Independent Bank Corp

Independent Bank Corp. operates as the bank holding company for Rockland Trust Company, which provides commercial banking products and services to individuals and small-to-medium sized businesses primarily in Massachusetts. The Company's products and services include demand deposits and time certificates of deposit, as well as checking, money market, and savings accounts. Its loan portfolio includes commercial loans, such as commercial and industrial, asset-based, commercial real estate, commercial construction, and small business loans; consumer real estate loans, including residential mortgages, home equity loans, and loans for the construction of residential properties; and other consumer loans, such as personal and automobile loans.

The Company's commercial and industrial loans cover loans for working capital, other business-related purposes, and floor plan financing; asset-based loans consist primarily of revolving lines of credit and term loans; commercial real estate loans include commercial mortgages for construction purposes that are secured by nonresidential properties, multifamily properties, or one-to-four family rental properties; and small business loans comprise real estate loans and loans to businesses with commercial credit needs. It also provides investment management and trust services to individuals, institutions, small businesses, and charitable institutions; Internet and mobile banking services; and insurance services. 

Company Growth (employees)
Grand Rapids, US
Size (employees)
737 (est)
Independent Bank Corp was founded in 1864 and is headquartered in Grand Rapids, US

Independent Bank Corp Office Locations

Independent Bank Corp has offices in Grand Rapids, Ann Arbor, Auburn, Bad Axe and in 58 other locations
Grand Rapids, US (HQ)
4200 E Beltline Ave NE
Ann Arbor, US
260 3025 Boardwalk Dr
Auburn, US
1004 W Midland Rd
Bad Axe, US
655 N Port Crescent St
Bay City, US
745 N Euclid Ave
Bay City, US
623 Washington Ave
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Independent Bank Corp Financials and Metrics

Independent Bank Corp Financials

Independent Bank Corp's revenue was reported to be $128.8 m in FY, 2016

Revenue (Q2, 2017)

89.5 m

Gross profit (Q2, 2017)

85.2 m

Gross profit margin (Q2, 2017), %


Net income (Q2, 2017)

20.6 m

EBIT (Q2, 2017)

62.7 m

Market capitalization (13-Dec-2017)

489.6 m

Cash (30-Jun-2017)

110.2 m


467.3 m
Independent Bank Corp's current market capitalization is $489.6 m.
USDFY, 2014FY, 2015FY, 2016


119.3 m121 m128.8 m

Revenue growth, %


Cost of goods sold

6.9 m

Gross profit

121.9 m
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017


79.3 m79.5 m78.9 m82.3 m82.7 m83.3 m89.5 m

Cost of goods sold

5.3 m5.2 m4.9 m4.6 m4.6 m4.2 m4.4 m

Gross profit

74 m74.3 m74 m77.6 m78.1 m79.1 m85.2 m

Gross profit Margin, %

USDFY, 2013FY, 2014FY, 2015FY, 2016


168.1 m143.3 m84.8 m83.2 m


43.1 m40.2 m


170.4 m170.4 m201.1 m221.5 m

Total Assets

6.1 b6.4 b7.2 b2.5 b
USDQ2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017


100.1 m160.7 m83.3 m102.4 m92.2 m94.7 m110.2 m


201.1 m201.1 m201.1 m201.1 m201.1 m221.5 m231.8 m

Total Assets

7.2 b7.1 b7.2 b7.4 b7.5 b7.7 b8 b

Accounts Payable

6 b5.9 b6 b6.2 b6.3 b6.5 b6.7 b
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

50.3 m59.8 m65 m22.8 m

Depreciation and Amortization

8.5 m11 m12.3 m14.4 m

Accounts Payable

838 k

Cash From Operating Activities

141.3 m84.7 m89.5 m24 m
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

39.7 m13.4 m28.1 m43.9 m9.5 m26.9 m45.5 m18.6 m39 m59.5 m20.7 m41.3 m

Depreciation and Amortization

6.3 m2.7 m5.7 m8.5 m3.1 m6.4 m9.3 m2.9 m7.2 m10.7 m3.6 m7.5 m

Accounts Payable

2.6 m1.4 m

Cash From Operating Activities

115 m14.7 m30.6 m59.3 m7.4 m37.9 m62.1 m1.5 m14 m39.8 m37.4 m49.2 m
USDY, 2017


7.5 x


9.5 x


121.5 k

Financial Leverage

8.8 x
Show all financial metrics

Independent Bank Corp Operating Metrics

Independent Bank Corp's Total Loans Issued was reported to be $1.8 b in Q2, 2017
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Independent Bank Corp Market Value History

Independent Bank Corp's Web-traffic and Trends

Independent Bank Corp Online and Social Media Presence

Independent Bank Corp Company Life and Culture

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