INDBIndependent Bank Corp.

$4B

Q4 2023 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$237M+10.6% YoY

Gross Profit

$169M71.5% margin

Operating Income

$71M29.9% margin

Net Income

$55M23.1% margin

EPS (Diluted)

$1.26

QoQ Revenue Growth

+1.2%

Cash Flow

Operating Cash Flow

$54M

Free Cash Flow

$47M

Stock-Based Comp.

$2M

Balance Sheet

Total Assets

$19.3B

Total Liabilities

$16.5B

Stockholders' Equity

$2.9B

Cash & Equivalents

$224M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$237M	$214M	+10.6%
Gross Profit	$169M	$193M	-12.3%
Operating Income	$71M	$100M	-29.3%
Net Income	$55M	$77M	-28.9%

Revenue Segments

Investment Advisory, Management and Administrative Service

$9M42%

Deposit Account

$6M29%

Credit Card, Merchant Discount

$3M14%

ATM Charge

$1M5%

Investment Advisory, Retail Investment and Insurance Service

$947,0005%

Credit Card Income

$535,0003%

Merchant Processing

$403,0002%

INDB Q4 2023 Earnings — Independent Bank Corp. Revenue & Financial Results | Market Cap Arena