Independent Bank Corp. (INDB)

Independent Bank Balance Sheet

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	187.85	187.85	224.33	352.93	2,241	1,297
Investment Securities	1,304	1,304	1,309	1,338	1,309	142.09
Trading Asset Securities	-	-	55.7	70.17	92.19	187.42
Mortgage-Backed Securities	1,435	1,435	1,617	1,787	1,352	1,017
Total Investments	2,739	2,739	2,982	3,196	2,753	1,347
Gross Loans	14,508	14,508	14,278	13,929	13,587	9,393
Allowance for Loan Losses	-169.98	-169.98	-142.22	-152.42	-146.92	-113.39
Net Loans	14,338	14,338	14,136	13,776	13,440	9,279
Property, Plant & Equipment	193.32	193.32	247.15	255.4	255.79	166.09
Goodwill	985.07	985.07	985.07	985.07	985.07	506.21
Other Intangible Assets	12.28	12.28	18.19	25.07	32.77	23.11
Loans Held for Sale	7.27	7.27	6.37	2.8	24.68	58.1
Accrued Interest Receivable	-	-	7.7	8	5	1.2
Other Receivables	-	-	5.51	5.26	5.39	4.64
Other Current Assets	4.25	4.25	4.99	3.89	3.72	2.84
Other Real Estate Owned & Foreclosed	-	-	0.11	-	-	-
Other Long-Term Assets	874.41	874.41	686.99	678.7	665.21	508.86
Total Assets	19,374	19,374	19,347	19,294	20,423	13,204
Interest Bearing Deposits	10,915	10,915	10,298	10,437	11,438	7,231
Non-Interest Bearing Deposits	4,391	4,391	4,567	5,442	5,480	3,762
Total Deposits	15,306	15,306	14,866	15,879	16,917	10,993
Short-Term Borrowings	-	-	1,214	146.67	94.25	117.96
Current Portion of Long-Term Debt	-	-	-	-	14.06	35.04
Current Portion of Leases	-	-	13.96	-	-	-
Long-Term Debt	-	-	49.98	49.89	49.79	82.47
Federal Home Loan Bank Debt, Long-Term	638.51	638.51	0.54	0.64	0.67	0.7
Long-Term Leases	-	-	42.32	-	-	-
Trust Preferred Securities	62.86	62.86	62.86	62.86	62.85	62.85
Other Long-Term Liabilities	373.09	373.09	203.41	268.42	266.29	209.43
Total Liabilities	16,380	16,380	16,452	16,407	17,405	11,502
Common Stock	0.42	0.42	0.43	0.46	0.47	0.33
Additional Paid-In Capital	1,910	1,910	1,932	2,115	2,249	945.64
Retained Earnings	1,173	1,173	1,077	934.44	766.72	716.02
Comprehensive Income & Other	-90.01	-90.01	-114.83	-163.08	2.18	40.7
Shareholders' Equity	2,993	2,993	2,895	2,887	3,018	1,703
Total Liabilities & Equity	19,374	19,374	19,347	19,294	20,423	13,204
Total Debt	701.37	701.37	1,383	260.04	221.62	299.02
Net Cash (Debt)	-481.48	-481.48	-1,103	163.06	2,111	1,185
Net Cash Growth	-	-	-	-92.28%	78.16%	-
Net Cash Per Share	-11.33	-11.33	-24.96	3.52	60.51	35.60
Filing Date Shares Outstanding	42.5	42.5	42.45	45.06	47.4	33.02
Total Common Shares Outstanding	42.5	42.5	42.87	45.64	47.35	32.97
Book Value Per Share	70.43	70.43	67.53	63.25	63.75	51.65
Tangible Book Value	1,996	1,996	1,892	1,877	2,001	1,173
Tangible Book Value Per Share	46.96	46.96	44.13	41.12	42.25	35.59

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