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 robust fourth quarter for 2022, achieving net income of $77 million ($1.69 per diluted share), up from $71.9 million ($1.57 per share) in Q3. Full-year net income reached $263.8 million ($5.69 per share), a 118% increase from the previous year. Key drivers included expanded net interest margins, strong loan growth, and higher fee income. Despite a decrease in total assets to $19.3 billion, total loans increased by 1.7% quarter-over-quarter. Noninterest income rose by 14.6%, while noninterest expenses increased only slightly. The company also reported a return on average assets of 1.33% for the full year, showing significant improvement over 2021.
Independent Bank Corp. (NASDAQ: INDB) has appointed Jeffrey J. Tengel as the new CEO, succeeding Christopher Oddleifson, effective February 6, 2023. Oddleifson led the bank for two decades, during which assets grew from over
Independent Bank Corp. (INDB) will host its quarterly conference call on January 20, 2023, at 10:00 AM ET to discuss fourth quarter results. Participants can dial 888-336-7153 or pre-register for a unique PIN for immediate access. A replay will be available until January 27, 2023. Headquartered in Massachusetts, Independent Bank Corp. operates Rockland Trust, recognized for its strong customer satisfaction in New England and initiatives in diversity, equity, and inclusion. The bank serves the community through over 120 branches and offers a variety of financial services.
The Board of Directors of Independent Bank Corp. (Nasdaq: INDB) announced a dividend of $0.55 per share, payable on January 6, 2023, to shareholders of record as of December 27, 2022. This marks an 8% increase from the previous dividend, reflecting the company's commitment to deliver strong financial performance amid uncertain market conditions. Rockland Trust, the banking subsidiary, continues to excel in customer satisfaction, ranking #1 in New England retail banking, and is recognized for its community commitment and employee development initiatives.
Rockland Trust has announced a $150,000 investment in the Community Investment Tax Credit Program (CITC), aimed at aiding thirteen Community Development Corporations (CDCs) in providing essential services to local communities. The CITC encourages collaboration between residents, CDCs, and various entities to enhance economic opportunities for low to moderate-income households. Gerry Nadeau, President of Rockland Trust, emphasized the bank's commitment to supporting local economies through these partnerships.
Independent Bank Corp. (INDB) reported a net income of $71.9 million for Q3 2022, up from $61.8 million in Q2 2022, driven by improved net interest income that increased 12.2% to $162.6 million. The return on average assets and equity rose to 1.43% and 9.90%, respectively. Total assets decreased by 1.4% from the prior quarter to $19.7 billion. The company repurchased 443,000 shares in Q3, completing its repurchase program. A new stock buyback plan of $120 million is set to expire on October 19, 2023.
Independent Bank Corp. (Nasdaq: INDB) will host its third quarter 2022 earnings conference call on Friday, October 21, 2022, at 10:00 AM Eastern Time. Participants can join by dialing 888-336-7153 or register online for a unique PIN. A replay will be available until October 28, 2022, by calling 877-344-7529. Rockland Trust Company, the bank's subsidiary, was recognized in The Boston Globe's 'Top Places to Work' for the 13th consecutive year and ranked #1 in New England for customer satisfaction in retail banking in 2022.
Independent Bank Corp. (NASDAQ: INDB) has declared a $0.51 per share dividend, set to be paid on October 7, 2022. The record date for shareholders is September 26, 2022. This dividend reflects the company's ongoing commitment to returning value to its shareholders. Additionally, Rockland Trust, a subsidiary of Independent Bank Corp., received top rankings in customer satisfaction and was recognized as one of The Boston Globe's 'Top Places to Work' for 13 consecutive years.
Independent Bank Corp. (Nasdaq: INDB) reported a strong second quarter for 2022, with net income rising to $61.8 million ($1.32 per diluted share), up from $53.1 million in the first quarter. Total loans increased by $95.7 million, or 2.8%, driven by strong consumer lending; however, total assets decreased by 0.9% from the previous quarter. Net interest income also rose by 5.4% to $144.9 million, reflecting asset repricing in a rising interest rate environment. The bank's commitment to disciplined growth and strong core fundamentals was highlighted by the decrease in noninterest expenses and stable credit quality metrics.
Independent Bank Corp. (NASDAQ: INDB) will host its quarterly conference call on July 22, 2022, at 10:00 AM ET to discuss second quarter results. Dial-in access is available at 888-336-7153, or participants can pre-register online for immediate access. The call can also be accessed via the company’s website. Rockland Trust, the bank's subsidiary, has received accolades including being named one of the 'Top Places to Work' by The Boston Globe and ranked #1 in Customer Satisfaction for Retail Banking in New England in 2022. A replay of the call will be available until July 29, 2022.
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