XML 103 R26.htm IDEA: XBRL DOCUMENT
v3.20.1

Securities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract] |
Schedule of Equity securities gains and losses [Table Text Block] | The following table represents a summary of the gains and losses that relate to equity securities for the periods indicated:
| Three Months Ended
| March 31
| 2020 |  | 2019
Net gains (losses) recognized during the period on equity securities | $ | (1,801 | ) |  | $ | 907 |
Less: net gains recognized during the period on equity securities sold during the period | 6 |  |  | 3 |
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date | $ | (1,807 | ) |  | $ | 904 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | These available for sale securities are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position:
| March 31, 2020
|  |  | 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 | 1 |  |  | 86 |  |  | (1 | ) |  | — |  |  | — |  |  | 86 |  |  | (1 | )
Single issuer trust preferred securities issued by banks and insurers | 1 |  |  | 436 |  |  | (53 | ) |  | — |  |  | — |  |  | 436 |  |  | (53 | )
Pooled trust preferred securities issued by banks and insurers | 1 |  |  | — |  |  | — |  |  | 1,009 |  |  | (434 | ) |  | 1,009 |  |  | (434 | )
Total temporarily impaired available for sale securities | 3 |  |  | $ | 522 |  |  | $ | (54 | ) |  | $ | 1,009 |  |  | $ | (434 | ) |  | $ | 1,531 |  |  | $ | (488 | )
Debt Securities, Held-to-maturity [Table Text Block] | The following table summarizes the amortized cost, fair value and allowance for credit losses of held to maturity securities and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income(loss) as of the dates indicated:
| March 31, 2020 |  | December 31, 2019
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for credit losses |  | Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
| (Dollars in thousands)
U.S. government agency securities | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 12,874 |  |  | $ | 123 |  |  | $ | — |  |  | $ | 12,997 |
U.S. Treasury securities | 4,029 |  |  | 110 |  |  | — |  |  | — |  |  | 4,139 |  |  | 4,032 |  |  | 21 |  |  | — |  |  | 4,053 |
Agency mortgage-backed securities | 463,632 |  |  | 18,864 |  |  | (133 | ) |  | — |  |  | 482,363 |  |  | 397,414 |  |  | 8,445 |  |  | (57 | ) |  | 405,802 |
Agency collateralized mortgage obligations | 277,921 |  |  | 11,981 |  |  | — |  |  | — |  |  | 289,902 |  |  | 293,662 |  |  | 4,501 |  |  | (849 | ) |  | 297,314 |
Single issuer trust preferred securities issued by banks | 1,500 |  |  | — |  |  | (10 | ) |  | — |  |  | 1,490 |  |  | 1,500 |  |  | — |  |  | (10 | ) |  | 1,490 |
Small business administration pooled securities | 30,716 |  |  | 745 |  |  | — |  |  | — |  |  | 31,461 |  |  | 31,324 |  |  | 338 |  |  | (55 | ) |  | 31,607 |
Total held to maturity securities | $ | 777,798 |  |  | $ | 31,700 |  |  | $ | (143 | ) |  | $ | — |  |  | $ | 809,355 |  |  | $ | 740,806 |  |  | $ | 13,428 |  |  | $ | (971 | ) |  | $ | 753,263 |
Debt Securities, Held-to-maturity, Credit Quality Indicator [Table Text Block] | s of March 31, 2020, all held to maturity securities held by the Company were rated investment grade or higher.
Schedule of contractual maturities of securities [Table Text Block] | A schedule of the contractual maturities of available for sale and held to maturity securities as of March 31, 2020 is presented below:
| Due in one year or less |  | Due after one year to five years |  | Due after five to ten years |  | Due after ten years |  | Total
| Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
| (Dollars in thousands)
Available for sale securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency securities | $ | — |  |  | $ | — |  |  | $ | 10,002 |  |  | $ | 10,351 |  |  | $ | 12,472 |  |  | $ | 13,941 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,474 |  |  | $ | 24,292 |
Agency mortgage-backed securities | — |  |  | — |  |  | 72,092 |  |  | 75,268 |  |  | 41,885 |  |  | 44,607 |  |  | 133,698 |  |  | 138,909 |  |  | 247,675 |  |  | 258,784 |
Agency collateralized mortgage obligations | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 83,183 |  |  | 87,210 |  |  | 83,183 |  |  | 87,210 |
State, county, and municipal securities | 250 |  |  | 250 |  |  | 687 |  |  | 691 |  |  | 189 |  |  | 203 |  |  | — |  |  | — |  |  | 1,126 |  |  | 1,144 |
Single issuer trust preferred securities issued by banks | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 489 |  |  | 436 |  |  | 489 |  |  | 436 |
Pooled trust preferred securities issued by banks and insurers | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,443 |  |  | 1,009 |  |  | 1,443 |  |  | 1,009 |
Small business administration pooled securities | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 63,062 |  |  | 64,421 |  |  | 63,062 |  |  | 64,421 |
Total available for sale securities | $ | 250 |  |  | $ | 250 |  |  | $ | 82,781 |  |  | $ | 86,310 |  |  | $ | 54,546 |  |  | $ | 58,751 |  |  | $ | 281,875 |  |  | $ | 291,985 |  |  | $ | 419,452 |  |  | $ | 437,296 |
Held to maturity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | $ | — |  |  | $ | — |  |  | $ | 4,029 |  |  | $ | 4,139 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,029 |  |  | $ | 4,139 |
Agency mortgage-backed securities | 8,619 |  |  | 8,715 |  |  | 1,902 |  |  | 1,951 |  |  | 48,123 |  |  | 50,345 |  |  | 404,988 |  |  | 421,352 |  |  | 463,632 |  |  | 482,363 |
Agency collateralized mortgage obligations | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 277,921 |  |  | 289,902 |  |  | 277,921 |  |  | 289,902 |
Single issuer trust preferred securities issued by banks | — |  |  | — |  |  | — |  |  | — |  |  | 1,500 |  |  | 1,490 |  |  | — |  |  | — |  |  | 1,500 |  |  | 1,490 |
Small business administration pooled securities | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 30,716 |  |  | 31,461 |  |  | 30,716 |  |  | 31,461 |
Total held to maturity securities | $ | 8,619 |  |  | $ | 8,715 |  |  | $ | 5,931 |  |  | $ | 6,090 |  |  | $ | 49,623 |  |  | $ | 51,835 |  |  | $ | 713,625 |  |  | $ | 742,715 |  |  | $ | 777,798 |  |  | $ | 809,355 |
Total | $ | 8,869 |  |  | $ | 8,965 |  |  | $ | 88,712 |  |  | $ | 92,400 |  |  | $ | 104,169 |  |  | $ | 110,586 |  |  | $ | 995,500 |  |  | $ | 1,034,700 |  |  | $ | 1,197,250 |  |  | $ | 1,246,651 |
Schedule of gross unrealized losses and fair value of investments [Table Text Block] | The following table shows the gross unrealized losses and fair value of the Company’s investments in an unrealized loss position, which the Company had not deemed to be OTTI, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2019:
| December 31, 2019
|  |  | 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 | 12 |  |  | 34,009 |  |  | (59 | ) |  | 243 |  |  | (2 | ) |  | 34,252 |  |  | (61 | )
Agency collateralized mortgage obligations | 17 |  |  | 48,476 |  |  | (215 | ) |  | 37,382 |  |  | (653 | ) |  | 85,858 |  |  | (868 | )
Single issuer trust preferred securities issued by banks and insurers | 1 |  |  | — |  |  | — |  |  | 1,490 |  |  | (10 | ) |  | 1,490 |  |  | (10 | )
Pooled trust preferred securities issued by banks and insurers | 1 |  |  | — |  |  | — |  |  | 1,114 |  |  | (374 | ) |  | 1,114 |  |  | (374 | )
Small business administration pooled securities | 1 |  |  | 7,349 |  |  | (55 | ) |  | — |  |  | — |  |  | 7,349 |  |  | (55 | )
Total temporarily impaired securities | 32 |  |  | $ | 89,834 |  |  | $ | (329 | ) |  | $ | 40,229 |  |  | $ | (1,039 | ) |  | $ | 130,063 |  |  | $ | (1,368 | )
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | The following table summarizes the amortized cost, allowance for credit losses, and fair value of available for sale securities and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income(loss) as of the dates indicated:
| March 31, 2020 |  | December 31, 2019
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for credit losses |  | Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
| (Dollars in thousands)
U.S. government agency securities | $ | 22,474 |  |  | $ | 1,818 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,292 |  |  | $ | 32,473 |  |  | $ | 642 |  |  | $ | — |  |  | $ | 33,115 |
Agency mortgage-backed securities | 247,675 |  |  | 11,110 |  |  | (1 | ) |  | — |  |  | 258,784 |  |  | 243,548 |  |  | 3,456 |  |  | (4 | ) |  | 247,000 |
Agency collateralized mortgage obligations | 83,183 |  |  | 4,027 |  |  | — |  |  | — |  |  | 87,210 |  |  | 87,305 |  |  | 1,225 |  |  | (19 | ) |  | 88,511 |
State, county, and municipal securities | 1,126 |  |  | 18 |  |  | — |  |  | — |  |  | 1,144 |  |  | 1,377 |  |  | 19 |  |  | — |  |  | 1,396 |
Single issuer trust preferred securities issued by banks | 489 |  |  | — |  |  | (53 | ) |  | — |  |  | 436 |  |  | 488 |  |  | 5 |  |  | — |  |  | 493 |
Pooled trust preferred securities issued by banks and insurers | 1,443 |  |  | — |  |  | (434 | ) |  | — |  |  | 1,009 |  |  | 1,488 |  |  | — |  |  | (374 | ) |  | 1,114 |
Small business administration pooled securities | 63,062 |  |  | 1,359 |  |  | — |  |  | — |  |  | 64,421 |  |  | 54,024 |  |  | 771 |  |  | — |  |  | 54,795 |
Total available for sale securities | $ | 419,452 |  |  | $ | 18,332 |  |  | $ | (488 | ) |  | $ | — |  |  | $ | 437,296 |  |  | $ | 420,703 |  |  | $ | 6,118 |  |  | $ | (397 | ) |  | $ | 426,424 |

X
- Definition Schedule of Equity securities gains and losses [Table Text Block] + References No definition available. + Details
Name: | indb_ScheduleofEquitysecuritiesgainsandlossesTableTextBlock
Namespace Prefix: | indb_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities. + References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of credit quality indicator for investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 + Details
Name: | us-gaap_DebtSecuritiesHeldToMaturityCreditQualityIndicatorTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563 + Details
Name: | us-gaap_HeldToMaturitySecuritiesTextBlock
Namespace Prefix: | us-gaap_
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
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfTemporaryImpairmentLossesInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration