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Independent Bank Corp  (INDB)
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    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 

Independent Bank Corp Income Statement Quarterly

INDB


Select the Financial Report:   Period:   Fiscal Year:

INCOME STATEMENT
(Quarterly GAAP In millions $)

(Dec 31 2023)
IV. Quarter
(Sep 30 2023)
III. Quarter
(Jun 30 2023)
II. Quarter
(Mar 31 2023)
III. Quarter
(Dec 31 2022)
IV. Quarter
Interest and Fee Income, Loans and Leases 192.18 187.15 179.76 170.93 164.05
Interest Income, Securities, Operating, Taxable 14.63 14.82 15.58 15.31 15.79
Interest Income, Federal Funds Sold 0.30 0.91 3.31 0.67 4.16
Other Income 0.06 0.06 0.04 0.03 0.12
Total Interest Income 207.17 202.93 198.69 186.94 184.13
Interest Expense, Deposits 49.46 40.71 31.91 22.68 14.33
Interest Expense, Borrowings 12.62 12.34 14.24 5.26 1.45
Other Intrest Expenses -4.40 1.92 0.18 0.01 -1.89
Total Interest Expense 6.88 - - - 7.66
Total Interest Expense 62.07 53.05 46.15 27.94 15.77
Net Interest Income 145.10 149.88 152.55 159.00 168.36
Provision for loan losses 5.50 5.50 5.00 7.25 5.50
Total Net Interest Income 139.60 144.38 147.55 151.75 162.86
Investment Banking, Advisory, Brokerage, and Underwriting Fees and Commissions 9.82 10.25 10.35 9.78 10.39
Profit (Loss) from Real Estate Operations - - - - -
Other Noninterest Income 7.80 7.07 6.36 5.78 3.40
Available For Sale Securities Fixed Income Gross Realized Gains - - - - -
Available For Sale Securities Equity Gross Realized Gains - - - - -
Taxable Interest And Dividends On Securities - - - - -
Non Taxable Interest And Dividends On Securities 0.00 0.00 0.00 0.00 -
Service Charges On Deposit Accounts 6.13 5.94 5.51 5.92 -
Interchange And Atm Fees 4.64 4.81 4.48 4.18 -
Fees And Commission Mortgage Banking 0.61 0.74 0.67 0.31 -
Derivative Gain Loss On Derivative Net 0.80 0.84 1.28 0.41 -
Derivative Instruments Gain Loss Recognized In Income Net - - - - -
Proceeds From Death Benefits On Life Insurance Policies - - - - -
Other Non-Interest Income -0.03 1.59 -0.10 -0.31 16.40
Debit Card Expense 2.30 2.32 2.22 2.17 2.11
Total Noninterest Income 32.07 33.54 30.76 28.24 32.30
Total Revenues 171.66 177.92 178.30 179.99 195.16
Salaries & employee benefits, SGA 56.39 54.80 53.98 56.98 53.75
Depriciation & Amortization -5.24 1.71 1.72 1.82 -5.80
Foreclosed Real Estate Expense - - - - -
Communications, Occupancy and Information Technology 13.05 12.32 12.39 12.82 7.97
Professional Fees 2.19 2.75 1.94 2.08 2.56
Policyholder Benefits and Claims Incurred, Net - - - - -
Equipment, Postage and Supplies Net - - - - -
Federal Deposit Insurance Corporation Premium Expense 3.94 2.73 2.67 2.61 1.73
Other Noninterest Expense 15.11 15.43 14.99 14.72 14.59
Software Maintenance 3.71 3.32 3.13 2.95 3.26
Other loss/ -income 11.60 4.72 4.75 4.70 16.82
Total Operating Expenses 100.75 97.78 95.56 98.66 94.87
Total Costs & Expenses 162.82 150.83 141.70 126.60 110.64
Income /-loss before income taxes 70.92 80.14 82.75 81.33 100.29
Income taxes expenses/-benefit 75.63 - - - 83.94
Income after income taxes 54.80 60.81 62.64 61.25 77.04
Net income/-loss of other equity 59.52 -19.33 -20.10 -20.08 60.70
Income /-loss after income taxes 54.80 60.81 62.64 61.25 77.04
Noncontrolling Interests - - - - -
Discontinued Operations - - - - -
Extraordinary Items - - - - -
Net Income/-loss 54.80 60.81 62.64 61.25 77.04
   Noncontrolling interests - - - - -
   Prefered dividends - - - - -
   Other - - - - -
Income/-loss to shareholder 54.80 60.81 62.64 61.25 77.04


Per Share (GAAP Quarterly, in $) (Dec 31 2023)
IV. Quarter
(Sep 30 2023)
III. Quarter
(Jun 30 2023)
II. Quarter
(Mar 31 2023)
III. Quarter
(Dec 31 2022)
IV. Quarter
Basic EPS (excl. extra items) 1.26 1.38 1.42 1.36 1.69
   Extraordinary items 0.00 0.00 0.00 0.00 0.00
Basic Net EPS 1.26 1.38 1.42 1.36 1.69
Basic shares outstanding (Mill. of Units) 43.46 44.14 44.13 45.00 45.62
   EPS other shares - - - - -
Diluted Net EPS 1.26 1.38 1.42 1.36 1.32
Diluted average shares (Mill. of Units) 44.19 44.15 44.14 45.02 46.36
Dividend per share 0.55 0.55 0.55 0.55 0.55



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