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INDBIndependent Bank Corp.
$84.40$4.1B
Overview & Verdict
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INDB logoIndependent Bank Corp.(INDB)Earnings, Financials & Key Ratios

INDB•NASDAQ•Banking & Credit
$84.40
19.0× P/E·Price updated Jul 7, 2026
SectorFinancial ServicesIndustryRegional BanksSub-IndustryBanks with large fee businesses
AboutIndependent Bank Corp. 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 primarily in Massachusetts. The company accepts interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit. It also offers commercial and industrial, commercial real estate and construction, small business, consumer real estate, and personal loans. In addition, the company provides investment management and trust services to individuals, institutions, small businesses, and charitable institutions; Internet and mobile banking services, as well as estate settlement, financial planning, tax services, and other services; automated teller machine and debit cards; and mutual fund and unit investment trust shares, general securities, fixed and variable annuities, and life insurance products. As of December 31, 2021, it operates one hundred nineteen retail branches, two limited-service retail branches, and one mobile branch located within Barnstable, Bristol, Dukes, Essex, Middlesex, Nantucket, Norfolk, Plymouth, Suffolk, and Worcester counties in Eastern Massachusetts. The company was founded in 1907 and is headquartered in Rockland, Massachusetts.Show more
  • Net Interest Income$709M+26.2%
  • Total Revenue$1.17B+19.8%
  • Net Income$205M+6.8%
  • Return on Equity6.25%-4.1%
  • Net Interest Margin2.85%-1.9%
  • Efficiency Ratio45.06%+9.8%
  • ROA0.93%-6.6%
  • Equity / Assets14.31%-7.4%
  • Book Value per Share72.07+2.4%

INDB Price & Volume

Independent Bank Corp. (INDB) stock price & volume — 10-year historical chart

Loading chart...

Revenue Growth Masks Persistent Margin Compression Risks

Investment Thesis • Updated 2026Q1

VerdictNeutral
Growth:Accelerating
Profitability:Moderate
Financial:Healthy
Cash Flow:Mixed
Primary Risk:CRE concentration and provisioning

Key Thesis Takeaways

  • Independent Bank Corp.
  • demonstrates significant top-line momentum with net interest income reaching 212.5 million dollars in 2026Q1, yet this growth is tempered by persistent net interest margin compression that has remained between 0.7 percent and 0.9 percent over the last ten quarters.
  • While the bank maintains a stable equity-to-assets ratio of 0.14, the reliance on a 21.6 billion dollar securities portfolio for liquidity and exposure to credit-related earnings volatility warrants caution.
  • Investors should monitor whether the recent increase in capital returns, totaling 94.6 million dollars in 2026Q1, remains sustainable given the bank's moderate profitability and sensitivity to credit cycle fluctuations.

Verdict Logic

while the bank shows accelerating revenue growth, the forward P/E of 11.67 and the persistent margin compression between 0.7 percent and 0.9 percent suggest limited upside until credit provisioning stabilizes.

INDB Growth Metrics

Independent Bank Corp. (INDB) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years14.26%
5 Years18.13%
3 Years15.89%
TTM-

Profit CAGR

10 Years12.19%
5 Years11.1%
3 Years-8.05%
TTM27.49%

EPS CAGR

10 Years5.94%
5 Years4.1%
3 Years-7.87%
TTM13.51%

Return on Capital

10 Years8.54%
5 Years6.23%
3 Years5.21%
Last Year1.87%

INDB Recent Earnings

Independent Bank Corp. (INDB) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (70%)●Beat Revenue 8/12 qtrs (80%)
Q2 2026Latest
Apr 16, 2026
Metric
Actual
Est
EPS
$1.68+1.2%
$1.66
Rev
$253M+1.0%
$250M
Q1 2026
Feb 27, 2026
Metric
Actual
Est
EPS
$1.52
—
Rev
$339M
—
Q1 2026
Jan 22, 2026
Metric
Actual
Est
EPS
$1.70+3.0%
$1.65
Rev
$254M+1.7%
$250M
Q4 2025
Oct 16, 2025
Metric
Actual
Est
EPS
$1.55+0.6%
$1.54
Rev
$244M+0.5%
$243M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 16, 2026
$1.68vs $1.66+1.2%
$253Mvs $250M+1.0%
Q1 2026Feb 27, 2026
$1.52
$339M
Q1 2026Jan 22, 2026
$1.70vs $1.65+3.0%
$254Mvs $250M+1.7%
Q4 2025Oct 16, 2025
$1.55vs $1.54+0.6%
$244Mvs $243M+0.5%
Based on last 12 quarters of dataView full earnings history →

Latest INDB News

Recent stock market news and headlines for Independent Bank Corp. (INDB)

Business Wire·1 day ago
Independent Bank Corp. Announces Schedule of Second Quarter 2026 Earnings Release and Conference Call

ROCKLAND, Mass.--(BUSINESS WIRE)--Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, announced the following details for its second quarter 2026 earnings release and conference call: Earnings Release: Thursday, July 16, 2026, after the market close Conference Call (held via Webcast): Friday, July 17, 2026, at 10:00 AM Eastern Time How to Join Webcast: Participants may join the webcast by registering prior to the call via this link: https://events.q4inc.

Zacks Investment Research·Jun 22, 2026
Independent Bank Corp. (INDB) Could Be a Great Choice

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Independent Bank Corp. (INDB) have what it takes?

Business Wire·Jun 18, 2026
Independent Bank Corp. Announces Quarterly Dividend

ROCKLAND, Mass.--(BUSINESS WIRE)--The Board of Directors of Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced a $0.64 per share dividend. The dividend will be payable on July 9, 2026, to stockholders of record as of the close of business on June 29, 2026. ABOUT INDEPENDENT BANK CORP. Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered.

Zacks Investment Research·Jun 18, 2026
Is the Options Market Predicting a Spike in Independent Bank Stock?

Investors need to pay close attention to INDB stock based on the movements in the options market lately.

Peers Comparison

Key metrics vs top competitors for Independent Bank Corp. (INDB)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
INDB logoINDBIndependent Bank Corp.Current
$84.40$4.07B18.9719.82%17.57%6.25%2.49%
WSFS logoWSFSWSFS Financial Corporation
$76.24$3.97B14.98-3.05%22.64%11.38%—
NBTB logoNBTBNBT Bancorp Inc.
$49.63$2.58B14.9010.36%19.66%9.83%—
TRMK logoTRMKTrustmark Corporation
$46.23$2.71B12.4934.75%19%10.75%—
CVBF logoCVBFCVB Financial Corp.
$22.58$3.06B14.86-2.33%32.4%9.16%—
IBCP logoIBCPIndependent Bank Corporation
$35.76$736.88M10.94-0.3%22.54%14.15%—

Compare INDB vs Peers

Independent Bank Corp. (INDB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs WSFS

Most directly comparable listed peer for INDB.

Scale Benchmark

vs MCO

Larger-name benchmark to compare INDB against a more recognizable public peer.

Peer Set

Compare Top 5

vs WSFS, NBTB, TRMK, CVBF

INDB SEC Filings & Documents

Independent Bank Corp. (INDB) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jun 18, 2026·SEC

Material company update

Jun 16, 2026·SEC

Material company update

May 14, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 27, 2026·SEC

FY 2025

Feb 28, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

May 6, 2026·SEC

FY 2025

Nov 5, 2025·SEC

FY 2025

Aug 5, 2025·SEC

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INDB Frequently Asked Questions

Independent Bank Corp. (INDB) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is Independent Bank Corp. growing?

Independent Bank Corp. (INDB) grew revenue by 19.8% over the past year. This is strong growth.

Is INDB profitable?

Yes, Independent Bank Corp. (INDB) is profitable, generating $240.6M in net income for fiscal year 2025 (17.6% net margin).

Dividend & Returns
Does INDB pay dividends?

Yes, Independent Bank Corp. (INDB) pays a dividend with a yield of 2.49%. This makes it attractive for income-focused investors.

What is INDB's return on equity?

Independent Bank Corp. (INDB) has a return on equity (ROE) of 6.3%. This is below average, suggesting room for improvement.

Industry Metrics
What is Independent Bank Corp.'s net interest margin?

Independent Bank Corp. (INDB) has a net interest margin (NIM) of 2.8%. NIM has been under pressure due to interest rate environment.

What is Independent Bank Corp.'s efficiency ratio?

Independent Bank Corp. (INDB) has an efficiency ratio of 45.1%. This is excellent, indicating strong cost control.

What if you invested $1,000 in INDB back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →