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)
Independent Bank Corp Office Locations
Independent Bank Corp Data and Metrics
Independent Bank Corp Financial Metrics
Net income (Q1, 2017) | 6 m |
Market capitalization (17-Aug-2017) | 436.2 m |
Cash (31-Dec-2016) | 83.2 m |
EV | 388.6 m |
| USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|---|
Revenue | 205.9 m | 216.5 m | 235.5 m | 128.8 m |
Revenue growth, % | 5% | 9% | (45%) | |
Cost of goods sold | 9.2 m | 7.3 m | 5.9 m | 6.9 m |
Gross profit | 196.8 m | 209.2 m | 229.7 m | 121.9 m |
Gross profit Margin, % | 96% | 97% | 98% | 95% |
Sales and marketing expense | 1.9 m | |||
R&D expense | 8 m | |||
Operating expense total | 104.1 m | 90 m | 88.5 m | 90.3 m |
EBIT | 81.9 m | 76.4 m | 77.7 m | 81 m |
EBIT margin, % | 40% | 35% | 33% | 63% |
Pre tax profit | 22.7 m | 25.2 m | 29.4 m | 32.9 m |
Income tax expense | (54.9 m) | 7.2 m | 9.4 m | 10.1 m |
Net Income | 50.3 m | 59.8 m | 65 m | 22.8 m |
| USD | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 |
|---|---|---|---|---|---|---|
Net Income | 9.4 m | 14.4 m | 4.1 m | 10.5 m | 16.9 m | 6 m |
| USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|---|
Cash | 168.1 m | 143.3 m | 84.8 m | 83.2 m |
PP&E | 43.1 m | 40.2 m | ||
Goodwill | 170.4 m | 170.4 m | 201.1 m | 221.5 m |
Total Assets | 6.1 b | 6.4 b | 7.2 b | 2.5 b |
Accounts Payable | 2.2 b | |||
Total Debt | 35.6 m | |||
Total Liabilities | 2.3 b | |||
Additional Paid-in Capital | 305.2 m | 312 m | 405.5 m | 451.7 m |
Retained Earnings | 293.6 m | 330.4 m | 368.2 m | (65.7 m) |
Total Equity | 591.5 m | 640.5 m | 771.5 m | 249 m |
Debt to Equity Ratio | 0.1 x | |||
Debt to Assets Ratio | 0 x | |||
Financial Leverage | 10.3 x | 9.9 x | 9.3 x | 10.2 x |
| USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|---|
Net Income | 50.3 m | 59.8 m | 65 m | 22.8 m |
Depreciation and Amortization | 8.5 m | 11 m | 12.3 m | 14.4 m |
Accounts Payable | 838 k | |||
Cash From Operating Activities | 141.3 m | 84.7 m | 89.5 m | 24 m |
Purchases of PP&E | (48 m) | (37 m) | (73.1 m) | (297.9 m) |
Capital Expenditures | (4.4 m) | (3.5 m) | ||
Cash From Investing Activities | (208.6 m) | (287.1 m) | (205.5 m) | (138.9 m) |
Long-term Borrowings | 79.9 m | |||
Dividends Paid | (5.9 m) | (7.3 m) | ||
Cash From Financing Activities | 68.1 m | 164.3 m | 213.5 m | 112.3 m |
Interest Paid | 5.8 m | 6.4 m | ||
Income Taxes Paid | 12.2 m | 14.5 m | 11.8 m | 563 k |
Free Cash Flow | 93.9 m | 20.5 m |
| USD | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 |
|---|---|---|---|---|---|---|
Net Income | 9.4 m | 14.4 m | 4.1 m | 10.5 m | 16.9 m | 6 m |
Accounts Payable | 2.6 m | 1.4 m | ||||
Cash From Operating Activities | 7.8 m | 19.6 m | 14.5 m | 13.1 m | 3.2 m | |
Purchases of PP&E | (111.9 m) | (195.6 m) | (74.3 m) | (159.7 m) | (213.8 m) | (45.7 m) |
Capital Expenditures | (1.9 m) | (2.9 m) | (611 k) | (990 k) | (1.7 m) | (680 k) |
Cash From Investing Activities | (54.4 m) | (119.1 m) | (62.2 m) | (82.3 m) | ||
Dividends Paid | (2.8 m) | (4.1 m) | (1.8 m) | (3.5 m) | (5.1 m) | (2.1 m) |
Cash From Financing Activities | 30.9 m | 130.8 m | 51.9 m | 22.9 m | 97.7 m | 34.8 m |
Interest Paid | 2.9 m | 4.3 m | 1.5 m | 3.2 m | 4.8 m | 1.6 m |
Income Taxes Paid | 91 k | 229 k | 120 k | 360 k | 437 k | 140 k |
Free Cash Flow | 5.9 m | 16.6 m | 13.5 m | 11.4 m | 2.5 m |
| Y, 2017 | |
|---|---|
EV/CFO | 121.9 x |
EV/FCF | 154.9 x |
