Independent Bank (INDB) Operating Expenses (2009 - 2026)
Independent Bank (INDB) recorded Operating Expenses of $138.42 million in Q3 2026, down 13.9% from $160.84 million a year earlier and down 1.3% from the prior quarter.
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Analysis
Independent Bank (INDB) Operating Expenses (2009 - 2026) Analysis & Trends
On a TTM basis, Independent Bank's Operating Expenses came in at $575.98 million as of Sep 30, 2026, up 19.5% year-over-year; for FY2025, it came in at $529.88 million, up 30.4% from FY2024.
- Annual Operating Expenses has increased for five straight years, with a five-year compound annual growth rate of 14.1% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $406.37 million in FY2024 (+3.5%), $392.75 million in FY2023 (+5.1%), $373.66 million in FY2022 (+12.4%) and $332.53 million in FY2021 (+21.4%).
- The Q3 2026 figure is the lowest quarterly Operating Expenses since Q2 2025.
- On a year-over-year basis, Operating Expenses rose in seven of the last eight quarters, with growth averaging 22.0%.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 60.1% in Q3 2025, against a decline of 19.0% in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at $140.27 million (Q2 2026), $142.92 million (Q1 2026) and $154.37 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Jpmorgan Chase | 909.02 Bn | 886.77 Bn | - | 27.30 Bn |
| 2 | Banco Santander Chile | 406.67 Bn | -7,110.43 Bn | - | - |
| 3 | Bank Of America | 350.91 Bn | -2,025.20 Bn | - | 19.72 Bn |
| 4 | Hsbc Holdings | 308.71 Bn | -2,966.46 Bn | - | 8.82 Bn |
| 5 | Morgan Stanley | 293.66 Bn | -249.15 Bn | - | 13.71 Bn |
| 6 | Royal Bank Of Canada | 283.56 Bn | -546.44 Bn | - | 7.02 Bn |
| 7 | Goldman Sachs | 262.71 Bn | -3,480.74 Bn | - | 11.31 Bn |
| 8 | Wells Fargo & Company | 257.44 Bn | 92.87 Bn | - | 13.74 Bn |
| 9 | Mitsubishi Ufj Financial | 256.82 Bn | -75.42 Bn | 10.89 Bn | 17.50 Bn |
| 10 | Independent Bank | 3.98 Bn | 3.90 Bn | - | 138.42 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 138.42 Mn |
| Jun 30, 2026 | 140.27 Mn |
| Mar 31, 2026 | 142.92 Mn |
| Dec 31, 2025 | 154.37 Mn |
| Sep 30, 2025 | 160.84 Mn |
| Jun 30, 2025 | 108.80 Mn |
| Mar 31, 2025 | 105.88 Mn |
| Dec 31, 2024 | 106.42 Mn |
| Sep 30, 2024 | 100.44 Mn |
| Jun 30, 2024 | 99.61 Mn |
| Mar 31, 2024 | 99.89 Mn |
| Dec 31, 2023 | 100.75 Mn |
| Sep 30, 2023 | 97.78 Mn |
| Jun 30, 2023 | 95.56 Mn |
| Mar 31, 2023 | 98.66 Mn |
| Dec 31, 2022 | 94.87 Mn |
| Sep 30, 2022 | 92.73 Mn |
| Jun 30, 2022 | 90.56 Mn |
| Mar 31, 2022 | 95.50 Mn |
| Dec 31, 2021 | 117.13 Mn |
API Access
Independent Bank Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=INDB&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "INDB", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=INDB&period=max&api_key=YOUR_API_KEY");
const data = await res.json();