Independent Bank Corp. INDB Balance Sheet

Independent bank corp. (INDB)

Balance Sheet / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Dec'10
Assets
Cash and due from banks
125	114	153	121	106	127	102	113	102	103	100	110	94	97	92	102	83	84	160	100	108	143	98	119	142	168	185	139	70	98	66	65	57	58	53	56	42
Interest-earning deposits with banks
345	36	66	73	185	122	148	209	62	109	158	126	125	191	265	229	113	190	89	295	47	34	126	151	74	48	122	197	129	117	111	121	75	179	180	129	119
Securities
Trading
2	2	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FEDERAL FUNDS SOLD
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	2	-	0	1	-
Debt Securities, Trading, and Equity Securities, FV-NI
-	-	1	1	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	0	-	0	8	7	8	7
Equity Securities, FV-NI
19	21	21	20	20	19	20	20	20	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt Securities, Available-for-sale
437	426	391	393	437	442	435	442	445	447	429	415	401	363	387	389	378	367	365	375	387	348	361	340	348	356	284	303	335	329	323	338	362	305	293	305	377
Debt Securities, Held-to-maturity
777	740	777	797	623	611	553	538	528	497	478	498	502	487	430	438	457	477	448	428	394	375	372	373	375	350	317	225	209	178	186	188	200	204	220	233	202
Total securities
1,236	1,190	1,192	1,213	1,083	1,075	1,011	1,002	996	946	909	915	905	851	818	829	836	845	814	803	782	724	733	713	723	707	601	529	544	507	509	526	563	518	521	547	587
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group
43	33	55	123	5	6	10	9	3	4	5	9	3	6	13	12	7	5	11	10	9	6	12	16	6	8	10	32	36	48	42	22	22	20	22	12	27
Loans
Commercial and industrial
-	-	-	-	1,150	-	1,003	976	903	888	858	910	881	902	857	875	835	843	862	873	829	860	842	853	822	784	756	742	702	687	653	625	599	575	567	568	502
Commercial real estate
-	-	-	-	3,254	-	3,132	3,131	3,102	3,116	3,087	3,083	3,027	3,010	2,787	2,727	2,711	2,653	2,659	2,630	2,606	2,347	2,338	2,300	2,282	2,249	2,166	2,150	2,123	2,122	1,939	1,912	1,853	1,847	1,815	1,801	1,717
Commercial construction
-	-	-	-	373	-	352	364	400	401	395	340	356	320	376	367	357	373	308	278	291	265	276	252	239	223	236	231	211	188	175	149	148	128	119	130	129
Small business
-	-	-	-	166	-	149	147	133	132	130	131	126	122	115	111	103	96	92	91	87	85	81	78	78	77	75	77	77	78	78	79	79	78	77	78	80
Residential real estate
-	-	-	-	935	-	801	779	761	754	756	749	653	644	632	628	631	638	651	653	681	530	536	541	538	541	496	509	547	612	375	389	402	416	441	454	473
Residential construction
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4	7	-	9	14	13	9	6	6	4
Home equity - first position
-	-	-	-	642	-	647	646	617	612	615	612	595	577	559	554	547	543	531	526	519	513	509	503	499	497	492	481	481	487	485	466	425	381	648	632	579
Home equity - subordinate positions
-	-	-	-	438	-	426	422	434	439	437	431	412	411	405	393	388	384	376	364	356	350	344	337	328	325	311	310	310	314	308	310	310	314	-	-	-
Other consumer
-	-	-	-	16	-	13	11	9	9	9	10	10	11	11	16	13	14	15	17	19	17	16	17	18	20	20	21	23	26	29	31	36	41	47	53	68
Loans and Leases Receivable, Gross
8,916	8,873	8,913	8,950	6,976	6,906	6,527	6,479	6,362	6,355	6,289	6,269	6,064	5,999	5,746	5,674	5,589	5,547	5,498	5,434	5,393	4,970	4,947	4,885	4,807	4,718	4,556	4,530	4,487	4,519	4,056	3,980	3,869	3,794	3,723	3,725	3,555
Less: allowance for credit losses
92	67	66	65	65	64	63	62	60	60	59	59	62	61	58	57	56	55	55	54	54	55	55	54	53	53	53	52	51	51	49	48	48	48	47	46	46
Net loans
8,824	8,805	8,846	8,884	6,911	6,841	6,464	6,416	6,301	6,294	6,230	6,210	6,002	5,938	5,687	5,616	5,532	5,491	5,442	5,379	5,338	4,915	4,892	4,830	4,753	4,665	4,502	4,477	4,435	4,467	4,006	3,932	3,821	3,746	3,675	3,678	3,509
Federal Home Loan Bank stock
23	14	14	26	7	15	13	13	13	11	11	14	11	11	11	11	11	14	37	37	37	33	33	37	39	39	38	38	38	41	33	33	33	35	35	35	35
Bank premises and equipment, net
121	123	125	123	98	97	95	95	95	94	94	92	82	78	76	76	76	75	73	74	73	64	64	64	64	64	56	56	55	55	49	49	49	48	47	46	45
Goodwill
506	506	504	504	256	256	231	231	231	231	231	231	221	221	201	201	201	201	201	201	201	170	170	170	170	170	150	150	150	150	127	130	130	130	130	130	129
Other intangible assets
27	29	31	33	14	15	7	7	8	9	10	11	9	9	9	10	11	11	12	13	13	9	10	11	11	12	10	10	11	11	9	9	10	10	11	11	12
Cash surrender value of life insurance policies
197	197	195	197	161	160	153	153	152	151	150	149	145	144	137	136	135	134	133	132	131	109	108	98	97	100	99	98	98	97	86	87	86	86	85	84	82
Other Real Estate, Foreclosed Assets, and Repossessed Assets
-	-	-	2	-	-	0	0	0	0	2	3	3	4	1	1	1	2	2	5	6	7	9	9	7	7	9	9	11	12	8	11	7	6	8	7	7
Other assets
527	343	352	300	166	132	136	126	122	123	146	143	134	154	186	190	177	150	155	142	160	144	122	125	132	105	108	112	138	149	139	133	124	129	126	101	95
Total assets
11,980	11,395	11,538	11,603	8,997	8,851	8,375	8,381	8,090	8,082	8,052	8,017	7,738	7,709	7,502	7,418	7,189	7,209	7,135	7,195	6,911	6,364	6,384	6,348	6,225	6,099	5,895	5,852	5,721	5,756	5,192	5,124	4,985	4,970	4,899	4,842	4,695
Liabilities and Stockholders' Equity
Deposits
Noninterest-bearing demand deposits
2,820	2,662	2,752	2,738	2,329	2,450	2,337	2,262	2,167	2,159	2,183	2,118	2,043	2,057	2,024	1,908	1,840	1,846	1,778	1,832	1,603	1,462	1,493	1,462	1,399	1,369	1,339	1,283	1,199	1,248	1,110	1,070	1,015	992	977	913	842
Savings and interest checking accounts
3,428	3,232	3,199	3,196	2,914	2,865	2,621	2,739	2,606	2,599	2,568	2,676	2,542	2,469	2,417	2,469	2,374	2,370	2,305	2,285	2,232	2,108	2,070	2,096	2,032	1,940	1,843	1,798	1,711	1,691	1,536	1,560	1,501	1,473	1,424	1,479	1,375
Money market
1,897	1,856	1,904	1,927	1,496	1,399	1,353	1,351	1,323	1,325	1,302	1,292	1,268	1,236	1,198	1,175	1,123	1,089	1,119	1,125	1,088	990	1,066	1,036	957	933	882	884	872	853	840	807	803	780	744	722	717
Time certificates of deposit of $100,000 and over
629	663	705	720	362	351	317	302	293	278	260	238	242	266	257	263	267	274	290	295	304	254	268	283	292	297	282	292	339	317	248	249	227	225	226	185	219
Other time certificates of deposits
640	731	764	724	360	359	345	357	361	365	367	369	373	382	371	380	389	410	421	429	441	394	403	419	432	445	409	417	428	435	382	390	397	405	415	485	473
Total deposits
9,416	9,147	9,326	9,307	7,463	7,427	6,976	7,013	6,751	6,729	6,682	6,695	6,470	6,412	6,269	6,197	5,995	5,990	5,914	5,970	5,670	5,210	5,302	5,298	5,114	4,986	4,757	4,676	4,551	4,546	4,117	4,078	3,945	3,876	3,787	3,786	3,627
Borrowings
Federal Home Loan Bank borrowings
358	115	70	277	25	147	50	50	53	53	53	53	50	50	50	50	50	102	104	108	108	70	60	60	140	140	189	261	267	271	189	189	194	229	257	258	305
Long-term Debt
74	74	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Junior Subordinated Notes
62	62	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Customer repurchase agreements
-	-	-	-	-	-	-	-	-	-	179	159	145	-	140	139	134	133	138	119	128	147	153	131	128	154	164	141	129	-	158	144	147	166	-	-	-
Short-term Debt
-	-	-	-	49	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	165	-	-	-	-	-	-	-
Long-term Debt
-	-	74	74	74	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Wholesale repurchase agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	50	50	50	50	50	50	50	50	50	50	50	50	50	50	50	-	-	-
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust
-	-	62	62	73	76	73	73	73	73	73	73	73	73	73	73	73	73	73	73	73	73	73	73	73	73	73	74	74	74	61	61	61	61	61	61	61
Subordinated debentures (less unamortized debt issuance costs of $375 and $399)
49	49	84	84	84	34	34	34	34	34	34	34	34	34	34	34	34	34	35	35	35	65	30	30	30	30	30	30	30	30	30	30	30	30	30	30	30
Securities Sold under Agreements to Repurchase
-	-	-	-	-	-	141	142	137	162	-	-	-	176	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	216	183	168
Other Borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	2	-
Total borrowings
545	303	292	499	308	258	299	300	298	323	340	320	304	335	299	298	293	343	351	386	395	406	367	345	422	448	507	557	550	591	489	476	484	537	568	535	565
Other liabilities
338	236	237	159	121	92	101	89	83	85	98	86	85	96	114	118	112	103	110	95	112	107	87	87	86	72	74	75	81	89	91	86	77	86	82	65	66
Total liabilities
10,300	9,687	9,856	9,967	7,892	7,778	7,377	7,403	7,134	7,138	7,121	7,102	6,860	6,844	6,683	6,614	6,401	6,438	6,376	6,452	6,178	5,724	5,757	5,731	5,623	5,507	5,339	5,308	5,183	5,227	4,699	4,640	4,506	4,501	4,438	4,387	4,259
Commitments and contingencies
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stockholders' equity
Preferred stock, $.01 par value, authorized: 1,000,000 shares, outstanding: none
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Common stock, $.01 par value, authorized: 75,000,000 shares, issued and outstanding: 33,260,005 shares at March 31, 2020 and 34,377,388 shares at December 31, 2019 (includes 147,892 and 147,184 shares of unvested participating restricted stock awards, respectively)
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Value of shares held in rabbi trust at cost: 133,857 shares at March 31, 2020 and 143,820 shares at December 31, 2019
4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	3	3	3	3	3	3	3	3	3	3	3	3	3	3	-3	2	2	2	2	2
Deferred compensation and other retirement benefit obligations
4	4	4	4	4	4	4	4	4	4	4	4	4	4	-4	-4	-4	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	3	-2	-2	-2	-2	-2
Additional paid in capital
962	1,035	1,033	1,029	527	527	483	481	479	479	477	476	452	451	409	408	406	405	404	401	399	311	308	307	306	305	274	272	270	269	237	236	235	233	232	231	226
Retained earnings
667	654	621	585	569	546	527	504	484	465	452	437	425	414	404	391	379	368	355	343	333	330	320	310	301	293	288	278	270	263	258	251	247	239	232	224	210
Accumulated other comprehensive income, net of tax
49	18	26	20	6	-1	-12	-10	-8	-1	0	0	-0	-1	3	3	1	-2	-0	-2	-0	-2	-2	-1	-5	-7	-7	-7	-4	-4	-3	-4	-3	-4	-4	-0	-0
Stockholders' Equity Attributable to Parent
1,679	1,708	1,682	1,636	1,104	1,073	998	977	956	943	931	914	877	864	818	803	788	771	759	743	732	640	627	616	602	591	555	543	537	529	492	483	478	469	461	455	436
Total liabilities and stockholders' equity
11,980	11,395	11,538	11,603	8,997	8,851	8,375	8,381	8,090	8,082	8,052	8,017	7,738	7,709	7,502	7,418	7,189	7,209	7,135	7,195	6,911	6,364	6,384	6,348	6,225	6,099	5,895	5,852	5,721	5,756	5,192	5,124	4,985	4,970	4,899	4,842	4,695
Commercial And Industrial [Member]
Financing Receivable, before Allowance for Credit Loss
1,448	1,395	1,411	1,400	-	1,093	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loans and Leases Receivable, Gross
1,448	1,395	1,411	1,400	-	1,093	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: allowance for credit losses
-	-	17	16	-	15	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Commercial Real Estate [Member]
Financing Receivable, before Allowance for Credit Loss
4,061	4,002	4,000	4,058	-	3,251	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loans and Leases Receivable, Gross
4,061	4,002	-	-	-	3,251	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: allowance for credit losses
-	-	-	-	-	32	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Construction Loans [Member]
Financing Receivable, before Allowance for Credit Loss
527	547	520	491	-	365	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loans and Leases Receivable, Gross
527	547	-	-	-	365	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: allowance for credit losses
-	-	-	-	-	5	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Small Business [Member]
Financing Receivable, before Allowance for Credit Loss
177	174	172	173	-	164	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loans and Leases Receivable, Gross
177	174	172	173	-	164	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: allowance for credit losses
-	-	1	1	-	1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Residential Real Estate [Member]
Financing Receivable, before Allowance for Credit Loss
1,528	1,590	1,644	1,655	-	923	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loans and Leases Receivable, Gross
1,528	1,590	1,644	1,655	-	923	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: allowance for credit losses
-	-	3	3	-	3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Home Equity 1st Position [Member]
Financing Receivable, before Allowance for Credit Loss
-	-	644	656	-	654	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Home Equity Subordinate Position [Member]
Financing Receivable, before Allowance for Credit Loss
-	-	492	487	-	438	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Consumer Portfolio Segment [Member]
Financing Receivable, before Allowance for Credit Loss
27	30	27	26	-	16	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loans and Leases Receivable, Gross
27	30	-	-	-	16	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: allowance for credit losses
-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Home Equity Loan [Member]
Loans and Leases Receivable, Gross
1,146	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-