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. After 150 years of local banking, we understand the needs of individuals, families, and businesses around the state – and we’re committed to addressing them. We support local causes and our employees serve their communities’ human services agencies, arts and cultural organizations, school systems, places of worship, and more. We’re your friends and neighbors, locally invested the same way you are.

Grand Rapids, US
Size (employees)
1,103 (est)+5%
Independent Bank Corp was founded in 1864 and is headquartered in Grand Rapids, US

Independent Bank Corp Office Locations

Independent Bank Corp has an office in Grand Rapids
Grand Rapids, US (HQ)
4200 E Beltline Ave NE

Independent Bank Corp Metrics

Independent Bank Corp Financial Metrics

Revenue (2016)

$128.8 m

Revenue growth (2015-16), %


Gross profit

$121.9 m

Gross profit margin (2016), %


Net income (2016)

$22.8 m

Market capitalization (21-Mar-2017)

$1.7 b

Closing share price (21-Mar-2017)


Cash (31-Dec-2016)

$97.2 m
Independent Bank Corp's current market capitalization is $1.7 b.
Independent Bank Corp's revenue was reported to be $128.8 m in FY, 2016 which is a 45.3% decrease from the previous period.
FY, 2013FY, 2014FY, 2015FY, 2016


$205.9 m$216.5 m$235.5 m$128.8 m

Revenue growth, %


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, %


Operating expense total

$104.1 m$90 m$88.5 m$90.3 m


$81.9 m$76.4 m$77.7 m$81 m

EBIT margin, %


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


$168.1 m$143.3 m$84.8 m$97.2 m

Accounts Receivable



$43.1 m$40.2 m


$170.4 m$170.4 m$201.1 m$221.5 m

Total Assets

$6.1 b$6.4 b$7.2 b$7.7 b

Accounts Payable

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$414.1 m

Total Equity

$591.5 m$640.5 m$771.5 m$864.7 m

Financial Leverage

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

Net Income

$50.3 m$59.8 m$65 m$76.6 m

Depreciation and Amortization

$8.5 m$11 m$12.3 m$14.4 m

Accounts Receivable


Accounts Payable

Cash From Operating Activities

$141.3 m$84.7 m$89.5 m$93.3 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 m$164.3 m$213.5 m$158.9 m

Interest Paid

$5.8 m$6.4 m

Income Taxes Paid

$12.2 m$14.5 m$11.8 m$33.5 m

Free Cash Flow

$93.9 m$96.8 m

Independent Bank Corp Market Value History

Independent Bank Corp Online Presence

Independent Bank Corp Company Life

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