XML 42 R23.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Securities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2017
Gain (Loss) on Investments [Line Items] |
Reconciliation of fair value of securities | The following table presents a summary of the amortized cost, gross unrealized gains and losses and fair value of securities available for sale and securities held to maturity for the periods indicated:
| March 31, 2017 |  | December 31, 2016
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
| (Dollars in thousands)
Available for sale securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency securities | $ | 24,007 |  |  | $ | 262 |  |  | $ | — |  |  | $ | 24,269 |  |  | $ | 24,006 |  |  | $ | 238 |  |  | $ | — |  |  | $ | 24,244 |
Agency mortgage-backed securities | 186,103 |  |  | 2,729 |  |  | (498 | ) |  | 188,334 |  |  | 173,268 |  |  | 2,852 |  |  | (736 | ) |  | 175,384 |
Agency collateralized mortgage obligations | 126,017 |  |  | 182 |  |  | (1,331 | ) |  | 124,868 |  |  | 101,094 |  |  | 106 |  |  | (1,332 | ) |  | 99,868 |
State, county, and municipal securities | 3,733 |  |  | 54 |  |  | — |  |  | 3,787 |  |  | 3,743 |  |  | 50 |  |  | — |  |  | 3,793 |
Single issuer trust preferred securities issued by banks | 2,298 |  |  | 22 |  |  | — |  |  | 2,320 |  |  | 2,311 |  |  | 3 |  |  | (3 | ) |  | 2,311 |
Pooled trust preferred securities issued by banks and insurers | 2,201 |  |  | — |  |  | (605 | ) |  | 1,596 |  |  | 2,200 |  |  | — |  |  | (616 | ) |  | 1,584 |
Small business administration pooled securities | 37,140 |  |  | 28 |  |  | (166 | ) |  | 37,002 |  |  | 37,561 |  |  | — |  |  | (372 | ) |  | 37,189 |
Equity securities | 19,166 |  |  | 964 |  |  | (469 | ) |  | 19,661 |  |  | 19,183 |  |  | 641 |  |  | (553 | ) |  | 19,271 |
Total available for sale securities | $ | 400,665 |  |  | $ | 4,241 |  |  | $ | (3,069 | ) |  | $ | 401,837 |  |  | $ | 363,366 |  |  | $ | 3,890 |  |  | $ | (3,612 | ) |  | $ | 363,644 |
Held to maturity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | $ | 1,007 |  |  | $ | 45 |  |  | $ | — |  |  | $ | 1,052 |  |  | $ | 1,007 |  |  | $ | 47 |  |  | $ | — |  |  | $ | 1,054 |
Agency mortgage-backed securities | 184,317 |  |  | 2,283 |  |  | (1,024 | ) |  | 185,576 |  |  | 156,088 |  |  | 2,274 |  |  | (858 | ) |  | 157,504 |
Agency collateralized mortgage obligations | 284,716 |  |  | 1,065 |  |  | (3,657 | ) |  | 282,124 |  |  | 297,445 |  |  | 1,002 |  |  | (3,797 | ) |  | 294,650 |
Single issuer trust preferred securities issued by banks | 1,500 |  |  | 38 |  |  | — |  |  | 1,538 |  |  | 1,500 |  |  | 44 |  |  | — |  |  | 1,544 |
Small business administration pooled securities | 30,583 |  |  | 228 |  |  | (184 | ) |  | 30,627 |  |  | 31,036 |  |  | 189 |  |  | (327 | ) |  | 30,898 |
Total held to maturity securities | $ | 502,123 |  |  | $ | 3,659 |  |  | $ | (4,865 | ) |  | $ | 500,917 |  |  | $ | 487,076 |  |  | $ | 3,556 |  |  | $ | (4,982 | ) |  | $ | 485,650 |
Total | $ | 902,788 |  |  | $ | 7,900 |  |  | $ | (7,934 | ) |  | $ | 902,754 |  |  | $ | 850,442 |  |  | $ | 7,446 |  |  | $ | (8,594 | ) |  | $ | 849,294 |
Schedule of contractual maturities of securities | A schedule of the contractual maturities of securities available for sale and securities held to maturity as of March 31, 2017 is presented below:
| Available for Sale |  | Held to Maturity
| Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
| (Dollars in thousands)
Due in one year or less | $ | 1,232 |  |  | $ | 1,239 |  |  | $ | — |  |  | $ | — |
Due after one year to five years | 38,912 |  |  | 39,410 |  |  | 15,915 |  |  | 16,092 |
Due after five to ten years | 87,856 |  |  | 88,207 |  |  | 21,090 |  |  | 21,643 |
Due after ten years | 253,499 |  |  | 253,320 |  |  | 465,118 |  |  | 463,182 |
Total debt securities | $ | 381,499 |  |  | $ | 382,176 |  |  | $ | 502,123 |  |  | $ | 500,917 |
Equity securities | $ | 19,166 |  |  | $ | 19,661 |  |  | $ | — |  |  | $ | — |
Total | $ | 400,665 |  |  | $ | 401,837 |  |  | $ | 502,123 |  |  | $ | 500,917 |
Schedule of gross unrealized losses and fair value of investments | The following tables show the gross unrealized losses and fair value of the Company’s investments in an unrealized loss position, which the Company has not deemed to be OTTI, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:
| March 31, 2017
|  |  | Less than 12 months |  | 12 months or longer |  | Total
| # of holdings |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
| (Dollars in thousands)
Agency mortgage-backed securities | 42 |  |  | $ | 145,227 |  |  | $ | (1,522 | ) |  | $ | — |  |  | $ | — |  |  | $ | 145,227 |  |  | $ | (1,522 | )
Agency collateralized mortgage obligations | 33 |  |  | 247,688 |  |  | (3,003 | ) |  | 45,458 |  |  | (1,985 | ) |  | 293,146 |  |  | (4,988 | )
Pooled trust preferred securities issued by banks and insurers | 1 |  |  | — |  |  | — |  |  | 1,596 |  |  | (605 | ) |  | 1,596 |  |  | (605 | )
Small business administration pooled securities | 4 |  |  | 46,217 |  |  | (350 | ) |  | — |  |  | — |  |  | 46,217 |  |  | (350 | )
Equity securities | 22 |  |  | 1,706 |  |  | (53 | ) |  | 5,928 |  |  | (416 | ) |  | 7,634 |  |  | (469 | )
Total temporarily impaired securities | 102 |  |  | $ | 440,838 |  |  | $ | (4,928 | ) |  | $ | 52,982 |  |  | $ | (3,006 | ) |  | $ | 493,820 |  |  | $ | (7,934 | )
| December 31, 2016
|  |  | Less than 12 months |  | 12 months or longer |  | Total
| # of holdings |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
| (Dollars in thousands)
Agency mortgage-backed securities | 57 |  |  | $ | 137,949 |  |  | $ | (1,594 | ) |  | $ | — |  |  | $ | — |  |  | $ | 137,949 |  |  | $ | (1,594 | )
Agency collateralized mortgage obligations | 32 |  |  | 243,051 |  |  | (3,140 | ) |  | 47,403 |  |  | (1,989 | ) |  | 290,454 |  |  | (5,129 | )
Single issuer trust preferred securities issued by banks and insurers | 1 |  |  | — |  |  | — |  |  | 1,036 |  |  | (3 | ) |  | 1,036 |  |  | (3 | )
Pooled trust preferred securities issued by banks and insurers | 1 |  |  | — |  |  | — |  |  | 1,583 |  |  | (616 | ) |  | 1,583 |  |  | (616 | )
Small business administration pooled securities | 5 |  |  | 59,846 |  |  | (699 | ) |  | — |  |  | — |  |  | 59,846 |  |  | (699 | )
Equity securities | 25 |  |  | 3,625 |  |  | (77 | ) |  | 6,334 |  |  | (476 | ) |  | 9,959 |  |  | (553 | )
Total temporarily impaired securities | 121 |  |  | $ | 444,471 |  |  | $ | (5,510 | ) |  | $ | 56,356 |  |  | $ | (3,084 | ) |  | $ | 500,827 |  |  | $ | (8,594 | )

X
- Definition Tabular disclosure of available for sale securities and held to maturity securities reconciliation. + References No definition available. + Details
Name: | indb_ScheduleOfAvailableForSaleSecuritiesAndHeldToMaturitySecuritiesReconciliationTableTextBlock
Namespace Prefix: | indb_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_ScheduleOfGainLossOnInvestmentsIncludingMarketableSecuritiesAndInvestmentsHeldAtCostIncomeStatementReportedAmountsSummaryLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investments in an unrealized loss position for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), including: (a) the aggregate related fair value of investments with unrealized losses, (b) the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfTemporaryImpairmentLossesInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration