REGULATORY CAPITAL REQUIREMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations

The Company’s and the Bank’s actual capital amounts and ratios as of December 31, 2023 and 2022 are also presented in the table that follows:


	Actual				For Capital Adequacy Purposes					To Be Well Capitalized Under Prompt Corrective Action Provisions
	Amount		Ratio		Amount			Ratio		Amount			Ratio
	December 31, 2023
	(Dollars in thousands)
Independent Bank Corp.
Total capital (to risk weighted assets)	$	2,268,863	15.91	%	$	1,140,554	≥	8.0	%	N/A			N/A
Common equity tier 1 capital (to risk weighted assets)	$	2,022,873	14.19	%	$	641,562	≥	4.5	%	N/A			N/A
Tier 1 capital (to risk weighted assets)	$	2,022,873	14.19	%	$	855,416	≥	6.0	%	N/A			N/A
Tier 1 capital (to average assets) leverage	$	2,022,873	10.96	%	$	737,984	≥	4.0	%	N/A			N/A
Rockland Trust Company
Total capital (to risk weighted assets)	$	2,183,436	15.32	%	$	1,140,550	≥	8.0	%	$	1,425,687	≥	10.0	%
Common equity tier 1 capital (to risk weighted assets)	$	2,048,426	14.37	%	$	641,559	≥	4.5	%	$	926,696	≥	6.5	%
Tier 1 capital (to risk weighted assets)	$	2,048,426	14.37	%	$	855,412	≥	6.0	%	$	1,140,550	≥	8.0	%
Tier 1 capital (to average assets) leverage	$	2,048,426	11.10	%	$	738,055	≥	4.0	%	$	922,568	≥	5.0	%
	December 31, 2022
	(Dollars in thousands)
Independent Bank Corp.
Total capital (to risk weighted assets)	$	2,311,824	16.11	%	$	1,148,328	≥	8.0	%	N/A			N/A
Common equity tier 1 capital (to risk weighted assets)	$	2,057,099	14.33	%	$	645,935	≥	4.5	%	N/A			N/A
Tier 1 capital (to risk weighted assets)	$	2,057,099	14.33	%	$	861,246	≥	6.0	%	N/A			N/A
Tier 1 capital (to average assets)	$	2,057,099	10.99	%	$	748,775	≥	4.0	%	N/A			N/A
Rockland Trust Company
Total capital (to risk weighted assets)	$	2,162,752	15.07	%	$	1,148,329	≥	8.0	%	$	1,435,411	≥	10.0	%
Common equity tier 1 capital (to risk weighted assets)	$	2,018,912	14.07	%	$	645,935	≥	4.5	%	$	933,017	≥	6.5	%
Tier 1 capital (to risk weighted assets)	$	2,018,912	14.07	%	$	861,247	≥	6.0	%	$	1,148,329	≥	8.0	%
Tier 1 capital (to average assets)	$	2,018,912	10.78	%	$	748,828	≥	4.0	%	$	936,036	≥	5.0	%