Independent Bank Corp. · NASDAQ:INDB
Independent Bank — KBW 2007 Regional Banking Conference
23 slides from Independent Bank's conference presentation, Feb 28, 2007
Slide 1: Investor Presentation KBW 2007 Regional Banking Conference
Investor Presentation KBW 2007 Regional Banking Conference February 28, 2007 "People Do Business with People" (r) "People Do Business with People" (r)
Slide 2: Company Profile
Single Bank Holding Company - Rockland Trust Company Largest publicly held commercial bank headquartered in Massachusetts Banking assets of $2.8 billion at December 31, 2006 Listed on NASDAQ, market capitalization of $484 million Fifty full service branches, nine commercial banking centers, five mor
Slide 3: Stock Profile
NASDAQ Symbol: INDB Recent Price (2/15/07): $33.00 Market Cap:* $484 million Shares Outstanding:* 14.7 million Avg. Daily Volume: 46k Forward P/E:** 15.7 Price/Book (mrq): 2.11 Stock Profile * Shares outstanding as of 12/31/2006 ** 2007 Consensus Estimate
Slide 4: Strong Regional Community Bank
Strong Regional Community Bank Established Regional Brand in an attractive Growth Market with Increasingly Unique Market Position Consistent Long-term Profitability and Shareholder Return Superb Asset Quality and Significant Reserve Coverage Strong Net Interest Margin Disciplined Balance Sheet and C
Slide 5: Growth Market Infrastructure
Growth Market Infrastructure Rail Lines Existing Under Construction Proposed Highway Rt. 44 Expansion
Slide 6: Attractive Demographics
Attractive Demographics US 51546 MA 63971 Plymouth County 69961 Barnstable County 59190 US 0.0666 MA 0.0217 Plymouth County 0.0416 Barnstable County 0.0376 Source: SNL Financial Source: SNL Financial
Slide 7: Current Environment
Current Environment Inverted Treasury Yield Curve Housing Market Slowdown Aggressive Deposit Competition
Slide 8: New Business Generation
New Business Generation Total Home Equity Loans and Lines New Business ($ in millions) Total Commercial Loans New Business ($ in millions) Investment Management New Business ($ in millions)
Slide 9: New Business Generation (Cont'd)
New Business Generation (Cont'd) Mortgage New Business ($ in millions) Consumer - Indirect Auto New Business ($ in millions)
Slide 10: Deposit Market Share
Deposit Market Share Source: SNL Financial; Deposit/Market Share data as of June 30, 2006 including pending transactions. (Includes Credit Unions)
Slide 11: Net Interest Margin (FTE)
Net Interest Margin (FTE) *Includes impact of FIN 46 prospectively. Impact of approx. 0.13% for 2004 and 0.16% for 2005. **Excludes write off of unamortized Trust preferred issuance costs.
Slide 12: Interest Rate Risk
INDEPENDENT _BANK Corr. Interest Rate Risk 6.00% Fed Funds vs. NIM (FTE) _ 5.00% 4.00% Fea Funds 3.00% |—naa ere) 2.00% 1.00% 0.00% + Q1 Q2 Q3 Q4 Q1 Q2 93 O4 Q1 92 93 O4 ‘O04 ‘04 ‘04 ‘04 ‘OS ‘OS ‘05 ‘05 ‘06 ‘06 ‘06 ‘06 Net Interest Income Sensitivity (Ramped) as of 12/31/06 First 12 Months Parallel
Slide 13: Earning Asset Profile 2001 2006
Earning Asset Profile 2001 2006
Slide 14: Commercial Real Estate Diversification
Commercial Real Estate Diversification
Slide 15: Strong Core Funding 2001 2006
Strong Core Funding 2001 2006
Slide 16: Balance Sheet Restructure
INDEPENDENT _BANK Corr. Balance Sheet Restructure 2004 - 2006 $ Millions % Change Investments (300.9) (37%) Consumer Automobile (77.2) (27%) Residential Real Estate (48.3) (11%) FHLB Borrowings (232.8) (43%) 17
Slide 17: Strong Asset Quality
Strong Asset Quality Delinquency/Loans ($ in thousands) Reserve/Loans ($ in millions) NPA's/Assets ($ in thousands)
Slide 18: Financial Performance Ratios
Financial Performance Ratios Return On Average Assets Return On Average Equity
Slide 19: Financial Performance Ratios: Diluted Earnings Per Share
Financial Performance Ratios Diluted Earnings Per Share ($'s) 5 Year CAGR 8.45% Operating Basis Diluted Earnings Per Share ($'s) 5 Year CAGR 7.24% GAAP Basis
Slide 20: Capital Management
Capital Management Completed 800,000 share repurchase Q3 2006 Announced additional share repurchase program of 1,000,000 shares (7%) December 2006
Slide 21: 2006 Financial Metrics
2006 Financial Metrics *Estimates **Excludes write off of unamortized Trust preferred issuance costs.
Slide 22: INDB Stock Performance
INDEPENDENT BANK Corp INDB Stock Performance 4, 100.00% Holding Period Ending 12/31/06 350.00% 334% 300,00% 250.00% 237% 200.00% 150.00% 24% 100.00% 83% 80% 50.00% + 29% 33% 35% 35% — | 0.00% (iia, 10 Yr 3Yr 5 Yr WINDB = BNASDAQBankIndex S&P 500 Index 24
Slide 23: Forward-looking statements and contact
Statements contained in this presentation that are not historical facts are "forward- looking statements" that are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited
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