Disclaimer

You are now leaving the Independent Bank website. Linked web pages are not under the control of Independent Bank, its affiliates or subsidiaries. Be aware the privacy policy of the site to which you are going may differ from that of Independent Bank. Independent Bank provides external links as a convenience and is not responsible for the content or security of any linked web page.

Click "OK" to continue or "Cancel" to go back

Ok Cancel
Menu
Search
Locations
Login

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-Q 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-Q 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD

Assets

Cash and due from banks 54,260 35,238 36,994 23,350 38,662
Interest bearing deposits 31,523 47,956 17,744 46,894 43,755
Cash and Cash Equivalents 85,783 83,194 54,738 70,244 82,417
Interest bearing deposits - time 11,866 5,591 2,739 595 499
Equity securities at fair value NA NA 0 393 0
Trading securities 148 410 455 NA NA
Securities available for sale 585,484 610,616 522,925 427,926 439,592
Federal Home Loan Bank and Federal Reserve Bank stock, at cost 15,471 15,543 15,543 18,359 18,359
Loans held for sale, carried at fair value 27,866 35,946 39,436 44,753 87,358
Payment plan receivables and other assets held for sale 0 33,360 NA NA NA
Loans held for sale, carried at lower of cost or fair value NA NA 0 41,471 36,622

Loans

Commercial 748,398 804,017 853,260 1,144,481 1,189,017
Mortgage 498,036 538,615 849,530 1,042,890 1,070,035
Installment 234,017 265,616 316,027 395,149 463,394
Payment plan receivables 34,599 NA NA NA NA
Total Loans 1,515,050 1,608,248 2,018,817 2,582,520 2,722,446
Allowance for loan losses (22,570) (20,234) (22,587) (24,888) (26,148)
Net Loans 1,492,480 1,588,014 1,996,230 2,557,632 2,696,298
Other real estate and repossessed assets, net 7,150 5,004 1,643 1,299 1,789
Property and equipment, net 43,103 40,175 39,149 38,777 37,424
Bank-owned life insurance 54,402 54,033 54,572 55,068 55,412
Deferred tax assets, net 39,635 32,818 15,089 5,779 2,773
Capitalized mortgage loan servicing rights, carried at fair value 12,436 13,671 15,699 21,400 16,906
Vehicle service contract counterparty receivables, net 7,229 NA NA NA NA
Other intangibles 2,280 1,932 1,586 6,415 5,598
Goodwill NA NA 0 28,300 28,300
Accrued income and other assets 23,733 28,643 29,551 34,870 41,490
Total Assets 2,409,066 2,548,950 2,789,355 3,353,281 3,550,837

Liabilities and Shareholders' Equity

Deposits

Non-interest bearing 659,793 717,472 768,333 879,549 883,138
Savings and interest-bearing checking 988,174 1,015,724 1,064,391 1,194,865 1,178,695
Reciprocal 50,207 38,657 50,979 182,072 416,200
Time 387,789 453,866 374,872 385,981 374,579
Brokered time NA 0 141,959 270,961 199,700
Total Deposits 2,085,963 2,225,719 2,400,534 2,913,428 3,052,312
Other borrowings 11,954 9,433 54,600 25,700 63,974
Subordinated debentures 35,569 35,569 35,569 39,388 39,439
Other liabilities held for sale 0 718 NA NA NA
Accrued expenses and other liabilities 24,488 28,531 33,719 35,771 54,867
Total Liabilities 2,157,974 2,299,970 2,524,422 3,014,287 3,210,592

Commitments and contingent liabilities

Shareholders' Equity
Preferred stock 0 0 0 0 0
Common stock 339,462 323,745 324,986 377,372 351,839
Accumulated deficit (82,334) (65,657) (54,054) (28,270) (8,221)
Accumulated other comprehensive loss (6,036) (9,108) (5,999) (10,108) (3,373)
Total Shareholders' Equity 251,092 248,980 264,933 338,994 340,245
Total Liabilities and Shareholders' Equity 2,409,066 2,548,950 2,789,355 3,353,281 3,550,837
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.

Top