NASDAQ$INDB
Independent Bank Corp. · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Reported net income growth over prior period results.
Independent Bank Corp. reported a solid performance in Q1 2021, with net income of $41.7 million, or $1.26 per diluted share. The results were positively impacted by a release of provision for loan loss and elevated interest income from forgiven PPP loans.
- Net income for the first quarter of 2021 was $41.7 million, or $1.26 per diluted share, compared to $34.6 million, or $1.05 per diluted share, for the fourth quarter of 2020.
- Total assets increased by $569.6 million, or 4.3%, from the prior quarter, reaching $13.8 billion.
- Deposit balances increased by $600.4 million, or 5.5%, from the prior quarter, totaling $11.6 billion.
- Net interest income increased to $95.6 million compared to $91.4 million for the prior quarter, driven primarily by increased PPP fee recognition of $5.8 million for the quarter.
Headline financials
Revenue & EPS history
Independent Bank · Revenue · Quarterly
$121M
Revenue by segment
Independent Bank · $28.2M total across 8 segments · Q3 2022
- Investment management and advisory$8.44M—29.9%
- Deposit account fees$6.26M—22.2%
- Other noninterest income$5.75M—20.4%
- Interchange and ATM fees$4.33M—15.4%
- Increase in cash surrender value of life insurance policies$1.88M—6.7%
- Mortgage banking income$585K—2.1%
- Gain on life insurance benefits$477K—1.7%
- Loan level derivative income$471K—1.7%
Forward guidance
Independent Bank Corp. remains optimistic about future opportunities, emphasizing the importance of relationships with customers and communities.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
+0.3%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+4.0%
Avg return
30 days after
54%
35 / 65 earnings
Positive
+11.0%
Q3 2020
Best reaction
-11.5%
Q2 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.5% | -0.2% | -3.1% | |
| Q4 2025 | -2.4% | -1.2% | +3.6% | |
| Q3 2025 | +2.8% | +5.6% | +7.4% | |
| Q2 2025 | -2.8% | -1.1% | +4.8% | |
| Q1 2025 | -2.2% | +3.4% | +15.9% | |
| Q4 2024 | +3.5% | +5.2% | +5.8% | |
| Q3 2024 | -4.2% | -3.2% | +12.4% | |
| Q2 2024 | +0.1% | +7.3% | +3.5% | |
| Q1 2024 | +4.2% | +7.6% | +9.1% | |
| Q4 2023 | -0.6% | +0.2% | -11.3% | |
| Q3 2023 | -5.7% | -6.1% | +17.9% | |
| Q2 2023 | +4.0% | +7.9% | +3.6% | |
| Q4 2022 | -3.4% | -3.4% | +1.8% | |
| Q3 2022 | +1.2% | +4.1% | +4.8% | |
| Q2 2022 | -0.5% | +1.5% | +4.0% | |
| Q1 2022 | -2.7% | -5.0% | -1.2% | |
| Q4 2021 | +0.4% | +1.4% | +2.6% | |
| Q3 2021 | +0.7% | -2.0% | +0.5% | |
| Q2 2021 | -1.9% | -2.2% | +10.1% | |
| Q1 2021 | +2.3% | +5.5% | +0.1% | |
| Q4 2020 | -2.4% | -1.7% | +4.3% | |
| Q3 2020 | +11.0% | +11.1% | +32.7% | |
| Q2 2020 | +0.8% | -1.9% | -3.9% | |
| Q1 2020 | -0.3% | +8.4% | -5.0% | |
| Q4 2019 | -0.3% | -1.8% | -4.2% | |
| Q3 2019 | +7.7% | +11.7% | +14.7% | |
| Q2 2019 | +1.9% | +1.7% | -5.1% | |
| Q1 2019 | -6.1% | -6.1% | -9.5% | |
| Q4 2018 | +3.7% | +5.4% | +12.3% | |
| Q3 2018 | +2.1% | -2.8% | +0.2% | |
| Q2 2018 | +10.1% | +12.6% | +12.6% | |
| Q1 2018 | -1.2% | +1.1% | +2.7% | |
| Q4 2017 | -0.5% | -0.7% | -1.5% | |
| Q3 2017 | -1.6% | -3.2% | -7.4% | |
| Q2 2017 | +7.0% | +8.5% | +0.1% | |
| Q1 2017 | +2.0% | +4.7% | -2.6% | |
| Q4 2016 | -7.1% | -7.0% | -6.2% | |
| Q3 2016 | +0.7% | +5.5% | +21.5% | |
| Q2 2016 | +5.7% | +5.7% | +9.8% | |
| Q1 2016 | +0.6% | — | — | |
| Q4 2015 | +5.1% | — | — | |
| Q3 2015 | +5.0% | — | — | |
| Q2 2015 | +1.9% | — | — | |
| Q1 2015 | -5.3% | — | — | |
| Q4 2014 | +3.7% | — | — | |
| Q3 2014 | +3.2% | — | — | |
| Q2 2014 | -1.9% | — | — | |
| Q1 2014 | +0.5% | — | — | |
| Q4 2013 | +0.4% | — | — | |
| Q3 2013 | +1.1% | — | — | |
| Q2 2013 | +0.0% | — | — | |
| Q1 2013 | -0.1% | — | — | |
| Q4 2009 | -0.3% | — | — | |
| Q4 2012 | -1.2% | — | — | |
| Q3 2012 | -2.2% | — | — | |
| Q1 2011 | +0.3% | — | — | |
| Q4 2010 | +0.3% | — | — | |
| Q4 2011 | +0.3% | — | — | |
| Q2 2012 | +0.3% | — | — | |
| Q1 2012 | +2.2% | — | — | |
| Q3 2010 | -0.4% | — | — | |
| Q3 2011 | -0.4% | — | — | |
| Q2 2011 | -11.5% | — | — | |
| Q2 2010 | -11.5% | — | — | |
| Q1 2010 | +2.6% | — | — |
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