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Independent Bank (INDB) Revenue & Revenue Breakdown

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Independent Bank Revenue Highlights

Latest Revenue (Y)

$852.75M

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
2024-12-31$852.75M7.17%
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 $852.75M in revenue during NA 2024, up 7.17% compared to the previous quarter, and up 167.72% 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 24Dec 22Dec 21Dec 20Dec 19
Deposit Account$26.45M$23.37M$16.75M$15.12M$20.04M
Investment Advisory, Management and Administrative Service$38.31M$32.77M$31.62M$27.16M$25.94M
Investment Advisory, Retail Investment and Insurance Service$4.43M$4.06M$3.69M$2.27M$2.78M
Merchant Processing$1.85M$1.53M$1.36M$1.30M$1.18M
ATM Charge$4.57M$3.87M$2.99M$2.48M$3.22M
Credit Card Income$2.34M$1.83M$1.23M$778.00K-
Credit Card, Merchant Discount$12.51M$10.88M$8.86M$12.56M$18.26M

Independent Bank's latest annual revenue breakdown by segment (product or service), as of Dec 24: Investment Advisory, Management and Administrative Service (42.35%), Deposit Account (29.24%), Credit Card, Merchant Discount (13.83%), ATM Charge (5.05%), Investment Advisory, Retail Investment and Insurance Service (4.90%), Credit Card Income (2.59%), and Merchant Processing (2.04%).

Quarterly Revenue by Product

Product/ServiceDec 24Mar 24Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19Jun 19Mar 19
Credit Card, Merchant Discount$9.62M$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
Investment Advisory, Management and Administrative Service$29.23M$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
Credit Card Income$1.81M$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----
ATM Charge$3.51M$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
Deposit Account$20.23M$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
Merchant Processing$1.31M$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
Investment Advisory, Retail Investment and Insurance Service$3.57M$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

Independent Bank's latest quarterly revenue breakdown by segment (product or service), as of Dec 24: Investment Advisory, Management and Administrative Service (42.19%), Deposit Account (29.20%), Credit Card, Merchant Discount (13.88%), Investment Advisory, Retail Investment and Insurance Service (5.16%), ATM Charge (5.07%), Credit Card Income (2.61%), and Merchant Processing (1.89%).

Independent Bank Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
INDBIndependent Bank$852.75M$243.72M
BHLBBerkshire Hills Bancorp$613.94M$178.78M
NBHCNational Bank$538.27M$106.33M
FBNCFirst Bancorp$519.24M$145.66M
BFSTBusiness First Bancshares$414.76M$81.86M
CFFNCapitol Federal Financial$376.84M$97.62M
HFWAHeritage Financial$309.71M$81.65M
HONEHarborOne Bancorp$271.41M$77.21M
NECBNortheast Community Bancorp$160.01M$41.50M
WNEBWestern New England Bancorp$109.83M$27.84M
FFNWFirst Financial Northwest$77.37M$20.09M
FNWDFinward Bancorp$71.60M$22.47M
CWBCCommunity West Bancshares$61.39M$27.26M
BFINBankFinancial$49.20M$16.89M
FBMSFirst Bancshares$46.39M$93.56M
RMBIRichmond Mutual Ban$42.91M$21.59M
FCAPFirst Capital$42.00M$15.02M
FCCOFirst Community$14.00M$26.72M
EBCEastern Bankshares-$298.98M
BSRRSierra Bancorp-$52.59M

INDB Revenue FAQ

What is Independent Bank’s yearly revenue?

Independent Bank's yearly revenue for 2024 was $852.75M, representing an increase of 7.17% compared to 2023. The company's yearly revenue for 2023 was $795.73M, representing an increase of 9.32% compared to 2022. INDB's yearly revenue for 2022 was $727.92M, representing an increase of 43.46% compared to 2021.

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 (2022-2024) was 17.15%, and for the last 5 years (2020-2024) was 78.61%.

What are Independent Bank’s revenue streams?

Independent Bank's revenue streams in c 24 are Deposit Account, Investment Advisory, Management and Administrative Service, Investment Advisory, Retail Investment and Insurance Service, Merchant Processing, ATM Charge, Credit Card Income, and Credit Card, Merchant Discount. Deposit Account generated $26.46M in revenue, accounting 29.24% of the company's total revenue, up 13.20% year-over-year. Investment Advisory, Management and Administrative Service generated $38.31M in revenue, accounting 42.35% of the company's total revenue, up 16.89% year-over-year. Investment Advisory, Retail Investment and Insurance Service generated $4.43M in revenue, accounting 4.90% of the company's total revenue, up 9.24% year-over-year. Merchant Processing generated $1.85M in revenue, accounting 2.04% of the company's total revenue, up 20.47% year-over-year. ATM Charge generated $4.57M in revenue, accounting 5.05% of the company's total revenue, up 18.16% year-over-year. Credit Card Income generated $2.34M in revenue, accounting 2.59% of the company's total revenue, up 27.71% year-over-year. Credit Card, Merchant Discount generated $12.51M in revenue, accounting 13.83% of the company's total revenue, up 15.00% year-over-year.

What is Independent Bank’s main source of revenue?

For the fiscal year ending Dec 24, the largest source of revenue of Independent Bank was Investment Advisory, Management and Administrative Service. This segment made a revenue of $38.31M, representing 42.35% of the company's total revenue.