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Last $45.30 USD
Change Today -0.05 / -0.11%
Volume 80.3K
As of 8:10 PM 10/6/15 All times are local (Market data is delayed by at least 15 minutes).

independent bank corp/ma (INDB) Snapshot

Previous Close
Day High
Day Low
52 Week High
07/21/15 - $50.61
52 Week Low
10/7/14 - $35.34
Market Cap
Average Volume 10 Days
Shares Outstanding
Dividend Yield

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independent bank corp/ma (INDB) Details

Independent Bank Corp. operates as the holding company for Rockland Trust Company that provides banking products and services primarily to small-to-medium sized businesses and individuals in Massachusetts. Its deposit products include demand deposits, interest checking accounts, money market accounts, savings accounts, and time certificates of deposit. The company’s loan product portfolio comprises commercial loans, such as commercial and industrial loans, asset-based loans, commercial real estate loans, commercial construction loans, and small business loans; and consumer loans, including residential real estate loans, home equity loans and lines, installment loans, overdraft protection, education loans, auto loans, unsecured loans, and loans secured by deposit accounts, as well as loans to purchase or refinance automobiles, motorcycles, boats, or recreational vehicles. It also provides Internet and mobile banking services; insurance services; and investment management and trust services to individuals, institutions, small businesses, and charitable institutions. The company operates through 75 full service and 3 limited service retail branches, 11 commercial banking centers, 5 investment management offices, and 3 mortgage lending centers in Eastern Massachusetts; and an investment management group/commercial lending office in Rhode Island. Independent Bank Corp. was founded in 1907 and is headquartered in Rockland, Massachusetts.

980 Employees
Last Reported Date: 02/27/15
Founded in 1907

independent bank corp/ma (INDB) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $659.2K
Chief Financial Officer, Treasurer, Chief Fin...
Total Annual Compensation: $277.4K
Executive Vice President of Commercial Lendin...
Total Annual Compensation: $359.4K
Executive Vice President and Director of Reta...
Total Annual Compensation: $289.7K
Compensation as of Fiscal Year 2014.

independent bank corp/ma (INDB) Key Developments

Independent Bank Corp. Announces Quarterly Dividend, Payable on October 9, 2015

The Board of Directors of Independent Bank Corp. announced a $0.26 per share dividend which will be payable on October 9, 2015, to stockholders of record as of the close of business on September 28, 2015.

Independent Bank Mulls Acquisitions

Independent Bank Corp. (NasdaqGS:INDB) is seeking acquisitions. Independent Bank has filed a shelf registration process to sell securities. Independent Bank intends to use the net proceeds from the sale of securities for general corporate purposes, which also includes financing of possible acquisitions.

Independent Bank Corp. Approves Amendments to the Amended and Restated By-Laws; Reaffirms Earnings Guidance for the Year 2015

On July 16, 2015, the board of directors of Independent Bank Corp. approved amendments to the company's amended and restated By-laws and the restated articles of organization, as amended by the Articles of Amendment filed with the Secretary of State of The Commonwealth of Massachusetts on May 26, 2015. The By-Laws have been amended primarily for purposes of updating outdated language and bringing certain provisions in line with the Massachusetts Business Corporation Act (MBCA). The amendments to the By-Laws include, among others, the deletion of Article Three, Section 15 providing for honorary directors; the revision of Article Two, Section 5 to conform the definition of quorum to the language in the MBCA; clarification in Article Four, Section 5 of the procedure for removal of an officer, including authorization for removal of an officer by the CEO; clarification in Article Five of certain matters related to the issuance of stock and stock certificates; and amendment of Article Ten to address the provision in the MBCA regarding director conflicts of interest. The company reaffirmed 2015 operating diluted earnings per share guidance of between $2.63 and $2.73 and now with the first half of 2015 behind it, the company expects to be at the upper end of that range. It expects full-year results from net charge-offs and loan-loss provision to be $1 million - $2 million and $2 million - $3 million respectively.


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Industry Average

Valuation INDB Industry Range
Price/Earnings 19.2x
Price/Sales 4.4x
Price/Book 1.6x
Price/Cash Flow 20.3x
TEV/Sales 1.4x

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