Independent bank corp. (INDB)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) Attributable to Parent

26,751

47,477

51,845

30,628

35,225

29,934

33,015

31,118

27,555

22,064

23,852

20,563

20,725

17,179

20,484

20,374

18,611

19,455

18,595

17,450

9,460

15,978

15,738

14,746

13,383

10,589

14,655

12,758

12,252

9,969

11,601

8,874

12,183

11,169

11,959

11,120

11,188

Adjustments to reconcile net income to net cash provided by (used in) operating activities
Depreciation and amortization

6,992

5,520

8,897

921

4,101

3,933

3,675

3,840

4,181

4,263

4,043

3,897

3,557

3,625

3,487

4,337

2,905

2,980

2,896

3,286

3,145

2,926

3,029

3,396

2,757

2,222

2,116

2,088

2,064

2,312

2,554

2,757

2,589

2,456

2,282

2,518

2,378

Change In Unamortized Net Loan Costs And Premiums

735

-

-

-

453

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for credit losses

25,000

4,000

0

1,000

1,000

1,200

1,075

2,000

500

1,300

0

1,050

600

4,000

950

600

525

500

800

700

-500

1,750

1,901

2,250

4,502

3,150

2,650

3,100

1,300

4,350

3,606

8,500

1,600

3,800

2,000

3,482

2,200

Deferred income tax expense

3,108

10,423

-228

-140

539

-4,673

-107

-76

359

8,768

-199

-67

709

-319

-101

-47

462

4,848

0

4,733

639

2,381

-104

92

471

2,552

0

3

2

-1,891

-9

-10

-9

123

-11

-10

-11

Net unrealized (gain) loss on equity securities

-1,801

4

211

444

907

-1,118

324

54

-485

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on write-down of investments in securities available for sale

-

-

-

-

-

-

-

-

-

-10

11

1

1

1

0

2

-29

-

-

-

-

53

67

-20

91

234

0

-4

0

-

-

-

-

-

-

-

-

Loss on write-down of investments in securities available for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

39

28

136

40

Net loss on bank premises and equipment

-420

654

-141

-14

-25

1,134

-12

-3

7

15

1

96

-4

-

-

-

-

-8

-103

-112

2

36

-115

-37

-353

-533

1

0

-28

1

13

7

9

-

-

-

-

Gain resulting from early termination of a hedging relationship

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

22

-

-

-

-

Net loss on other real estate owned and foreclosed assets

-

-

-

-

-

-111

0

0

-1

20

-238

-99

29

12

0

-127

86

-82

-440

36

-666

-362

-129

-48

-184

-559

80

71

-198

-200

-506

-195

-95

-254

-2,261

1,427

-474

Realized gain on sale leaseback transaction

145

145

144

144

145

145

144

183

258

259

258

259

258

259

258

259

258

259

258

259

258

259

258

259

258

259

258

259

258

259

258

259

258

259

258

259

258

Stock based compensation

850

990

981

1,517

915

1,064

769

1,351

1,041

987

786

917

643

657

675

768

865

462

666

623

739

637

579

819

677

539

534

629

760

667

627

698

853

566

565

636

716

Excess tax benefit related to equity award activity

-

-

-

-

-

-

-

-

-

-

-

-

-

122

27

92

235

266

230

209

337

266

-11

256

193

91

100

146

166

-

-

-

-

-

-

-

-

Increase in cash surrender value of life insurance policies

1,276

1,441

1,304

1,296

972

1,131

984

998

947

1,127

1,019

1,017

964

1,109

984

982

1,014

1,007

958

949

778

915

770

721

722

904

794

785

746

-401

2,064

738

713

851

757

845

706

Gain Realized on Life Insurance Policies

357

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

337

1,627

-

-

0

0

-

-

-

-

-

-

-

-

Operating Lease, Payments

2,926

2,871

2,828

2,805

2,165

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in Fair Value on Loans Held for Sale

-914

-378

280

919

1

-198

103

70

-26

-11

-108

153

-147

27

47

-41

54

-25

-181

157

27

17

-224

174

51

-

1,609

-1,195

-140

-929

676

381

-269

-73

282

8

639

Net change in:
Trading assets

68

216

24

102

333

-77

-17

-3

277

26

5

4

485

-5

10

36

407

-98

-35

-5

494

0

0

0

0

-

-

-

-

0

0

0

265

256

-555

18

924

Loans held for sale

11,363

-22,260

-67,892

31,066

-846

-3,802

714

5,607

-805

-680

-3,814

5,830

-2,594

-7,222

360

5,380

1,544

-5,461

929

1,064

2,592

-5,709

-3,321

9,163

-2,145

-1,511

-23,439

-3,098

-11,257

6,723

19,407

-917

2,615

-1,583

9,619

3,604

-19,913

Other assets

151,830

-17,774

30,576

28,769

-1,721

-12,682

10,588

4,185

-2,594

-15,461

4,412

9,411

-18,384

-49,671

-3,221

14,810

30,455

524

11,700

-13,132

-2,934

13,063

-9,584

332

-1,904

-7,844

-1,907

-27,758

-11,394

-10,408

7,008

8,810

-3,835

1,746

23,350

19,806

-13,378

Increase (Decrease) in Other Operating Liabilities

92,461

-21,385

65,234

-19,338

-5,228

-8,966

11,622

6,619

-2,175

-10,002

12,281

2,088

-8,192

-27,052

-1,301

7,853

11,762

-4,485

14,562

-7,235

-5,292

7,809

3,362

4,567

-8,721

-1,752

621

-3,023

-11,862

-1,332

4,909

9,200

-8,369

3,796

12,864

6,308

-8,097

Total adjustments

-37,154

31,809

100,251

-79,656

-1,057

8,109

3,135

2,643

6,328

20,418

15,365

-8,787

16,709

35,946

5,242

-7,869

-17,068

8,013

5,608

12,997

-2,035

6,965

21,056

1,109

1,330

15,717

27,662

33,591

14,111

4,474

-12,209

12,079

-3,019

9,609

-15,331

-11,709

28,464

Net cash provided by (used in) operating activities

-10,403

79,286

152,096

-49,028

34,168

38,043

36,150

33,761

33,883

42,482

39,217

11,776

37,434

53,125

25,726

12,505

1,543

27,468

24,203

30,447

7,425

22,943

36,794

15,855

14,713

26,306

42,317

46,349

26,363

14,443

-608

20,953

9,164

20,778

-3,372

-589

39,652

Cash flows provided by (used in) investing activities
Increase (Decrease) in Equity Securities, FV-NI

108

355

123

128

105

6,010

103

124

78

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Sale of Debt Securities, Available-for-sale

-

-

-

-

-

-

-

-

-

504

488

19

16

333

0

19

266

-

-

-

-

4,493

272

0

673

3,337

0

169

0

-

-

-

-

0

0

14,639

0

Payments to Acquire Available-for-sale Securities, Equity

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities and principal repayments of securities available for sale

31,280

15,334

11,176

13,276

11,318

40,454

14,339

16,585

11,040

13,963

15,822

12,299

12,107

21,354

15,796

21,050

11,575

17,990

25,658

21,741

13,108

11,784

12,426

11,805

11,705

11,995

19,023

24,001

26,708

27,284

28,090

23,355

23,079

27,896

22,398

23,086

34,932

Payments to Acquire Debt Securities, Available-for-sale

30,095

-

-

-

-

15,146

10,285

16,358

37,201

36,601

29,328

25,339

49,617

8,783

14,530

29,889

16,469

23,978

14,893

28,347

5,846

470

35,709

102

766

13,111

-14

153

34,725

10,263

11,685

-66

71,765

-

-

-

-

Proceeds from maturities and principal repayments of securities held to maturity

48,183

39,678

34,899

33,411

19,003

19,705

19,934

19,828

22,888

20,449

19,674

19,533

19,101

28,986

22,977

19,086

19,942

15,462

15,676

16,414

12,616

11,846

12,648

11,133

9,083

9,452

12,178

13,585

13,950

18,267

15,676

12,216

13,728

16,648

12,312

7,000

8,130

Purchases of securities held to maturity

84,824

3,030

14,596

11,839

30,502

77,282

35,209

29,052

53,995

39,231

0

15,712

34,090

-

-

-

-

44,735

35,427

49,969

31,890

14,863

11,188

9,476

34,017

42,801

104,392

29,932

44,902

9,952

14,312

0

9,975

1,397

0

1,015

44,931

Net redemption (purchases) of Federal Home Loan Bank stock

8,850

-552

-11,109

781

-8,016

866

0

80

1,430

0

-2,824

2,438

0

-2,102

0

-503

-2,624

-

-

-

-

-

-

-

-

0

0

0

-3,093

0

0

0

-2,290

-

-

-

-

Investments in low income housing projects

-5,934

-6,503

-2,866

-391

-292

-836

-466

-919

-1,213

-2,932

-842

-434

-3,437

-2,153

-1,042

-1,783

-2,648

-238

-2,545

-7,270

-5,002

-2,792

-9,912

-1,187

-2,561

-

-

-

0

-

-

-

-

-

-

-

-

Purchases of life insurance policies

93

48

15

7

93

48

15

8

93

49

14

8

93

47

15

8

93

47

15

8

92

45

10,015

8

93

48

118

8

93

48

282

-158

95

47

119

7

94

Proceeds from Life Insurance Policy

1,326

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

574

5,257

478

-

-

-

0

-

-

-

-

-

-

-

-

Net increase in loans

41,283

-39,484

-41,507

-17,203

70,378

85,409

48,869

117,499

6,856

66,080

20,043

53,582

64,997

29,107

72,325

85,511

40,895

48,900

64,513

42,467

-41,330

24,754

64,721

83,628

93,858

39,289

29,262

44,880

-29,167

16,533

78,356

123,605

78,900

75,122

1,149

101,783

78,228

Cash Acquired in Excess of Payments to Acquire Business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

13,448

0

0

0

0

-

-

-

-

-

-

-

-

0

0

0

457

Purchases of bank premises and equipment

1,749

4,830

4,796

3,244

3,713

2,983

2,416

2,904

2,803

6,437

4,461

8,725

5,457

4,373

2,019

1,253

2,750

3,642

2,309

3,056

1,481

1,691

2,072

1,460

2,455

3,172

1,900

2,743

1,478

1,312

1,062

1,127

2,762

2,384

2,719

1,219

1,995

Proceeds from the sale of bank premises and equipment

9

3,779

4

0

13

2,093

33

11

52

4,387

1

1,891

27

-

-

-

-

0

886

333

14

155

305

3

756

10

19

0

0

0

37

19

11

-

-

-

-

Payments on early termination of hedging relationship

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-22

-

-

-

-

Proceeds from the sale of other real estate owned and foreclosed assets

-

-

-

-

-

79

55

0

253

2,253

0

276

1,255

741

47

71

724

289

3,499

2,238

1,641

3,189

1,459

2,168

642

2,612

1,882

4,031

1,206

1,198

2,650

309

1,492

2,357

346

3,059

514

Net payments relating to other real estate owned and foreclosed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

59

0

32

113

610

196

100

665

1,483

897

431

444

-

-

-

-

-

-

-

-

-

-

-

-

Capital improvements to other real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,159

304

-

-

-

-

-

-

-

-

Net cash used in investing activities

-92,138

34,102

72,289

-19,498

-66,733

-127,433

-60,132

-130,510

-69,436

-109,774

-15,879

-65,931

-125,185

-67,219

-66,097

-77,733

-27,837

-65,500

-74,179

-76,147

10,285

-14,630

-102,713

-64,472

-110,857

-63,036

-101,093

-37,089

-7,378

2,789

-59,244

-88,609

-122,875

-73,394

20,997

-56,240

-82,129

Cash flows provided by (used in) financing activities
Net increase (decrease) in time deposits

-125,396

-73,385

26,481

-10,832

12,464

-20,656

3,704

5,036

10,486

16,438

19,840

-22,568

-33,219

-49,044

-15,004

-13,122

-27,633

-26,433

-14,440

-20,830

-19,023

-22,844

-30,394

-22,428

-18,342

-17,627

-18,355

-58,295

15,141

-21,331

-9,116

14,623

-5,250

-11,306

-29,535

-3,773

-18,400

Net increase in other deposits

394,438

-103,923

-6,881

-73,867

24,034

52,181

-40,934

256,966

11,804

29,910

-32,164

87,774

91,721

16,223

86,572

215,767

32,177

102,273

-41,227

320,648

47,019

-69,124

34,667

206,330

146,183

27,859

99,201

183,348

-10,408

92,727

48,830

117,797

74,134

100,602

30,506

205,409

-24,457

Increase (Decrease) in Federal Funds Purchased and Securities Sold under Agreements to Repurchase, Net

257,826

45,000

-202,000

147,000

-122,046

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-10,000

-

-

-

-

-60,821

10,516

0

305

-

13,740

-2,840

-18,450

-

33,165

-1,572

16,619

Net (decrease) increase in short-term Federal Home Loan Bank borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-5,000

-35,000

50,000

-856

-19,144

20,000

Increase Decrease in Federal Home Loan Bank Advances Long Term

-15,000

0

-5,000

-20,000

0

-

-

-

-

-

-

-

-

-14,150

0

0

-51,641

-2,000

-4,000

0

-3,000

0

0

-5,000

0

0

-70,812

0

-9,134

-

-

-

-

-

856

0

-45,000

Net decrease in customer repurchase agreements

-

-

-

-

-

0

-1,059

4,321

-24,765

-16,991

20,299

13,599

-31,141

35,999

1,198

5,148

610

-4,491

19,010

1,301

-29,752

-5,302

21,426

3,281

-20,803

-

-

12,208

-23,741

-

-

-

-

-

-

-

-

Proceeds from Lines of Credit

0

0

0

-13

49,993

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from long-term debt, net of issuance costs

0

-

-

-

74,914

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Debt, Net of Issuance Costs

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

RepaymentsOfJuniorSubordinatedDebt

0

-

-

-

3,093

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Issuance of Subordinated Long-term Debt

0

0

0

-30

49,556

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Extinguishment of Debt

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-437

0

0

0

-122

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in other short term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,000

0

0

0

-5,000

-

-

-5,000

-7,000

-

-

-

-

841

-432

-203

-206

Repayments of Subordinated Debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

30,000

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from exercise of stock options

0

0

0

116

165

0

0

41

143

-

-

-135

143

41

16

-5

149

2

1,054

-10

321

1,750

115

335

133

481

1,250

293

451

155

494

20

439

414

12

634

3,067

Restricted stock awards issued, net of awards surrendered

1,132

-

-

-

1,419

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted stock awards issued, net of awards surrendered

-

-

-

-

-

-27

-6

-20

-1,318

-59

-2

-25

-1,336

-23

0

-2

-671

-12

0

-10

-635

2

-1

-170

-472

0

-1

-161

-507

-123

0

-115

-229

0

0

-145

-216

Excess tax benefit from stock based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

122

27

92

235

266

230

209

337

266

-11

256

193

91

100

146

166

273

94

-10

69

-231

-2

22

231

Tax benefit from deferred compensation distribution

-

-

-

-

-

-

-

-

-

-

-

-

-

8

0

0

179

7

7

0

165

4

6

0

128

4

5

0

100

3

3

0

86

1

5

0

74

Proceeds from shares issued under direct stock purchase plan

560

539

3,378

547

487

920

480

893

419

406

423

414

393

405

858

381

679

672

696

689

638

596

316

324

319

313

317

331

8

738

362

306

285

284

278

259

3

Payments for shares repurchased under share repurchase program

73,226

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common dividends paid

15,126

15,122

15,101

12,380

10,671

10,466

10,462

10,455

8,784

8,780

8,778

8,655

7,832

7,632

7,630

7,626

6,823

6,815

6,802

6,795

5,760

5,739

5,737

5,730

5,237

5,052

5,038

5,032

0

9,330

4,541

4,538

4,085

4,078

4,078

4,063

3,819

Net cash provided by financing activities

422,944

-181,686

-199,127

-29,734

74,384

88,998

-48,277

254,307

-12,015

21,143

-395

70,404

18,729

-54,614

66,037

200,633

-52,739

63,469

-95,472

285,202

-39,690

-55,391

20,387

102,198

97,102

-54,128

29,021

127,838

-34,619

19,849

49,866

120,243

11,999

55,280

29,919

177,424

-52,104

Net increase in cash and cash equivalents

320,403

-

-

-

41,819

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-392

-72,259

157,558

-47,568

-46,149

22,943

16,249

-69,022

-68,708

25,666

135,405

-79,033

25,437

-145,448

239,502

-21,980

-47,078

-45,532

53,581

958

-90,858

-29,755

137,098

-15,634

37,081

-9,986

52,587

-101,712

2,664

47,544

120,595

-94,581

Transfer of loans to other real estate owned and foreclosed assets

-

-

-

-

-

-

-

-

-

-53

107

0

457

945

0

291

86

-612

1,151

629

354

209

782

3,511

746

5,215

-1,208

-367

-771

12,490

-293

-3,633

-1,503

11,976

-1,458

-7,294

3,061

Net increase in capital commitments relating to low income housing project investments

14,394

20,803

15,722

18

0

-

-

-

9

-228

202

-14

60

5,017

343

-217

37

-427

1,030

1,055

0

11,000

1,999

1

25,839

-

-

0

0

-

-

-

-

-

-

-

-

Right-of-Use Asset Obtained in Exchange for Operating Lease Liability

2,223

7,358

2,769

1,898

2,926

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Business Combinations [Abstract]
Common stock issued for acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

86,415

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Transfer of securities from trading to available for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-8,505

-

-

-

-