Independent Bank (Independent Bank) Scaled Net Operating Assets : 0.13 (As of Dec. 2023)

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What is Independent Bank Scaled Net Operating Assets?

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Independent Bank's operating assets for the quarter that ended in Dec. 2023 was $17,788.8 Mil. Independent Bank's operating liabilities for the quarter that ended in Dec. 2023 was $15,233.7 Mil. Independent Bank's Total Assets for the quarter that ended in Sep. 2023 was $19,368.1 Mil. Therefore, Independent Bank's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2023 was 0.13.

Independent Bank Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Independent Bank's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2023 is calculated as

	Scaled Net Operating Assets (SNOA)		(A: Dec. 2023 )
=	(Operating Assets (A: Dec. 2023 )	-	Operating Liabilities (A: Dec. 2023 ))	/	Total Assets (A: Dec. 2022 )
=	(19123.043	-	15233.743)	/	19294.174
=	0.20

where

	Operating Assets		(A: Dec. 2023 )
=	Total Assets	-	Balance Sheet Cash And Cash Equivalents
=	19347.373	-	224.33
=	19123.043

	Operating Liabilities		(A: Dec. 2023 )
=	Total Liabilities	-	Long-Term Debt & Capital Lease Obligation	-	Short-Term Debt & Capital Lease Obligation
=	16452.122	-	1218.379	-	0
=	15233.743

Independent Bank's Scaled Net Operating Assets (SNOA) for the quarter that ended in Dec. 2023 is calculated as

	Scaled Net Operating Assets (SNOA)		(Q: Dec. 2023 )
=	(Operating Assets (Q: Dec. 2023 )	-	Operating Liabilities (Q: Dec. 2023 ))	/	Total Assets (Q: Sep. 2023 )
=	(17788.787	-	15233.743)	/	19368.109
=	0.13

where

	Operating Assets		(Q: Dec. 2023 )
=	Total Assets	-	Balance Sheet Cash And Cash Equivalents
=	19347.373	-	1558.586
=	17788.787

	Operating Liabilities		(Q: Dec. 2023 )
=	Total Liabilities	-	Long-Term Debt & Capital Lease Obligation	-	Short-Term Debt & Capital Lease Obligation
=	16452.122	-	1218.379	-	0
=	15233.743

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Independent Bank (Independent Bank) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Independent Bank Corp (NAS:INDB) » Definitions » Scaled Net Operating Assets

Comparable Companies

Traded in Other Exchanges

N/A

Address

2036 Washington Street, Hanover, MA, USA, 02339

Website

https://www.rocklandtrust.com

Independent Bank is a bank holding company and the sole shareholder of its bank, the Rockland Trust Company. Rockland is a community-oriented commercial bank. The bank's revenue is derived from a wide array of banking services, including lending activities, acceptance of demand, savings, and time deposits, and investment management. Rockland has historically relied heavily on both organic growth and select merger and acquisition activity to drive growth. The bank's loan portfolio constitutes the bulk of the bank's total assets. Its borrowers consist mostly of small to medium-size businesses and consumers, most of which are made to its market area in eastern Massachusetts and Rhode Island. The bank's loan portfolio is predominantly in commercial loans.

Executives

John J Morrissey	director	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Jeffrey J Tengel	director, officer: Chief Executive Officer	1900 EAST NINTH STREET, CLEVELAND OH 44114
Lee C Powlus	officer: Chief Tech & Operations Off.	850 MAIN STREET, BRIDGEPORT CT 06604
Patricia M Natale	officer: General Counsel
Barry H Jensen	officer: Chief Information Officer	INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Mark J Ruggiero	officer: Principal Accounting Officer	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Scott Smith	director	320 NORWOOD PARK SOUTH, NORWOOD MA 02062
Maureen A. Gaffney	officer: Principal Accounting Officer	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Christopher Oddleifson	director, officer: President and CEO
Eileen C Miskell	director	C/O INDEPENDENT BANK CORP, 288 UNION STREET, ROCKLAND MA 02370
Edward H Seksay	officer: General Counsel	C/O INDEPENDENT BANK CORP, 288 UNION STREET, ROCKLAND MA 02370
Robert D Cozzone	officer: CFO and Treasurer	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Dawn Mugford	officer: Chief Risk Officer	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Donna L Abelli	director	INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Gerard F Nadeau	officer: Executive Vice President	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370