INDB Q1 2024 Earnings — Independent Bank Corp. Revenue & Financial Results | Market Cap Arena

INDBIndependent Bank Corp.

$4B

Q1 2024 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$236M+10.6% YoY

Gross Profit

$160M67.9% margin

Operating Income

$62M26.5% margin

Net Income

$48M20.3% margin

EPS (Diluted)

$1.12

QoQ Revenue Growth

-0.6%

Cash Flow

Operating Cash Flow

$51M

Free Cash Flow

$47M

Stock-Based Comp.

$1M

Balance Sheet

Total Assets

$19.3B

Total Liabilities

$16.4B

Stockholders' Equity

$2.9B

Cash & Equivalents

$221M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$236M	$213M	+10.6%
Gross Profit	$160M	$178M	-10.1%
Operating Income	$62M	$81M	-23.2%
Net Income	$48M	$61M	-22.0%

Revenue Segments

Investment Advisory, Management and Administrative Service

$9M43%

Deposit Account

$6M29%

Credit Card, Merchant Discount

$3M14%

ATM Charge

$1M5%

Investment Advisory, Retail Investment and Insurance Service

$861,0004%

Merchant Processing

$538,0003%

Credit Card Income

$533,0003%