| Business Summary | | Independent
Bank
Corp.
is
a
state
chartered,
federally
registered
bank
holding
company
for
Rockland
Trust
Company
(Rockland
or
the
Bank)
whose
community
banking
business
consists
of
commercial
banking,
retail
banking
and
trust
services
and
is
managed
as
a
single
strategic
unit.
The
community
banking
business
derives
its
revenues
from
a
wide
range
of
banking
services,
including
lending
activities,
acceptance
of
demand,
savings
and
time
deposits,
trust
and
investment
management,
and
mortgage
servicing
income
from
investors.
Rockland
offers
a
full
range
of
community
banking
services
through
its
network
of
51
banking
offices,
nine
commercial
lending
centers,
and
three
asset
management
and
trust
services
offices
located
in
the
Plymouth,
Norfolk,
Barnstable
and
Bristol
Counties
of
Southeastern
Massachusetts. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | INDB
(MA),
a
bank
holding
company,
is
engaged
in
commercial
banking,
retail
banking
and
trust
services.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
20%
to
$71.4
million.
Net
interest
income
after
loan
loss
provision
rose
25%
to
$40.4
million.
Net
income
rose
59%
to
$10.3
million.
Net
interest
income
reflects
an
increase
in
the
average
balance
of
the
loan
portfolio
and
lower
cost
of
funds.
Earnings
reflect
one-time
realized
gains
on
the
sale
of
securities. | More
from
Market Guide: Significant
Developments |
| | | | FY1999
Compensation | | Pay | Exer | |
| Douglas Philipsen, 61 Pres
and CEO, Chairman | $513K | -- | Richard Seaman, 41 CFO
and Treasurer | 236K | $47K | Richard Driscoll, 56 Exec.
VP of Retail and Operations Division of Rockland | 285K | -- | Ferdinand Kelley, 55 Exec.
VP of Commercial Lending Division of Rockland | 267K | 95K | Raymond Fuerschbach, 49 Sr.
VP and Human Resource Officer of Rockland | 130K | -- | Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|