Independent Bank Q1 2023 Earnings Report

Independent Bank EPS Results

• Actual EPS: $1.36
• Consensus EPS: $1.51
• Beat/Miss: Missed by -$0.15
• One Year Ago EPS: N/A

Independent Bank Revenue Results

• Actual Revenue: $187.24 million
• Expected Revenue: $192.90 million
• Beat/Miss: Missed by -$5.66 million
• YoY Revenue Growth: N/A

Independent Bank Announcement Details

• Quarter: Q1 2023
• Date: 4/20/2023
• Time: N/A

Independent Bank (NASDAQ:INDB) operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses in the United States. The company provides interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit. It offers commercial real estate and construction, commercial and industrial, small business, secured and unsecured commercial, and consumer real estate loans; term loans and revolving/nonrevolving lines of credit; overdraft protection and letters of credit; and residential mortgages and home equity loans and lines. In addition, the company provides cash management services, such as ACH transaction processing, positive pay, and remote deposit services; investment management and trust services to individuals, institutions, small businesses, and charitable institutions; mobile, online, and telephone banking; estate settlement, financial planning, tax services, and other services; automated teller machines; debit and credit cards; and mutual fund and unit investment trust shares, third party model portfolios, general securities, fixed and variable annuities, and life insurance products, as well as advisory platforms. Further, it invests in low-income housing tax credit projects; holds, maintains, and disposes foreclosed properties; and operates as an investment advisor. Independent Bank Corp. was founded in 1907 and is headquartered in Rockland, Massachusetts.