Welcome to our dedicated page for Independent Bank Corp/MA news (Ticker: INDB), a resource for investors and traders seeking the latest updates and insights on Independent Bank Corp/MA 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.
Independent Bank Corp. (INDB) reported a first quarter net income of $61.2 million, or $1.36 per diluted share, down from $77.0 million or $1.69 per share in Q4 2022. This decline resulted from rising interest expenses due to increased deposit costs and borrowings amid reduced deposit balances. The company’s return on average assets and common equity fell to 1.30% and 8.63%, respectively. Total assets stood at $19.4 billion, a 0.8% increase from the previous quarter but a 3.6% decrease year-over-year. Loans rose slightly to $13.9 billion, while deposits fell by 3.8% to $15.3 billion. Noninterest income also dropped 12.6% to $28.2 million. The bank managed its liquidity by increasing borrowings significantly. Despite share repurchases, the book value per share increased by 1.5% to $64.17.
Independent Bank Corp. (NASDAQ: INDB) will host its quarterly conference call on April 21, 2023, at 10:00 AM ET to discuss the first quarter results. Participants can access the call by dialing 888-336-7153 or pre-registering for a unique PIN to join. A replay will be available until April 28, 2023, by calling 877-344-7529.
Independent Bank Corp. is the parent of Rockland Trust Company, a Massachusetts-based full-service commercial bank recognized in The Boston Globe's 2022
The Board of Directors of Independent Bank Corp. (Nasdaq: INDB) has declared a dividend of $0.55 per share, set to be paid on April 6, 2023, to shareholders of record by the close of business on March 27, 2023. This ongoing dividend demonstrates the bank's commitment to returning value to its shareholders. Independent Bank Corp., the parent of Rockland Trust Company, has been recognized for exceptional customer satisfaction in retail banking in New England and has received accolades for workplace culture and community commitment, reflecting its strong operational performance.
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