Independent Bank Management
Management criteria checks 2/4
Independent Bank's CEO is Jeff Tengel, appointed in Feb 2023, has a tenure of 1.25 years. total yearly compensation is $5.21M, comprised of 17.3% salary and 82.7% bonuses, including company stock and options. directly owns 0.076% of the company’s shares, worth $1.65M. The average tenure of the management team and the board of directors is 1.2 years and 7.3 years respectively.
Key information
Jeff Tengel
Chief executive officer
US$5.2m
Total compensation
| CEO salary percentage | 17.3% |
| CEO tenure | 1.3yrs |
| CEO ownership | 0.08% |
| Management average tenure | 1.2yrs |
| Board average tenure | 7.3yrs |
Recent management updates
Recent updates
Independent Bank (NASDAQ:INDB) Is Increasing Its Dividend To $0.57
Mar 25
Independent Bank: High LTD Ratio Limits Growth Prospects
Jan 21Independent Bank's (NASDAQ:INDB) Dividend Will Be $0.55
Dec 18Independent Bank (NASDAQ:INDB) Is Paying Out A Larger Dividend Than Last Year
Mar 20Independent Bank (NASDAQ:INDB) Has Announced That It Will Be Increasing Its Dividend To $0.55
Dec 13Independent Bank Non-GAAP EPS of $1.57 beats by $0.15, revenue of $190.8M beats by $5.27M
Oct 20Independent Bank: Lagged Benefit Of Rising Rates To Lift Earnings
Oct 05Independent Bank declares $0.51 dividend
Sep 15Independent Bank Non-GAAP EPS of $1.32 beats by $0.06, revenue of $172.76M beats by $3.83M
Jul 21Independent Bank Corp.: Higher Average Loan Balance To Drive Earnings
Feb 06Here's Why I Think Independent Bank (NASDAQ:INDB) Might Deserve Your Attention Today
Oct 25Should Independent Bank Corp. (NASDAQ:INDB) Be Part Of Your Dividend Portfolio?
Mar 04Don't Ignore The Fact That This Insider Just Sold Some Shares In Independent Bank Corp. (NASDAQ:INDB)
Feb 06Independent Bank (NASDAQ:INDB) Has Gifted Shareholders With A Fantastic 106% Total Return On Their Investment
Feb 05CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2024 | n/a | n/a | US$226m |
| Dec 31 2023 | US$5m | US$904k | US$240m |
Compensation vs Market: Jeff's total compensation ($USD5.21M) is about average for companies of similar size in the US market ($USD5.66M).
Compensation vs Earnings: Insufficient data to compare Jeff's compensation with company performance.
CEO
Jeff Tengel (60 yo)
1.3yrs
Tenure
US$5,213,225
Compensation
Mr. Jeffrey J. Tengel, also known as Jeff, is Chief Executive Officer & Director of Independent Bank Corp. from February 06, 2023 and serves as its President since June 2023. He is Director & Chief Executi...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.3yrs | US$5.21m | 0.076% $ 1.6m | |
| Chief Financial Officer | 5.1yrs | US$1.39m | 0.040% $ 866.1k | |
| Executive VP & Chief Human Resource Officer of Rockland Trust Company | no data | US$786.26k | 0.028% $ 594.7k | |
| Executive VP & Chief Commercial Banking Officer of Rockland Trust Company | 1.3yrs | US$743.45k | 0.025% $ 539.2k | |
| Executive VP & Chief Investment Officer | less than a year | no data | no data | |
| Senior VP | 1.2yrs | no data | 0.012% $ 256.3k | |
| Executive VP & General Counsel | less than a year | no data | 0.015% $ 327.2k | |
| Executive VP & Chief Marketing Officer | no data | no data | no data | |
| Senior VP & Chief Internal Auditor | no data | no data | no data | |
| Executive VP & Chief Risk Officer | 1.8yrs | no data | 0.0075% $ 162.2k | |
| Executive VP & Chief Retail Banking Officer | 1.2yrs | no data | no data | |
| Treasurer | no data | no data | no data |
1.2yrs
Average Tenure
52yo
Average Age
Experienced Management: INDB's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.3yrs | US$5.21m | 0.076% $ 1.6m | |
| Independent Director | 19.1yrs | US$161.96k | 0.031% $ 663.2k | |
| Independent Director | 11.5yrs | US$148.66k | 0.015% $ 329.4k | |
| Independent Director | 15.1yrs | US$136.16k | 0.047% $ 1.0m | |
| Independent Director | 15.1yrs | US$146.81k | 0.058% $ 1.2m | |
| Independent Chairperson of the Board | 19.1yrs | US$211.66k | 0.027% $ 590.6k | |
| Independent Director | 2.7yrs | US$128.81k | 0.0087% $ 187.4k | |
| Director | 7.2yrs | US$1.56m | 0.077% $ 1.7m | |
| Independent Director | 7.1yrs | US$138.01k | 0.012% $ 248.4k | |
| Independent Director | 3.3yrs | US$129.26k | 0.0059% $ 127.7k | |
| Independent Director | 5.1yrs | US$126.76k | 0.0093% $ 199.7k | |
| Independent Director | 7.5yrs | US$136.81k | 0.013% $ 285.0k |
7.3yrs
Average Tenure
65yo
Average Age
Experienced Board: INDB's board of directors are considered experienced (7.3 years average tenure).