INDB Independent Bank Corp.
Independent Bank Corp. operates as a bank holding company. The company provides commercial banking, retail banking, and wealth management services and is engaged in sale of retail investments and insurance products in Massachusetts. It offers deposit products, including demand deposits, interest checking, money market accounts, savings accounts and time certificates of deposit. The company provides real estate loans, which include commercial mortgages that are secured by non-residential properties; residential mortgages that are secured primarily by owner-occupied residences; and mortgages for the construction of commercial and residential properties. Independent Bank was founded in 1985 and is headquartered in Rockland, MA.
Company profile
Ticker
INDB, IBCP
Exchange
Website
CEO
Christopher Oddleifson
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Former names
INDEPENDENT BANK CORP /MA/
SEC CIK
Corporate docs
IRS number
42870273
INDB stock data
()
Calendar
5 Nov 20
22 Jan 21
31 Dec 21
News
Financial summary
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| Annual (USD) | Dec 19 | Dec 18 | Dec 17 | Dec 16 | |
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Financial data from company earnings reports.
Recent insider trades
| Date | Owner | Security | Transaction | Code | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|
| 9 Dec 20 | Miskell Eileen C | Common Stock | Sell | Dispose S | No | 73.49 | 800 | 58.79K | 16,760.673 |
| 8 Dec 20 | Miskell Eileen C | Common Stock | Option exercise | Aquire M | No | 28.875 | 500 | 14.44K | 17,560.673 |
| 8 Dec 20 | Miskell Eileen C | NQ Stock Option Common Stock | Option exercise | Dispose M | No | 28.875 | 500 | 14.44K | 0 |
| 2 Dec 20 | Edward H Seksay | Common Stock | Sell | Dispose S | No | 68.5018 | 1,000 | 68.5K | 13,048 |
| 13 Nov 20 | Christopher Oddleifson | Common Stock | Gift | Dispose G | No | 0 | 1,500 | 0 | 95,065 |
| 29 Oct 20 | OBrien Daniel F | Common Stock | Option exercise | Aquire M | No | 28.875 | 500 | 14.44K | 23,440 |
| 29 Oct 20 | OBrien Daniel F | NQ Stock Option Common Stock | Option exercise | Dispose M | No | 28.875 | 500 | 14.44K | 0 |
Institutional ownership Q3 2020
80.5% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 190 |
| Opened positions | 22 |
| Closed positions | 28 |
| Increased positions | 54 |
| Reduced positions | 71 |
13F shares |
Current |
|---|---|
| Total value | 3.89B |
| Total shares | 26.55M |
| Total puts | 10.58K |
| Total calls | 0 |
| Total put/call ratio | Infinity |
Largest owners |
Shares | Value |
|---|---|---|
| BLK Blackrock | 4.75M | $248.86M |
| Vanguard | 3.26M | $170.85M |
| SAMG Silvercrest Asset Management | 1.61M | $84.27M |
| Champlain Investment Partners | 1.24M | $64.83M |
| Victory Capital Management | 1.2M | $62.8M |
| STT State Street | 1.17M | $61.97M |
| Dimensional Fund Advisors | 1.08M | $56.67M |
| GS Goldman Sachs | 972.43K | $50.94M |
| NTRS Northern Trust | 787.14K | $41.23M |
| MCQEF Macquarie | 773.11K | $40.5M |
Financial report summary
?Competition
VeritexManagement Discussion
- Net income for the third quarter of 2020 was $34.9 million, or $1.06 on a diluted earnings per share basis, and decreased 32.7% and 29.8%, respectively, as compared to $51.8 million, or $1.51 on a diluted earnings per share basis, for the prior year third quarter. Results for the third quarter of 2020 reflected elevated levels of provision for credit losses due to assumptions and expectations surrounding the potential future impact of the COVID-19 pandemic, as well as a lower net interest margin as a result of the lower interest rate environment. The third quarter of 2020 included a loss on the termination of a derivative contract and the third quarter of 2019 included merger and acquisition costs which the Company deems to be noncore. Excluding these noncore items, third quarter 2020 and 2019 operating net income was $35.4 million and $51.7 million, respectively. See "Non-GAAP Measures" below for a reconciliation of non-GAAP measures.
Content analysis
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H.S. sophomore Bad
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New words:
Advertising, alleviate, amusement, beauty, beverage, bowling, broadly, buildup, car, characterized, circumvent, civic, constitute, crossing, diversified, exacerbated, fast, flagged, fuel, funeral, gambling, gasoline, heading, laundry, leisure, light, mobile, pet, repair, spectator, threshold, vaccine, vehicle, withheld, workout
Removed:
Allocate, hereof, percent, surrendering, terminated
Financial reports
10-Q
2020 Q3
Quarterly report
5 Nov 20
10-Q
2020 Q2
Quarterly report
6 Aug 20
10-Q
2019 Q1
Quarterly report
7 May 20
10-K
2019 FY
Annual report
27 Feb 20
10-Q
2019 Q3
Quarterly report
5 Nov 19
10-Q
2019 Q2
Quarterly report
6 Aug 19
10-Q
2019 Q1
Quarterly report
7 May 19
10-K
2018 FY
Annual report
28 Feb 19
10-Q
2018 Q3
Quarterly report
1 Nov 18
10-Q
2018 Q2
Quarterly report
2 Aug 18
Current reports
8-K
Independent Bank Corp. Reports Fourth Quarter Net Income of $34.6 Million
21 Jan 21
8-K
Departure of Directors or Certain Officers
21 Jan 21
8-K
Departure of Directors or Certain Officers
14 Dec 20
8-K
Other Events
10 Dec 20
8-K
Regulation FD Disclosure
10 Nov 20
8-K
Independent Bank Corp. Reports Third Quarter Net Income of $34.9 Million
22 Oct 20
8-K
Other Events
17 Sep 20
8-K
Independent Bank Corp. Reports Second Quarter Net Income of $24.9 Million
23 Jul 20
8-K
Other Events
18 Jun 20
8-K
Submission of Matters to a Vote of Security Holders
21 May 20
Registration and prospectus
S-3ASR
Automatic shelf registration
28 Oct 20
S-4/A
Registration of securities issued in business combination transactions (amended)
7 Dec 18
S-4
Registration of securities issued in business combination transactions
6 Nov 18
425
Business combination disclosure
25 Sep 18
425
Business combination disclosure
24 Sep 18
425
Business combination disclosure
20 Sep 18
425
Business combination disclosure
20 Sep 18
S-3ASR
Automatic shelf registration
16 Aug 18
S-4/A
Registration of securities issued in business combination transactions (amended)
26 Jul 18
S-4
Registration of securities issued in business combination transactions
9 Jul 18
Proxies
DEFA14A
Additional proxy soliciting materials
24 Apr 20
DEF 14A
Definitive proxy
3 Apr 20
DEF 14A
Definitive proxy
28 Mar 19
DEF 14A
Definitive proxy
29 Mar 18
DEF 14A
Definitive proxy
30 Mar 17
DEF 14A
Definitive proxy
30 Mar 16
DEF 14A
Definitive proxy
30 Mar 15
PRE 14A
Preliminary proxy
20 Mar 15
DEFA14A
Additional proxy soliciting materials
5 May 14
DEFA14A
Additional proxy soliciting materials
23 Apr 14
Other
EFFECT
Notice of effectiveness
12 Dec 18
EFFECT
Notice of effectiveness
27 Jul 18
CORRESP
Correspondence with SEC
26 Jul 18
UPLOAD
Letter from SEC
16 Jul 18
EFFECT
Notice of effectiveness
6 Jan 17
CORRESP
Correspondence with SEC
4 Jan 17
UPLOAD
Letter from SEC
19 Dec 16
EFFECT
Notice of effectiveness
20 Jun 16
CORRESP
Correspondence with SEC
16 Jun 16
CORRESP
Correspondence with SEC
14 Jun 16
Ownership
4
INDEPENDENT BANK / David A Powers ownership change
4 Jan 21
4
INDEPENDENT BANK / EILEEN C MISKELL ownership change
9 Dec 20
4
INDEPENDENT BANK / EDWARD H SEKSAY ownership change
3 Dec 20
4
INDEPENDENT BANK / CHRISTOPHER ODDLEIFSON ownership change
16 Nov 20
4
INDEPENDENT BANK / Daniel F OBrien ownership change
2 Nov 20
4
INDEPENDENT BANK / KEVIN J JONES ownership change
25 Aug 20
4
INDEPENDENT BANK / Daniel F OBrien ownership change
18 Aug 20
4
INDEPENDENT BANK / Thomas R Venables ownership change
13 Aug 20
4
INDEPENDENT BANK / KEVIN J JONES ownership change
13 Aug 20
4
INDEPENDENT BANK / Mary L Lentz ownership change
29 May 20