Last $42.34 USD
Change Today +0.27 / 0.64%
Volume 34.3K
INDB On Other Exchanges
As of 8:10 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

independent bank corp/ma (INDB) Snapshot

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12/26/14 - $42.56
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05/9/14 - $32.97
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independent bank corp/ma (INDB) Details

Independent Bank Corp. operates as the bank 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, installment loans, overdraft protection, auto loans, unsecured loans, and loans secured by deposit accounts, as well as loans to purchase motorcycles, recreational vehicles, or boats. It also provides telephone, mobile, and Internet 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, 12 commercial banking centers, 5 investment management offices, and 5 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.

984 Employees
Last Reported Date: 02/28/14
Founded in 1907

independent bank corp/ma (INDB) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $613.3K
Chief Financial Officer, Senior Vice Presiden...
Total Annual Compensation: $220.8K
Executive Vice President of Commercial Lendin...
Total Annual Compensation: $332.3K
Executive Vice President and Director of Reta...
Total Annual Compensation: $270.8K
Chief Operating Officer of Rockland Trust
Total Annual Compensation: $347.7K
Compensation as of Fiscal Year 2013.

independent bank corp/ma (INDB) Key Developments

Independent Bank Corp. and Rockland Trust Company Announce Demise of Benjamin A. Gilmore, II, Chair of their Compensation Committees

On October 31, 2014 Benjamin A. Gilmore, II, a long-time member of the Board of Directors of Independent Bank Corp. and Rockland Trust Company, the company's wholly-owned commercial bank subsidiary, died following a long battle with cancer. At the time of his death Mr. Gilmore served as Chair of the Compensation Committee of the Board of Directors of the company and of Rockland Trust. On December 11, 2014 the Board of Directors of the company and of Rockland Trust voted to: decrease the size of the Board of Directors of both the company and Rockland Trust from twelve to eleven; decrease the number of Class II Directors on the company's Board of Directors from five to four; and, reconstitute and appoint the Compensation Committee of the Board of Directors of the company and of Rockland Trust.

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

The Board of Directors of Independent Bank Corp. announced quarterly dividend of $0.24 per share which will be payable on January 9, 2015, to stockholders of record as of the close of business on December 29, 2014.

Independent Bank Mulls Acquisitions

Independent Bank Corp. (NasdaqGS:INDB) is looking for acquisition opportunities. Independent Bank raises $35 million and intends to use the proceeds to fund growth, acquisitions or the repayment of outstanding debt.


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Valuation INDB Industry Range
Price/Earnings 18.5x
Price/Sales 4.0x
Price/Book 1.6x
Price/Cash Flow 18.6x
TEV/Sales 1.7x

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