,000 61,931,000 59,209,000 60,108,000 57,162,000 57,174,000 56,388,000 54,797,000 53,975,000 56,975,000 53,754,000 52,708,000 49,538,000 48,711,000 47,827,000 42,235,000 42,635,000 39,889,000 39,433,000 38,409,000 37,269,000 37,349,000 37,764,000 39,432,000 38,852,000 33,117,000 31,845,000 31,095,000 27,979,000 20,704,000 19,775,000 20,693,000 20,568,000 19,762,000 20,321,000 19,792,000 18,406,000 18,464,000 18,537,000 17,727,000 17,134,000 14,859,000 14,719,000 14,945,000 14,143,000 13,251,000 13,103,000 13,013,000 13,152,000 11,866,000 12,088,000 12,072,000 11,864,000  
  occupancy and equipment expenses13,158,000 13,859,000 13,399,000 12,734,000 12,472,000 13,467,000 13,054,000 12,321,000 12,385,000 12,822,000 12,586,000 12,316,000 11,637,000 13,302,000 9,722,000 8,564,000 8,706,000 9,273,000 9,187,000 9,273,000 9,273,000 9,317,000 9,098,000 8,555,000 8,424,000 7,130,000 6,883,000 6,310,000 6,898,000 4,218,000 4,234,000 3,970,000 4,107,000 4,263,000 3,943,000 3,839,000 4,094,000 4,135,000 3,847,000 3,985,000 4,136,000 3,705,000 3,200,000 3,235,000 2,903,000 2,376,000 2,395,000 2,607,000 2,554,000 2,442,000 2,378,000 2,526,000 2,713,000  
  data processing and facilities management2,783,000 2,642,000 1,849,500 2,510,000 2,405,000 2,483,000 1,865,250 2,404,000 2,530,000 2,527,000 1,719,500 2,259,000 2,247,000 2,372,000 1,256,000 1,673,000 1,686,000 1,665,000 1,171,000 1,567,000 1,459,000 1,658,000 1,220,750 1,515,000 2,042,000 1,326,000 959,250 1,287,000    957,000 1,152,000 1,038,000 1,048,750 1,404,000 1,497,000 1,294,000 1,150,000 1,580,000 1,604,000 1,416,000 1,465,000 1,421,000 1,284,000 842,000 1,078,000 1,202,000 1,088,000 815,500 1,166,000 1,036,000 1,060,000  
  software and subscriptions5,166,000 5,027,000 4,847,000 4,736,000 4,475,000 4,094,000                                                 
  fdic assessment2,373,000 2,988,000 2,588,000 2,628,000 2,694,000 2,982,000 3,942,000 2,727,000 2,674,000 2,610,000 1,726,000 1,677,000 1,743,000 1,805,000 1,175,000 980,000 775,000 1,050,000 985,000 1,034,000 503,000    778,000 616,000 560,000 725,000 1,225,000 775,000 830,000 736,000 691,000 778,000 1,303,000 1,352,000 1,271,000 1,321,000 1,320,000 1,267,000 3,852,000 536,000             
  debit card expense1,984,000 1,935,000 1,936,000 614,000 1,602,000 2,478,000 2,296,000 2,319,000 2,217,000 2,171,000 2,108,000 1,936,000 1,861,000 1,765,000 1,451,000 1,347,000           1,024,000 755,000                           
  advertising1,797,000    1,826,000          737,250 884,000                                       
  amortization of intangible assets1,197,000 1,344,000 1,417,000 1,460,000 1,465,000 1,563,000 1,635,000 1,712,000 1,716,000 1,815,000 1,854,000 1,898,000 1,902,000 2,001,000 1,678,000 1,310,000                                       
  consulting expense1,018,000  2,271,000 1,429,000 1,997,000 1,428,000 2,189,000 2,753,000 1,935,000 2,077,000 2,560,000 2,547,000 2,760,000 1,750,000 2,828,000 1,560,000 1,492,000 2,391,000 1,743,000 1,305,000 1,603,000 1,336,000 1,962,000 1,338,000 1,384,000  918,000 1,128,000 475,000 691,000 583,000 945,000 685,000  923,000 803,000 483,000 313,000 535,000 474,000 496,000 447,000 411,000 444,000           
  merger and acquisition expense2,239,000 1,155,000            7,100,000 37,166,000 1,943,000 1,731,000       705,000 24,696,000 1,032,000 8,046,000 2,688,000                           
  other noninterest expenses14,227,000 14,997,000 16,294,000 14,224,000 13,516,000 14,218,000 15,113,000 15,425,000 14,989,000 14,715,000 14,587,000 14,890,000 16,229,000 14,130,000 10,022,000 9,905,000 13,069,000 12,052,000 10,995,000 9,990,000 12,500,000 11,060,000 8,089,000 11,619,000 11,177,000 10,712,000 13,499,000 8,225,000                           
  total noninterest expenses108,798,000 105,878,000 106,422,000 100,443,000 99,614,000 99,887,000 100,748,000 97,782,000 95,555,000 98,661,000 94,872,000 92,728,000 90,562,000 95,500,000 117,126,000 72,419,000 73,302,000 69,682,000 73,727,000 66,658,000 66,607,000 66,840,000 67,445,000 67,533,000 93,032,000 56,311,000 64,391,000 55,439,000 59,239,000 40,052,000 36,999,000                        
  income before income taxes65,806,000 57,166,000 62,931,000 55,309,000 66,392,000 62,495,000 70,916,000 80,141,000 82,748,000 81,329,000 100,285,000 95,068,000 82,197,000 70,204,000 -1,121,000 54,129,000 50,019,000 53,648,000 45,184,000 46,072,000 32,681,000 28,899,000 61,845,000 68,881,000 40,635,000 46,747,000 38,192,000 42,984,000 22,534,000 15,288,000 12,112,000 15,417,000 16,566,000 15,212,000 15,389,000 14,811,000 10,245,000 12,022,000 11,656,000 8,627,000 1,299,000 8,155,000 12,120,000 7,785,000 8,629,000 9,628,000 10,484,000 7,622,000 9,438,000 11,696,000 12,375,000 12,035,000 11,506,000  
  benefit from income taxes14,705,000 12,742,000 12,897,000 12,362,000 15,062,000 14,725,000 16,113,000 19,333,000 20,104,000 20,082,000 23,242,000 23,171,000 20,421,000 17,107,000 -2,823,000 14,122,000 12,447,000 11,937,000 10,543,000 11,199,000 7,779,000 2,148,000 14,368,000 17,036,000 10,007,000 11,522,000 8,258,000 9,969,000 4,938,000 3,687,000 3,238,000 4,248,000 4,607,000 4,092,000 3,551,000 3,666,000 2,215,000 2,795,000 2,555,000 1,786,000 639,000 1,767,000 3,305,000 1,965,000 2,321,000 1,898,000 2,172,000 1,908,000 2,812,000 3,594,000 3,819,000 3,745,000 3,602,000  
  net income51,101,000 44,424,000 50,034,000 42,947,000 51,330,000 47,770,000 54,803,000 60,808,000 62,644,000 61,247,000 77,043,000 71,897,000 61,776,000 53,097,000 1,702,000 40,007,000 37,572,000 41,711,000 34,641,000 34,873,000 24,902,000 26,751,000 47,477,000 51,845,000 30,628,000 35,225,000 29,934,000 33,015,000 17,596,000 11,601,000 8,874,000 11,169,000 11,959,000 11,120,000 11,838,000 11,145,000 8,030,000 9,227,000 9,101,000 6,841,000 660,000 6,388,000 8,815,000 5,820,000 6,308,000 7,730,000 8,312,000 5,714,000 6,626,000 8,102,000 8,556,000 8,290,000 7,904,000  
  yoy-0.45% -7.00% -8.70% -29.37% -18.06% -22.00% -28.87% -15.42% 1.41% 15.35% 4426.62% 79.71% 64.42% 27.30% -95.09% 14.72% 50.88% 55.92% -27.04% -32.74% -18.70% -24.06% 58.61% 57.03% 74.06% 203.64% 237.32% 195.59% 47.14% 4.33% -25.04% 0.22% 48.93% 20.52% 30.07% 62.91% 1116.67% 44.44% 3.24% 17.54% -89.54% -17.36% 6.05% 1.86% -4.80% -4.59% -2.85% -31.07% -16.17%      
  qoq15.03% -11.21% 16.50% -16.33% 7.45% -12.83% -9.88% -2.93% 2.28% -20.50% 7.16% 16.38% 16.35% 3019.68% -95.75% 6.48% -9.92% 20.41% -0.67% 40.04% -6.91% -43.65% -8.43% 69.27% -13.05% 17.68% -9.33% 87.63% 51.68% 30.73% -20.55% -6.61% 7.54% -6.07% 6.22% 38.79% -12.97% 1.38% 33.04% 936.52% -89.67% -27.53% 51.46% -7.74% -18.40% -7.00% 45.47% -13.76% -18.22% -5.31% 3.21% 4.88%   
  net income margin %                                                      
  basic earnings per share1.2 1.04 1.18 1.01 1.21 1.12 1.26 1.38 1.42 1.36 1.68 1.57 1.32 1.12 -0.14 1.21 1.14 1.26 1.05 1.06 0.76 0.78 1.38 1.51 0.89 1.25 1.08 1.2 0.67 0.54 0.41 0.52 0.56 0.52 0.55 0.53  0.44 0.45 0.33 -0.19 0.32 0.54 0.36 0.44 0.56 0.6 0.41 0.46 0.55 0.58 0.55 0.52  
  diluted earnings per share1.2 1.04 1.18 1.01 1.21 1.12 1.26 1.38 1.42 1.36 1.69 1.57 1.32 1.12 -0.14 1.21 1.14 1.26 1.05 1.06 0.76 0.78 1.39 1.51 0.89 1.25 1.08 1.2 0.67 0.53 0.41 0.52 0.56 0.52 0.55 0.53  0.44 0.45 0.33 -0.19 0.32 0.54 0.36 0.44 0.55 0.6 0.4 0.45 0.54 0.58 0.55 0.51  
  weighted-average common shares42,623,978 42,550,274 42,499,492 42,481,441 42,468,658 42,553,714 44,181,540 44,135,487 44,129,152 45,004,100 46,372,051 45,839,555 46,665,101 47,366,753 34,872,034 33,043,716 33,033,578 32,995,332 33,259,643 32,951,918 32,944,761 34,184,431 32,810,433 34,361,176 34,313,492 28,106,184 27,592,380 27,537,841 23,011,814 21,654,188 21,623,827 21,422,757 21,463,714 21,441,864 21,178,117 21,034,165 21,055,645 20,937,589 19,642,965 20,921,635 20,360,046 16,285,955 16,275,442 16,268,009 14,386,845 14,033,257 13,787,598 14,101,468 14,466,489 14,938,095 14,696,065 14,999,127 15,343,807  
  common share equivalents17,153 22,353 2,707 11,622 4,308 12,876 -844 11,417 7,573 19,564 717 16,856 14,096 20,711 -1,754 15,554 21,270 30,098 -2,225 24,758 28,098 36,827 385 39,390 41,878 54,466 -1,168 63,499 45,464 52,116 20,377 -3,622 13,077 39,159 18,634 52,793 90,939 70,833 6,545.25 48,254 25,563 17,881 62,738 78,740 73,133 33,678.75 112,455 129,796 163,984 41,431.25 178,433    
  cash dividends declared per common share0.59 0.59 0.57 0.57 0.57 0.57 0.55 0.55 0.55 0.55 0.55 0.51 0.51 0.51 0.48 0.48 0.48 0.48 0.46 0.46 0.46 0.46 0.44 0.44 0.44 0.44 0.38 0.38 0.25 0.21 0.21                        
  other comprehensive income, net of tax                                                      
  net change in fair value of securities available for sale9,835 16,394 -11,927 28,286 3,392 -3,008 34,730 -7,921 -11,451 17,068 9,882 -42,582 -23,734 -62,556 -2,969.5 -7,897 3,793 -7,774    9,347    4,729                             
  net change in fair value of cash flow hedges2,329 3,456 -2,287 8,753 1,735 -1,488 11,138 202 -5,448 10,163 1,976 -27,144 -7,649 -17,950 -2,889.75 -3,383 -1,593 -6,583    22,984    3,285                             
  net change in other comprehensive income for defined benefit postretirement plans-45 -45 1,409 -16 -14 -15 51 -92 -91 -92 4,127 121 121 121 327.25 280 210 819    -772    40                             
  total other comprehensive income12,119 19,805 -12,805 37,023 5,113 -4,511 45,919 -7,811 -16,990 27,139   -31,262 -80,385 -5,532 -11,000 2,410 -13,538    31,559    8,054                             
  total comprehensive income63,220 64,229 37,229 79,970 56,443 43,259 100,722 52,997 45,654 88,386 93,028 2,292 30,514 -27,288 24,290.5 29,007 39,982 28,173    58,310    43,279                             
  investment management      9,818,000 10,246,000 10,348,000 9,779,000 10,394,000 8,436,000 9,329,000 8,673,000 8,958,000 9,174,000 8,872,000 8,304,000 7,736,000 7,571,000 7,296,000 6,829,000 7,630,000 7,188,000 7,153,000 6,748,000 6,627,000 6,564,000 5,719,000 3,723,000 3,827,000 3,222,000 3,491,000 3,603,000                     
  software maintenance      3,708,000 3,324,000 3,134,000 2,949,000 3,255,000 2,497,000 2,645,000 2,564,000 2,246,000 2,018,000 1,915,000 1,970,000 2,046,000 1,753,000 1,780,000 1,685,000 1,598,000 1,385,000 1,363,000 1,165,000 1,154,000 1,079,000       503,000 497,000  495,000 469,000 484,000  443,000             
  benefit from (release of) credit losses        5,000,000 7,250,000 250,000 3,000,000                                           
  total other comprehensive loss          -45,313 -69,605                                           
  release of benefit from credit losses                                                      
  (release of) benefit from credit losses             -2,000,000                                         
  unrealized gain on equity securities              180,750  436,000    1,386,000                                  
  loss on termination of derivatives                   684,000                                   
  core deposit amortization                1,293,000 1,392,000 1,410,000 1,428,000 1,433,000 1,531,000 1,549,000 1,567,000 1,572,000                              
  unrealized loss on equity securities                     1,799,000                                 
  advertising expense                  1,151,000 1,215,000 787,000 1,105,000 1,532,000 1,417,000 1,282,000 1,213,000 1,258,000 1,395,000 869,500 1,267,000 1,473,000 629,000 703,000 1,606,000 472,000 469,000 789,000 441,000 772,000 232,000 741,000 455,000 366,000 604,000 536,000          
  loss on sale of securities                        1,462,000                              
  benefit from loan losses                      4,000,000  1,000,000 1,000,000 1,200,000 1,075,000 -3,506,000 3,606,000 8,500,000 3,800,000 2,000,000 3,482,000 3,574,000 3,500,000 6,931,000 4,650,000 4,424,000 4,443,000 4,468,000 4,000,000 2,068,000 1,902,000 1,342,000 1,355,000 300,000 584,000 891,000 705,000 530,000 350,000 750,000  
  net interest income after benefit from loan losses                      95,993,000 104,598,000 105,019,000 81,525,000 79,092,000 75,159,000 58,764,000 39,232,000 34,128,000 38,056,000 39,674,000 38,594,000 37,813,000 37,697,000 34,236,000 35,560,000 36,274,000 36,465,000 34,632,000 25,989,000 29,047,000 28,185,000 24,423,000 23,136,000 23,970,000 22,849,000 23,098,000 24,006,000 25,299,000 25,459,000 25,556,000  
  gain on sale of equity securities                          1,500 4,000                           
  legal fees                          521,000 752,000 399,500 503,000 447,000                        
  loss on sale of equity securities                                                      
  interest income:                                                      
  interest on loans                            32,785,500 44,251,000 43,813,000 43,533,000 43,763,000 43,938,000 43,797,000 44,436,000 44,785,000 44,047,000 45,637,000 45,773,000 45,100,000 35,946,000 39,201,000 38,657,000 35,168,000 34,033,000 33,871,000 33,788,000 33,700,000 34,870,000 34,732,000 34,082,000 32,703,000  
  interest on federal funds sold                            115,000 34,000 19,000 82,000 49,000 14,000                     
  interest expense:                                                      
  noninterest income:                                                      
  service charges on deposit accounts                            2,942,750 3,959,000 3,923,000 4,254,000 4,223,000 4,192,000 5,531,000 4,441,000 4,515,000 4,221,000 4,542,000 4,613,000 4,258,000 3,648,000 4,083,000 3,963,000 3,635,000 3,719,000 3,754,000 3,531,000 3,409,000 3,581,000 3,669,000 3,565,000 3,418,000  
  proceeds from life insurance policies                            326,750 1,307,000                         
  net gain on sales of securities                                                      
  gross change on otti securities                            142,750 403,000 -106,000                        
  less: portion of otti losses recognized in oci                            -161,750 -403,000 30,000                        
  net impairment losses recognized in earnings on securities                            -19,000  -76,000                        
  noninterest expenses:                                                      
  goodwill impairment                            556,750 2,227,000                         
  data processing & facilities management                            1,330,000 1,144,000 1,099,000                        
  merger and acquisition expenses                            316,750 595,000 672,000                        
  telecommunications                            440,750 479,000 666,000                        
  other non-interest expenses                            5,434,500 7,449,000 7,096,000                        
  foreclosure expenses                              124,000   594,000                     
  non-taxable interest and dividends on securities                               45,000 78,000 95,000 120,000 164,000 187,000 202,000 203,000 218,000 222,000 304,000 366,000 474,000 478,000 505,000 527,000 542,000 564,000 585,000 604,000 662,000 670,000  
  non-interest income                                                      
  bank owned life insurance income                               580,750 757,000 860,000 588,250 901,000 731,000 721,000 531,500 713,000 683,000 729,000 659,000 637,000 520,000 353,250 498,000 427,000       
  net gain on sales of securities available for sale                               180,750  723,000                     
  gross change on write-down of certain investments to fair value                               -48,000 -318,000 170,000    180,000                 
  less: portion of other-than-temporary impairment losses recognized in other comprehensive income                               -76,250 290,000                      
  net income on write-down of certain investments to fair value                               -39,000 -28,000 -136,000   -84,000 -178,000 -2,164,000 -5,141,000 -1,653,000              
  other non-interest income                               1,135,500 960,000 1,575,000 3,053,000 2,021,000 1,484,000 1,558,000 2,832,000 1,578,000 1,476,000 1,231,000 1,245,000 838,000 902,000 1,000,000 969,000 1,081,000 1,307,000 898,000 937,000 797,000 769,000  
  total non-interest income                               9,596,500 12,315,000 13,474,000 14,263,000 11,654,000 10,938,000 10,050,000 10,030,000 4,466,000 13,223,000 10,473,000 8,532,000 7,662,000 8,238,000 8,499,000 7,720,000 8,039,000 7,792,000 5,953,000 7,049,000 7,222,000 6,334,000  
  non-interest expense                                                      
  oreo valuation write-off                               365,250 656,000                      
  legal                               411,750 580,000 647,000 643,750 720,000 1,052,000 803,000 476,500 703,000 728,000              
  telephone                               396,000 522,000 534,000 397,750 513,000 532,000 546,000 455,000 779,000 572,000 468,000 389,000 431,000           
  other non-interest expense                               4,747,500 5,759,000 7,106,000 4,316,000 5,151,000 6,251,000 5,776,000 3,745,250 5,032,000 6,449,000 4,440,000 4,909,000 6,606,000 4,840,000 3,933,000 4,630,000 6,444,000 4,658,000 3,546,750 4,341,000 5,012,000 4,747,000  
  total non-interest expense                               27,190,000 35,423,000 36,856,000 25,764,500 34,540,000 34,929,000 33,588,000 26,791,750 32,304,000 46,556,000 28,307,000 25,459,000 28,062,000 24,032,000 16,481,250 21,206,000 23,266,000 21,452,000 15,272,750 19,973,000 20,646,000 20,384,000  
  less: non-credit related other-than-temporary impairment                                 -306,000    -358,000 -2,166,000 -33,000 521,000              
  gain on other real estate owned and foreclosed assets                                 528,000                     
  fair value mark on a terminated hedging relationship                                    554,000                  
  wealth management                                  2,955,000 2,851,000 3,189,000 2,728,000 2,729,000 2,278,000 2,710,000 2,330,000 2,764,000 3,114,000 2,676,000 2,240,000 1,876,000 2,180,000       
  net gain/(loss) on sales of securities available for sale                                  114,500 -22,000 481,000  338,750   1,379,000             
  gain resulting from early termination of hedging relationship                                        3,778,000              
  other-than-temporary impairment losses on available-for-sale debt securities:                                                      
  gross gain/(loss) on write-down of certain investments to fair value                                  81,250 207,000 -63,000                  
  add/(less): portion of other-than-temporary impairment recognized in other comprehensive income                                  -148,500 -214,000                   
  net impairment losses recognized in earnings on available-for sale debt securities                                  -67,250 -7,000                   
  merger & acquisition expenses                                      3,105,750 41,000 10,844,000 1,538,000  376,000 744,000          
  preferred stock dividend                                        4,525,000 1,173,000             
  net income available to common shareholders                                  11,838,000 11,145,000  9,227,000 9,101,000 6,841,000 -3,865,000 5,215,000             
  weighted avearge common shares                                   20,981,372 20,964,706                  
  add/(less): non-credit related other-than-temporary impairment                                    -21,000                  
  net income/(loss) available to common shareholders                                    8,030,000                  
  basic earnings/(loss) per share                                    0.38                  
  diluted earnings/(loss) per share                                    0.38                  
  gross loss on write-down of certain investments to fair value                                      2,000 -5,108,000 -2,174,000              
  net (loss)/gain on sales of securities available for sale                                        -25,000              
  worldcom bond loss recovery                                            -418,000          
  net income on sales of securities available for sale                                            -609,000          
  loss on write-down of certain investments to fair value                                          -720,000 -1,850,000           
  net (loss) on sales of securities available for sale                                                      
  investment management services income                                                1,814,000 1,124,250 1,438,000 1,704,000 1,355,000  
  boli income                                                488,000 530,000 479,000 506,000 1,743,000  
  net (loss) on sales of securities                                                      
  total interest income                                                 42,976,000 42,809,000 41,207,000 40,701,000  
  net gain/(loss) on sales of securities                                                 -442,250     
  common stock equivalents                                                   162,747 153,624  
  net (loss)/gain on sales of securities                                                    -1,769,000  

We provide you with 20 years income statements for Independent Bank Corp stock, allowing you to gain comprehensive visibility into the fundamentals of the company. Our detailed breakdowns include key financial metrics such as earnings, sales and marketing expenses, research and development costs, profits, and profit margins. This in-depth information is essential for making informed investment decisions and understanding the financial health and performance of Independent Bank Corp stock. Explore the full financial landscape of Independent Bank Corp stock with our expertly curated income statements.

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