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INDEPENDENT BANK CORP (INDB)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15Dec-31-14
   10-K10-K10-K10-K10-K10-K10-K10-K
    Interest income:  
        Interest income on loans  381.4369.8411.5294.3253.1224.2214.7197.0
        Interest income on investments  30.530.132.426.522.520.920.1 
        Interest income on repurchase agreements  2.50.82.22.71.41.20.30.3
       415.3402.1447.0323.7277.2246.6235.5216.5
    Interest expense:  
        Interest on deposits  8.327.341.220.012.711.111.611.0
       13.734.3107.951.336.937.841.441.0
Net interest income  401.6367.7393.1298.2258.9227.8214.9196.0
Provision for loan losses  18.252.56.04.83.06.11.510.4
Net interest income after provision for loan losses  383.4315.2387.1293.4255.9221.8213.4185.6
        Other non-interest income  105.9111.4115.388.583.082.475.969.9
Total non-interest income  105.9111.4115.388.583.082.475.969.9
Non-interest expenses  332.5273.8284.3226.0204.4192.1197.1171.8
Pre-tax income before non-recurring items  197.5153.5244.5167.1137.9112.192.283.7
Non-recurring items  40.80.726.411.23.4   
Pre-tax income  156.7152.8218.1155.9134.5112.192.283.7
Income taxes  35.731.752.934.347.335.427.223.9
            Tax rate  22.8%20.7%24.3%22.0%35.2%31.6%29.5%28.5%
Net income  121.0121.2165.2121.687.276.665.059.8
            Net margin  24.7%28.4%32.9%31.8%25.7%25.2%22.5%23.4%
   
Basic EPS  $3.47$3.64$5.03$4.41$3.19$2.90$2.51$2.50
Diluted EPS  $3.47$3.64$5.03$4.40$3.19$2.90$2.50$2.49
   
Shares outstanding (basic)  34.933.332.827.627.326.425.923.9
Shares outstanding (diluted)  34.933.332.927.727.426.526.024.0
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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