INDB Q3 2023 Earnings — Independent Bank Corp. Revenue & Financial Results | Market Cap Arena

INDBIndependent Bank Corp.

$4B

Q3 2023 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$234M+19.3% YoY

Gross Profit

$176M75.0% margin

Operating Income

$80M34.2% margin

Net Income

$61M26.0% margin

EPS (Diluted)

$1.38

QoQ Revenue Growth

+3.0%

Cash Flow

Operating Cash Flow

$81M

Free Cash Flow

$78M

Stock-Based Comp.

$1M

Balance Sheet

Total Assets

$19.4B

Total Liabilities

$16.5B

Stockholders' Equity

$2.9B

Cash & Equivalents

$220M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$234M	$196M	+19.3%
Gross Profit	$176M	$186M	-5.5%
Operating Income	$80M	$95M	-15.7%
Net Income	$61M	$72M	-15.4%

Revenue Segments

Investment Advisory, Management and Administrative Service

$9M41%

Deposit Account

$6M28%

Credit Card, Merchant Discount

$3M14%

Investment Advisory, Retail Investment and Insurance Service

$2M7%

ATM Charge

$1M6%

Credit Card Income

$536,0003%

Merchant Processing

$370,0002%