Independent Bank Corp. · Rockland, MA United States ·(NASDAQ (GS): INDB)
Company Description
Phone: 781-878-6100
Fax: 781-982-6130
Toll Free: 800-222-2299
Rankings
- S&P 600
View Independent Bank Corp. Locations On A US Map
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This link will open in a new window Independent Bank wants to rock your financial world. Its banking subsidiary, Rockland Trust, operates more than 60 branches, as well as several commercial lending centers, investment management offices, and mortgage banking centers in southeastern Massachusetts and Cape Cod. Serving individuals and small to midsized businesses, the bank offers such deposit products as checking and savings accounts, money market accounts, and CDs. Its lending activities mainly consist of commercial real estate loans (around 40% of its loan portfolio), residential mortgages, and home equity, consumer, business, and construction loans. To read the full description, subscribe now.
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Key Independent Bank Corp. Financials
| Company Type | Public - NASDAQ (GS): INDB Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $145.5 |
| 2008 Employees | 827 |
Independent Bank Corp. Executives
26 executives listed for Independent Bank Corp.'s Rockland, MA location.
| Title | Name & Bio | Contact |
| Chairman | Thomas Teuten | Network |
| President, CEO, and Director, Independent Bank Corp. and Rockland Trust | Christopher Oddleifson | Network |
| Chief Technology and Operations Officer, Rockland Trust | Edward Jankowksi | Network |
Competition
Competitive Landscape for Independent Bank Corp.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Independent Bank Corp. Competitors
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