Independent Bank Corp. (INDB)

Independent Bank Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash & Equivalents	424.45	224.33	352.93	2,241	1,297	150.97
Investment Securities	1,176	1,309	1,338	1,309	142.09	161.9
Trading Asset Securities	43.71	55.7	70.17	92.19	187.42	78.39
Mortgage-Backed Securities	1,585	1,617	1,787	1,352	1,017	1,027
Total Investments	2,805	2,982	3,196	2,753	1,347	1,267
Gross Loans	14,361	14,278	13,929	13,587	9,393	8,895
Allowance for Loan Losses	-163.7	-142.22	-152.42	-146.92	-113.39	-67.74
Other Adjustments to Gross Loans	-	-	-	-	-	-21.6
Net Loans	14,197	14,136	13,776	13,440	9,279	8,806
Property, Plant & Equipment	192.2	247.15	255.4	255.79	166.09	180.27
Goodwill	985.07	985.07	985.07	985.07	506.21	506.21
Other Intangible Assets	13.7	18.19	25.07	32.77	23.11	29.29
Loans Held for Sale	16.26	6.37	2.8	24.68	58.1	33.31
Accrued Interest Receivable	7.1	7.7	8	5	1.2	1.3
Other Receivables	5.79	5.51	5.26	5.39	4.64	2.34
Other Current Assets	4.41	4.99	3.89	3.72	2.84	2.18
Other Real Estate Owned & Foreclosed	0.11	0.11	-	-	-	-
Other Long-Term Assets	727.12	686.99	678.7	665.21	508.86	402.1
Total Assets	19,408	19,347	19,294	20,423	13,204	11,395
Interest Bearing Deposits	10,922	10,298	10,437	11,438	7,231	5,821
Institutional Deposits	-	-	-	-	-	663.65
Non-Interest Bearing Deposits	4,519	4,567	5,442	5,480	3,762	2,663
Total Deposits	15,441	14,866	15,879	16,917	10,993	9,147
Short-Term Borrowings	79.83	1,214	146.67	94.25	117.96	53.92
Current Portion of Long-Term Debt	-	-	-	14.06	35.04	104.98
Current Portion of Leases	-	13.96	-	-	-	-
Long-Term Debt	-	49.98	49.89	49.79	82.47	124.51
Federal Home Loan Bank Debt, Long-Term	600.52	0.54	0.64	0.67	0.7	10.77
Long-Term Leases	-	42.32	-	-	-	-
Trust Preferred Securities	62.86	62.86	62.86	62.85	62.85	62.85
Other Long-Term Liabilities	246.74	203.41	268.42	266.29	209.43	182.63
Total Liabilities	16,431	16,452	16,407	17,405	11,502	9,687
Common Stock	0.42	0.43	0.46	0.47	0.33	0.34
Additional Paid-In Capital	1,907	1,932	2,115	2,249	945.64	1,035
Retained Earnings	1,147	1,077	934.44	766.72	716.02	654.18
Comprehensive Income & Other	-77.2	-114.83	-163.08	2.18	40.7	18.17
Shareholders' Equity	2,977	2,895	2,887	3,018	1,703	1,708
Total Liabilities & Equity	19,408	19,347	19,294	20,423	13,204	11,395
Total Debt	743.21	1,383	260.04	221.62	299.02	357.03
Net Cash (Debt)	-275.05	-1,103	163.06	2,111	1,185	-127.67
Net Cash Growth	-	-	-92.28%	78.16%	-	-
Net Cash Per Share	-6.43	-24.96	3.52	60.51	35.60	-3.89
Filing Date Shares Outstanding	42.49	42.45	45.06	47.4	33.02	34.33
Total Common Shares Outstanding	42.48	42.87	45.64	47.35	32.97	34.38
Book Value Per Share	70.08	67.53	63.25	63.75	51.65	49.69
Tangible Book Value	1,978	1,892	1,877	2,001	1,173	1,173
Tangible Book Value Per Share	46.57	44.13	41.12	42.25	35.59	34.11

Source: S&P Capital IQ. Banks template. Financial Sources.