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Independent Bank Corp INDB

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Morningstar’s Analysis

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Economic Moat

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Company Profile

Business Description

Independent Bank is a bank holding company and the sole shareholder of its bank, the Rockland Trust Company. Rockland is a community-oriented commercial bank. The bank's revenue is derived from a wide array of banking services, including lending activities, acceptance of demand, savings, and time deposits, and investment management. Rockland has historically relied heavily on both organic growth and select merger and acquisition activity to drive growth. The bank's loan portfolio constitutes the bulk of the bank's total assets. Its borrowers consist mostly of small to medium-size businesses and consumers, most of which are made to its market area in eastern Massachusetts and Rhode Island. The bank's loan portfolio is predominantly in commercial loans.

Contact
2036 Washington Street
Hanover, MA, 02339
T +1 781 878-6100
Sector Financial Services
Industry Banks - Regional
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2021
Stock Type Cyclical
Employees 1,432