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REGULATORY CAPITAL REQUIREMENTS | 12 Months Ended
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Dec. 31, 2018
Banking and Thrift [Abstract] |
REGULATORY CAPITAL REQUIREMENTS | REGULATORY MATTERS Regulatory Capital Requirements The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the Company’s and the Bank’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. At December 31, 2018 the most recent notification from the Federal Deposit Insurance Corporation indicated that the Bank's capital levels met or exceeded the minimum levels to be considered "well capitalized" for bank regulatory purposes. To be categorized as well capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based, Common equity Tier 1 risk-based and Tier 1 leverage ratios as set forth in the following tables. There are no conditions or events since the notification that management believes have changed the Bank’s category. Management believes, as of December 31, 2018 and 2017, that the Company and the Bank met all capital adequacy requirements to which they are subject. The Company’s and the Bank’s actual capital amounts and ratios as of December 31, 2018 and 2017 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, 2018
| (Dollars in thousands)
Independent Bank Corp. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk weighted assets) | $ | 992,454 |  |  | 14.45 | % |  | $ | 549,297 |  |  | ≥ |  | 8.0 | % |  | N/A |  |  |  |  | N/A |
Common equity tier 1 capital (to risk weighted assets) | $ | 818,176 |  |  | 11.92 | % |  | $ | 308,980 |  |  | ≥ |  | 4.5 | % |  | N/A |  |  |  |  | N/A |
Tier 1 capital (to risk weighted assets) | $ | 892,176 |  |  | 12.99 | % |  | $ | 411,973 |  |  | ≥ |  | 6.0 | % |  | N/A |  |  |  |  | N/A |
Tier 1 capital (to average assets) | $ | 892,176 |  |  | 10.69 | % |  | $ | 333,754 |  |  | ≥ |  | 4.0 | % |  | N/A |  |  |  |  | N/A |
Rockland Trust Company |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk weighted assets) | $ | 937,574 |  |  | 13.66 | % |  | $ | 549,036 |  |  | ≥ |  | 8.0 | % |  | $ | 686,295 |  |  | ≥ |  | 10.0 | %
Common equity tier 1 capital (to risk weighted assets) | $ | 872,024 |  |  | 12.71 | % |  | $ | 308,833 |  |  | ≥ |  | 4.5 | % |  | $ | 446,092 |  |  | ≥ |  | 6.5 | %
Tier 1 capital (to risk weighted assets) | $ | 872,024 |  |  | 12.71 | % |  | $ | 411,777 |  |  | ≥ |  | 6.0 | % |  | $ | 549,036 |  |  | ≥ |  | 8.0 | %
Tier 1 capital (to average assets) | $ | 872,024 |  |  | 10.46 | % |  | $ | 333,595 |  |  | ≥ |  | 4.0 | % |  | $ | 416,994 |  |  | ≥ |  | 5.0 | %
| December 31, 2017
| (Dollars in thousands)
Independent Bank Corp. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk weighted assets) | $ | 886,807 |  |  | 13.82 | % |  | $ | 513,398 |  |  | ≥ |  | 8.0 | % |  | N/A |  |  |  |  | N/A |
Common equity tier 1 capital (to risk weighted assets) | $ | 718,995 |  |  | 11.20 | % |  | $ | 288,787 |  |  | ≥ |  | 4.5 | % |  | N/A |  |  |  |  | N/A |
Tier 1 capital (to risk weighted assets) | $ | 789,992 |  |  | 12.31 | % |  | $ | 385,049 |  |  | ≥ |  | 6.0 | % |  | N/A |  |  |  |  | N/A |
Tier 1 capital (to average assets) | $ | 789,992 |  |  | 10.04 | % |  | $ | 314,756 |  |  | ≥ |  | 4.0 | % |  | N/A |  |  |  |  | N/A |
Rockland Trust Company |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total capital (to risk weighted assets) | $ | 846,147 |  |  | 13.19 | % |  | $ | 513,175 |  |  | ≥ |  | 8.0 | % |  | $ | 641,469 |  |  | ≥ |  | 10.0 | %
Common equity tier 1 capital (to risk weighted assets) | $ | 784,014 |  |  | 12.22 | % |  | $ | 288,661 |  |  | ≥ |  | 4.5 | % |  | $ | 416,955 |  |  | ≥ |  | 6.5 | %
Tier 1 capital (to risk weighted assets) | $ | 784,014 |  |  | 12.22 | % |  | $ | 384,881 |  |  | ≥ |  | 6.0 | % |  | $ | 513,175 |  |  | ≥ |  | 8.0 | %
Tier 1 capital (to average assets) | $ | 784,014 |  |  | 9.97 | % |  | $ | 314,630 |  |  | ≥ |  | 4.0 | % |  | $ | 393,288 |  |  | ≥ |  | 5.0 | %
In addition to the minimum risk-based capital requirements outlined in the table above, the Company is required to maintain a minimum capital conservation buffer, in the form of common equity, in order to avoid restrictions on capital distributions and discretionary bonuses. The required amount of the capital conservation buffer is 2.5%. The Company's capital levels exceeded the minimum requirement plus the buffer of 2.5% as of December 31, 2018. Dividend Restrictions In the ordinary course of business, the Company is dependent upon dividends from the Bank to provide funds for the payment of dividends to shareholders and to provide for other cash requirements. Banking regulations may limit the amount of dividends that may be paid. Approval by regulatory authorities is required if the effect of dividends declared would cause the regulatory capital of the Bank to fall below specified minimum levels. Approval is also required if dividends declared exceed the net profits for that year combined with the retained net profits for the preceding two years. Under the foregoing dividend restrictions and while maintaining its "well capitalized" status, dividends paid by the Bank to the Company for the year ended December 31, 2018 and 2017 totaled $71.2 million and $46.9 million, respectively. Trust Preferred Securities In accordance with the applicable accounting standard related to variable interest entities, the common stock of trusts which have issued trust preferred securities have not been included in the consolidated financial statements. At December 31, 2018 and 2017, there was $74.0 million and $71.0 million, respectively, in trust preferred securities have been included in the Tier 1 capital of the Company for regulatory reporting purposes pursuant to the Federal Reserve's capital adequacy guidelines. Trust preferred securities of $3.0 million assumed in the MNB Bancorp acquisition were subsequently paid in full in January 2019.

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- Definition The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958572-112826 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958573-112826 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958570-112826 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958569-112826 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958577-112826 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958575-112826 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958574-112826 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84167132&loc=SL5958568-112826 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=84167132&loc=d3e65071-112826 + Details
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