INDB
Income statement / Annual
Last year (2023), Independent Bank Corp.'s total revenue was $795.73 M,
an increase of 9.32% from the previous year.
In 2023, Independent Bank Corp.'s net income was $239.50 M.
See Independent Bank Corp.’s key income statements, including revenue, expenses, profit, and income.
| Period |
FY-2023
|
FY-2022
|
FY-2021
|
FY-2020
|
FY-2019
|
FY-2018
|
FY-2017
|
FY-2016
|
FY-2015
|
FY-2014
|
| Period Ended |
12/31/2023 |
12/31/2022 |
12/31/2021 |
12/31/2020 |
12/31/2019 |
12/31/2018 |
12/31/2017 |
12/31/2016 |
12/31/2015 |
12/31/2014 |
| Operating Revenue |
$795.73 M
|
$727.92 M
|
$507.41 M
|
$477.45 M
|
$508.43 M
|
$386.67 M
|
$341.84 M
|
$310.24 M
|
$289.59 M
|
$264.86 M
|
| Cost of Revenue |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$3.43 M |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
| Gross Profit |
$795.73 M |
$727.92 M |
$507.41 M |
$477.45 M |
$508.43 M |
$383.24 M |
$341.84 M |
$310.24 M |
$289.59 M |
$264.86 M |
| Gross Profit Ratio |
1 |
1 |
1 |
1 |
1 |
0.99 |
1 |
1 |
1 |
1 |
| Research and Development
Expenses |
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
| General & Administrative
Expenses |
$234.09 M
|
$211.66 M
|
$183.47 M
|
$161.25 M
|
$157.08 M
|
$132.23 M
|
$124.66 M
|
$116.99 M
|
$113.68 M
|
$102.58 M
|
| Selling & Marketing
Expenses |
$273.32 M
|
$0.00
|
$4.09 M
|
$4.26 M
|
$5.44 M
|
$4.94 M
|
$4.99 M
|
$5.20 M
|
$4.65 M
|
$3.86 M
|
| Selling, General &
Administrative Expenses |
$234.09 M
|
$211.66 M
|
$183.47 M
|
$161.25 M
|
$157.08 M
|
$132.23 M
|
$124.66 M
|
$116.99 M
|
$113.68 M
|
$102.58 M
|
| Other Expenses |
-$480.59 M |
-$601.03 M |
-$534.20 M |
-$485.86 M |
-$447.40 M |
-$343.15 M |
-$313.62 M |
-$296.36 M |
-$290.48 M |
-$263.28 M |
| Operating Expenses |
-$480.59 M |
-$389.37 M |
-$350.73 M |
-$324.62 M |
-$290.32 M |
-$201.78 M |
-$188.96 M |
-$179.37 M |
-$176.80 M |
-$160.70 M |
| Cost And Expenses |
-$480.59 M |
-$389.37 M |
-$350.73 M |
-$324.62 M |
-$290.32 M |
-$201.78 M |
-$188.96 M |
-$179.37 M |
-$176.80 M |
-$160.70 M |
| Interest Income |
$124.61 M |
$642.84 M |
$415.28 M |
$402.07 M |
$447.01 M |
$323.70 M |
$277.19 M |
$246.64 M |
$235.55 M |
$216.46 M |
| Interest Expense |
$189.21 M |
$29.59 M |
$13.72 M |
$34.34 M |
$53.88 M |
$25.54 M |
$18.33 M |
$18.79 M |
$20.62 M |
$20.42 M |
| Depreciation &
Amortization |
$25.78 M
|
$26.06 M
|
$18.22 M
|
$19.00 M
|
$18.20 M
|
$11.80 M
|
$12.00 M
|
$10.10 M
|
$12.29 M
|
$11.01 M
|
| EBITDA |
$315.13 M
|
$377.35 M
|
$189.50 M
|
$180.10 M
|
$237.55 M
|
$197.46 M
|
$168.56 M
|
$145.22 M
|
$125.08 M
|
$115.17 M
|
| EBITDA Ratio |
0.4 |
0.52 |
0.37 |
0.38 |
0.47 |
0.51 |
0.49 |
0.47 |
0.43 |
0.43 |
| Operating Income Ratio
|
0.4
|
0.47
|
0.31
|
0.32
|
0.43
|
0.47
|
0.45
|
0.42
|
0.39
|
0.39
|
| Total Other
Income/Expenses Net |
$315.13 M
|
$9.21 M
|
$156.68 M
|
$152.84 M
|
$218.11 M
|
-$25.54 M
|
-$18.33 M
|
-$18.79 M
|
-$20.62 M
|
-$20.42 M
|
| Income Before Tax |
$315.13 M |
$347.75 M |
$156.68 M |
$152.84 M |
$218.11 M |
$155.93 M |
$134.55 M |
$112.08 M |
$92.18 M |
$83.74 M |
| Income Before Tax Ratio
|
0.4
|
0.48
|
0.31
|
0.32
|
0.43
|
0.4
|
0.39
|
0.36
|
0.32
|
0.32
|
| Income Tax Expense |
$75.63 M |
$83.94 M |
$35.68 M |
$31.67 M |
$52.93 M |
$34.30 M |
$47.34 M |
$35.43 M |
$27.22 M |
$23.90 M |
| Net Income |
$239.50 M |
$263.81 M |
$120.99 M |
$121.17 M |
$165.18 M |
$121.62 M |
$87.20 M |
$76.65 M |
$64.96 M |
$59.85 M |
| Net Income Ratio |
0.3 |
0.36 |
0.24 |
0.25 |
0.32 |
0.31 |
0.26 |
0.25 |
0.22 |
0.23 |
| EPS |
5.42 |
5.69 |
3.47 |
3.64 |
5.03 |
4.41 |
3.19 |
2.9 |
2.51 |
2.5 |
| EPS Diluted |
5.42 |
5.69 |
3.47 |
3.64 |
5.03 |
4.4 |
3.19 |
2.9 |
2.5 |
2.49 |
| Weighted Average Shares
Out |
$44.18 M
|
$46.37 M
|
$34.87 M
|
$33.26 M
|
$32.81 M
|
$27.59 M
|
$27.29 M
|
$26.40 M
|
$25.89 M
|
$23.90 M
|
| Weighted Average Shares
Out Diluted |
$44.19 M
|
$46.39 M
|
$34.89 M
|
$33.29 M
|
$32.86 M
|
$27.65 M
|
$27.37 M
|
$26.46 M
|
$25.96 M
|
$23.99 M
|
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