Independent Bank Corp. (INDB) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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INDB Revenue Growth
Revenue Breakdown (FY 2024)
INDB's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
INDB Revenue Analysis (2013–2024)
As of May 8, 2026, Independent Bank Corp. (INDB) generated trailing twelve-month (TTM) revenue of $1.07 billion, reflecting explosive growth of +34.4% year-over-year. The most recent quarter (Q3 2025) recorded $335.2 million in revenue, up 33.8% sequentially.
Looking at the longer-term picture, INDB's 5-year compound annual growth rate (CAGR) stands at +11.8%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $974.1 million in 2024, representing a new all-time high.
Revenue diversification analysis shows INDB's business is primarily driven by Investment Advisory, Management and Administrative Service (42%), Deposit Account (29%), and Credit Card, Merchant Discount (14%).
When compared to Financial Services sector peers including WSFS, NBTB, and TRMK. Compare INDB vs WSFS →
INDB Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| INDBCurrent | $1.1B | +34.4% | +11.8% | 25.4% | |
 WSFS | $1.4B | - | - | 28.0% | |
 NBTB | $867M | - | - | 25.3% | |
 TRMK | $1.1B | - | - | 25.5% | |
 CVBF | $643M | - | - | 43.8% | |
 IBCP | $315M | - | - | 25.8% |
INDB Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $974.1M | - | $646.9M | 66.4% | $247.1M | 25.4% |
| 2023 | $911.3M | - | $698.9M | 76.7% | $315.1M | 34.6% |
| 2022 | $749.8M | - | $713.7M | 95.2% | $347.8M | 46.4% |
| 2021 | $516.0M | - | $484.1M | 93.8% | $156.7M | 30.4% |
| 2020 | $507.4M | - | $420.6M | 82.9% | $152.8M | 30.1% |
| 2019 | $556.6M | - | $496.7M | 89.2% | $218.1M | 39.2% |
| 2018 | $412.2M | - | $381.9M | 92.6% | $155.9M | 37.8% |
| 2017 | $356.8M | - | $335.5M | 94.0% | $134.5M | 37.7% |
| 2016 | $326.1M | - | $301.2M | 92.4% | $112.1M | 34.4% |
| 2015 | $307.8M | - | $285.6M | 92.8% | $92.2M | 30.0% |
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Start ComparisonINDB — Frequently Asked Questions
Quick answers to the most common questions about buying INDB stock.
Is INDB's revenue growth accelerating or slowing?
INDB revenue is accelerating at +34.4% year-over-year, exceeding the 5-year CAGR of +11.8%. TTM revenue reached $1.1B. Growth momentum has increased versus prior periods.
What is INDB's long-term revenue growth rate?
Independent Bank Corp.'s 5-year revenue CAGR of +11.8% reflects the sustained expansion pattern. Current YoY growth of +34.4% is above this long-term average.
How is INDB's revenue distributed by segment?
INDB reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.