Morsa Images With a market capitalization as of this writing of $2.25 billion, Independent Bank (NASDAQ:INDB) is not exactly a small bank. But it's certainly not a large one either. Over the past couple of years, the company has posted some mixed results. Those mixed results have extended into the 2024 fiscal year. Admittedly, the past couple of years have been difficult for the banking sector, driven in part by a banking crisis that began in March of 2023. In addition to this, economic conditions have crea ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ___________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-9047 Independent Bank Corp. (Exact name of registrant as specified in ...

Independent Bank Corp. (NASDAQ:INDB) Q1 2024 Earnings Call Transcript April 19, 2024 10:00 AM ET Company Participants Jeff Tengel - Chief Executive Officer Mark Ruggiero - Chief Financial Officer and Head of Consumer Lending Conference Call Participants Mark Fitzgibbon - Piper Sandler Steve Moss - Raymond James Laurie Hunsicker - Seaport Research Chris O'Connell - KBW Operator Good day, and welcome to the INDB Independent Bank First Quarter 2024 Earnings Conference Call. All participants will be in listen-o ...

For the quarter ended March 2024, Independent Bank Corp. (INDB) reported revenue of $167.38 million, down 10.6% over the same period last year. EPS came in at $1.12, compared to $1.36 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $171.8 million, representing a surprise of -2.57%. The company delivered an EPS surprise of -2.61%, with the consensus EPS estimate being $1.15.While investors closely watch year-over-year changes in headline numbers -- revenue and earning ...

Independent Bank Corp. (INDB) came out with quarterly earnings of $1.12 per share, missing the Zacks Consensus Estimate of $1.15 per share. This compares to earnings of $1.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -2.61%. A quarter ago, it was expected that this holding company for Rockland Trust would post earnings of $1.25 per share when it actually produced earnings of $1.26, delivering a surprise of 0.80%.Over the ...

Noninterest expense of $99.9 million for the first quarter of 2024 represented a decrease of $860,000, or 0.9%, as compared to the prior quarter. Significant changes in noninterest expense for the first quarter compared to the prior quarter included the following: • FDIC assessment decreased $1.0 million, or 24.4%, from the prior quarter, driven primarily by the FDIC special assessment recognized by the Company. The first quarter provision for credit losses was $5.0 million as compared to $5.5 million for t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or Table of Contents (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (781) 878-6100 Securities registered pursuant to Section 12(b) of the Act: Common Stock, $0.01 par value per share INDB NASDAQ Title of each Class Trading Symbol Nam ...

Independent Bank Corp. (NASDAQ:INDB) Q4 2023 Earnings Conference Call January 19, 2023 10:00 AM ET Company Participants Jeff Tengel - Chief Executive Officer Mark Ruggiero - Chief Financial Officer and Head of Consumer Lending Conference Call Participants Operator Good day and welcome to the INDB Fourth Quarter 2023 Earning Conference Call. All participants’ will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instruction ...

For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ___________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-9047 Independent Bank Corp. (Exact name of registrant as specified ...

10 Net Interest Margin Analysis Quarter Cumulative INDEDEKIDENT Quarter Cumulative 12 Month Margin Outlook* | --- | --- | --- | |---------------------|-------|-----------------------------------------------------------------------------------------------| | Loans | • | Overall loan balances expected to increase modestly in 2023 Q4 | | Deposits | • | Deposit balances expected to remain flat or decrease slightly due to seasonality | | Borrowings | • | Balances expected to fluctuate based on loan, deposit and ...