Independent Bank Corp. functions as the parent company for Rockland Trust Company, delivering a wide array of commercial banking products and services. ...
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Est. EPS $1.85 · Revenue $262.61M · 5 analysts
Est. EPS $1.81
Est. EPS $1.93 · Revenue $266.59M · 4 analysts
Est. EPS $7.17 · Revenue $1.03B · 5 analysts
$2.46 per share
$2.46 per share
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $1.2B | +19.8% | -0.3% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $205.1M | +6.8% | +2.4% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +67.9% | +2.3% | -0.4% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +22.9% | -9.9% | +1.9% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +17.6% | -10.9% | +2.7% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $239.5M | +14.3% | -40.0% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +20.5% | -4.6% | -39.8% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 25.3% | +7.9% | -8.9% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 0.55x | +2204.6% | -80.3% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $24.9B | +28.6% | +0.8% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 4.45 vs 5.54 | -19.7% | 1.70 vs 1.79 | -4.8% |
| Revenue Surprise | $1.2B vs $853.5M | +36.7% | $289.3M vs $258.4M | +11.9% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 28, 2026 | MISKELL EILEEN C | director | Common Stock | D | 842 | — |
| Aug 25, 2026 | Venables Thomas R | director | Common Stock | D | 3,750 | $83.00 |
| Aug 3, 2026 | Nadeau Gerard F | director | Common Stock | D | 5,307 | $84.69 |
| May 19, 2026 | O'DAY SUSAN PERRY | director | Common Stock | A | 842 | — |
| May 19, 2026 | MORTON JAMES O'SHANNA | director | Common Stock | A | 842 | — |
Operator: Hello, everyone. Thank you for joining us, and welcome to the Independent Bank Corp Second Quarter 2026 Earnings Call. Joining me on today's call is Jeff Tengel, CEO, and Mark Ruggiero, CFO. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. Before proceeding, please note that during this call, we will be making forward-looking statements. Actual results may differ materially from these statements due to a number of factors, including those described in our earnings release and other SEC filings. We undertake no obligation to publicly update any such statements. In addition, some of our discussion today may include references to certain non-GAAP financial measures. Operator: Information about these non-GAAP measures, including reconciliation to GAAP measures, may be found in our earnings release and other SEC filings. These SEC filings can be accessed via the investor relations section of our website. Finally, please note that this event is being recorded. I would now like to turn the conference over to Jeff Tengel, CEO. Please go ahead. Jeff Tengel: Thank you. Good morning, thanks for joining us today. I'm accompanied this morning by CFO and head of consumer lending, Mark Ruggiero. Before we discuss our quarterly results, I wanted to share an update on my health. We released an 8-K in February disclosing that I had been diagnosed with non-Hodgkin's lymphoma. I'm happy to report that I've finished my treatments and learned last Friday that I am cancer-free and in remission. On that good note, I'd like to turn to our quarterly results. While activity was slow early in the second quarter, momentum accelerated as the quarter progressed, resulting in solid deposit growth, strong C&I loan growth, continued improvement in the adjusted NIM, aggressive buyback activity, and excellent results in our wealth management business. These positives were offset by a smaller average balance sheet and lower loan accretion income. Jeff Tengel: Our deposit franchise continued to differentiate itself, producing over $300 million of non-time deposits, representing 7% annualized growth while maintaining a stable cost of deposits of 136. These results were achieved in an environment of heightened competition and expectations that the Fed will keep rates higher for longer. On the lending front, we experienced robust growth in the C&I and home equity portfolios, offset by heavy loan payoffs within the CRE book. With respect to C&I, excluding the impact of the $37 million decrease in our dealer floor plan business, which we have now largely exited, our C&I loans rose by $116 million, a healthy 10% on an annualized basis. This growth was broad-based across all of our market segments. Jeff Tengel: Investment CRE and construction loans conversely declined to $176 million during the quarter, primarily reflecting …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Jeffrey J. Tengel | President, Chief Executive Officer & Director | USD 2,512,644 | Male | 1963 | Active |
Mark J. Ruggiero | Chief Financial Officer | USD 1,274,985 | Male | 1977 | Active |
Lee C. Powlus | Executive VP & Chief Administrative Officer of Rockland Trust Company | USD 877,039 | Male | 1961 | Active |
Patricia Natale | Executive Vice President, General Counsel & Corporate Secretary | USD 850,351 | Female | 1966 | Active |
James Rizzo | Executive Vice President & Chief Commercial Banking Officer of Rockland Trust Company | USD 841,581 | Male | 1963 | Active |
Maria S. Harris | Executive Vice President & Chief Human Resource Officer of Rockland Trust Company | USD 611,876 | Female | 1971 | Active |
Maureen A. Gaffney | Senior Vice President, Controller & Principal Accounting Officer | — | Female | 1979 | Active |
Timothy C. Lane | Executive VP & Chief Internal Auditor | — | Male | — | Active |
Alastair Ironside | Executive Vice President & Chief Marketing Officer | — | Male | — | Active |
David Byron Smith | Executive Vice President & Chief Investment Officer | — | Male | — | Active |
BlackRock Inc. purchased a new stake in Independent Bank Corp. (NASDAQ: INDB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,979,611 shares of the bank's stock, valued at approximately $584,333,000. BlackRock Inc. owned about 14.44% of Independent Bank as of its most
First Trust Advisors LP lifted its holdings in Independent Bank Corp. (NASDAQ: INDB) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 377,302 shares of the bank's stock after buying an additional 6,840 shares during the period.
Independent Bank Corp. (INDB) Q2 2026 Earnings Call Transcript
Independent Bank NASDAQ: INDB reported second-quarter 2026 net income of $81.8 million, or $1.70 per diluted share, as executives said stronger deposit momentum, C&I lending growth, margin expansion and share repurchases supported profitability despite pressure from commercial real estate payoffs.
The headline numbers for Independent Bank Corp. (INDB) give insight into how the company performed in the quarter ended June 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
