INDB Q2 2024 Earnings — Independent Bank Corp. Revenue & Financial Results | Market Cap Arena

INDBIndependent Bank Corp.

$4B

Q2 2024 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$243M+6.8% YoY

Gross Profit

$164M67.8% margin

Operating Income

$66M27.4% margin

Net Income

$51M21.2% margin

EPS (Diluted)

$1.21

QoQ Revenue Growth

+3.0%

Cash Flow

Operating Cash Flow

$66M

Free Cash Flow

$62M

Stock-Based Comp.

$2M

Balance Sheet

Total Assets

$19.4B

Total Liabilities

$16.5B

Stockholders' Equity

$2.9B

Cash & Equivalents

$314M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$243M	$227M	+6.8%
Gross Profit	$164M	$176M	-6.6%
Operating Income	$66M	$83M	-19.8%
Net Income	$51M	$63M	-18.1%

Revenue Segments

Investment Advisory, Management and Administrative Service

$10M43%

Deposit Account

$6M28%

Credit Card, Merchant Discount

$3M14%

Investment Advisory, Retail Investment and Insurance Service

$1M6%

ATM Charge

$1M5%

Credit Card Income

$596,0003%

Merchant Processing

$449,0002%