Independent Bank Management
Management criteria checks 2/4
Independent Bank's CEO is Jeff Tengel, appointed in Feb 2023, has a tenure of 1.83 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 $2.14M. The average tenure of the management team and the board of directors is 1.8 years and 7.9 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 | 1.8yrs |
| Board average tenure | 7.9yrs |
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 ($USD6.65M).
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% $ 2.1m | |
| Chief Financial Officer | 5.7yrs | US$1.39m | 0.040% $ 1.1m | |
| Executive VP & Chief Human Resource Officer of Rockland Trust Company | no data | US$786.26k | 0.028% $ 774.0k | |
| Executive VP & Chief Commercial Banking Officer of Rockland Trust Company | 1.9yrs | US$743.45k | 0.025% $ 701.3k | |
| Executive VP & Chief Investment Officer | 1.2yrs | no data | no data | |
| Senior VP | 1.8yrs | no data | 0.012% $ 333.6k | |
| Executive VP & General Counsel | 1.6yrs | no data | 0.015% $ 425.6k | |
| 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 | 1.8yrs | no data | no data | |
| Executive VP | no data | no data | 0.0056% $ 156.0k | |
| Executive VP & Chief Credit Officer of Rockland Trust Company | 1.9yrs | no data | 0.019% $ 544.8k |
1.8yrs
Average Tenure
59.5yo
Average Age
Experienced Management: INDB's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.8yrs | US$5.21m | 0.076% $ 2.1m | |
| Independent Director | 19.7yrs | US$161.96k | 0.031% $ 871.9k | |
| Independent Director | 12.1yrs | US$148.66k | 0.030% $ 849.5k | |
| Independent Director | 15.7yrs | US$136.16k | 0.049% $ 1.4m | |
| Independent Director | 15.7yrs | US$146.81k | 0.061% $ 1.7m | |
| Independent Chairperson of the Board | 19.7yrs | US$211.66k | 0.030% $ 850.0k | |
| Independent Director | 3.3yrs | US$128.81k | 0.011% $ 318.7k | |
| Director | 7.8yrs | US$1.56m | 0.077% $ 2.2m | |
| Independent Director | 7.7yrs | US$138.01k | 0.014% $ 398.1k | |
| Independent Director | 3.8yrs | US$129.26k | 0.0086% $ 241.0k | |
| Independent Director | 5.7yrs | US$126.76k | 0.012% $ 334.7k | |
| Independent Director | 8.1yrs | US$136.81k | 0.016% $ 445.5k |
7.9yrs
Average Tenure
66yo
Average Age
Experienced Board: INDB's board of directors are considered experienced (7.9 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2024/12/22 13:02 |
| End of Day Share Price | 2024/12/20 00:00 |
| Earnings | 2024/09/30 |
| Annual Earnings | 2023/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .
Analyst Sources
Independent Bank Corp. is covered by 17 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Bryce Rowe | Baird |
| David Bishop | D.A. Davidson & Co. |
| Barry Sine | Drexel Hamilton |