INDB FINANCIAL STATEMENTS

Independent Bank — balance sheet, income statement and cash flow trends

INDBIndependent Bank

🇺🇸 USA · NASDAQ · Financial Services · Banks - Regional

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue1.2 B $+23.8%

Gross Profit844.2 M $+30.3%

Operating Income279.3 M $+15.5%

EBITDA311.3 M $+10.1%

Net Income240.6 M $+27.5%

Peer Comparison· Banks - Regional

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
INDB	—	—	—	19.8%
BEN	—	—	—	—
EQB	—	—	—	6.6%
NDA-SE	—	—	—	20.9%
BOQ	—	—	—	2.0%
BFL	—	—	—	30.2%
Industry median	—	67.2%	20.4%	20.6%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity3.5 B $14%
Current Liabilities20.2 B $81%
Long-term Liabilities1 B $4%

Key Figures

YoY change

Total Assets24.8 B $+24.6%

Total Liabilities21.2 B $+26.0%

Total Equity3.5 B $+16.8%

Cash & ST Investments1.2 B $-37.6%

Total Debt776.3 M $-9.7%

Net Debt47.3 M $-66.9%

Peer Comparison· Banks - Regional

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
INDB	0.06	21.9%	-1.52	14.3%
BEN	0.03	142.6%	—	6.6%
EQB	0.09	496.5%	40.36	6.2%
NDA-SE	0.16	704.0%	25.50	4.4%
BOQ	0.05	258.4%	49.89	6.0%
BFL	33.68	9.1%	-3.30	12.0%
Industry median	0.31	38.0%	-0.58	11.0%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
INDB	0.06	21.9%	-1.52	14.3%
FBP	6.85	14.7%	-0.58	10.3%
WSFS	—	11.4%	-4.82	12.3%
CATY	0.01	5.2%	0.04	12.4%
RNST	3.98	20.8%	-1.40	14.3%
CADE	0.07	35.1%	—	11.7%
Industry median	0.31	38.0%	-0.58	11.0%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow355 M $+84.8%

Capital Expenditures19.5 M $+8.2%

Free Cash Flow348.1 M $+99.9%

Dividends Paid-108.7 M $-212.3%

Peer Comparison· Banks - Regional

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
INDB	29.2%	28.6%	1.6%	147.6%
BEN	—	—	—	—
EQB	-2.9%	-7.6%	3.1%	-44.2%
NDA-SE	-33.4%	-35.4%	2.0%	-159.7%
BOQ	13.1%	13.0%	0.2%	668.4%
BFL	116.9%	27.7%	2.8%	386.6%
Industry median	23.6%	22.1%	1.5%	111.4%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
INDB	29.2%	28.6%	1.6%	147.6%
FBP	36.7%	35.6%	1.2%	128.3%
WSFS	21.9%	21.5%	0.4%	96.5%
CATY	26.7%	25.9%	0.8%	110.7%
RNST	18.0%	14.5%	3.5%	116.4%
CADE	18.1%	16.2%	1.9%	96.7%
Industry median	23.6%	22.1%	1.5%	111.4%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.