​

Independent Bank (INDB) Revenue & Revenue Breakdown

OverviewForecastOwnershipFinancialsChartTranscripts

Independent Bank Revenue Highlights

Latest Revenue (Y)

$852.75M

Latest Revenue (Q)

$252.50M

Main Segment (Y)

Investment Advisory, Management and Administrative Service

Independent Bank Revenue by Period

Independent Bank Revenue by Year

DateRevenueChange
2024-12-31$852.75M7.17%
2023-12-31$795.73M9.32%
2022-12-31$727.92M43.46%
2021-12-31$507.41M6.27%
2020-12-31$477.45M-6.09%
2019-12-31$508.43M31.49%
2018-12-31$386.67M13.11%
2017-12-31$341.84M10.19%
2016-12-31$310.24M7.13%
2015-12-31$289.59M9.34%
2014-12-31$264.86M6.02%
2013-12-31$249.82M6.40%
2012-12-31$234.81M6.84%
2011-12-31$219.78M4.23%
2010-12-31$210.87M11.64%
2009-12-31$188.89M29.78%
2008-12-31$145.55M13.50%
2007-12-31$128.23M-0.82%
2006-12-31$129.30M-2.78%
2005-12-31$132.99M5.41%
2004-12-31$126.17M2.11%
2003-12-31$123.57M0.15%
2002-12-31$123.39M10.30%
2001-12-31$111.87M26.31%
2000-12-31$88.56M15.59%
1999-12-31$76.62M6.12%
1998-12-31$72.20M11.08%
1997-12-31$65.00M12.85%
1996-12-31$57.60M3.97%
1995-12-31$55.40M4.53%
1994-12-31$53.00M11.58%
1993-12-31$47.50M-

Independent Bank generated $852.75M in revenue during NA 2024, up 7.17% compared to the previous quarter, and up 167.72% compared to the same period a year ago.

Independent Bank Revenue by Quarter

DateRevenueChange
2025-06-30$252.50M4.11%
2025-03-31$242.52M-1.64%
2024-12-31$246.58M-1.16%
2024-09-30$249.46M2.83%
2024-06-30$242.59M3.01%
2024-03-31$235.51M-0.60%
2023-12-31$236.94M1.19%
2023-09-30$234.15M3.04%
2023-06-30$227.23M6.68%
2023-03-31$213.01M-0.61%
2022-12-31$214.32M9.22%
2022-09-30$196.23M12.67%
2022-06-30$174.16M5.47%
2022-03-31$165.13M7.47%
2021-12-31$153.65M30.07%
2021-09-30$118.13M-1.97%
2021-06-30$120.50M-2.59%
2021-03-31$123.70M0.37%
2020-12-31$123.24M-1.78%
2020-09-30$125.48M-2.09%
2020-06-30$128.16M-2.92%
2020-03-31$132.02M-7.54%
2019-12-31$142.78M-5.72%
2019-09-30$151.44M1.41%
2019-06-30$149.33M32.06%
2019-03-31$113.08M2.45%
2018-12-31$110.38M3.99%
2018-09-30$106.14M5.03%
2018-06-30$101.05M7.95%
2018-03-31$93.61M4.32%
2017-12-31$89.74M2.16%
2017-09-30$87.84M3.16%
2017-06-30$85.15M7.64%
2017-03-31$79.11M-1.75%
2016-12-31$80.51M3.11%
2016-09-30$78.08M0.59%
2016-06-30$77.63M4.87%
2016-03-31$74.02M2.57%
2015-12-31$72.16M-2.87%
2015-09-30$74.29M1.94%
2015-06-30$72.88M7.48%
2015-03-31$67.81M-1.34%
2014-12-31$68.72M3.96%
2014-09-30$66.11M3.69%
2014-06-30$63.76M-1.16%
2014-03-31$64.51M1.45%
2013-12-31$63.58M2.89%
2013-09-30$61.80M1.61%
2013-06-30$60.82M1.51%
2013-03-31$59.92M-4.12%
2012-12-31$62.49M6.01%
2012-09-30$58.95M2.32%
2012-06-30$57.61M3.32%
2012-03-31$55.76M-0.73%
2011-12-31$56.17M4.04%
2011-09-30$53.99M-2.81%
2011-06-30$55.55M2.74%
2011-03-31$54.07M-1.55%
2010-12-31$54.92M3.91%
2010-09-30$52.86M1.45%
2010-06-30$52.10M3.67%
2010-03-31$50.26M1.79%
2009-12-31$49.37M8.82%
2009-09-30$45.37M-13.28%
2009-06-30$52.32M29.31%
2009-03-31$40.46M18.49%
2008-12-31$34.15M-13.87%
2008-09-30$39.65M5.03%
2008-06-30$37.75M11.02%
2008-03-31$34.00M3.07%
2007-12-31$32.99M-

Independent Bank generated $252.50M in revenue during Q2 2025, up 4.11% compared to the previous quarter, and up 107.21% compared to the same period a year ago.

Independent Bank Revenue Breakdown

Independent Bank Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 24Dec 22Dec 21Dec 20Dec 19
Credit Card, Merchant Discount$12.51M$10.88M$8.86M$12.56M$18.26M
Deposit Account$26.45M$23.37M$16.75M$15.12M$20.04M
Investment Advisory, Management and Administrative Service$38.31M$32.77M$31.62M$27.16M$25.94M
Investment Advisory, Retail Investment and Insurance Service$4.43M$4.06M$3.69M$2.27M$2.78M
Merchant Processing$1.85M$1.53M$1.36M$1.30M$1.18M
ATM Charge$4.57M$3.87M$2.99M$2.48M$3.22M
Credit Card Income$2.34M$1.83M$1.23M$778.00K-

Independent Bank's latest annual revenue breakdown by segment (product or service), as of Dec 24: Investment Advisory, Management and Administrative Service (42.35%), Deposit Account (29.24%), Credit Card, Merchant Discount (13.83%), ATM Charge (5.05%), Investment Advisory, Retail Investment and Insurance Service (4.90%), Credit Card Income (2.59%), and Merchant Processing (2.04%).

Quarterly Revenue by Product

Product/ServiceJun 25Mar 25Dec 24Mar 24Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
ATM Charge$1.14M$1.03M$3.51M$1.06M$1.00M$938.00K$966.00K$1.07M$993.00K$841.00K$812.00K$817.00K$735.00K$625.00K$604.00K$708.00K$525.00K$639.00K$763.00K$939.00K
Merchant Processing$489.00K$560.00K$1.31M$538.00K$432.00K$470.00K$394.00K$412.00K$350.00K$378.00K$338.00K$365.00K$339.00K$320.00K$299.00K$330.00K$277.00K$393.00K$341.00K$230.00K
Investment Advisory, Retail Investment and Insurance Service$1.05M$1.20M$3.57M$861.00K$1.49M$1.59M$1.18M$602.00K$1.50M$769.00K$917.00K$1.03M$845.00K$902.00K$692.00K$574.00K$469.00K$540.00K$817.00K$553.00K
Investment Advisory, Management and Administrative Service$10.33M$10.02M$29.23M$9.08M$8.86M$8.19M$9.21M$7.83M$7.83M$7.90M$8.04M$8.15M$8.03M$7.40M$7.04M$7.00M$6.83M$6.29M$6.81M$6.63M
Deposit Account$7.14M$7.05M$20.23M$6.23M$5.51M$5.92M$5.79M$6.26M$5.83M$5.49M$5.04M$4.30M$3.82M$3.58M$3.89M$3.43M$2.83M$4.97M$5.25M$5.30M
Credit Card, Merchant Discount$3.35M$3.08M$9.62M$2.90M$3.01M$2.79M$2.84M$2.83M$2.74M$2.47M$2.60M$2.22M$2.14M$1.90M$1.90M$2.02M$4.54M$4.10M$4.79M$4.91M
Credit Card Income$648.00K$587.00K$1.81M$533.00K$555.00K$493.00K$492.00K$495.00K$474.00K$372.00K$348.00K$334.00K$313.00K$236.00K$228.00K$216.00K$151.00K$183.00K--

Independent Bank's latest quarterly revenue breakdown by segment (product or service), as of Jun 25: Investment Advisory, Management and Administrative Service (42.78%), Deposit Account (29.57%), Credit Card, Merchant Discount (13.89%), ATM Charge (4.71%), Investment Advisory, Retail Investment and Insurance Service (4.34%), Credit Card Income (2.68%), and Merchant Processing (2.02%).

Independent Bank Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
INDBIndependent Bank$852.75M$252.50M
BRKLBrookline Bancorp$628.52M$154.07M
NBTBNBT Bancorp$611.67M$177.58M
STBAS&T Bancorp$535.52M$142.41M
LKFNLakeland Financial$373.16M$83.46M
HONEHarborOne Bancorp$271.41M$56.98M
HTBKHeritage Commerce$9.00K$-63.56M
CHCOCity-$99.50M
EBCEastern Bankshares-$321.10M

INDB Revenue FAQ

What is Independent Bank’s yearly revenue?

Independent Bank's yearly revenue for 2024 was $852.75M, representing an increase of 7.17% compared to 2023. The company's yearly revenue for 2023 was $795.73M, representing an increase of 9.32% compared to 2022. INDB's yearly revenue for 2022 was $727.92M, representing an increase of 43.46% compared to 2021.

What is Independent Bank’s quarterly revenue?

Independent Bank's quarterly revenue for Q2 2025 was $252.5M, a 4.11% increase from the previous quarter (Q1 2025), and a 4.08% increase year-over-year (Q2 2024). The company's quarterly revenue for Q1 2025 was $242.52M, a -1.64% decrease from the previous quarter (Q4 2024), and a 2.98% increase year-over-year (Q1 2024). INDB's quarterly revenue for Q4 2024 was $246.58M, a -1.16% decrease from the previous quarter (Q3 2024), and a 4.07% increase year-over-year (Q4 2023).

What is Independent Bank’s revenue growth rate?

Independent Bank's revenue growth rate for the last 3 years (2022-2024) was 17.15%, and for the last 5 years (2020-2024) was 78.61%.

What are Independent Bank’s revenue streams?

Independent Bank's revenue streams in c 24 are Credit Card, Merchant Discount, Deposit Account, Investment Advisory, Management and Administrative Service, Investment Advisory, Retail Investment and Insurance Service, Merchant Processing, ATM Charge, and Credit Card Income. Credit Card, Merchant Discount generated $12.51M in revenue, accounting 13.83% of the company's total revenue, up 15.00% year-over-year. Deposit Account generated $26.46M in revenue, accounting 29.24% of the company's total revenue, up 13.20% year-over-year. Investment Advisory, Management and Administrative Service generated $38.31M in revenue, accounting 42.35% of the company's total revenue, up 16.89% year-over-year. Investment Advisory, Retail Investment and Insurance Service generated $4.43M in revenue, accounting 4.90% of the company's total revenue, up 9.24% year-over-year. Merchant Processing generated $1.85M in revenue, accounting 2.04% of the company's total revenue, up 20.47% year-over-year. ATM Charge generated $4.57M in revenue, accounting 5.05% of the company's total revenue, up 18.16% year-over-year. Credit Card Income generated $2.34M in revenue, accounting 2.59% of the company's total revenue, up 27.71% year-over-year.

What is Independent Bank’s main source of revenue?

For the fiscal year ending Dec 24, the largest source of revenue of Independent Bank was Investment Advisory, Management and Administrative Service. This segment made a revenue of $38.31M, representing 42.35% of the company's total revenue.