Call reports 2024
INDEPENDENT BANK — 2024
What INDEPENDENT BANK reported to the FFIEC in 2024, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Total assets | 1,445,495,000 | 1,570,893,000 | 1,542,941,000 | 1,636,961,000 |
| Total loans | 1,215,769,000 | 1,233,879,000 | 1,234,925,000 | 1,236,099,000 |
| Allowance for loan losses | 15,164,000 | 15,164,000 | 14,479,000 | 14,479,000 |
| Securities available for sale | 352,000 | 331,000 | 320,000 | 301,000 |
| Securities held to maturity | 4,323,000 | 4,278,000 | 4,232,000 | 7,558,000 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 1,175,220,000 | 1,267,328,000 | 1,307,770,000 | 1,326,129,000 |
| Interest-bearing deposits | 967,393,000 | 1,065,692,000 | 1,091,884,000 | 1,105,974,000 |
| Noninterest-bearing deposits | 207,827,000 | 201,636,000 | 215,886,000 | 220,155,000 |
| Equity capital | 163,114,000 | 167,968,000 | 171,379,000 | 173,065,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Interest income | 24,085,000 | 48,861,000 | 74,454,000 | 100,070,000 |
| Interest expense | 9,539,000 | 19,963,000 | 31,369,000 | 42,474,000 |
| Net interest income | 14,546,000 | 28,898,000 | 43,085,000 | 57,596,000 |
| Noninterest income | 4,479,000 | 9,186,000 | 14,603,000 | 19,461,000 |
| Noninterest expense | 12,974,000 | 25,344,000 | 37,592,000 | 49,871,000 |
| Provision for loan losses | 530,000 | 1,220,000 | 1,919,000 | 3,365,000 |
| Pretax income | 5,521,000 | 11,520,000 | 18,177,000 | 23,821,000 |
| Income tax | 1,257,000 | 2,593,000 | 4,037,000 | 5,186,000 |
| Net income | 4,264,000 | 8,927,000 | 14,140,000 | 18,635,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Tier 1 capital | 148,378,000 | 153,233,000 | 156,640,000 | 158,331,000 |
| Total capital | 163,542,000 | 168,397,000 | 171,119,000 | 172,810,000 |
| Risk-weighted assets | 1,376,770,000 | 1,504,288,000 | 1,464,775,000 | 1,514,621,000 |
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