Independent Bank Corp. (INDB) financial statements (2021 and earlier)

Company profile

Business Address 288 UNION STREET
ROCKLAND, MA 02370
State of Incorp. MA
Fiscal Year End December 31
SIC 6022 - State Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments174271214290276178 
Cash and cash equivalents151250213289276178 
Short-term investments2321110  
Disposal group, including discontinued operation     7 
Total current assets:174271214290276185 
Noncurrent Assets
Operating lease, right-of-use asset57
Property, plant and equipment124989578766465
Intangible assets, net (including goodwill)535271241231213180183
Goodwill506256232222201170170
Intangible assets, net (excluding goodwill)2915910121012
Amortization method qualified affordable housing project investments7334354038
Total noncurrent assets:788403371349327244248
Other undisclosed assets10,4328,1787,4967,0706,6075,9355,852
TOTAL ASSETS:11,3958,8528,0827,7097,2106,3656,099
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt501472155052148154
Total current liabilities:501472155052148154
Noncurrent Liabilities
Long-term debt and lease obligation187111108108108189154
Long-term debt, excluding current maturities187111108108108189154
Liabilities, other than long-term debt35451215  
Qualified affordable housing project investments, commitment35451215
Total noncurrent liabilities:222115112120123189154
Other undisclosed liabilities9,4157,5166,8116,6756,2635,3885,200
Total liabilities:9,6877,7787,1386,8456,4395,7245,508
Stockholders' equity
Stockholders' equity attributable to parent, including:1,7081,073944865771641592
Common stock0000000
Additional paid in capital1,035528479452405312305
Deferred compensation equity   444 
Accumulated other comprehensive income (loss)18(1)(2)(1)(2)(2)(7)
Retained earnings654547466414368330294
Other undisclosed stockholders' equity attributable to parent   (4)(4)(4) 
Total stockholders' equity:1,7081,073944865771641592
TOTAL LIABILITIES AND EQUITY:11,3958,8528,0827,7097,2106,3656,099

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues447324301247236220 
Net investment income447324277226215198 
Cost of revenue(12)(5)(3)(6)(2)(10)(10)
Cost of goods and services sold(6)      
Provision for loan, lease, and other losses(6)(5)
Financial services costs(3)(6)(2)(10)(10)
Gross profit:435319298241235209(10)
Operating expenses(77)(52)(159)(151)(152)(149)(120)
Other operating income, net
(Noninterest Income, Other Operating Income)
2113119988
Operating income (loss):3792801501009269(122)
Nonoperating income5444443
Investment income, nonoperating     1 
Losses on sales of other real estate     (1)(1)
Bank owned life insurance income5444433
Interest and debt expense(54)(26)(18)(19)(21)(20)(23)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(112)(102)(2)271732209
Income from continuing operations before income taxes:218156135112928467
Income tax expense(53)(34)(47)(35)(27)(24)(16)
Net income available to common stockholders, diluted:1651228777656050

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:1651228777656050
Other comprehensive income (loss)192(0)1(0)5(3)
Comprehensive income, net of tax, attributable to parent:1851248778656547

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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