Independent Bank Corp - Company Profile
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Independent Bank Corp (IBNC) is a bank holding company. The Company's primary activities include providing a broad spectrum of banking, investment, and financial services. Its major offerings encompass a variety of checking and savings products, credit cards, mortgage products, home equity products, and commercial banking services. The company provides specialized banking services such as condo association banking and lending, escrow services, and government and municipal banking. Its services cater to individuals, families, and business owners, addressing their diverse financial and banking needs. The company mainly operates across the rural and suburban communities of Massachusetts, and Rhode Island, Worcester. INBC is headquartered in Rockland, Massachusetts, the US.
Headquarters
United States of America
Address
288 Union Street, Rockland, Massachusetts, 02370
Telephone
1 781 8786100
No of Employees
2,294
Industry
Financial Services
Ticker Symbol & Exchange
INDB (NASD)
Revenue (2024)
$1.2B
19.4%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
6.8%
(2024 vs 2023)
Market Cap*
$4.0B
Net Profit Margin (2024)
XYZ
-10.5%
(2024 vs 2023)
* As of and is in US$
Independent Bank Corp premium industry data and analytics
Products and Services
| Products | Services | Brands |
|---|---|---|
| Accounts: | Online Banking | Rockland |
| Savings | Mobile Banking | |
| Checking | Telephone Banking | |
| XYZ | XYZ | |
| XYZ | XYZ | |
| XYZ | XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2026 | Acquisitions/Mergers/Takeovers | In July, the bank acquired HCB Financial Corp. |
| 2026 | Regulatory Approval | In June, the company secured approval from the Federal Reserve Bank of Chicago and the Michigan Department of Insurance and Financial Services to merge with HCB Financial Corp. |
| 2025 | Contracts/Agreements | In July, the company acquired Enterprise Bancorp, Inc. |
Competitor Comparison
| Key Parameters | Independent Bank Corp | KeyCorp | Eastern Bankshares Inc | Beacon Financial Corp | Brookline Bancorp, Inc. |
|---|---|---|---|---|---|
| Headquarters | United States of America | United States of America | United States of America | United States of America | United States of America |
| City | Rockland | Cleveland | Boston | Boston | Boston |
| State/Province | Massachusetts | Ohio | Massachusetts | Massachusetts | Massachusetts |
| No. of Employees | 2,294 | 17,469 | 2,247 | 1,972 | 951 |
| Entity Type | Public | Public | Public | Public | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Jeffrey J. Tengel | Director; President; Chief Executive Officer | Executive Board | 2023 | 63 |
| Donna L. Abelli | Chairwoman | Executive Board | 2012 | 68 |
| Mark J. Ruggiero | Chief Financial Officer; Executive Vice President - Consumer Lending, Rockland Trust | Senior Management | 2019 | 48 |
| Dawn A. Mugford | Executive Vice President; Chief Risk Officer | Senior Management | 2022 | 55 |
| Timothy C. Lane | Chief Internal Auditor; Senior Vice President | Senior Management | 2020 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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