INDB Q1 2023 Earnings — Independent Bank Corp. Revenue & Financial Results | Market Cap Arena

INDBIndependent Bank Corp.

$4B

Q1 2023 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$213M+29.0% YoY

Gross Profit

$178M83.5% margin

Operating Income

$81M38.2% margin

Net Income

$61M28.8% margin

EPS (Diluted)

$1.36

QoQ Revenue Growth

-0.6%

Cash Flow

Operating Cash Flow

$51M

Free Cash Flow

$47M

Stock-Based Comp.

$2M

Balance Sheet

Total Assets

$19.4B

Total Liabilities

$16.6B

Stockholders' Equity

$2.8B

Cash & Equivalents

$503M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$213M	$165M	+29.0%
Gross Profit	$178M	$164M	+8.5%
Operating Income	$81M	$70M	+15.8%
Net Income	$61M	$53M	+15.3%

Revenue Segments

Investment Advisory, Management and Administrative Service

$8M40%

Deposit Account

$6M29%

Credit Card, Merchant Discount

$3M14%

Investment Advisory, Retail Investment and Insurance Service

$2M8%

ATM Charge

$938,0005%

Credit Card Income

$493,0002%

Merchant Processing

$470,0002%