​
​

Independent Bank (INDB) Revenue & Revenue Breakdown

OverviewForecastOwnershipFinancialsChartTranscripts

Independent Bank Revenue Highlights

Latest Revenue (Y)

$795.73M

Latest Revenue (Q)

$243.72M

Main Segment (Y)

Investment Advisory, Management and Administrative Service

Independent Bank Revenue by Period

Independent Bank Revenue by Year

DateRevenueChange
2023-12-31$795.73M9.32%
2022-12-31$727.92M43.46%
2021-12-31$507.41M6.27%
2020-12-31$477.45M-6.09%
2019-12-31$508.43M31.49%
2018-12-31$386.67M13.11%
2017-12-31$341.84M10.19%
2016-12-31$310.24M7.13%
2015-12-31$289.59M9.34%
2014-12-31$264.86M6.02%
2013-12-31$249.82M6.40%
2012-12-31$234.81M6.84%
2011-12-31$219.78M4.23%
2010-12-31$210.87M11.64%
2009-12-31$188.89M29.78%
2008-12-31$145.55M13.50%
2007-12-31$128.23M-0.82%
2006-12-31$129.30M-2.78%
2005-12-31$132.99M5.41%
2004-12-31$126.17M2.11%
2003-12-31$123.57M0.15%
2002-12-31$123.39M10.30%
2001-12-31$111.87M26.31%
2000-12-31$88.56M15.59%
1999-12-31$76.62M6.12%
1998-12-31$72.20M11.08%
1997-12-31$65.00M12.85%
1996-12-31$57.60M3.97%
1995-12-31$55.40M4.53%
1994-12-31$53.00M11.58%
1993-12-31$47.50M-

Independent Bank generated $795.73M in revenue during NA 2023, up 9.32% compared to the previous quarter, and up 205.79% compared to the same period a year ago.

Independent Bank Revenue by Quarter

DateRevenueChange
2024-06-30$243.72M2.51%
2024-03-31$237.74M14.76%
2023-12-31$207.17M12.95%
2023-09-30$183.42M0.07%
2023-06-30$183.30M-2.10%
2023-03-31$187.24M-6.69%
2022-12-31$200.66M5.17%
2022-09-30$190.80M10152.34%
2022-06-30$1.86M5.44%
2022-03-31$1.76M-98.84%
2021-12-31$151.71M30.17%
2021-09-30$116.55M-1.50%
2021-06-30$118.32M-2.08%
2021-03-31$120.83M2.50%
2020-12-31$117.88M-1.40%
2020-09-30$119.55M0.22%
2020-06-30$119.29M-1.20%
2020-03-31$120.74M-9.42%
2019-12-31$133.29M-2.29%
2019-09-30$136.41M1.30%
2019-06-30$134.67M29.42%
2019-03-31$104.06M0.26%
2018-12-31$103.78M4.31%
2018-09-30$99.50M4.67%
2018-06-30$95.06M7.61%
2018-03-31$88.33M-1.56%
2017-12-31$89.74M2.16%
2017-09-30$87.84M3.16%
2017-06-30$85.15M7.64%
2017-03-31$79.11M-1.75%
2016-12-31$80.51M3.11%
2016-09-30$78.08M0.59%
2016-06-30$77.63M4.87%
2016-03-31$74.02M2.57%
2015-12-31$72.16M-2.87%
2015-09-30$74.29M1.94%
2015-06-30$72.88M7.48%
2015-03-31$67.81M-1.34%
2014-12-31$68.72M3.96%
2014-09-30$66.11M3.69%
2014-06-30$63.76M-1.16%
2014-03-31$64.51M1.45%
2013-12-31$63.58M2.89%
2013-09-30$61.80M1.61%
2013-06-30$60.82M1.51%
2013-03-31$59.92M-4.12%
2012-12-31$62.49M6.01%
2012-09-30$58.95M2.32%
2012-06-30$57.61M3.32%
2012-03-31$55.76M-0.73%
2011-12-31$56.17M4.04%
2011-09-30$53.99M-2.81%
2011-06-30$55.55M2.74%
2011-03-31$54.07M-1.55%
2010-12-31$54.92M3.91%
2010-09-30$52.86M1.45%
2010-06-30$52.10M3.67%
2010-03-31$50.26M1.79%
2009-12-31$49.37M8.82%
2009-09-30$45.37M-13.28%
2009-06-30$52.32M29.31%
2009-03-31$40.46M18.49%
2008-12-31$34.15M-13.87%
2008-09-30$39.65M5.03%
2008-06-30$37.75M11.02%
2008-03-31$34.00M3.07%
2007-12-31$32.99M-

Independent Bank generated $243.72M in revenue during Q2 2024, up 2.51% compared to the previous quarter, and up 130.17% compared to the same period a year ago.

Independent Bank Revenue Breakdown

Independent Bank Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 22Dec 21Dec 20Dec 19Dec 18
ATM Charge$3.87M$2.99M$2.48M$3.22M$2.96M
Investment Advisory, Retail Investment and Insurance Service$4.06M$3.69M$2.27M$2.78M$2.71M
Deposit Account$23.37M$16.75M$15.12M$20.04M$18.33M
Investment Advisory, Management and Administrative Service$32.77M$31.62M$27.16M$25.94M$23.44M
Merchant Processing$1.53M$1.36M$1.30M$1.18M$1.40M
Credit Card, Merchant Discount$10.88M$8.86M$12.56M$18.26M$15.43M
Credit Card Income$1.83M$1.23M$778.00K--

Independent Bank's latest annual revenue breakdown by segment (product or service), as of Dec 22: Investment Advisory, Management and Administrative Service (41.85%), Deposit Account (29.84%), Credit Card, Merchant Discount (13.89%), Investment Advisory, Retail Investment and Insurance Service (5.18%), ATM Charge (4.94%), Credit Card Income (2.34%), and Merchant Processing (1.96%).

Quarterly Revenue by Product

Product/ServiceMar 24Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19Jun 19Mar 19Dec 18
Investment Advisory, Management and Administrative Service$9.08M$8.86M$8.19M$9.21M$7.83M$7.83M$7.90M$8.04M$8.15M$8.03M$7.40M$7.04M$7.00M$6.83M$6.29M$6.81M$6.63M$6.42M$6.07M$5.86M
Deposit Account$6.23M$5.51M$5.92M$5.79M$6.26M$5.83M$5.49M$5.04M$4.30M$3.82M$3.58M$3.89M$3.43M$2.83M$4.97M$5.25M$5.30M$5.08M$4.41M$4.69M
ATM Charge$1.06M$1.00M$938.00K$966.00K$1.07M$993.00K$841.00K$812.00K$817.00K$735.00K$625.00K$604.00K$708.00K$525.00K$639.00K$763.00K$939.00K$856.00K$666.00K$746.00K
Investment Advisory, Retail Investment and Insurance Service$861.00K$1.49M$1.59M$1.18M$602.00K$1.50M$769.00K$917.00K$1.03M$845.00K$902.00K$692.00K$574.00K$469.00K$540.00K$817.00K$553.00K$730.00K$679.00K$763.00K
Credit Card Income$533.00K$555.00K$493.00K$492.00K$495.00K$474.00K$372.00K$348.00K$334.00K$313.00K$236.00K$228.00K$216.00K$151.00K$183.00K-----
Credit Card, Merchant Discount$2.90M$3.01M$2.79M$2.84M$2.83M$2.74M$2.47M$2.60M$2.22M$2.14M$1.90M$1.90M$2.02M$4.54M$4.10M$4.79M$4.91M$4.83M$3.73M$4.17M
Merchant Processing$538.00K$432.00K$470.00K$394.00K$412.00K$350.00K$378.00K$338.00K$365.00K$339.00K$320.00K$299.00K$330.00K$277.00K$393.00K$341.00K$230.00K$324.00K$280.00K$395.00K

Independent Bank's latest quarterly revenue breakdown by segment (product or service), as of Mar 24: Investment Advisory, Management and Administrative Service (42.84%), Deposit Account (29.39%), Credit Card, Merchant Discount (13.67%), ATM Charge (4.98%), Investment Advisory, Retail Investment and Insurance Service (4.06%), Merchant Processing (2.54%), and Credit Card Income (2.51%).

Independent Bank Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
INDBIndependent Bank$795.73M$243.72M
BHLBBerkshire Hills Bancorp$619.08M$178.78M
NBHCNational Bank$559.33M$106.33M
EBCEastern Bankshares$557.17M$298.98M
FBNCFirst Bancorp$546.25M$145.66M
FBMSFirst Bancshares$387.64M$93.56M
BFSTBusiness First Bancshares$386.89M$81.86M
HFWAHeritage Financial$303.13M$81.65M
HONEHarborOne Bancorp$277.04M$77.21M
CATCCambridge Bancorp$218.53M$66.82M
BSRRSierra Bancorp$208.02M$52.59M
NECBNortheast Community Bancorp$135.86M$41.50M
WNEBWestern New England Bancorp$101.12M$27.84M
FNWDFinward Bancorp$96.53M$22.47M
FFNWFirst Financial Northwest$80.93M$20.09M
RMBIRichmond Mutual Ban$72.02M$21.59M
BFINBankFinancial$71.17M$16.89M
CWBCCommunity West Bancshares$61.39M$27.26M
FCAPFirst Capital$51.24M$15.02M
HMNFHMN Financial$43.48M$14.79M
FCCOFirst Community$10.42M$26.72M
CFFNCapitol Federal Financial$-184.80M$99.70M

INDB Revenue FAQ

What is Independent Bank’s yearly revenue?

Independent Bank's yearly revenue for 2023 was $795.73M, representing an increase of 9.32% compared to 2022. The company's yearly revenue for 2022 was $727.92M, representing an increase of 43.46% compared to 2021. INDB's yearly revenue for 2021 was $507.41M, representing an increase of 6.27% compared to 2020.

What is Independent Bank’s quarterly revenue?

Independent Bank's quarterly revenue for Q2 2024 was $243.72M, a 2.51% increase from the previous quarter (Q1 2024), and a 32.96% increase year-over-year (Q2 2023). The company's quarterly revenue for Q1 2024 was $237.74M, a 14.76% increase from the previous quarter (Q4 2023), and a 26.97% increase year-over-year (Q1 2023). INDB's quarterly revenue for Q4 2023 was $207.17M, a 12.95% increase from the previous quarter (Q3 2023), and a 3.25% increase year-over-year (Q4 2022).

What is Independent Bank’s revenue growth rate?

Independent Bank's revenue growth rate for the last 3 years (2021-2023) was 56.82%, and for the last 5 years (2019-2023) was 56.51%.

What are Independent Bank’s revenue streams?

Independent Bank's revenue streams in c 22 are ATM Charge, Investment Advisory, Retail Investment and Insurance Service, Deposit Account, Investment Advisory, Management and Administrative Service, Merchant Processing, Credit Card, Merchant Discount, and Credit Card Income. ATM Charge generated $3.87M in revenue, accounting 4.94% of the company's total revenue, up 29.34% year-over-year. Investment Advisory, Retail Investment and Insurance Service generated $4.06M in revenue, accounting 5.18% of the company's total revenue, up 9.94% year-over-year. Deposit Account generated $23.37M in revenue, accounting 29.84% of the company's total revenue, up 39.56% year-over-year. Investment Advisory, Management and Administrative Service generated $32.77M in revenue, accounting 41.85% of the company's total revenue, up 3.66% year-over-year. Merchant Processing generated $1.53M in revenue, accounting 1.96% of the company's total revenue, up 12.63% year-over-year. Credit Card, Merchant Discount generated $10.88M in revenue, accounting 13.89% of the company's total revenue, up 22.78% year-over-year. Credit Card Income generated $1.83M in revenue, accounting 2.34% of the company's total revenue, up 48.90% year-over-year.

What is Independent Bank’s main source of revenue?

For the fiscal year ending Dec 22, the largest source of revenue of Independent Bank was Investment Advisory, Management and Administrative Service. This segment made a revenue of $32.77M, representing 41.85% of the company's total revenue.