INDB Independent Bank Dashboard

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

NASDAQ

Website

www.rocklandtrust.com

CEO

Christopher Oddleifson

Incorporated

Massachusetts

Location

Massachusetts

Fiscal year end

Dec 31

Sector

Finance and Insurance > Commercial Banking

Industry (SIC)

State Commercial Banks

State Street • Citizens Financial • Northern Trust • M & T Bank • Bank Of New York Mellon • Fifth Third Bancorp • Popular • Associated Banc-Corp. • First Citizens Bancshares, Inc • Commerce Bancshares ...

Former names

INDEPENDENT BANK CORP /MA/

SEC CIK

0000776901

Corporate docs

Articles of Incorporation & Bylaws

IRS number

42870273

INDB stock data

S&P 500

1M 1Y 2Y 5Y

News

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Ex-Dividend Date Insight: Independent Bank

25 Mar 21

Stocks That Hit 52-Week Highs On Friday

12 Mar 21

Before 10 a.m. ET on Friday, 571 companies hit new 52-week highs.

Stocks That Hit 52-Week Highs On Wednesday

10 Mar 21

This morning 270 companies set new 52-week highs.

Stocks That Hit 52-Week Highs On Monday

8 Mar 21

Stocks That Hit 52-Week Highs On Thursday

25 Feb 21

Press releases

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Independent Bank Corp.'s Announcement of Date of First Quarter Conference Call

14 Apr 21

Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, will host its quarterly conference call to discuss first quarter results on Friday, April 23, 2021, at 10:30 AM Eastern Time.

Independent Bank Corp. Announces a 4% Increase in the Quarterly Dividend

18 Mar 21

The Board of Directors of Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced a $0.48 per share dividend. The dividend will be payable on April 9, 2021, to

Independent Bank Corp. CEO Christopher Oddleifson, COO Robert D. Cozzone, CFO Mark J. Ruggiero and Chief Commercial Banking Officer Gerard Nadeau to Participate in the 2021 RBC Capital Markets Global Financials Conference

1 Mar 21

Christopher Oddleifson, President and Chief Executive Officer, Robert D. Cozzone, Executive Vice President and Chief Operating Officer, Mark J. Ruggiero, Chief Financial Officer and Chief Accounting Officer and Gerard

Independent Bank Corp. CEO Christopher Oddleifson, COO Robert D. Cozzone, CFO Mark J. Ruggiero and Chief Commercial Banking Officer Gerard Nadeau to Participate in the 2021 Virtual KBW Winter Financial Services Symposium

1 Feb 21

Independent Bank Corp. (Massachusetts) to Host Earnings Call

22 Jan 21

Calendar

25 Feb 21

18 Apr 21

31 Dec 21

Financial summary

Financial statements Chart INDB financial data

Quarter (USD)	Dec 20	Sep 20	Jun 20	Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 20	Dec 19	Dec 18	Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Recent insider trades

INDB insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
12 Mar 21	Christopher Oddleifson	Common Stock	Payment of exercise	Dispose F	No	No	98.55	1,903	187.54K	100,840
12 Mar 21	Christopher Oddleifson	Common Stock	Grant	Aquire A	No	No	0	5,270	0	102,743
12 Mar 21	Barry H Jensen	Common Stock	Payment of exercise	Dispose F	No	No	98.55	275	27.1K	19,599.893
12 Mar 21	Barry H Jensen	Common Stock	Grant	Aquire A	No	No	0	1,020	0	19,874.893
12 Mar 21	Maria S Harris	Common Stock	Payment of exercise	Dispose F	No	No	98.55	206	20.3K	6,465
12 Mar 21	Maria S Harris	Common Stock	Grant	Aquire A	No	No	0	765	0	6,671
12 Mar 21	Edward H Seksay	Common Stock	Payment of exercise	Dispose F	No	No	98.55	298	29.37K	14,729
12 Mar 21	Edward H Seksay	Common Stock	Grant	Aquire A	No	No	0	1,105	0	15,027
12 Mar 21	Gerard F Nadeau	Common Stock	Payment of exercise	Dispose F	No	No	98.55	573	56.47K	25,311
12 Mar 21	Gerard F Nadeau	Common Stock	Grant	Aquire A	No	No	0	2,125	0	25,884

Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q4 2020

INDB institutional ownership history Ownership history

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

82.7% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	191	188	+1.6%
Opened positions	29	22	+31.8%
Closed positions	26	29	-10.3%
Increased positions	64	54	+18.5%
Reduced positions	63	70	-10.0%

13F shares	Current	Prev Q	Change
Total value	2B	1.39B	+43.4%
Total shares	27.31M	26.55M	+2.8%
Total puts	20.4K	5K	+308.0%
Total calls	8.3K	0	NEW
Total put/call ratio	2.5	Infinity	NaN%

Largest owners	Shares	Value	Change
BLK Blackrock	4.86M	$355.28M	+2.4%
Vanguard	3.34M	$243.63M	+2.3%
SAMG Silvercrest Asset Management	1.68M	$123.01M	+4.7%
Victory Capital Management	1.36M	$99.39M	+13.5%
STT State Street	1.28M	$93.99M	+9.0%
Champlain Investment Partners	1.27M	$92.74M	+2.6%
Dimensional Fund Advisors	1.07M	$77.99M	-1.3%
GS Goldman Sachs	881.6K	$64.39M	-9.3%
MCQEF Macquarie	775.74K	$56.66M	+0.3%
NTRS Northern Trust	771.25K	$56.33M	-2.0%

Largest transactions	Shares	Bought/sold	Change
FMR	176.49K	-453.7K	-72.0%
Norges Bank	367.1K	+367.1K	NEW
Victory Capital Management	1.36M	+161.71K	+13.5%
Eaton Vance Management	411.92K	+151.14K	+58.0%
BLK Blackrock	4.86M	+113.07K	+2.4%
TROW T. Rowe Price	694.17K	+109.64K	+18.8%
STT State Street	1.28M	+105.97K	+9.0%
Boston Trust Walden	253.59K	+102.04K	+67.3%
JHG Janus Henderson	332.88K	-98.5K	-22.8%
GS Goldman Sachs	881.6K	-90.83K	-9.3%

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

Competition

Veritex

Management Discussion

Net income for 2020 computed in accordance with GAAP was $121.2 million, or $3.64 on a diluted earnings per share basis, as compared to $165.2 million, or $5.03 per diluted share, for the prior year. Net income for 2020 and 2019 included items that are considered noncore, which are excluded for purposes of assessing operating earnings. Net operating earnings for 2020 were $121.7 million, or $3.66 on a diluted earnings per share basis, a decrease of 34.1% and 34.9%, respectively, when compared to net operating earnings of $184.6 million, or $5.62 per diluted share, for the year ended December 31, 2019. See "Non-GAAP Measures" below for a reconciliation of net operating earnings and diluted earnings per share to GAAP net income and earnings per share, respectively.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Bad

New words: abided, academic, accomplish, AFLAC, AIC, Aid, alleviate, Alliance, allyship, ambiguity, Amidst, amusement, banker, baseline, beauty, beverage, bowling, brought, buildup, Cambridge, Campaign, car, career, carryback, carryforward, CDC, celebrate, certainty, childcare, Christopher, civic, cleaning, closure, Coast, colleague, College, color, conceptual, consecutive, contrary, Contributor, coordinated, Council, crossing, culture, curbing, curtailing, DCF, deadline, Dental, deny, detrimentally, Disability, disbursed, displayed, distancing, donated, double, Drug, EAD, easier, efficacy, element, enduring, enroll, enrollment, Entertainment, equitable, ethnically, everyday, excellent, exerted, exhausted, expectedly, extraordinary, EY, fast, feedback, flagged, flexibility, flexible, food, Formal, formally, Foundation, fueled, funeral, furnished, gambling, gasoline, Gestalt, Globe, guaranty, headcount, heard, Hill, ICE, IMG, immigrant, impede, indeterminate, inhibit, inject, insecure, intensity, interacting, Internship, IntraFi, invited, Journal, judgement, launched, laundry, leadership, learn, Learning, Leave, legacy, LGBTQ, LGD, light, live, loyalty, luncheon, meaningfully, mental, moratorium, motor, moved, navigate, necessitated, NOL, nongovernmental, notable, ntoed, Oddleifson, onset, outpaced, output, outreach, pandemic, Partnership, Paycheck, PCD, PD, peer, persist, persistence, pet, physical, platform, PPE, PPP, precipitate, presidential, Pride, proven, pursued, racially, rapid, rapidly, reallocation, Reimbursement, repair, reprice, Resource, resume, RockCorp, RockFit, round, runoff, SBIC, scorecard, sharply, Shining, shopping, shrinkage, shut, side, signature, sixteen, skewed, spectator, Star, steady, stemming, straight, streamlined, stressed, stressing, Study, subscription, succeed, sudden, surge, teamwork, tightened, traffic, trillion, Tuition, tutoring, unevenly, unprecedented, unpredictable, urgent, usage, video, vintage, violate, violence, Vision, visiting, volunteer, women, workforce, worsen

Removed: accrete, advancing, agreeing, captioned, capture, creation, deal, deductibility, delivered, designating, digit, dissolved, Edgartown, enforceability, expensed, forfeiture, implicit, Interfinancial, job, judged, labor, noncompete, obtainable, paragraph, passed, payroll, pose, presence, President, promontory, provisional, realizability, reducing, remained, remeasured, remeasurement, repealed, revaluation, sensitive, thirteen, unpaid

From filing 10-K 2020 FY