The financials
Independent Bank Corp. by the numbers
Independent Bank Corp. (INDB) reported revenue of $290M in Q1 2026 (quarter ended March 31, 2026), up 37% from the same quarter a year earlier. That came with net income of $80M (28% of revenue). For the full year FY2025, revenue was $1.02B (+20% year on year) and net income $205M. Its largest product in 2026-Q2 was Investment Advisory Management And Administrative Service at $14M, 44% of the disclosed total, just ahead of Deposit Account at 30%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $290M | $212M | +37% |
| Net income | $80M | $44M | +80% |
| Diluted EPS | $1.63 | $1.04 | +57% |
| Product | Revenue | Share |
|---|---|---|
| Investment Advisory Management And Administrative Service | $14M | 44% |
| Deposit Account | $9.4M | 30% |
| Credit Card Merchant Discount | $3.8M | 12% |
| Investment Advisory Retail Investmentand Insurance Service | $1.4M | 4.4% |
| ATM Charge | $1.3M | 4.1% |
| Credit Card Income | $882K | 2.9% |
| Merchant Processing | $667K | 2.2% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q2 2026Total $30.9M (+5.0%)
Merchant Processing grew +36% year on yearATM Charge +10% year on year
Segment Latestquarter on quarteryear on year
- Investment Advisory Management And Administrative Service$13.6M$13.6MQoQ +5.8%year on year +32%+5.8%+32%
- Deposit Account$9.4M$9.4MQoQ +1.6%year on year +32%+1.6%+32%
- Credit Card Merchant Discount$3.8M$3.8MQoQ +13%year on year +13%+13%+13%
- Investment Advisory Retail Investment and Insurance Service$1.4M$1.4MQoQ +4.1%year on year +31%+4.1%+31%
- ATM Charge$1.3M$1.3MQoQ +16%year on year +10%+16%+10%
- Credit Card Income$882.0K$882.0KQoQ +8.4%year on year +36%+8.4%+36%
- Merchant Processing$667.0K$667.0KQoQ -14%year on year +36%-14%+36%