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)-33%
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
Williamston, US
1245 E Grand River Ave
White Cloud, US
1075 E Wilcox Ave
West Bloomfield Township, US
6057 Haggerty Rd
Unionville, US
6586 Center St
Troy, US
201 201 W Big Beaver Rd
Troy, US
5950 Rochester Rd
Traverse City, US
206 400 W Front St
Standish, US
209 S Main St
Sparta, US
525 S State St
Shelby Charter Township, US
49785 Van Dyke
Sebewaing, US
8880 Unionville Rd
Saranac, US
29 Church St
Sand Lake, US
5 3rd St
Saginaw, US
7400 Bay Rd
Saginaw, US
3601 State St
Saginaw, US
5500 Dixie Hwy
Saginaw, US
1445 N Center Rd
Saginaw, US
4850 Bay Rd
Rockford, US
78 S Main St
Potterville, US
320 E Vermontville Hwy
Portland, US
1601 E Grand River Ave
Pleasant Lake, US
11628 Bunkerhill Rd
Pinconning, US
408 S Mable St
Pigeon, US
75 S Main St
Olivet, US
112 S Main St
Meridian Charter Township, US
2119 Hamilton Rd
North Branch, US
4046 Huron St
Newaygo, US
40 State Rd
Muskegon, US
3251 Henry St
Mount Pleasant, US
103 E Preston St
Mount Pleasant, US
360 E Broomfield St
Mount Pleasant, US
319 E Broadway St
Midland, US
409 Ashman St
Mason, US
190 W Kipp Rd
Marlette, US
2593 S Van Dyke Rd
Livonia, US
37601 Five Mile Road
Leslie, US
144 S Main St
Lapeer, US
1985 W Genesee St
Kalamazoo, US
210 1090 10th St N
Ionia, US
2551 S State Rd
Ionia, US
450 S Dexter St
Ionia, US
230 W Main St
Howard City, US
720 Shaw St
Grand Rapids, US
1200 77 Monroe Center St Nw
Walker, US
4525 Lake Michigan Dr
Grand Rapids, US
3090 Plainfield Ave Ne
Comstock Park, US
3800 Alpine Ave Nw
Grand Rapids, US
6750 Cascade Rd Se
Farmington Hills, US
32900 Middlebelt Rd
Essexville, US
1615 W Center Rd
Eaton Rapids, US
2461 S Michigan Rd
East Lansing, US
2900 West Rd
East Lansing, US
1380 W Lake Lansing Rd
Dearborn, US
210 16030 Michigan Ave
Columbus, US
204 8760 Orion Pl
Clio, US
3500 W Vienna Rd
Charlotte, US
129 Lansing St
Cedar Springs, US
4115 17 Mile Rd Ne
Cass City, US
6241 Main St
Caseville, US
6727 Main St
Carson City, US
406 E Elm St
Carson City, US
323 W Main St
Caro, US
1111 W Caro Rd
Caledonia, US
200 7199 Kalamazoo Ave Se
Cadillac, US
104 201 N Mitchell St
Brighton, US
A 108 E Grand River Ave
Bloomfield Hills, US
4140 W Maple Rd
Big Rapids, US
846 S State St
Big Rapids, US
404 Perry Ave
Beverly Hills, US
32800 Southfield Rd
Bellevue, US
204 W Capital Ave
Belding, US
130 S Bridge St
Bay City, US
623 Washington Ave
Bay City, US
745 N Euclid Ave
Bad Axe, US
655 N Port Crescent St
Auburn, US
1004 W Midland Rd
Ann Arbor, US
260 3025 Boardwalk Dr

Independent Bank Corp Data and Metrics

Independent Bank Corp Financial Metrics

Independent Bank Corp's revenue was reported to be $128.8 m in FY, 2016 which is a 45% decrease from the previous period.

Revenue (FY, 2016)

128.8 m

Revenue growth (FY, 2015 - FY, 2016), %


Gross profit (FY, 2016)

121.9 m

Gross profit margin (FY, 2016), %


Net income (FY, 2016)

22.8 m

EBIT (FY, 2016)

81 m

Market capitalization (23-Jun-2017)

429.9 m

Closing share price (23-Jun-2017)


Cash (31-Dec-2016)

97.2 m
Independent Bank Corp's current market capitalization is $429.9 m.
USDFY, 2013FY, 2014FY, 2015FY, 2016


205.9 m216.5 m235.5 m128.8 m

Revenue growth, %


Cost of goods sold

9.2 m7.3 m5.9 m6.9 m

Gross profit

196.8 m209.2 m229.7 m121.9 m

Gross profit Margin, %


Operating expense total

104.1 m90 m88.5 m90.3 m


81.9 m76.4 m77.7 m81 m

EBIT margin, %


Pre tax profit

22.7 m25.2 m29.4 m32.9 m

Income tax expense

(54.9 m)7.2 m9.4 m10.1 m

Net Income

50.3 m59.8 m65 m22.8 m
USDFY, 2013FY, 2014FY, 2015FY, 2016


168.1 m143.3 m84.8 m97.2 m


43.1 m40.2 m


170.4 m170.4 m201.1 m221.5 m

Total Assets

6.1 b6.4 b7.2 b7.7 b

Additional Paid-in Capital

305.2 m312 m405.5 m451.7 m

Retained Earnings

293.6 m330.4 m368.2 m414.1 m

Total Equity

591.5 m640.5 m771.5 m864.7 m

Financial Leverage

10.3 x9.9 x9.3 x8.9 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

50.3 m59.8 m65 m76.6 m

Depreciation and Amortization

8.5 m11 m12.3 m14.4 m

Cash From Operating Activities

141.3 m84.7 m89.5 m93.3 m

Purchases of PP&E

(48 m)(37 m)(73.1 m)(69.7 m)

Capital Expenditures

(4.4 m)(3.5 m)

Cash From Investing Activities

(208.6 m)(287.1 m)(205.5 m)(238.9 m)

Long-term Borrowings

79.9 m

Dividends Paid

(5.9 m)(7.3 m)

Cash From Financing Activities

68.1 m164.3 m213.5 m158.9 m

Interest Paid

5.8 m6.4 m

Income Taxes Paid

12.2 m14.5 m11.8 m33.5 m

Free Cash Flow

93.9 m96.8 m
USDY, 2016


122.6 k

Financial Leverage

8.9 x

Independent Bank Corp Market Value History

Independent Bank Corp Online and Social Media Presence

Independent Bank Corp Company Life and Culture

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