INDEPENDENT BANK CORP
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 28, 2024
INDB$84.81-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Stockholders' Equity
| Common Stock Outstanding | Common Stock | Value of Shares Held in Rabbi Trust at Cost | Deferred Compensation Obligation | Additional Paid in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | |
|---|---|---|---|---|---|---|---|---|
| (Dollars in thousands, except per share data) | ||||||||
| Balance December 31, 2020 | 32,965,692 | $328 | $(3,066) | $3,066 | $945,638 | $716,024 | $40,695 | $1,702,685 |
| Net income | — | — | — | — | — | 120,992 | — | 120,992 |
| Other comprehensive loss | — | — | — | — | — | — | (38,512) | (38,512) |
| Common dividend declared ($1.92 per share) | — | — | — | — | — | (70,300) | — | (70,300) |
| Common stock issued for acquisition | 14,299,720 | 143 | — | — | 1,298,415 | — | — | 1,298,558 |
| Proceeds from exercise of stock options, net of cash paid | 4,744 | — | — | — | (57) | — | — | (57) |
| Stock based compensation | — | — | — | — | 4,309 | — | — | 4,309 |
| Restricted stock awards issued, net of awards surrendered | 53,768 | 1 | — | — | (1,250) | — | — | (1,249) |
| Shares issued under direct stock purchase plan | 25,854 | — | — | — | 2,023 | — | — | 2,023 |
| Deferred compensation and other retirement benefit obligations | — | — | (80) | 80 | — | — | — | — |
| Balance December 31, 2021 | 47,349,778 | $472 | $(3,146) | $3,146 | $2,249,078 | $766,716 | $2,183 | $3,018,449 |
| Net income | — | — | — | — | — | 263,813 | — | 263,813 |
| Other comprehensive loss | — | — | — | — | — | — | (165,267) | (165,267) |
| Common dividend declared ($2.08 per share) | — | — | — | — | — | (96,087) | — | (96,087) |
| Stock based compensation | — | — | — | — | 4,464 | — | — | 4,464 |
| Restricted stock awards issued, net of awards surrendered | 49,016 | 1 | — | — | (1,085) | — | — | (1,084) |
| Shares issued under direct stock purchase plan | 29,409 | — | — | — | 2,359 | — | — | 2,359 |
| Shares repurchased under share repurchase program | (1,786,965) | (18) | — | — | (139,928) | — | — | (139,946) |
| Deferred compensation and other retirement benefit obligations | — | — | (81) | 81 | — | — | — | — |
| Balance December 31, 2022 | 45,641,238 | $455 | $(3,227) | $3,227 | $2,114,888 | $934,442 | $(163,084) | $2,886,701 |
| Net income | — | — | — | — | — | 239,502 | — | 239,502 |
| Other comprehensive income | — | — | — | — | — | — | 48,257 | 48,257 |
| Common dividend declared ($2.20 per share) | — | — | — | — | — | (96,456) | — | (96,456) |
| Proceeds from exercise of stock options, net of cash paid | 3,238 | — | — | — | 81 | — | — | 81 |
| Stock based compensation | — | — | — | — | 6,377 | — | — | 6,377 |
| Restricted stock awards issued, net of awards surrendered | 82,181 | 1 | — | — | (1,136) | — | — | (1,135) |
| Shares issued under direct stock purchase plan | 46,963 | — | — | — | 2,682 | — | — | 2,682 |
| Shares repurchased under share repurchase program (1) | (2,900,433) | (29) | — | — | (190,729) | — | — | (190,758) |
| Deferred compensation and other retirement benefit obligations | — | — | (71) | 71 | — | — | — | — |
| Balance December 31, 2023 | 42,873,187 | $427 | $(3,298) | $3,298 | $1,932,163 | $1,077,488 | $(114,827) | $2,895,251 |
(1)Inclusive of $1.8 million impact of excise tax attributable to shares repurchased under the share repurchase program during the year ended December 31, 2023.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.