INDB Q2 2023 Earnings — Independent Bank Corp. Revenue & Financial Results | Market Cap Arena

INDBIndependent Bank Corp.

$4B

Q2 2023 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$227M+30.5% YoY

Gross Profit

$176M77.5% margin

Operating Income

$83M36.4% margin

Net Income

$63M27.6% margin

EPS (Diluted)

$1.42

QoQ Revenue Growth

+6.7%

Cash Flow

Operating Cash Flow

$91M

Free Cash Flow

$88M

Stock-Based Comp.

$2M

Balance Sheet

Total Assets

$19.4B

Total Liabilities

$16.5B

Stockholders' Equity

$2.9B

Cash & Equivalents

$308M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$227M	$174M	+30.5%
Gross Profit	$176M	$171M	+3.0%
Operating Income	$83M	$82M	+0.7%
Net Income	$63M	$62M	+1.4%

Revenue Segments

Investment Advisory, Management and Administrative Service

$9M42%

Deposit Account

$6M26%

Credit Card, Merchant Discount

$3M14%

Investment Advisory, Retail Investment and Insurance Service

$1M7%

ATM Charge

$1M5%

Credit Card Income

$555,0003%

Merchant Processing

$432,0002%