Independent Bank Management
Management criteria checks 2/4
Independent Bank's CEO is Jeff Tengel, appointed in Feb 2023, has a tenure of 1.75 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 $2.30M. The average tenure of the management team and the board of directors is 1.7 years and 7.8 years respectively.
Key information
Jeff Tengel
Chief executive officer
US$5.2m
Total compensation
| CEO salary percentage | 17.3% |
| CEO tenure | 1.8yrs |
| CEO ownership | 0.08% |
| Management average tenure | 1.7yrs |
| Board average tenure | 7.8yrs |
Recent management updates
Recent updates
Independent Bank: Time For A Downgrade After A Monumental Rally
Sep 15Independent Bank: Just Worth Considering
May 31Independent 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 25CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Sep 30 2024 | n/a | n/a | US$197m |
| Jun 30 2024 | n/a | n/a | US$215m |
| 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 ($USD6.63M).
Compensation vs Earnings: Insufficient data to compare Jeff's compensation with company performance.
CEO
Jeff Tengel (61 yo)
1.8yrs
Tenure
US$5,213,225
Compensation
Mr. Jeffrey J. Tengel, also known as Jeff, is CEO & Director of Rockland Trust Company from 2023. Mr. Tengel has served as President, Chief Executive Officer and Director of Independent Bank Corp. and Chie...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.8yrs | US$5.21m | 0.076% $ 2.3m | |
| Chief Financial Officer | 5.6yrs | US$1.39m | 0.040% $ 1.2m | |
| Executive VP & Chief Human Resource Officer of Rockland Trust Company | no data | US$786.26k | 0.028% $ 829.9k | |
| Executive VP & Chief Commercial Banking Officer of Rockland Trust Company | 1.8yrs | US$743.45k | 0.025% $ 752.0k | |
| Executive VP & Chief Investment Officer | 1.1yrs | no data | no data | |
| Senior VP | 1.7yrs | no data | 0.012% $ 357.7k | |
| Executive VP & General Counsel | 1.5yrs | no data | 0.015% $ 456.3k | |
| 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 Retail Banking Officer | 1.7yrs | no data | no data | |
| Executive VP | no data | no data | 0.0056% $ 167.2k | |
| Executive VP & Chief Credit Officer of Rockland Trust Company | 1.8yrs | no data | 0.019% $ 584.2k |
1.7yrs
Average Tenure
59.5yo
Average Age
Experienced Management: INDB's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.8yrs | US$5.21m | 0.076% $ 2.3m | |
| Independent Director | 19.6yrs | US$161.96k | 0.031% $ 934.9k | |
| Independent Director | 12yrs | US$148.66k | 0.030% $ 910.8k | |
| Independent Director | 15.6yrs | US$136.16k | 0.049% $ 1.5m | |
| Independent Director | 15.6yrs | US$146.81k | 0.061% $ 1.8m | |
| Independent Chairperson of the Board | 19.6yrs | US$211.66k | 0.030% $ 911.4k | |
| Independent Director | 3.2yrs | US$128.81k | 0.011% $ 341.7k | |
| Director | 7.7yrs | US$1.56m | 0.077% $ 2.3m | |
| Independent Director | 7.6yrs | US$138.01k | 0.014% $ 426.8k | |
| Independent Director | 3.8yrs | US$129.26k | 0.0086% $ 258.4k | |
| Independent Director | 5.6yrs | US$126.76k | 0.012% $ 358.9k | |
| Independent Director | 8yrs | US$136.81k | 0.016% $ 477.7k |
7.8yrs
Average Tenure
66yo
Average Age
Experienced Board: INDB's board of directors are considered experienced (7.8 years average tenure).