Independent Bank (Independent Bank) Net Interest Income (for Banks) : $585.0 Mil (As of Dec. 2023)

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What is Independent Bank Net Interest Income (for Banks)?

Net interest income is the income earned by banks from the fund they have on their balance sheet. Independent Bank's net interest income for the three months ended in Dec. 2023 was $145.1 Mil. Its net interest income for the trailing twelve months (TTM) ended in Dec. 2023 was $585.0 Mil.

Independent Bank's quarterly net interest income declined from Jun. 2023 ($152.5 Mil) to Sep. 2023 ($149.9 Mil) and declined from Sep. 2023 ($149.9 Mil) to Dec. 2023 ($145.1 Mil).

Independent Bank's annual net interest income increased from Dec. 2021 ($401.6 Mil) to Dec. 2022 ($613.2 Mil) but then declined from Dec. 2022 ($613.2 Mil) to Dec. 2023 ($606.5 Mil).

Independent Bank Net Interest Income (for Banks) Historical Data

The historical data trend for Independent Bank's Net Interest Income (for Banks) can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Independent Bank Net Interest Income (for Banks) Chart

Independent Bank Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Net Interest Income (for Banks)

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393.14

367.73

401.56

613.25

606.52

Independent Bank Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Net Interest Income (for Banks)	Get a 7-Day Free Trial															159.00	152.55	149.88	145.10	137.44

Independent Bank Net Interest Income (for Banks) Calculation

Income earned by banks from the fund they have on their balance sheet. These funds can be from customers' deposit, bank's own equity or borrowed.

Net Interest Income (for Banks) for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $585.0 Mil.

Independent Bank (Independent Bank) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Independent Bank Corp (NAS:INDB) » Definitions » Net Interest Income (for Banks)

Comparable Companies

Traded in Other Exchanges

N/A

Address

2036 Washington Street, Hanover, MA, USA, 02339

Website

https://www.rocklandtrust.com

Independent Bank is a bank holding company and the sole shareholder of its bank, the Rockland Trust Company. Rockland is a community-oriented commercial bank. The bank's revenue is derived from a wide array of banking services, including lending activities, acceptance of demand, savings, and time deposits, and investment management. Rockland has historically relied heavily on both organic growth and select merger and acquisition activity to drive growth. The bank's loan portfolio constitutes the bulk of the bank's total assets. Its borrowers consist mostly of small to medium-size businesses and consumers, most of which are made to its market area in eastern Massachusetts and Rhode Island. The bank's loan portfolio is predominantly in commercial loans.

Executives

John J Morrissey	director	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Jeffrey J Tengel	director, officer: Chief Executive Officer	1900 EAST NINTH STREET, CLEVELAND OH 44114
Lee C Powlus	officer: Chief Tech & Operations Off.	850 MAIN STREET, BRIDGEPORT CT 06604
Patricia M Natale	officer: General Counsel
Barry H Jensen	officer: Chief Information Officer	INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Mark J Ruggiero	officer: Principal Accounting Officer	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Scott Smith	director	320 NORWOOD PARK SOUTH, NORWOOD MA 02062
Maureen A. Gaffney	officer: Principal Accounting Officer	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Christopher Oddleifson	director, officer: President and CEO
Eileen C Miskell	director	C/O INDEPENDENT BANK CORP, 288 UNION STREET, ROCKLAND MA 02370
Edward H Seksay	officer: General Counsel	C/O INDEPENDENT BANK CORP, 288 UNION STREET, ROCKLAND MA 02370
Robert D Cozzone	officer: CFO and Treasurer	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Dawn Mugford	officer: Chief Risk Officer	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Donna L Abelli	director	INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Gerard F Nadeau	officer: Executive Vice President	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370