INDB on Nasdaq
Innovative Development Bank Ltd.
Nepali development banking company, incorporated in Massachusetts1
In its 2026 annual report the company says: “The Company is the sole stockholder of Rockland Trust Company, a Massachusetts trust company chartered in 1907.”6 Its shares trade on Nasdaq under the symbol INDB.1
Price unavailable
Last updated Oct 21, 2026.
Overview
- TickerINDB on Nasdaq1
- Industrydevelopment banking industry1
- HeadquartersRockland, Massachusetts1
- Incorporated inMA3
- Business address288 Union Street, Rockland, Ma 023703
- Filer categoryLarge accelerated filer3
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Independent Bank Corp. (the “Company”) is a state chartered, federally registered bank holding company headquartered in Rockland, Massachusetts that was incorporated under Massachusetts law in 1985. The Company is the sole stockholder of Rockland Trust Company (“Rockland Trust” or the “Bank”), a Massachusetts trust company chartered in 1907. The Bank provides a wide range of banking, investment and financial services, operating with over 150 retail branches, as well as a network of commercial and residential lending centers, and investment management offices primarily in Eastern Massachusetts, as well as in Worcester County, southern New Hampshire, and Rhode Island. Rockland Trust also offers a full suite of mobile, online, and telephone banking services. At December 31, 2025, the Company had total assets of $24.9 billion, total deposits of $20.1 billion, and stockholders’ equity of $3.6…6 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Interest | $148.2M7 | $95.1M8 | $63.2M9 | $96.8M9 | $414.9M9 | |||
| Income before tax | $282.2M9 | $246.3M9 | $52.3M9 | $247.1M10 | $262.2M10 | |||
| Income tax | $53.5M7 | $51.2M8 | $57.5M9 | $50.0M9 | $9.1M9 | $55.0M10 | $57.0M10 | |
| Net income | $192.7M7 | $201.2M8 | $224.8M9 | $196.3M9 | $43.2M9 | $192.1M10 | $205.1M10 | |
| Earnings per share | $4.467 | $4.678 | $5.229 | $4.719 | $1.059 | $4.5210 | $4.4410 | |
| Earnings per share (diluted) | $4.467 | $4.678 | $5.219 | $4.709 | $1.049 | $4.5210 | $4.4410 | |
| Shares (weighted, basic) | 42.7M shares9 | 41.4M shares9 | 41.2M shares9 | 42.5M shares10 | 46.2M shares10 | |||
| Shares (weighted, diluted) | 42.7M shares9 | 41.5M shares9 | 41.3M shares9 | 42.5M shares10 | 46.2M shares10 |
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash | $565.2M13 | $1.8B7 | $2.6B8 | $654.3M9 | $722.0M9 | $219.9M10 | $771.9M10 | |
| Property, plant and equipment | $308.0M8 | $355.4M9 | $355.8M9 | $193.3M10 | $218.2M10 | |||
| Goodwill | $994.0M8 | $994.0M9 | $994.0M9 | $985.1M10 | $1.1B10 | |||
| Intangible assets | $75.5M8 | $63.0M9 | $50.6M9 | $12.3M10 | $133.6M10 | |||
| Total assets | $15.0B13 | $17.8B7 | $18.7B8 | $18.3B9 | $19.0B9 | $19.4B10 | $24.9B10 | |
| Long-term debt | $187.4M14 | $145.3M15 | $126.7M16 | $112.7M17 | $112.8M18 | $62.9M10 | $359.3M10 | |
| Total liabilities | $12.6B13 | $15.2B7 | $16.2B8 | $15.9B9 | $16.6B9 | $16.4B10 | $21.3B10 | |
| Retained earnings | $625.5M8 | $638.4M9 | $616.7M9 | $1.2B10 | $1.3B10 | |||
| Shareholders’ equity | $2.3B8 | $2.5B9 | $2.6B9 | $2.4B9 | $2.4B9 | $3.0B10 | $3.6B10 | |
| Shares outstanding | 43.0M shares13 | 43.1M shares7 | 42.8M shares8 | 41.2M shares9 | 41.3M shares9 | 42.5M shares10 | 49.2M shares10 | 49.0M shares10 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | $173.3M7 | $154.3M8 | $277.4M9 | $217.2M9 | $165.3M9 | $229.9M10 | $251.2M10 | |
| Depreciation and amortization | $32.8M17 | $38.8M18 | $36.1M10 | $40.9M10 | $42.1M10 | |||
| Stock-based compensation | $10.7M9 | $13.7M9 | $7.5M9 | $6.5M10 | $9.0M10 | |||
| Capital spending | $31.7M7 | $21.1M8 | $71.4M9 | $63.0M9 | $21.0M9 | $20.4M10 | $12.1M10 | |
| Free cash flow | $141.6M | $133.2M | $206.1M | $154.3M | $144.3M | $209.5M | $239.0M | |
| Cash from investing | -$294.5M9 | -$1.7B9 | -$688.1M9 | -$33.0M10 | $5.0M10 | |||
| Dividends paid | $53.3M15 | $60.8M16 | $62.7M17 | $93.7M18 | $98.0M10 | $96.2M10 | $103.9M10 | |
| Share buybacks | $51.7M7 | $5.8M8 | $32.1M9 | $119.7M9 | $2.2M9 | $31.0M10 | $60.8M10 | |
| Cash from financing | $811.5M9 | -$482.7M9 | $590.5M9 | -$201.4M10 | $295.8M10 | |||
| Dividend per share | $1.007 | $1.058 | $1.329 | $1.529 | $1.529 | $2.2810 | $2.3610 |
Compare Innovative Development Bank Ltd. with another company
Corporate structure
Innovative Development Bank Ltd. sits at the top of its group. 5 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Innovative Development Bank Ltd.
- State Street Corporation Filed SCHEDULE 13G on Innovative Development Bank Ltd., latest May 12, 2026 (3 filings since Jan 24, 2024)
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Innovative Development Bank Ltd., latest Apr 30, 2026
- VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on Innovative Development Bank Ltd., latest Apr 29, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Innovative Development Bank Ltd., latest Mar 27, 2026 (8 filings since Feb 10, 2022)
- DIMENSIONAL FUND ADVISORS LP Filed SCHEDULE 13G/A on Innovative Development Bank Ltd., latest Apr 15, 2025 (5 filings since Feb 8, 2022)
- Capital Research Global Investors Filed SC 13G/A on Innovative Development Bank Ltd., latest Feb 9, 2024 (3 filings since Feb 11, 2022)
- FMR LLC Filed SC 13G/A on Innovative Development Bank Ltd., latest Feb 9, 2024 (2 filings since Feb 9, 2023)
- BlackRock Filed SC 13G/A on Innovative Development Bank Ltd., latest Jan 23, 2024 (10 filings since Jan 25, 2022)
- Vincent Viola Filed SC 13G/A on Innovative Development Bank Ltd., latest Feb 13, 2023
- Innovative Development Bank Ltd. Rockland, Massachusetts
- Central Bancorp Capital Trust I Subsidiary · Delaware, United States
- Central Bancorp Statutory Trust II Subsidiary · Connecticut, United States
- Independent Capital Trust V Subsidiary · Delaware, United States
- Rockland Trust Company Subsidiary · Massachusetts, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Innovative Development Bank Ltd. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $405.4M10 Dec 31, 2025 | $358.2M10 Dec 31, 2024 | +13.2% |
| Accumulated depreciation | $187.2M10 Dec 31, 2025 | $164.9M10 Dec 31, 2024 | +13.5% |
| Property and equipment, net | $218.2M10 Dec 31, 2025 | $193.3M10 Dec 31, 2024 | +12.9% |
| Operating-lease assets (leased space) | $73.2M10 Dec 31, 2025 | $54.5M10 Dec 31, 2024 | +34.3% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Equity securities at fair value | $21.6M10 Dec 31, 2025 | $21.2M10 Dec 31, 2024 | +1.8% |
| Deposits held (banks) | $20.1B10 Dec 31, 2025 | $15.3B10 Dec 31, 2024 | +31.5% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $1.1B10 Dec 31, 2025 | $985.1M10 Dec 31, 2024 | +10.7% |
| Intangible assets, net (excluding goodwill) | $133.6M10 Dec 31, 2025 | $12.3M10 Dec 31, 2024 | +987.4% |
| Finite-lived intangibles, gross | $188.5M10 Dec 31, 2025 | $50.3M10 Dec 31, 2024 | +275.0% |
| Accumulated amortization | $54.9M10 Dec 31, 2025 | $38.0M10 Dec 31, 2024 | +44.5% |
| Finite-lived intangibles, net | $133.6M10 Dec 31, 2025 | $12.3M10 Dec 31, 2024 | +987.4% |
Properties, in its own words
At December 31, 2025, the Bank conducted its business from its main retail branch located at 288 Union Street, Rockland, Massachusetts, 149 retail branches and one mobile branch located within Eastern Massachusetts, Worcester County, and southern New Hampshire. In addition to its main office, the Bank leased 88 of its branches and owned the remaining 62 branches. In addition to these branch locations, the Bank had 57 remote ATM locations, all of which are leased.
The Bank’s executive administration offices are located in Hanover, Massachusetts while the remaining administrative and operations locations are housed in several different campuses. Additionally, the Bank operates a number of commercial banking and mortgage lending centers, as well as investment management offices not associated with a branch location throughout the Bank’s footprint.
The rest of Item 2
For additional information regarding the Bank’s premises and equipment and lease obligations, see Notes 5, “Bank Premises and Equipment” and 17 “Leases,” respectively, within the Notes to Consolidated Financial Statements included in Item 8 of this Report.
Item 2 of the 10-K filed Feb 27, 2026.6
Leadership
Who has led Innovative Development Bank Ltd., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
- Chief executive officerJeffrey J. Tengel Feb 15, 2023 to now19
- Chief executive officerDavid R. Brooks Apr 2, 2013 to Jan 3, 202520
- Chief executive officerChristopher Oddleifson Jan 4, 2006 to Jan 31, 202321
- Chief executive officerFerdinand T. Kelley Feb 1, 2006 to Feb 1, 200622
- ChairDavid R. Brooks Apr 2, 2013 to Jan 3, 202520
- PresidentGerard F. Nadeau Feb 13, 2019 to now23
- PresidentDavid R. Brooks Oct 21, 2016 to Jan 28, 202224
- PresidentTorry Berntsen Apr 2, 2013 to Jun 28, 201625
- PresidentChristopher Oddleifson Jan 4, 2006 to Jul 26, 201821
- Chief financial officerPaul B. Langdale Aug 8, 2022 to Jan 3, 202526
- Chief financial officerMark J. Ruggiero Nov 5, 2019 to Aug 8, 202227
- Chief financial officerMichelle S. Hickox Apr 2, 2013 to Aug 2, 202228
- Chief financial officerRobert D. Cozzone Sep 12, 2013 to Mar 21, 201929
- Chief financial officerDenis K. Sheahan Aug 16, 2006 to Feb 19, 201430
- Chief operating officerMichael B. Hobbs Nov 23, 2021 to Jan 3, 202531
- Chief operating officerRobert D. Cozzone Oct 30, 2019 to Mar 15, 202332
- Chief operating officerDenis K. Sheahan Mar 24, 2014 to Mar 20, 201533
- Chief operating officerTorry Berntsen Apr 2, 2013 to Mar 29, 201625
Board members and other officers (75)
- Chief Risk OfficerTamina O'Neill Aug 12, 2025 to now34
- Executive AdvisorChristopher Oddleifson Feb 17, 2023 to Jul 11, 202335
- EVP, Chief Accounting OfficerBrenda K. Montgomery Feb 24, 2023 to Jan 3, 202536
- Principal Accounting OfficerMaureen A. Gaffney Mar 22, 2023 to now37
- Chief Tech & Operations Off.Lee C. Powlus Sep 18, 2023 to now38
- Chief Credit OfficerKathryn O'Malley Dec 19, 2023 to now39
- Chief Risk OfficerDawn Mugford Aug 23, 2022 to Feb 26, 202440
- EVP, Chief Risk OfficerJohn G. Turpen Jul 29, 2021 to Jan 3, 202541
- EVP/ Chief Lending OfficerMichael B. Hobbs Jan 28, 2020 to Jul 7, 202142
- EVP Corporate ResponsibilityJames P. Tippit Jan 17, 2018 to Jan 3, 202543
- Senior Vice PresidentMaria S. Harris Mar 31, 2017 to now44
- Executive Vice PresidentPamela L. Frey Apr 3, 2017 to Dec 4, 201745
- Vice chairJames D. Stein Jun 30, 2014 to Jun 30, 201446
- Vice chairBrian E. Hobart Apr 2, 2013 to Apr 26, 201947
- EVP and SecretaryJan C. Webb Apr 2, 2013 to Dec 6, 201848
- Principal Accounting OfficerMark J. Ruggiero Sep 10, 2013 to Mar 21, 201949
- Principal Accounting OfficerBarry H. Jensen Sep 8, 2009 to Aug 23, 202350
- Executive Vice PresidentJane Lundquist Jan 31, 2007 to Sep 1, 201651
- Executive Vice PresidentGerard F. Nadeau Jul 6, 2007 to Feb 15, 201852
- Executive Vice PresidentFerdinand T. Kelley Jan 30, 2006 to Feb 20, 200753
- Senior Vice PresidentRaymond G. Fuerschbach May 1, 2006 to May 2, 201754
- Chief Technology & Ops OfficerEdward F. Jankowski May 9, 2006 to Mar 25, 201455
- Board memberAparna Ramesh Apr 9, 2025 to now56
- Board memberDawn Perry Apr 9, 2025 to now57
- Board memberLeif O'Leary Apr 9, 2025 to now58
- Board memberJoseph C. Lerner Jul 3, 2025 to now59
- Board memberKen S. Ansin Jul 3, 2025 to now60
- Board memberJeffrey J. Tengel Feb 15, 2023 to now19
- Board memberJanet P. Froetscher May 22, 2023 to Jan 3, 202561
- Board memberJames O'Shanna Morton Feb 3, 2021 to now62
- Board memberWarren Q. Fields Feb 3, 2021 to May 22, 202363
- Board memberPaul Washington Mar 30, 2021 to Jan 3, 202564
- Board memberSusan Perry O'Day Sep 2, 2021 to now65
- Board memberPaul W. Taylor Jan 3, 2019 to May 3, 201966
- Board memberWilliam M. Parent Apr 1, 2019 to Dec 4, 201967
- Board memberAlicia Kuhn Harrison Jun 13, 2019 to Jan 3, 202568
- Board memberChristopher M. Doody Apr 11, 2017 to Feb 2, 201869
- Board memberMark K. Gormley Apr 11, 2017 to Dec 16, 201970
- Board memberTom C. Nichols Apr 11, 2017 to Jun 13, 201971
- Board memberGerard F. Nadeau May 2, 2017 to now72
- Board memberMary L. Lentz Nov 10, 2016 to now73
- Board memberFrederick Taw Jul 14, 2015 to May 26, 202274
- Board memberDonald L. Poarch May 2, 2014 to Jan 3, 202575
- Board memberJames D. Stein May 2, 2014 to Feb 2, 201676
- Board memberDavid R. Brooks Jun 6, 2014 to Jun 6, 201477
- Board memberBrian E. Hobart Apr 2, 2013 to Apr 26, 201947
- Board memberCraig E. Holmes Apr 2, 2013 to Jan 3, 202578
- Board memberDouglas A. Cifu Apr 2, 2013 to Jun 13, 201979
- Board memberG. Stacy Smith Apr 2, 2013 to Jan 3, 202580
- Board memberJack M. Radke Apr 2, 2013 to Dec 6, 201681
- Board memberM. Brian Aynesworth Iii. Apr 2, 2013 to Feb 17, 201682
- Board memberMichael T. Viola Apr 2, 2013 to Jan 3, 202583
- Board memberTorry Berntsen Apr 2, 2013 to Jun 28, 201625
- Board memberJohn J. Morrissey Nov 14, 2012 to now84
- Board memberDaniel F. Obrien Apr 20, 2009 to now85
- Board memberThomas R. Venables Apr 20, 2009 to now86
- Board memberWilliam P. Bissonnette Apr 20, 2009 to Dec 28, 201787
- Board memberChristopher Oddleifson Jan 4, 2006 to Mar 15, 202321
- Board memberAlfred L. Donovan Jan 23, 2006 to Apr 19, 200688
- Board memberRichard S. Anderson Jan 25, 2006 to May 23, 201389
- Board memberW. Paul Clark Jan 25, 2006 to Apr 18, 200790
- Board memberEileen C. Miskell Jan 26, 2006 to now91
- Board memberJohn H. Spurr Jr. Jan 26, 2006 to Dec 14, 201892
- Board memberKevin J. Jones Jan 26, 2006 to Mar 21, 202393
- Board memberRichard H. Sgarzi Apr 7, 2006 to May 21, 201494
- Board memberBenjamin A. Gilmore Ii. Apr 19, 2006 to May 21, 201495
- Board memberBrian S. Tedeschi Apr 19, 2006 to Jan 6, 202096
- Board memberDonna A. Lopolito Apr 19, 2006 to now97
- Board memberE. Winthrop Hall Apr 19, 2006 to Apr 19, 200698
- Board memberThomas J. Teuten Apr 19, 2006 to May 26, 201199
- Board memberRobert D. Sullivan Apr 20, 2006 to May 23, 2013100
- General counselPatricia M. Natale May 30, 2023 to now101
- General counselMark S. Haynie Mar 1, 2018 to Jan 3, 2023102
- General counselBrian E. Hobart Apr 2, 2013 to Apr 26, 201947
- General counselEdward H. Seksay Feb 20, 2007 to May 23, 2023103
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Banking Subsidiary Texas4
- Cenbank Statutory Trust III Delaware4
- Central Bancorp Capital Trust I Delaware5
- Central Bancorp Statutory Trust II Connecticut5
- Community Group Statutory Trust I Delaware4
- Guaranty Capital Trust III Delaware4
- IB Centex Trust I Delaware4
- IB Trust I Delaware4
- IB Trust II Delaware4
- IB Trust III Delaware4
- IBG Aircraft Company III Texas4
- IBG Real Estate Holdings II, Inc. Texas4
- Independent Capital Trust V Delaware5
- McKinney Avenue Holdings, Inc. Texas4
- Nonbanking Subsidiaries Texas4
- Northstar Statutory Trust II Delaware4
- Northstar Statutory Trust III Delaware4
- Parent Texas4
- Preston Grand, Inc. Texas4
- Private Capital Management, LLC Colorado4
- Rockland Trust Company Massachusetts5
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- INDEPENDENT BANK CORP /MA/Feb 14, 1994 to Jul 24, 19953
Timeline
- Oct 15, 20268-K Results of operations; Regulation FD disclosure104
- Sep 17, 20268-K Other events105
- Sep 8, 20268-K Regulation FD disclosure106
- Jul 27, 20268-K Regulation FD disclosure107
- Jul 16, 20268-K Results of operations; Regulation FD disclosure108
- Jun 18, 20268-K Other events109
- Jun 16, 20268-K Regulation FD disclosure110
- May 14, 20268-K Shareholder vote111
- May 1, 20268-K Other events112
- Apr 16, 20268-K Results of operations; Regulation FD disclosure113
- Apr 13, 20268-K Executive or director change114
- Mar 19, 20268-K Other events115
- Feb 15, 2023New chief executive Jeffrey J. Tengel becomes CEO19
- Apr 2, 2013New chief executive David R. Brooks becomes CEO20
- Feb 1, 2006New chief executive Ferdinand T. Kelley becomes CEO22
- Jan 4, 2006New chief executive Christopher Oddleifson becomes CEO21
Calendar
Coming up
- Around Jan 14, 2027Next results, estimated About a quarter after its last report. The company hasn't announced the date.
When it reported results
- Oct 15, 2026Reported quarterly or annual results104
- Jul 16, 2026Reported quarterly or annual results108
- Apr 16, 2026Reported quarterly or annual results113
- Jan 22, 2026Reported quarterly or annual results116
- Oct 16, 2025Reported quarterly or annual results117
- Jul 17, 2025Reported quarterly or annual results118
- Apr 17, 2025Reported quarterly or annual results119
- Jan 16, 2025Reported quarterly or annual results120
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
749 filings to the SEC since October 2021: 8 annual reports, 25 quarterly reports, 130 major events, 462 insider forms, 34 large holders, 90 other. The latest 20:
- Oct 15, 20268-K 8-K - Q3 2026 EARNINGS RELEASE EDGAR
- Sep 17, 20268-K 8-K - Q3 2026 COMMON DIVIDEND EDGAR
- Sep 8, 20268-K 8-K RAYMOND JAMES INVESTOR PRESENTATION EDGAR
- Aug 31, 20264 EDGAR
- Aug 26, 20264 EDGAR
- Aug 25, 2026144 EDGAR
- Aug 6, 202610-Q 10-Q Q2 2026 EDGAR
- Aug 5, 20264 EDGAR
- Aug 3, 2026144 EDGAR
- Jul 27, 20268-K 8-K - INVESTOR PRESENTATION EDGAR
- Jul 16, 20268-K 8-K - Q2 2026 EARNINGS RELEASE EDGAR
- Jun 25, 202611-K 11-K 2025 EDGAR
- Jun 18, 20268-K 8-K - Q2 2026 COMMON DIVIDEND EDGAR
- Jun 16, 20268-K EDGAR
- Jun 1, 20264 EDGAR
- May 21, 20264 EDGAR
- May 21, 20264 EDGAR
- May 21, 20264 EDGAR
- May 21, 20264 EDGAR
- May 21, 20264 EDGAR
The 749 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
41 open-market trades by officers, directors and large owners since October 2021: 6 buys and 35 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 25, 2026 | Venables Thomas RDirector | Sale | 3,750 | $83.00 | $311.2K | Form 4 |
| Aug 3, 2026 | Nadeau Gerard FDirector | Sale | 5,307 | $84.69 | $449.4K | Form 4 |
| May 18, 2026 | LERNER JOSEPH CDirector | Sale | 2,832 | $77.31 | $218.9K | Form 4 |
| Feb 6, 2026 | MORRISSEY JOHN JDirector | Sale | 1,988 | $85.70 | $170.4K | Form 4 |
| Feb 4, 2026 | Abelli Donna LDirector | Sale | 524 | $85.00 | $44.5K | Form 4 |
| Dec 5, 2025 | Venables Thomas RDirector | Sale | 405 | $73.93 | $29.9K | Form 4 |
| Dec 3, 2025 | Nadeau Gerard FDirector | Sale | 2,000 | $74.11 | $148.2K | Form 4 |
| Nov 21, 2025 | Nadeau Gerard FDirector | Sale | 3,000 | $70.00 | $210.0K | Form 4 |
| Nov 14, 2025 | ANSIN KEN SDirector | Sale | 53,000 | $69.06 | $3.7M | Form 4 |
| Nov 10, 2025 | ANSIN KEN SDirector | Sale | 144,000 | $69.94 | $10.1M | Form 4 |
| Sep 10, 2025 | ANSIN KEN SDirector | Sale | 25,000 | $69.72 | $1.7M | Form 4 |
| Sep 9, 2025 | ANSIN KEN SDirector | Sale | 25,000 | $70.17 | $1.8M | Form 4 |
| Aug 14, 2025 | OBrien Daniel FDirector | Sale | 3,781 | $66.88 | $252.9K | Form 4 |
| Aug 13, 2025 | Nadeau Gerard FDirector | Sale | 1,500 | $67.51 | $101.3K | Form 4 |
| Aug 12, 2025 | Nadeau Gerard FDirector | Sale | 3,500 | $66.00 | $231.0K | Form 4 |
| Jun 13, 2025 | Venables Thomas RDirector | Sale | 1,000 | $64.52 | $64.5K | Form 4 |
| Jun 10, 2025 | MISKELL EILEEN CDirector | Sale | 938 | $65.68 | $61.6K | Form 4 |
| Feb 11, 2025 | Abelli Donna LDirector | Sale | 640 | $70.03 | $44.8K | Form 4 |
| Jun 3, 2024 | MISKELL EILEEN CDirector | Sale | 1,134 | $50.22 | $56.9K | Form 4 |
| Mar 1, 2024 | Ruggiero Mark JCFO & EVP Consumer Lending | Buy | 500 | $51.09 | $25.5K | Form 4 |
All 41 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- State Street CorporationSCHEDULE 13G, 3 filings Jan 24, 2024 to May 12, 2026121
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 30, 2026122
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 2026123
- VANGUARD GROUP INCSCHEDULE 13G/A, 8 filings Feb 10, 2022 to Mar 27, 2026124
- DIMENSIONAL FUND ADVISORS LPSCHEDULE 13G/A, 5 filings Feb 8, 2022 to Apr 15, 2025125
- Capital Research Global InvestorsSC 13G/A, 3 filings Feb 11, 2022 to Feb 9, 2024126
- FMR LLCSC 13G/A, 2 filings Feb 9, 2023 to Feb 9, 2024127
- BlackRockSC 13G/A, 10 filings Jan 25, 2022 to Jan 23, 2024128
- Vincent ViolaSC 13G/A, 1 filing Feb 13, 2023129
SEC filer profile
How Innovative Development Bank Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARINDEPENDENT BANK CORP2
- CIK0000776901
- Employer ID (EIN)04-28702736
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company6
- Incorporated inMassachusetts6
- Fiscal year endsDecember 312
- Industry code (SIC)6022 State Commercial Banks2
- SEC reviewing officeOffice of Finance, Division of Corporation Finance2
- Business address1 Technology Place, Rockland, MA2
- Phone78187861002
- Shares outstanding47,369,099 as of Aug 4, 202612
- Public float$2.7B as of Jun 30, 20256
- AuditorErnst & Young LLP, Boston, Massachusetts PCAOB ID 42; it also attests to the company’s internal control over financial reporting6
- On EDGAR sinceFeb 14, 19942
- Filings2,716 in all: 4 (1,539), 8-K (523), 10-Q (95), 4/A (82), 425 (55), SC 13G/A (53), 3 (39), 11-K (34)2
All 47 form types
10-K (29), DEF 14A (29), DEFA14A (21), SC 13G (18), EFFECT (16), 424B3 (15), 8-K/A (14), S-8 (14), 144 (13), S-4 (12), S-4/A (12), CORRESP (9), CT ORDER (8), S-3 (8), S-3ASR (8), UPLOAD (8), ARS (7), 10-K/A (5), 10-Q/A (5), 3/A (5), 8-A12G (5), S-3/A (5), PRE 14A (4), SCHEDULE 13G (4), 424B1 (3), 10-K405 (2), 25-NSE (2), 5 (2), FWP (2), RW (2), 144/A (1), 305B2 (1), 424B2 (1), 424B5 (1), DEL AM (1), NO ACT (1), POS AM (1), PRE 14C (1), SCHEDULE 13G/A (1)
- Latest filingsAnnual report (10-K) Feb 27, 2026
Quarterly report (10-Q) Aug 6, 2026
Proxy statement (DEF 14A) Mar 26, 2026
Latest 8-K (8-K) Oct 15, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.01 par value per share | INDB | NASDAQ |
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).6
Risk factors and legal proceedings
The risks Innovative Development Bank Ltd. names in Item 1A of its 10-K filed Feb 27, 2026: 36 risks under these headings, as written.6
- External and Market-Related Risks
- Changes in global, national or local economic conditions, including those in the states of Massachusetts and New Hampshire, may pose significant challenges for the Company and could adversely affect its financial condition and results of operations.
- Negative developments in the banking industry could adversely affect the Company’s financial conditions and results of operations.
- The soundness of other financial institutions could adversely affect the Company’s liquidity and operations.
- Risks Related to Changes in Interest Rates
- Changes in interest rates and other factors could adversely impact the Company’s financial condition and results of operations.
- Risks Related to the Company’s Lending Activities
- If the Company experiences credit losses at a level higher than anticipated in the Company’s models, its earnings could materially decrease.
- A significant portion of the Company’s loan portfolio is secured by real estate, and events that negatively impact the real estate market could adversely affect asset quality and the profitability of loans secured by real property including potentially increasing the number of defaults and loan loss levels.
- The Company’s emphasis on originating commercial loans may increase lending risks.
- The Company may experience losses and expenses if security interests granted for loans are not enforceable.
- The Company is subject to environmental liability risk associated with lending activities which could have a material adverse effect on its financial condition and results of operations.
The other 27 risks
- Risks Related to Legal, Regulatory and Policy Matters
- The Company operates in a highly regulated environment and may be adversely impacted by changes in industry practices, laws, regulations, and accounting standards.
- The costs of compliance with fair lending laws or negative outcomes with respect to challenges of the Company’s compliance with such laws, inclusive of laws impacting banks exceeding $10 billion in total assets, could have a material adverse effect on the Company’s business, financial condition or results of operations or could damage the Company’s reputation.
- The impact of changes to the Internal Revenue Code or federal, state or local taxes may adversely affect the Company’s financial results or business.
- Claims and litigation could result in losses and damage to the Company’s reputation.
- Changes in U.S. trade policies and other global political factors beyond the Company’s control, including the imposition of tariffs, retaliatory tariffs, or other sanctions, may adversely impact the Company’s business, financial condition and results of operations.
- The Company may not be able to detect money laundering and other illegal or improper activities fully or on a timely basis, which could expose it to additional liability and could have a material adverse effect on the Company.
- Risks Related to the Company’s Strategic Activities
- Acquisitions may be more difficult, costly or time consuming than expected, and the expected benefits of such acquisitions may not be realized.
- The Company may not realize the value of strategic investments and strategic initiatives that it pursues and such investments and initiatives could divert resources or introduce unforeseen risks to the Company’s business.
- Risks Related to Financial and Accounting Matters
- The Company’s securities portfolio performance in difficult market conditions could have adverse effects on the Company’s results of operations.
- Impairment of goodwill and/or intangible assets could require charges to earnings, which could result in a negative impact on the Company’s results of operations.
- Deterioration in the performance or financial position of the Federal Home Loan Bank (“FHLB”) of Boston might restrict the FHLB of Boston’s ability to meet the funding needs of its members, cause a suspension of its dividend, and cause its stock to be determined to be impaired.
- Reductions in the value of the Company’s deferred tax assets could adversely affect the Company’s results of operations.
- Some of the Company’s accounting policies require the use of estimates and assumptions that affect the value of the Company’s assets and liabilities and results of operations and if actual events differ from the Company’s estimates and assumptions, the Company’s results of operations and financial condition could be materially adversely affected.
- Risks Related to Information Security and Technology
- The need to mitigate against and react to cyber-security risks, and electronic fraud risks require significant resources, and any system failure, a cyber-security attack or electronic fraud which impacts the Company or its third-party service providers could result in increased operating costs as well as litigation and other liabilities.
- The pace of technology continues to evolve at a rapid pace and may present challenges for the Company to understand and adapt to these changes.
- The development and use of AI presents risks and challenges that may adversely impact the Company’s business.
- The Company is subject to laws regarding the privacy, information security and protection of personal information and any violation of these laws or an incident involving personal, confidential, or proprietary information of individuals could damage the Company’s reputation and otherwise adversely affect its results of operations and financial condition.
- The Company’s controls and procedures may be inadequate, and failure to comply with controls and procedures or related regulations could have a material adverse effect on the Company’s business, results of operations and financial condition.
- Risks Related to Liquidity
- The Company may be unable to adequately manage its liquidity risk, which could affect its ability to meet its obligations as they become due, capitalize on growth opportunities, or pay dividends on its common stock.
- Risks Related to Environmental and Social Matters
- Responses to climate change could adversely affect the Company’s business and performance, including indirectly through impacts on its customers.
- Environmental, social and governance risks could adversely affect the Company’s reputation, business and performance and the trading price of its common stock.
- Risks Related to the Company’s Business and Industry Generally
- The Company’s business depends on maintaining the trust and confidence of customers and other market participants, and the Company’s reputation is critical to its business.
- If the Company’s risk management framework does not effectively identify or mitigate the Company’s risks, the Company could suffer unexpected losses and its results of operations and financial condition could be materially adversely affected.
- The Company has strong competition within its market area which may constrain the Company’s ability to grow and achieve profitability.
- The success of the Company is dependent on the Company’s ability to attract, hire and retain key personnel.
- Natural disasters, severe weather, public health crises or other catastrophic or man-made events could have an adverse effect on the Company’s business or results of operations.
- Risks of Owning Stock in the Company
- Our stock price can be volatile.
Legal proceedings
At December 31, 2025, the Bank was involved in pending lawsuits, which management has reviewed with legal counsel and has taken into consideration the view of counsel as to their outcome. In the opinion of management, the final disposition of pending lawsuits is not expected to have a material adverse effect on the Company’s financial position or results of operations.
The opening of Item 3, Legal Proceedings.6
Links
- WikidataQ96112833
- SEC EDGARCIK 776901
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 23SEC EDGARGerard F. Nadeau, President
- 24SEC EDGARDavid R. Brooks, President
- 25SEC EDGARTorry Berntsen, President
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- 34SEC EDGARTamina O'Neill, Chief Risk Officer
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- 40SEC EDGARDawn Mugford, Chief Risk Officer
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- 46SEC EDGARJames D. Stein, Vice chair
- 47SEC EDGARBrian E. Hobart, Vice chair
- 48SEC EDGARJan C. Webb, EVP and Secretary
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- 56SEC EDGARAparna Ramesh, Board member
- 57SEC EDGARDawn Perry, Board member
- 58SEC EDGARLeif O'Leary, Board member
- 59SEC EDGARJoseph C. Lerner, Board member
- 60SEC EDGARKen S. Ansin, Board member
- 61SEC EDGARJanet P. Froetscher, Board member
- 62SEC EDGARJames O'Shanna Morton, Board member
- 63SEC EDGARWarren Q. Fields, Board member
- 64SEC EDGARPaul Washington, Board member
- 65SEC EDGARSusan Perry O'Day, Board member
- 66SEC EDGARPaul W. Taylor, Board member
- 67SEC EDGARWilliam M. Parent, Board member
- 68SEC EDGARAlicia Kuhn Harrison, Board member
- 69SEC EDGARChristopher M. Doody, Board member
- 70SEC EDGARMark K. Gormley, Board member
- 71SEC EDGARTom C. Nichols, Board member
- 72SEC EDGARGerard F. Nadeau, Board member
- 73SEC EDGARMary L. Lentz, Board member
- 74SEC EDGARFrederick Taw, Board member
- 75SEC EDGARDonald L. Poarch, Board member
- 76SEC EDGARJames D. Stein, Board member
- 77SEC EDGARDavid R. Brooks, Board member
- 78SEC EDGARCraig E. Holmes, Board member
- 79SEC EDGARDouglas A. Cifu, Board member
- 80SEC EDGARG. Stacy Smith, Board member
- 81SEC EDGARJack M. Radke, Board member
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- 83SEC EDGARMichael T. Viola, Board member
- 84SEC EDGARJohn J. Morrissey, Board member
- 85SEC EDGARDaniel F. Obrien, Board member
- 86SEC EDGARThomas R. Venables, Board member
- 87SEC EDGARWilliam P. Bissonnette, Board member
- 88SEC EDGARAlfred L. Donovan, Board member
- 89SEC EDGARRichard S. Anderson, Board member
- 90SEC EDGARW. Paul Clark, Board member
- 91SEC EDGAREileen C. Miskell, Board member
- 92SEC EDGARJohn H. Spurr Jr., Board member
- 93SEC EDGARKevin J. Jones, Board member
- 94SEC EDGARRichard H. Sgarzi, Board member
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- 97SEC EDGARDonna A. Lopolito, Board member
- 98SEC EDGARE. Winthrop Hall, Board member
- 99SEC EDGARThomas J. Teuten, Board member
- 100SEC EDGARRobert D. Sullivan, Board member
- 101SEC EDGARPatricia M. Natale, General counsel
- 102SEC EDGARMark S. Haynie, General counsel
- 103SEC EDGAREdward H. Seksay, General counsel
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- 105SEC EDGAROther events
- 106SEC EDGARRegulation FD disclosure
- 107SEC EDGARRegulation FD disclosure
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- 110SEC EDGARRegulation FD disclosure
- 111SEC EDGARShareholder vote
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