Independent Bank Corp. · NASDAQ:INDB
Independent Bank — Investor Meeting hosted by Raymond James (June 2023)
8 slides from Independent Bank's conference presentation, Jun 12, 2023
Slide 1: Investor Meeting Materials Hosted by Raymond James
Exhibit 99.1 Investor Meeting Materials Hosted by Raymond James June 12, 2023
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations and business of the Company. These statements may be identified by such
Slide 3: Deposits
3 Deposits Period Ended Household Count 5/31/2023 3/31/2023 # Increase % Increase Total Households 326,427 324,470 1,957 0.6% ($ in millions) Period Ended $ Increase (Decrease) % Increase (Decrease)Deposit Product Type 5/31/2023 3/31/2023 Noninterest-bearing demand deposits $4,856 $5,084 $(228) (4.5
Slide 4: Uninsured Deposits
4 Uninsured Deposits ($ in millions) Period Ended 5/31/2023 3/31/2023 $ Amount % of Deposits $ Amount % of Deposits Rockland Trust Bank deposits* $15,500 $15,570 Deposits > $250,000 $6,777 43.7% $6,913 44.4% Estimated > $250,000 insured (2,187) (2,230) Estimated uninsured before collateralized depos
Slide 5: Liquidity & Capital
5 Liquidity & Capital ($ in millions) Additional Borrowing Capacity Period Ended Off Balance Sheet Liquidity 5/31/2023 3/31/2023 Federal Home Loan Bank ("FHLB")* $1,440 $914 Federal Reserve 2,944 3,038 Unpledged securities* 1,227 2,137 Lines of credit 85 85 Total borrowing capacity $5,696 $6,174 Bor
Slide 6: Loans
6 Loans ($ in millions) Period Ended $ Increase % Increase Loan Category 5/31/2023 3/31/2023 (Decrease) (Decrease) Commercial and industrial $1,713 $1,650 $63 3.8% Commercial real estate 7,778 7,820 (42) (0.5)% Commercial construction 1,052 1,046 6 0.6% Small business 232 226 6 2.7% Total commercial
Slide 7: Focal Point: Non-Owner Occupied CRE Office
7 95% ($ in millions) Period End 5/31/2023 3/31/2023 Total CRE Office $1,672 $1,662 Less: Owner Occupied CRE Office 219 218 Non-Owner Occupied CRE Office ("NOO Office")* $1,453 $1,444 NOO Office 5/31/2023 % of Total Loans Avg. Loan Size ($ in millions) Class A $500 3.6% $10.5 Class B/C 454 3.2% 6.6
Slide 8: Q2 2023 Forward Guidance
8 Q2 2023 Forward Guidance Previous Guidance - 4/20/2023 Updated Guidance - 6/12/2023 Loans Flat overall loan balances Q2 2023: flat to up slightly H2 2023: flat overall loan balances Deposits Deposit pricing remains elevated Composition: continued migration from noninterest-bearing to interest-bear
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