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Independent Bank Corp. - INDB STOCK NEWS

Welcome to our dedicated page for Independent Bank news (Ticker: INDB), a resource for investors and traders seeking the latest updates and insights on Independent Bank stock.

Independent Bank Corp/MA (symbol: INDB) is a leading bank holding company, owning Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. With approximately $7.1 billion in assets, Independent Bank Corp. serves as a cornerstone in the financial sector of Eastern Massachusetts and Rhode Island.

Rockland Trust Company offers a comprehensive range of banking, investment, and insurance services. These services are tailored to meet the needs of both businesses and individuals, accessible through a network of retail branches, commercial lending offices, investment management offices, and residential lending centers. The institution also provides convenient banking options via telephone, mobile, and online platforms.

As a community-oriented bank, Rockland Trust places significant emphasis on building enduring relationships with its clients, encapsulated in its motto, “where each relationship matters®.” The majority of the bank's loan portfolio is concentrated in commercial loans, primarily serving small to medium-sized businesses and consumers within its market area.

Recent achievements of Independent Bank Corp. include strategic expansions and enhancements in digital banking, reflecting its commitment to providing innovative and accessible financial solutions. The bank continues to strengthen its financial condition through prudent loan management and robust customer service.

Rockland Trust is a member of the Federal Deposit Insurance Corporation (FDIC) and an equal housing lender, ensuring that all customers receive fair and equitable treatment. The bank's dedication to community service and customer satisfaction makes it a pivotal institution in the regional banking landscape.

For further information and updates, please visit their official website at www.rocklandtrust.com.

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Independent Bank Corp. (INDB) reported Q2 2024 net income of $51.3 million, or $1.21 per diluted share, up from $47.8 million in Q1. The company saw positive momentum across core financial components, with total assets increasing 0.4% to $19.4 billion. Loans grew by 0.5% to $14.4 billion, driven by commercial and industrial portfolios. Deposits rose 2.4% to $15.4 billion, with growth across all segments. The net interest margin improved slightly to 3.25%, while noninterest income increased by 8.0%. Asset quality remained stable, with the allowance for credit losses at 1.05% of total loans. The company's book value per share increased to $68.74, and tangible book value per share rose to $45.19.

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Independent Bank Corp. (Nasdaq: INDB), the parent company of Rockland Trust, has announced its second-quarter earnings conference call will be held on July 19, 2024, at 10:00 AM Eastern Time. The call can be accessed by dialing 888-336-7153 with the reference code INDB. Pre-registration for the conference is available online, offering a unique PIN for immediate access. A replay of the call will be accessible until July 26, 2024, via 877-344-7529 with replay conference number 3664959. The webcast will be available on the company's website until July 19, 2025. Independent Bank Corp. provides a variety of banking, investment, and insurance services through their retail branches and offices across Massachusetts and Rhode Island, and they offer extensive mobile and online banking services.

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Independent Bank Corp. (NASDAQ: INDB), the parent company of Rockland Trust, announced a quarterly cash dividend of $0.57 per share. The dividend is scheduled to be paid on July 8, 2024, to shareholders who are recorded by the close of business on July 1, 2024. Rockland Trust offers a wide range of banking, investment, and insurance services across Massachusetts and Rhode Island. The bank also provides mobile, online, and telephone banking services, ensuring convenient access for customers. Rockland Trust is an FDIC member and an Equal Housing Lender.

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Independent Bank Corp. (INDB) reported first-quarter net income of $47.8 million, with a return on average assets of 1.00% and a return on average common equity of 6.63%. Total assets remained steady at $19.3 billion, with loan and deposit growth. Net interest income decreased to $137.4 million, while noninterest income and expenses saw fluctuations. Asset quality remained stable, with minimal net charge-offs and slight increases in nonperforming loans. The company's conference call to discuss earnings will be held on April 19, 2024.
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Independent Bank Corp. (INDB) to host quarterly conference call to discuss first quarter results. The parent company of Rockland Trust Company offers a wide range of banking, investment, and insurance services to individuals, families, and businesses. Internet access and replay options available.
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Independent Bank Corp. (INDB) increases dividend by $0.02 per share, reflecting a 4% increase from the prior quarter. The dividend of $0.57 per share will be payable on April 5, 2024, to stockholders of record as of April 1, 2024. The company's strong capital position and long-term value creation drive the dividend increase.
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Independent Bank Corp. executives to participate in the 2024 RBC Capital Markets Global Financial Institutions Conference. The company, INDB, is the holding company for Rockland Trust Company, offering a wide range of banking services in Massachusetts and Rhode Island.
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Independent Bank Corp. (INDB) executives are set to participate in the 2024 KBW Winter Financial Services Conference, showcasing the company's strong presence in Massachusetts and Rhode Island. Rockland Trust, the company's subsidiary, has been recognized for its commitment to equity and inclusion, community involvement, and outstanding performance in its most recent Community Reinvestment Act evaluation.
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Independent Bank Corp. (INDB) reported a decrease in net income for the 2023 fourth quarter and full year compared to the prior year. The company generated a return on average assets and a return on average common equity of 1.13% and 7.51%, respectively, for the fourth quarter of 2023. Total assets remained consistent at $19.3 billion. The company executed a $100 million stock repurchase plan during the fourth quarter of 2023, buying back 1.3 million shares of common stock for $69.0 million. Net interest income for the fourth quarter of 2023 decreased 3.2% to $145.1 million compared to the prior quarter, and noninterest income decreased by 4.4%. Noninterest expense increased by 3.0% in the fourth quarter of 2023 compared to the prior quarter. The provision for credit losses was consistent with the prior quarter at $5.5 million, and net charge-offs declined to $3.8 million for the fourth quarter of 2023 compared to $5.6 million in the prior quarter.
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Independent Bank Corp. (INDB) to Host Quarterly Conference Call to Discuss Fourth Quarter Results
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FAQ

What does Independent Bank Corp/MA do?

Independent Bank Corp/MA is the holding company for Rockland Trust Company, providing a wide range of banking, investment, and insurance services.

Where is Rockland Trust Company headquartered?

Rockland Trust Company is headquartered in Massachusetts.

What services does Rockland Trust offer?

Rockland Trust offers banking, investment, and insurance services to businesses and individuals through various channels including retail branches and online banking.

What areas does Rockland Trust serve?

Rockland Trust serves Eastern Massachusetts, Worcester County, and Rhode Island.

What type of loans does Rockland Trust specialize in?

Rockland Trust's loan portfolio predominantly consists of commercial loans primarily made to small to medium-sized businesses.

Is Rockland Trust a member of FDIC?

Yes, Rockland Trust is a member of the Federal Deposit Insurance Corporation (FDIC).

Does Rockland Trust offer online banking?

Yes, Rockland Trust provides online banking services through its website and mobile applications.

How does Rockland Trust ensure fair treatment of customers?

Rockland Trust is an equal housing lender, ensuring fair and equitable treatment of all customers.

What is the significance of the motto 'where each relationship matters®'?

The motto signifies Rockland Trust's commitment to building lasting and meaningful relationships with its clients.

How can I learn more about Rockland Trust?

For more information, you can visit their official website at www.rocklandtrust.com.

Independent Bank Corp.

Nasdaq:INDB

INDB Rankings

INDB Stock Data

2.47B
42.47M
1.16%
83.8%
1.78%
Commercial Banking
Finance and Insurance
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United States of America
ROCKLAND