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Independent Bank (INDB) Financials

Independent Bank logo
$55.24 +0.93 (+1.71%)
Closing price 04/15/2025 04:00 PM Eastern
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$55.28 +0.03 (+0.06%)
As of 05:53 AM Eastern
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Annual Income Statements for Independent Bank

Annual Income Statements for Independent Bank

This table shows Independent Bank's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders		 65 77 87 122 165 121 121 264 240 192
Consolidated Net Income / (Loss)		 65 77 87 122 165 121 121 264 240 192
Net Income / (Loss) Continuing Operations		 65 77 87 122 165 121 121 264 240 192
Total Pre-Tax Income 		92 112 135 156 218 153 157 348 315 247
Total Revenue		 291 310 342 387 508 479 507 728 731 690
Net Interest Income / (Expense)		 215 228 259 298 393 368 402 613 607 562
Total Interest Income		 236 247 277 324 447 402 415 643 796 853
Loans and Leases Interest Income		 215 224 253 294 412 371 382 578 730 790
Investment Securities Interest Income		 20 21 23 27 32 30 30 50 60 57
Federal Funds Sold and Securities Borrowed Interest Income		 0.35 1.19 1.42 2.68 2.21 0.85 2.49 14 5.19 5.67
Total Interest Expense		 21 19 18 26 54 34 14 30 189 291
Deposits Interest Expense		 12 11 13 20 41 27 8.33 25 145 247
Long-Term Debt Interest Expense		 9.04 7.65 5.63 5.54 13 7.01 5.39 4.94 44 44
Total Non-Interest Income		 76 82 83 89 115 111 106 115 125 128
Service Charges on Deposit Accounts		 19 19 18 18 20 15 17 23 23 26
Other Service Charges		 28 32 33 36 55 50 44 43 47 48
Net Realized & Unrealized Capital Gains on Investments		 4.65 6.16 3.84 3.84 6.91 11 3.52 4.22 5.62 2.57
Investment Banking Income		 21 22 24 26 29 29 35 37 40 43
Other Non-Interest Income		 3.69 4.09 4.13 4.06 5.01 5.36 6.43 7.69 7.87 8.09
Provision for Credit Losses		 1.50 6.08 2.95 4.78 6.00 53 18 6.50 23 36
Total Non-Interest Expense		 197 192 204 226 284 274 333 374 393 406
Salaries and Employee Benefits		 105 109 117 124 149 152 173 205 222 234
Net Occupancy & Equipment Expense		 28 28 30 32 40 43 43 59 60 62
Property & Liability Insurance Claims		 3.98 3.38 3.07 2.77 1.39 2.52 3.98 6.95 12 11
Other Operating Expenses		 45 41 44 48 56 64 66 88 91 92
Amortization Expense		 - - 2.71 2.34 6.38 6.14 5.72 7.66 6.88 5.91
Restructuring Charge		 11 5.46 3.39 11 26 0.00 41 7.10 0.00 1.90
Income Tax Expense		 27 35 47 34 53 32 36 84 76 55
Basic Earnings per Share		 $2.51 $2.90 $3.19 $4.41 $5.03 $3.64 $3.47 $5.69 $5.42 $4.52
Weighted Average Basic Shares Outstanding		 25.89M 26.40M 27.29M 27.59M 32.81M 33.26M 34.87M 46.37M 44.18M 42.50M
Diluted Earnings per Share		 $2.50 $2.90 $3.19 $4.40 $5.03 $3.64 $3.47 $5.69 $5.42 $4.52
Weighted Average Diluted Shares Outstanding		 25.96M 26.46M 27.37M 27.65M 32.86M 33.29M 34.89M 46.39M 44.19M 42.51M
Weighted Average Basic & Diluted Shares Outstanding		 25.90M 26.40M 27.30M 27.60M 32.80M 66.04M 94.80M 90.13M 84.89M 42.61M
Cash Dividends to Common per Share		 $1.04 - - $1.52 $0.00 $1.84 $1.92 $2.08 $2.20 $2.28

Quarterly Income Statements for Independent Bank

This table shows Independent Bank's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Income / (Loss) Attributable to Common Shareholders		 72 77 61 63 61 55 48 51 43 50
Consolidated Net Income / (Loss)		 72 77 61 63 61 55 48 51 43 50
Net Income / (Loss) Continuing Operations		 72 77 61 63 61 55 48 51 43 50
Total Pre-Tax Income 		95 100 81 83 80 71 62 66 55 63
Total Revenue		 191 201 187 183 183 177 167 170 175 177
Net Interest Income / (Expense)		 163 168 159 153 150 145 137 138 142 145
Total Interest Income		 170 184 187 199 203 207 208 212 217 216
Loans and Leases Interest Income		 150 164 171 180 187 192 193 197 201 198
Investment Securities Interest Income		 13 16 15 16 15 15 14 14 14 15
Federal Funds Sold and Securities Borrowed Interest Income		 6.52 4.16 0.67 3.31 0.91 0.30 0.48 0.40 1.64 3.15
Total Interest Expense		 7.37 16 28 46 53 62 71 74 75 72
Deposits Interest Expense		 6.11 14 23 32 41 49 54 61 67 64
Long-Term Debt Interest Expense		 1.26 1.45 5.26 14 12 13 16 12 7.84 7.47
Total Non-Interest Income		 28 32 28 31 34 32 30 32 34 32
Service Charges on Deposit Accounts		 6.26 5.79 5.92 5.51 5.94 6.13 6.23 6.33 6.78 7.12
Other Service Charges		 11 12 10 12 13 13 12 13 13 12
Net Realized & Unrealized Capital Gains on Investments		 0.95 2.11 0.42 1.45 2.77 0.98 0.34 0.47 1.13 0.63
Investment Banking Income		 8.44 10 9.78 10 10 9.82 9.94 11 11 11
Other Non-Interest Income		 1.88 2.14 1.85 1.94 1.98 2.09 1.93 2.00 2.01 2.15
Provision for Credit Losses		 3.00 5.50 7.25 5.00 5.50 5.50 5.00 4.25 20 7.50
Total Non-Interest Expense		 93 95 99 96 98 101 100 100 100 106
Salaries and Employee Benefits		 53 54 57 54 55 56 57 57 60 59
Net Occupancy & Equipment Expense		 15 15 15 15 15 15 16 15 15 16
Property & Liability Insurance Claims		 1.68 1.73 2.61 2.67 2.73 3.94 2.98 2.69 2.63 2.59
Other Operating Expenses		 22 23 22 21 24 25 22 22 21 27
Amortization Expense		 1.90 1.85 1.82 1.72 1.71 1.64 1.56 1.47 1.46 1.42
Income Tax Expense		 23 23 20 20 19 16 15 15 12 13
Basic Earnings per Share		 $1.57 $1.68 $1.36 $1.42 $1.38 $1.26 $1.12 $1.21 $1.01 $1.18
Weighted Average Basic Shares Outstanding		 45.84M 46.37M 45.00M 44.13M 44.14M 44.18M 42.55M 42.47M 42.48M 42.50M
Diluted Earnings per Share		 $1.57 $1.68 $1.36 $1.42 $1.38 $1.26 $1.12 $1.21 $1.01 $1.18
Weighted Average Diluted Shares Outstanding		 45.86M 46.39M 45.02M 44.14M 44.15M 44.19M 42.57M 42.47M 42.49M 42.51M
Weighted Average Basic & Diluted Shares Outstanding		 45.64M 90.13M - 44.14M 43.85M 84.89M 42.47M 42.48M 42.49M 42.61M
Cash Dividends to Common per Share		 $0.51 $1.06 $0.55 $0.55 $0.55 $0.55 $0.57 $0.57 $0.57 $0.57

Annual Cash Flow Statements for Independent Bank

This table details how cash moves in and out of Independent Bank's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Change in Cash & Equivalents		 98 13 -76 37 -99 1,146 944 -1,888 -129 -4.44
Net Cash From Operating Activities		 90 93 131 142 217 65 190 421 277 230
Net Cash From Continuing Operating Activities		 90 93 131 142 217 65 190 421 277 230
Net Income / (Loss) Continuing Operations		 65 77 87 122 165 121 121 264 240 192
Consolidated Net Income / (Loss)		 65 77 87 122 165 121 121 264 240 192
Provision For Loan Losses		 1.50 6.08 2.95 4.78 6.00 53 18 6.50 23 36
Depreciation Expense		 12 14 16 16 19 27 33 39 36 41
Amortization Expense		 - - -0.08 0.37 2.69 -7.13 -25 -7.12 -1.86 -1.74
Non-Cash Adjustments to Reconcile Net Income		 8.86 -2.12 8.61 -6.26 -15 -35 -25 -23 -18 -27
Changes in Operating Assets and Liabilities, net		 1.91 -1.62 17 5.71 39 -94 68 142 -1.77 -10
Net Cash From Investing Activities		 -206 -239 -317 -388 20 -488 -63 -1,000 -212 -33
Net Cash From Continuing Investing Activities		 -206 -239 -317 -388 20 -488 -63 -1,000 -212 -33
Purchase of Property, Leasehold Improvements and Equipment		 -10 -10 -25 -11 -17 -13 -25 -22 -16 -20
Purchase of Investment Securities		 -380 -406 -442 -552 -111 -859 -1,209 -1,296 -410 -399
Sale of Property, Leasehold Improvements and Equipment		 1.23 0.35 6.31 2.19 3.80 6.10 0.17 3.34 0.11 0.09
Sale and/or Maturity of Investments		 184 177 144 171 144 377 1,171 314 214 386
Net Cash From Financing Activities		 214 159 110 283 -336 1,569 817 -1,308 -194 -201
Net Cash From Continuing Financing Activities		 214 159 110 283 -336 1,569 817 -1,308 -194 -201
Net Change in Deposits		 348 246 158 279 -206 1,846 1,484 -1,037 -1,014 440
Issuance of Common Equity		 - - - - -1.46 -1.19 -1.25 -1.08 -1.14 -0.82
Repayment of Debt		 -39 -66 0.00 -24 -110 -77 -605 -14 0.00 -50
Repurchase of Common Equity		 -0.66 -0.70 -1.42 -1.37 0.00 -95 0.00 -140 -189 -31
Payment of Dividends		 -26 -30 -34 -40 -53 -61 -63 -94 -98 -96
Other Financing Activities, Net		 -69 8.96 -12 70 -140 -43 1.97 -23 1,108 -464
Cash Interest Paid		 21 19 19 25 50 37 14 26 183 292
Cash Income Taxes Paid		 12 33 33 28 40 48 23 44 44 51

Quarterly Cash Flow Statements for Independent Bank

This table details how cash moves in and out of Independent Bank's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Change in Cash & Equivalents		 -540 -583 150 -194 -88 4.20 -3.01 93 111 -205
Net Cash From Operating Activities		 133 115 51 91 81 54 51 66 70 43
Net Cash From Continuing Operating Activities		 133 115 51 91 81 54 51 66 70 43
Net Income / (Loss) Continuing Operations		 72 77 61 63 61 55 48 51 43 50
Consolidated Net Income / (Loss)		 72 77 61 63 61 55 48 51 43 50
Provision For Loan Losses		 3.00 5.50 7.25 5.00 5.50 5.50 5.00 4.25 20 7.50
Depreciation Expense		 9.57 9.27 9.63 8.75 9.19 8.53 10 11 10 9.39
Amortization Expense		 -0.74 -0.72 -0.53 -0.29 -0.38 -0.66 -0.27 -0.33 -0.47 -0.67
Non-Cash Adjustments to Reconcile Net Income		 -5.07 -7.88 -3.70 -4.66 -6.37 -3.50 -2.96 -2.01 -3.46 -19
Changes in Operating Assets and Liabilities, net		 55 32 -22 19 13 -11 -8.69 1.51 1.41 -4.34
Net Cash From Investing Activities		 -290 -216 -29 -146 -56 19 16 16 63 -128
Net Cash From Continuing Investing Activities		 -290 -216 -29 -146 -56 19 16 16 63 -128
Purchase of Property, Leasehold Improvements and Equipment		 -1.87 -4.05 -4.22 -2.43 -2.90 -6.30 -4.46 -3.73 -5.86 -6.38
Purchase of Investment Securities		 -349 -292 -68 -217 -97 -28 -62 -66 -18 -254
Sale of Property, Leasehold Improvements and Equipment		 1.23 2.12 0.05 - 0.05 0.01 0.02 0.01 - 0.06
Sale and/or Maturity of Investments		 59 78 44 74 43 53 82 86 86 132
Net Cash From Financing Activities		 -383 -483 127 -139 -113 -69 -70 11 -22 -120
Net Cash From Continuing Financing Activities		 -383 -483 127 -139 -113 -69 -70 11 -22 -120
Net Change in Deposits		 -300 -460 -607 -24 -189 -194 178 366 31 -135
Payment of Dividends		 -24 -23 -25 -24 -24 -24 -24 -24 -24 -24
Other Financing Activities, Net		 -24 1.68 879 -90 100 220 -143 -331 -29 40

Annual Balance Sheets for Independent Bank

This table presents Independent Bank's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2020 2021 2022 2023 2024
Total Assets		 7,209 7,709 8,082 8,852 13,204 20,423 19,294 19,347 19,374
Cash and Due from Banks		 85 97 103 128 169 142 176 179 188
Interest Bearing Deposits at Other Banks		 191 192 110 123 1,127 2,099 177 45 32
Trading Account Securities		 845 852 947 1,075 1,162 2,690 3,132 2,931 2,711
Loans and Leases, Net of Allowance		 5,492 5,938 6,295 -64 9,258 -147 -152 -142 -170
Allowance for Loan and Lease Losses		 56 62 61 64 113 147 152 142 170
Loans Held for Sale		 5.99 6.14 4.77 6.43 58 13,440 13,776 6.37 7.27
Premises and Equipment, Net		 76 78 95 98 116 196 197 193 193
Goodwill		 201 222 232 256 506 985 985 985 985
Intangible Assets		 12 9.85 9.34 15 23 33 25 18 12
Other Assets		 302 315 287 7,215 762 839 826 14,990 15,244
Total Liabilities & Shareholders' Equity		 7,209 7,709 8,082 8,852 13,204 20,423 19,294 19,347 19,374
Total Liabilities		 6,438 6,845 7,138 7,778 11,502 17,405 16,407 16,452 16,380
Interest Bearing Deposits		 5,991 6,412 6,729 7,427 10,993 16,917 15,879 14,866 15,306
Long-Term Debt		 210 159 161 259 244 152 113 1,218 701
Other Long-Term Liabilities		 237 97 85 92 327 336 415 368 373
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 771 865 944 1,073 1,703 3,018 2,887 2,895 2,993
Total Preferred & Common Equity		 771 865 944 1,073 1,703 3,018 2,887 2,895 2,993
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 771 865 944 1,073 1,703 3,018 2,887 2,895 2,993
Common Stock		 402 448 475 523 943 2,246 2,112 1,929 1,907
Retained Earnings		 368 414 466 547 716 767 934 1,077 1,173
Accumulated Other Comprehensive Income / (Loss)		 -2.45 -1.34 -1.83 -1.17 41 2.18 -163 -115 -90
Other Equity Adjustments		 3.96 4.28 4.59 4.72 3.20 3.15 3.23 3.30 3.38

Quarterly Balance Sheets for Independent Bank

This table presents Independent Bank's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Total Assets		 19,703 19,401 19,368 19,325 19,411 19,408
Cash and Due from Banks		 173 182 177 165 193 199
Interest Bearing Deposits at Other Banks		 764 126 43 56 121 225
Trading Account Securities		 3,152 3,023 2,974 2,846 2,766 2,766
Loans and Leases, Net of Allowance		 -147 -141 -141 -147 -151 -164
Allowance for Loan and Lease Losses		 147 141 141 147 151 164
Loans Held for Sale		 - 6.58 4.00 11 18 16
Premises and Equipment, Net		 198 194 192 193 191 192
Goodwill		 985 985 985 985 985 985
Intangible Assets		 27 22 20 17 15 14
Other Assets		 14,404 14,863 14,974 15,052 15,122 15,011
Total Liabilities & Shareholders' Equity		 19,703 19,401 19,368 19,325 19,411 19,408
Total Liabilities		 16,886 16,546 16,483 16,440 16,492 16,431
Interest Bearing Deposits		 16,339 15,248 15,060 15,043 15,410 15,441
Long-Term Debt		 113 901 1,000 1,025 693 663
Other Long-Term Liabilities		 434 397 423 372 389 327
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2,817 2,855 2,885 2,884 2,919 2,977
Total Preferred & Common Equity		 2,817 2,855 2,885 2,884 2,919 2,977
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 2,817 2,855 2,885 2,884 2,919 2,977
Common Stock		 2,111 1,995 1,997 1,899 1,902 1,904
Retained Earnings		 883 1,010 1,046 1,101 1,128 1,147
Accumulated Other Comprehensive Income / (Loss)		 -179 -153 -161 -119 -114 -77
Other Equity Adjustments		 3.24 3.29 3.34 3.40 3.35 3.40

Annual Metrics and Ratios for Independent Bank

This table displays calculated financial ratios and metrics derived from Independent Bank's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 9.34% 6.69% 10.18% 13.11% 31.49% -5.76% 5.89% 43.46% 0.44% -5.66%
EBITDA Growth		 9.01% 21.00% 18.82% 14.44% 39.74% -28.00% -4.77% 130.36% -7.92% -18.06%
EBIT Growth		 10.07% 21.59% 20.05% 15.89% 39.88% -29.93% 2.51% 121.96% -9.38% -21.58%
NOPAT Growth		 8.55% 17.99% 13.77% 39.47% 35.81% -26.64% -0.14% 118.04% -9.22% -19.80%
Net Income Growth		 8.55% 17.99% 13.77% 39.47% 35.81% -26.64% -0.14% 118.04% -9.22% -19.80%
EPS Growth		 0.40% 16.00% 10.00% 37.93% 14.32% -27.63% -4.67% 63.98% -4.75% -16.61%
Operating Cash Flow Growth		 -0.84% 3.75% 40.92% 8.35% 52.66% -70.15% 194.29% 121.43% -34.24% -16.99%
Free Cash Flow Firm Growth		 -245.13% -111.47% 113.96% 187.06% -18,011.08% 196.78% -111.17% 139.39% -301.14% 169.93%
Invested Capital Growth		 15.56% 22.29% 5.61% 5.10% 778.12% -83.36% 62.89% -5.38% 37.12% -10.19%
Revenue Q/Q Growth		 2.26% 1.91% 2.78% 3.77% 2.59% 0.48% 6.91% 7.21% -3.11% -0.05%
EBITDA Q/Q Growth		 5.66% -1.71% 9.20% 0.73% 28.35% -19.35% -24.73% 40.45% -7.92% -2.43%
EBIT Q/Q Growth		 6.40% -2.48% 9.88% 0.78% 23.50% -18.42% -22.81% 41.16% -8.53% -3.13%
NOPAT Q/Q Growth		 5.66% -2.88% 5.93% 6.92% -6.47% -35.32% -40.39% 7.09% -8.50% -2.42%
Net Income Q/Q Growth		 5.66% -2.88% 5.93% 6.92% 18.70% -14.96% -21.40% 39.97% -8.50% -2.42%
EPS Q/Q Growth		 3.31% -3.33% 5.63% 6.28% 18.35% -18.20% -25.38% 47.03% -7.19% -1.74%
Operating Cash Flow Q/Q Growth		 5.32% 38.16% -7.52% -3.03% 23.53% -28.27% -9.68% 24.14% -18.25% -4.41%
Free Cash Flow Firm Q/Q Growth		 43.69% -292.18% 160.00% 161.87% -1,938.28% 5,477.81% -500.54% 156.35% -26.04% 38.26%
Invested Capital Q/Q Growth		 0.99% 22.86% 16.05% 2.63% 492.28% -1.96% 65.75% 2.37% 5.86% 1.48%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 35.93% 40.75% 43.94% 44.46% 47.25% 36.10% 32.46% 52.13% 47.79% 41.50%
EBIT Margin		 31.70% 36.12% 39.36% 40.33% 42.90% 31.90% 30.88% 47.77% 43.10% 35.83%
Profit (Net Income) Margin		 22.34% 24.70% 25.51% 31.45% 32.49% 25.29% 23.85% 36.24% 32.76% 27.85%
Tax Burden Percent		 70.47% 68.39% 64.81% 78.00% 75.73% 79.28% 77.22% 75.86% 76.00% 77.73%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 29.53% 31.61% 35.19% 22.00% 24.27% 20.72% 22.78% 24.14% 24.00% 22.27%
Return on Invested Capital (ROIC)		 7.10% 7.03% 7.07% 9.36% 2.54% 1.78% 4.73% 8.55% 6.73% 4.92%
ROIC Less NNEP Spread (ROIC-NNEP)		 7.10% 7.03% 7.07% 9.36% 2.54% 1.78% 4.73% 8.55% 6.73% 4.92%
Return on Net Nonoperating Assets (RNNOA)		 2.10% 2.34% 2.58% 2.70% 28.24% 12.46% 0.40% 0.38% 1.55% 1.60%
Return on Equity (ROE)		 9.20% 9.37% 9.64% 12.06% 30.77% 14.23% 5.13% 8.94% 8.28% 6.52%
Cash Return on Invested Capital (CROIC)		 -7.34% -13.03% 1.61% 4.38% -156.57% 144.71% -43.12% 14.08% -24.57% 15.66%
Operating Return on Assets (OROA)		 1.36% 1.50% 1.70% 1.84% 2.15% 1.24% 0.93% 1.75% 1.63% 1.28%
Return on Assets (ROA)		 0.96% 1.03% 1.10% 1.44% 1.63% 0.99% 0.72% 1.33% 1.24% 0.99%
Return on Common Equity (ROCE)		 9.20% 9.37% 9.64% 12.06% 30.77% 14.23% 5.13% 8.94% 8.28% 6.52%
Return on Equity Simple (ROE_SIMPLE)		 8.42% 8.86% 9.24% 11.33% 0.00% 7.12% 4.01% 9.14% 8.27% 6.42%
Net Operating Profit after Tax (NOPAT)		 65 77 87 122 165 121 121 264 240 192
NOPAT Margin		 22.34% 24.70% 25.51% 31.45% 32.49% 25.29% 23.85% 36.24% 32.76% 27.85%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 47.23% 45.66% 44.25% 41.77% 38.22% 40.86% 42.52% 36.25% 38.65% 42.87%
Operating Expenses to Revenue		 67.79% 61.92% 59.78% 58.44% 55.92% 57.15% 65.53% 51.33% 53.72% 58.92%
Earnings before Interest and Taxes (EBIT)		 92 112 135 156 218 153 157 348 315 247
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 104 126 150 172 240 173 165 379 349 286
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.26 1.74 1.69 1.53 1.16 2.64 1.63 2.17 1.99 1.87
Price to Tangible Book Value (P/TBV)		 1.73 2.38 2.27 2.05 1.70 3.82 2.46 3.34 3.05 2.80
Price to Revenue (P/Rev)		 3.33 4.85 4.66 4.25 3.91 9.37 9.70 8.60 7.89 8.10
Price to Earnings (P/E)		 14.91 19.65 18.27 13.51 12.04 37.04 40.68 23.73 24.08 29.08
Dividend Yield		 2.81% 2.03% 2.76% 2.55% 2.44% 2.82% 2.57% 2.67% 3.48% 3.55%
Earnings Yield		 6.71% 5.09% 5.47% 7.40% 8.30% 2.70% 2.46% 4.21% 4.15% 3.44%
Enterprise Value to Invested Capital (EV/IC)		 0.92 1.29 1.34 1.24 0.18 1.76 0.89 2.01 1.64 1.64
Enterprise Value to Revenue (EV/Rev)		 3.10 5.00 4.99 4.27 4.21 7.17 5.58 8.27 9.25 8.80
Enterprise Value to EBITDA (EV/EBITDA)		 8.64 12.28 11.34 9.61 8.91 19.86 17.20 15.87 19.35 21.19
Enterprise Value to EBIT (EV/EBIT)		 9.79 13.85 12.67 10.59 9.82 22.48 18.08 17.31 21.45 24.55
Enterprise Value to NOPAT (EV/NOPAT)		 13.90 20.26 19.54 13.58 12.97 28.35 23.42 22.82 28.23 31.59
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.08 16.71 13.02 11.64 9.89 53.14 14.89 14.29 24.41 26.39
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 85.90 29.00 0.00 0.35 0.00 13.85 0.00 9.93
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.27 0.39 0.34 0.24 0.00 0.14 0.05 0.04 0.42 0.23
Long-Term Debt to Equity		 0.27 0.18 0.17 0.24 0.00 0.14 0.05 0.04 0.42 0.23
Financial Leverage		 0.30 0.33 0.36 0.29 11.14 7.01 0.08 0.05 0.23 0.33
Leverage Ratio		 9.61 9.12 8.73 8.39 18.86 14.45 7.12 6.73 6.68 6.58
Compound Leverage Factor		 9.61 9.12 8.73 8.39 18.86 14.45 7.12 6.73 6.68 6.58
Debt to Total Capital		 21.39% 27.95% 25.54% 19.42% 100.00% 12.53% 4.81% 3.78% 29.62% 18.98%
Short-Term Debt to Total Capital		 0.00% 14.74% 12.84% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 21.39% 13.21% 12.70% 19.42% 100.00% 12.53% 4.81% 3.78% 29.62% 18.98%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 78.61% 72.05% 74.46% 80.58% 0.00% 87.48% 95.19% 96.22% 70.38% 81.02%
Debt to EBITDA		 2.01 2.65 2.15 1.50 1.26 1.41 0.93 0.30 3.49 2.45
Net Debt to EBITDA		 -0.63 0.37 0.74 0.05 0.63 -6.09 -12.68 -0.63 2.85 1.68
Long-Term Debt to EBITDA		 2.01 1.25 1.07 1.50 1.26 1.41 0.93 0.30 3.49 2.45
Debt to NOPAT		 3.23 4.38 3.71 2.13 1.84 2.01 1.26 0.43 5.09 3.65
Net Debt to NOPAT		 -1.01 0.61 1.27 0.07 0.92 -8.69 -17.26 -0.91 4.15 2.51
Long-Term Debt to NOPAT		 3.23 2.07 1.85 2.13 1.84 2.01 1.26 0.43 5.09 3.65
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% -0.01% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -67 -142 20 57 -10,201 9,873 -1,103 435 -874 611
Operating Cash Flow to CapEx		 967.51% 924.37% 697.29% 1,590.64% 1,693.30% 995.78% 759.94% 2,249.04% 1,760.82% 1,130.22%
Free Cash Flow to Firm to Interest Expense		 -3.26 -7.56 1.08 2.23 -189.33 287.49 -80.43 14.69 -4.62 2.10
Operating Cash Flow to Interest Expense		 4.34 4.94 7.14 5.55 4.02 1.88 13.87 14.23 1.46 0.79
Operating Cash Flow Less CapEx to Interest Expense		 3.89 4.41 6.12 5.21 3.78 1.69 12.04 13.60 1.38 0.72
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.05 0.05 0.04 0.03 0.04 0.04 0.04
Fixed Asset Turnover		 4.16 4.03 3.95 4.02 4.60 3.99 3.25 3.71 3.75 3.57
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 981 1,200 1,268 1,332 11,698 1,947 3,171 3,000 4,114 3,694
Invested Capital Turnover		 0.32 0.28 0.28 0.30 0.08 0.07 0.20 0.24 0.21 0.18
Increase / (Decrease) in Invested Capital		 132 219 67 65 10,366 -9,752 1,224 -171 1,114 -419
Enterprise Value (EV)		 903 1,553 1,704 1,651 2,142 3,435 2,833 6,020 6,761 6,067
Market Capitalization		 969 1,506 1,594 1,643 1,989 4,488 4,922 6,260 5,767 5,586
Book Value per Share		 $29.43 $32.84 $34.39 $38.96 $0.00 $24.77 $45.79 $35.91 $31.72 $34.40
Tangible Book Value per Share		 $21.31 $24.05 $25.60 $29.11 $0.00 $17.07 $30.35 $23.34 $20.73 $22.94
Total Capital		 981 1,200 1,268 1,332 303 1,947 3,171 3,000 4,114 3,694
Total Debt		 210 335 324 259 303 244 152 113 1,218 701
Total Long-Term Debt		 210 159 161 259 303 244 152 113 1,218 701
Net Debt		 -66 46 111 8.25 152 -1,053 -2,088 -240 994 481
Capital Expenditures (CapEx)		 9.26 10 19 8.92 13 6.49 25 19 16 20
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 210 335 324 259 11,698 244 152 113 1,218 701
Total Depreciation and Amortization (D&A)		 12 14 16 16 22 20 8.04 32 34 39
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.51 $2.90 $3.19 $4.41 $5.03 $3.64 $3.47 $5.69 $5.42 $4.52
Adjusted Weighted Average Basic Shares Outstanding		 25.89M 26.40M 27.29M 27.59M 32.81M 33.26M 34.87M 46.37M 44.18M 42.50M
Adjusted Diluted Earnings per Share		 $2.50 $2.90 $3.19 $4.40 $5.03 $3.64 $3.47 $5.69 $5.42 $4.52
Adjusted Weighted Average Diluted Shares Outstanding		 25.96M 26.46M 27.37M 27.65M 32.86M 33.29M 34.89M 46.39M 44.19M 42.51M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $5.03 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 26.29M 27.04M 27.51M 28.12M 34.33M 66.04M 94.80M 90.13M 84.89M 42.61M
Normalized Net Operating Profit after Tax (NOPAT)		 72 81 89 130 185 124 153 269 240 194
Normalized NOPAT Margin		 24.91% 26.00% 26.15% 33.71% 36.42% 25.80% 30.06% 36.98% 32.76% 28.06%
Pre Tax Income Margin		 31.70% 36.12% 39.36% 40.33% 42.90% 31.90% 30.88% 47.77% 43.10% 35.83%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 4.47 5.96 7.34 6.11 4.05 4.45 11.42 11.75 1.67 0.85
NOPAT to Interest Expense		 3.15 4.08 4.76 4.76 3.07 3.53 8.82 8.92 1.27 0.66
EBIT Less CapEx to Interest Expense		 4.02 5.43 6.31 5.76 3.81 4.26 9.60 11.12 1.58 0.78
NOPAT Less CapEx to Interest Expense		 2.70 3.54 3.73 4.41 2.83 3.34 7.00 8.28 1.18 0.59
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 40.01% 38.52% 39.04% 33.03% 32.25% 50.21% 51.85% 35.53% 40.92% 50.08%
Augmented Payout Ratio		 41.03% 39.43% 40.67% 34.15% 32.25% 128.69% 51.85% 88.58% 119.80% 66.21%

Quarterly Metrics and Ratios for Independent Bank

This table displays calculated financial ratios and metrics derived from Independent Bank's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 63.71% 32.26% 14.38% 6.10% -3.86% -11.71% -10.61% -7.12% -4.45% -0.18%
EBITDA Growth		 72.37% 24,231.71% 17.97% 1.30% -14.39% -27.61% -19.81% -15.62% -26.76% -9.06%
EBIT Growth		 75.63% 9,046.03% 15.85% 0.67% -15.70% -29.29% -23.16% -19.77% -30.99% -11.26%
NOPAT Growth		 79.71% 9,918.15% 15.35% 1.41% -15.42% -28.87% -22.00% -18.06% -29.37% -8.70%
Net Income Growth		 79.71% 4,426.62% 15.35% 1.41% -15.42% -28.87% -22.00% -18.06% -29.37% -8.70%
EPS Growth		 29.75% 1,300.00% 21.43% 7.58% -12.10% -25.00% -17.65% -14.79% -26.81% -6.35%
Operating Cash Flow Growth		 241.74% 245.07% -31.86% -6.34% -39.10% -53.61% -0.62% -27.67% -13.56% -19.84%
Free Cash Flow Firm Growth		 -940.85% 120.23% 203.75% 33.87% 5.42% -527.28% -222.02% 128.49% 132.22% 144.31%
Invested Capital Growth		 53.19% -5.38% 0.00% 24.81% 32.59% 37.12% 0.00% -3.82% -6.31% -10.19%
Revenue Q/Q Growth		 10.44% 5.17% -6.69% -2.10% 0.07% -3.41% -5.52% 1.72% 2.93% 0.91%
EBITDA Q/Q Growth		 15.40% 4.74% -16.91% 0.86% -2.48% -11.43% -7.96% 6.13% -15.35% 9.98%
EBIT Q/Q Growth		 15.66% 5.49% -18.90% 1.74% -3.15% -11.51% -11.87% 6.24% -16.69% 13.78%
NOPAT Q/Q Growth		 16.38% 7.16% -20.50% 2.28% -2.93% -9.88% -12.83% 7.45% -16.33% 16.50%
Net Income Q/Q Growth		 16.38% 7.16% -20.50% 2.28% -2.93% -9.88% -12.83% 7.45% -16.33% 16.50%
EPS Q/Q Growth		 18.94% 7.01% -19.05% 4.41% -2.82% -8.70% -11.11% 8.04% -16.53% 16.83%
Operating Cash Flow Q/Q Growth		 37.68% -13.55% -55.38% 76.36% -10.47% -34.16% -4.41% 28.36% 6.99% -38.94%
Free Cash Flow Firm Q/Q Growth		 8.58% 126.20% 1,177.31% -121.61% -30.76% -18.38% -264.75% 105.05% 47.88% 62.80%
Invested Capital Q/Q Growth		 -2.62% 2.37% -100.00% 0.00% 3.45% 5.86% -4.96% -7.60% 0.77% 1.48%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 54.46% 54.24% 48.30% 49.76% 48.50% 44.47% 43.32% 45.20% 37.18% 40.51%
EBIT Margin		 49.83% 49.98% 43.44% 45.14% 43.69% 40.03% 37.34% 39.00% 31.56% 35.58%
Profit (Net Income) Margin		 37.68% 38.40% 32.71% 34.18% 33.15% 30.93% 28.54% 30.15% 24.51% 28.29%
Tax Burden Percent		 75.63% 76.82% 75.31% 75.70% 75.88% 77.28% 76.44% 77.31% 77.65% 79.51%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 24.37% 23.18% 24.69% 24.30% 24.12% 22.72% 23.56% 22.69% 22.35% 20.49%
Return on Invested Capital (ROIC)		 10.56% 9.06% 0.00% 7.70% 7.34% 6.36% 10.38% 5.71% 4.49% 5.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 10.56% 9.06% 0.00% 7.70% 7.34% 6.36% 10.38% 5.71% 4.49% 5.00%
Return on Net Nonoperating Assets (RNNOA)		 0.62% 0.41% 0.00% 1.40% 1.43% 1.46% 3.69% 1.58% 1.28% 1.63%
Return on Equity (ROE)		 11.19% 9.47% 0.00% 9.10% 8.77% 7.82% 14.08% 7.29% 5.77% 6.63%
Cash Return on Invested Capital (CROIC)		 -31.84% 14.08% 0.00% -14.01% -20.35% -24.57% -188.44% 9.72% 11.75% 15.66%
Operating Return on Assets (OROA)		 1.98% 1.83% 0.00% 1.75% 1.69% 1.51% 1.37% 1.40% 1.12% 1.27%
Return on Assets (ROA)		 1.49% 1.41% 0.00% 1.32% 1.28% 1.17% 1.05% 1.08% 0.87% 1.01%
Return on Common Equity (ROCE)		 11.19% 9.47% 0.00% 9.10% 8.77% 7.82% 14.08% 7.29% 5.77% 6.63%
Return on Equity Simple (ROE_SIMPLE)		 6.69% 0.00% 0.00% 9.56% 9.07% 0.00% 7.84% 7.36% 6.61% 0.00%
Net Operating Profit after Tax (NOPAT)		 72 77 61 63 61 55 48 51 43 50
NOPAT Margin		 37.68% 38.40% 32.71% 34.18% 33.15% 30.93% 28.54% 30.15% 24.51% 28.29%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 35.26% 34.28% 38.63% 38.48% 37.90% 40.56% 43.69% 43.38% 43.00% 42.50%
Operating Expenses to Revenue		 48.60% 47.28% 52.69% 52.13% 53.31% 56.87% 59.68% 58.51% 57.31% 60.18%
Earnings before Interest and Taxes (EBIT)		 95 100 81 83 80 71 62 66 55 63
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 104 109 90 91 89 79 73 77 65 72
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.99 2.17 0.00 1.39 1.50 1.99 1.63 1.49 1.73 1.87
Price to Tangible Book Value (P/TBV)		 3.10 3.34 0.00 2.15 2.30 3.05 2.49 2.27 2.60 2.80
Price to Revenue (P/Rev)		 8.24 8.60 3.73 5.21 5.73 7.89 6.60 6.25 7.46 8.10
Price to Earnings (P/E)		 29.67 23.73 10.30 14.55 16.52 24.08 20.77 20.32 26.13 29.08
Dividend Yield		 2.89% 2.67% 3.41% 5.06% 4.67% 3.48% 4.32% 4.43% 3.82% 3.55%
Earnings Yield		 3.37% 4.21% 9.71% 6.87% 6.05% 4.15% 4.81% 4.92% 3.83% 3.44%
Enterprise Value to Invested Capital (EV/IC)		 1.63 2.01 0.00 1.21 1.31 1.64 1.41 1.31 1.48 1.64
Enterprise Value to Revenue (EV/Rev)		 7.02 8.27 0.00 5.99 6.76 9.25 7.73 6.79 7.80 8.80
Enterprise Value to EBITDA (EV/EBITDA)		 17.65 15.87 0.00 11.57 13.45 19.35 16.59 14.95 18.35 21.19
Enterprise Value to EBIT (EV/EBIT)		 19.36 17.31 0.00 12.70 14.82 21.45 18.56 16.94 21.10 24.55
Enterprise Value to NOPAT (EV/NOPAT)		 19.36 22.82 0.00 16.73 19.50 28.23 24.33 22.09 27.35 31.59
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.06 14.29 0.00 11.67 15.06 24.41 19.88 18.85 22.38 26.39
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 13.85 0.00 0.00 0.00 0.00 0.00 13.24 12.18 9.93
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.04 0.04 0.00 0.32 0.35 0.42 0.36 0.24 0.22 0.23
Long-Term Debt to Equity		 0.04 0.04 0.00 0.32 0.35 0.42 0.36 0.24 0.22 0.23
Financial Leverage		 0.06 0.05 0.00 0.18 0.20 0.23 0.36 0.28 0.28 0.33
Leverage Ratio		 7.49 6.73 0.00 6.88 6.85 6.68 6.70 6.72 6.61 6.58
Compound Leverage Factor		 7.49 6.73 0.00 6.88 6.85 6.68 6.70 6.72 6.61 6.58
Debt to Total Capital		 3.87% 3.78% 0.00% 23.99% 25.74% 29.62% 26.23% 19.19% 18.22% 18.98%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 3.87% 3.78% 0.00% 23.99% 25.74% 29.62% 26.23% 19.19% 18.22% 18.98%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 96.13% 96.22% 0.00% 76.01% 74.26% 70.38% 73.77% 80.81% 81.78% 81.02%
Debt to EBITDA		 0.42 0.30 0.00 2.29 2.64 3.49 3.09 2.19 2.26 2.45
Net Debt to EBITDA		 -3.05 -0.63 0.00 1.50 2.06 2.85 2.43 1.20 0.81 1.68
Long-Term Debt to EBITDA		 0.42 0.30 0.00 2.29 2.64 3.49 3.09 2.19 2.26 2.45
Debt to NOPAT		 0.46 0.43 0.00 3.30 3.82 5.09 4.54 3.23 3.37 3.65
Net Debt to NOPAT		 -3.34 -0.91 0.00 2.17 2.98 4.15 3.56 1.77 1.21 2.51
Long-Term Debt to NOPAT		 0.46 0.43 0.00 3.30 3.82 5.09 4.54 3.23 3.37 3.65
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -946 248 3,165 -684 -894 -1,059 -3,862 195 288 469
Operating Cash Flow to CapEx		 20,912.38% 5,954.62% 1,235.09% 3,739.76% 2,858.21% 850.10% 1,151.40% 1,763.34% 1,199.61% 678.32%
Free Cash Flow to Firm to Interest Expense		 -128.31 15.71 113.29 -14.82 -16.86 -17.06 -54.70 2.64 3.85 6.55
Operating Cash Flow to Interest Expense		 18.10 7.31 1.84 1.97 1.53 0.86 0.72 0.89 0.94 0.60
Operating Cash Flow Less CapEx to Interest Expense		 18.02 7.19 1.69 1.91 1.48 0.76 0.66 0.84 0.86 0.51
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.00 0.04 0.04 0.04 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 4.22 3.71 0.00 3.85 3.87 3.75 3.69 3.63 3.60 3.57
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 2,931 3,000 0.00 3,756 3,886 4,114 3,910 3,613 3,641 3,694
Invested Capital Turnover		 0.28 0.24 0.00 0.23 0.22 0.21 0.36 0.19 0.18 0.18
Increase / (Decrease) in Invested Capital		 1,018 -171 -3,104 747 955 1,114 3,910 -144 -245 -419
Enterprise Value (EV)		 4,769 6,020 0.00 4,563 5,104 6,761 5,499 4,742 5,383 6,067
Market Capitalization		 5,592 6,260 2,802 3,970 4,324 5,767 4,695 4,362 5,145 5,586
Book Value per Share		 $35.05 $35.91 $0.00 $30.69 $31.46 $31.72 $67.78 $33.56 $34.22 $34.40
Tangible Book Value per Share		 $22.46 $23.34 $0.00 $19.87 $20.50 $20.73 $44.24 $22.06 $22.74 $22.94
Total Capital		 2,931 3,000 0.00 3,756 3,886 4,114 3,910 3,613 3,641 3,694
Total Debt		 113 113 0.00 901 1,000 1,218 1,025 693 663 701
Total Long-Term Debt		 113 113 0.00 901 1,000 1,218 1,025 693 663 701
Net Debt		 -823 -240 0.00 593 780 994 804 380 239 481
Capital Expenditures (CapEx)		 0.64 1.94 4.17 2.43 2.84 6.29 4.44 3.72 5.86 6.32
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 113 113 0.00 901 1,000 1,218 1,025 693 663 701
Total Depreciation and Amortization (D&A)		 8.84 8.55 9.10 8.46 8.81 7.87 10 11 9.84 8.72
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.57 $1.68 $0.00 $1.42 $0.00 $1.26 $1.12 $1.21 $1.01 $1.18
Adjusted Weighted Average Basic Shares Outstanding		 45.84M 46.37M 0.00 44.13M 0.00 44.18M 42.55M 42.47M 42.48M 42.50M
Adjusted Diluted Earnings per Share		 $1.57 $1.68 $0.00 $1.42 $0.00 $1.26 $1.12 $1.21 $1.01 $1.18
Adjusted Weighted Average Diluted Shares Outstanding		 45.86M 46.39M 0.00 44.14M 0.00 44.19M 42.57M 42.47M 42.49M 42.51M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 45.64M 90.13M 0.00 44.14M 0.00 84.89M 42.47M 42.48M 42.49M 42.61M
Normalized Net Operating Profit after Tax (NOPAT)		 72 77 61 63 61 55 48 51 43 50
Normalized NOPAT Margin		 37.68% 38.40% 32.71% 34.18% 33.15% 30.93% 28.54% 30.15% 24.51% 28.29%
Pre Tax Income Margin		 49.83% 49.98% 43.44% 45.14% 43.69% 40.03% 37.34% 39.00% 31.56% 35.58%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 12.90 6.36 2.91 1.79 1.51 1.14 0.89 0.90 0.74 0.88
NOPAT to Interest Expense		 9.76 4.88 2.19 1.36 1.15 0.88 0.68 0.69 0.57 0.70
EBIT Less CapEx to Interest Expense		 12.81 6.24 2.76 1.74 1.46 1.04 0.82 0.85 0.66 0.79
NOPAT Less CapEx to Interest Expense		 9.67 4.76 2.04 1.30 1.09 0.78 0.61 0.64 0.50 0.61
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 45.80% 35.53% 35.34% 35.30% 37.06% 40.92% 42.69% 44.87% 48.90% 50.08%
Augmented Payout Ratio		 120.05% 88.58% 130.20% 91.96% 82.89% 119.80% 86.91% 91.41% 99.67% 66.21%

Frequently Asked Questions About Independent Bank's Financials

When does Independent Bank's financial year end?

According to the most recent income statement we have on file, Independent Bank's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Independent Bank's net income changed over the last 9 years?

Independent Bank's net income appears to be on an upward trend, with a most recent value of $192.08 million in 2024, rising from $64.96 million in 2015. The previous period was $239.50 million in 2023.

How has Independent Bank revenue changed over the last 9 years?

Over the last 9 years, Independent Bank's total revenue changed from $290.82 million in 2015 to $689.74 million in 2024, a change of 137.2%.

How much debt does Independent Bank have?

Independent Bank's total liabilities were at $16.38 billion at the end of 2024, a 0.4% decrease from 2023, and a 154.4% increase since 2015.

How much cash does Independent Bank have?

In the past 8 years, Independent Bank's cash and equivalents has ranged from $84.81 million in 2015 to $187.85 million in 2024, and is currently $187.85 million as of their latest financial filing in 2024.

How has Independent Bank's book value per share changed over the last 9 years?

Over the last 9 years, Independent Bank's book value per share changed from 29.43 in 2015 to 34.40 in 2024, a change of 16.9%.

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This page (NASDAQ:INDB) was last updated on 4/16/2025 by MarketBeat.com Staff
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This is an urgent warning for all American investors … In a matter of days, we could see a radical shift in...
Weiss Ratings | Sponsored
First look: The $3,500 iPhone
Did you hear that just before Trump's tariffs took effect, Apple sent five cargo planes packed with MacBooks a...
Stansberry Research | Sponsored
Tariffs. Volatility. Fear. Here’s the Plan.
Wall Street's panicking over tariffs. Volatility's back with a vengeance. If you've been glued to the he...
Investors Alley | Sponsored