XML 43 R23.htm IDEA: XBRL DOCUMENT
v3.21.2

Securities (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract] |
Schedule of Equity securities gains and losses [Table Text Block] |
| Three Months Ended |  | Six Months Ended
| June 30 |  | June 30
| 2021 |  | 2020 |  | 2021 |  | 2020
| Dollars in thousands
Net gains (losses) recognized during the period on equity securities | $ | 548 |  |  | $ | 1,386 |  |  | 864 |  |  | (415) |
Less: net gains recognized during the period on equity securities sold during the period | 112 |  |  | — |  |  | 141 |  |  | 6 |
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date | $ | 436 |  |  | $ | 1,386 |  |  | $ | 723 |  |  | $ | (421) |
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:
| June 30, 2021 |  | December 31, 2020
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for credit losses |  | Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for credit losses |  | Fair Value
| (Dollars in thousands)
Available for sale securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency securities | $ | 192,829 |  |  | $ | 2,080 |  |  | $ | (867) |  |  | $ | — |  |  | $ | 194,042 |  |  | $ | 22,476 |  |  | $ | 1,640 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,116 |
U.S. treasury securities | 132,247 |  |  | 136 |  |  | (32) |  |  | — |  |  | 132,351 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Agency mortgage-backed securities | 308,670 |  |  | 7,256 |  |  | (1,830) |  |  | — |  |  | 314,096 |  |  | 224,293 |  |  | 9,337 |  |  | (1) |  |  | — |  |  | 233,629 |
Agency collateralized mortgage obligations | 93,307 |  |  | 2,535 |  |  | (5) |  |  | — |  |  | 95,837 |  |  | 88,687 |  |  | 3,083 |  |  | (87) |  |  | — |  |  | 91,683 |
State, county, and municipal securities | 541 |  |  | 14 |  |  | — |  |  | — |  |  | 555 |  |  | 790 |  |  | 17 |  |  | — |  |  | — |  |  | 807 |
Single issuer trust preferred securities issued by banks | 489 |  |  | 1 |  |  | — |  |  | — |  |  | 490 |  |  | 489 |  |  | — |  |  | (1) |  |  | — |  |  | 488 |
Pooled trust preferred securities issued by banks and insurers | 1,409 |  |  | — |  |  | (348) |  |  | — |  |  | 1,061 |  |  | 1,429 |  |  | — |  |  | (373) |  |  | — |  |  | 1,056 |
Small business administration pooled securities | 52,869 |  |  | 3,215 |  |  | — |  |  | — |  |  | 56,084 |  |  | 57,289 |  |  | 3,792 |  |  | — |  |  | — |  |  | 61,081 |
Total available for sale securities | $ | 782,361 |  |  | $ | 15,237 |  |  | $ | (3,082) |  |  | $ | — |  |  | $ | 794,516 |  |  | $ | 395,453 |  |  | $ | 17,869 |  |  | $ | (462) |  |  | $ | — |  |  | $ | 412,860 |
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:
| June 30, 2021
|  |  | 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)
U.S. government agency securities | 4 |  |  | $ | 114,362 |  |  | $ | (867) |  |  | $ | — |  |  | $ | — |  |  | $ | 114,362 |  |  | $ | (867) |
U.S. treasury securities | 1 |  |  | 35,115 |  |  | (32) |  |  | — |  |  | — |  |  | 35,115 |  |  | (32) |
Agency mortgage-backed securities | 9 |  |  | 134,589 |  |  | (1,829) |  |  | 287 |  |  | (1) |  |  | 134,876 |  |  | (1,830) |
Agency collateralized mortgage obligations | 1 |  |  | 7,240 |  |  | (5) |  |  | — |  |  | — |  |  | 7,240 |  |  | (5) |
Pooled trust preferred securities issued by banks and insurers | 1 |  |  | — |  |  | — |  |  | 1,061 |  |  | (348) |  |  | 1,061 |  |  | (348) |
Total impaired available for sale securities | 16 |  |  | $ | 291,306 |  |  | $ | (2,733) |  |  | $ | 1,348 |  |  | $ | (349) |  |  | $ | 292,654 |  |  | $ | (3,082) |
| December 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 | 3 |  |  | $ | 437 |  |  | $ | (1) |  |  | $ | — |  |  | $ | — |  |  | $ | 437 |  |  | $ | (1) |
Agency collateralized mortgage obligations | 2 |  |  | 23,323 |  |  | (87) |  |  | — |  |  | — |  |  | 23,323 |  |  | (87) |
Single issuer trust preferred securities issued by banks and insurers | 1 |  |  | 488 |  |  | (1) |  |  | — |  |  | — |  |  | 488 |  |  | (1) |
Pooled trust preferred securities issued by banks and insurers | 1 |  |  | — |  |  | — |  |  | 1,056 |  |  | (373) |  |  | 1,056 |  |  | (373) |
Total impaired available for sale securities | 7 |  |  | $ | 24,248 |  |  | $ | (89) |  |  | $ | 1,056 |  |  | $ | (373) |  |  | $ | 25,304 |  |  | $ | (462) |
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:
| June 30, 2021 |  | December 31, 2020
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for credit losses |  | Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for credit losses |  | Fair Value
| (Dollars in thousands)
U.S. government agency securities | $ | 33,853 |  |  | $ | — |  |  | $ | (123) |  |  | $ | — |  |  | $ | 33,730 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
U.S. treasury securities | 3,010 |  |  | 28 |  |  | — |  |  | — |  |  | 3,038 |  |  | 4,017 |  |  | 60 |  |  | — |  |  | — |  |  | 4,077 |
Agency mortgage-backed securities | 381,030 |  |  | 12,507 |  |  | (1,495) |  |  | — |  |  | 392,042 |  |  | 356,085 |  |  | 18,036 |  |  | — |  |  | — |  |  | 374,121 |
Agency collateralized mortgage obligations | 418,112 |  |  | 6,347 |  |  | (2,618) |  |  | — |  |  | 421,841 |  |  | 335,993 |  |  | 8,466 |  |  | (340) |  |  | — |  |  | 344,119 |
Single issuer trust preferred securities issued by banks | 1,500 |  |  | 8 |  |  | — |  |  | — |  |  | 1,508 |  |  | 1,500 |  |  | — |  |  | (2) |  |  | — |  |  | 1,498 |
Small business administration pooled securities | 24,316 |  |  | 1,326 |  |  | — |  |  | — |  |  | 25,642 |  |  | 26,917 |  |  | 1,445 |  |  | — |  |  | — |  |  | 28,362 |
Total held to maturity securities | $ | 861,821 |  |  | $ | 20,216 |  |  | $ | (4,236) |  |  | $ | — |  |  | $ | 877,801 |  |  | $ | 724,512 |  |  | $ | 28,007 |  |  | $ | (342) |  |  | $ | — |  |  | $ | 752,177 |
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 June 30, 2021 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 | $ | 10,000 |  |  | $ | 10,123 |  |  | $ | — |  |  | $ | — |  |  | $ | 182,829 |  |  | $ | 183,919 |  |  | $ | — |  |  | $ | — |  |  | $ | 192,829 |  |  | $ | 194,042 |
U.S. treasury securities | — |  |  | — |  |  | — |  |  | — |  |  | 132,247 |  |  | 132,351 |  |  | — |  |  | — |  |  | 132,247 |  |  | 132,351 |
Agency mortgage-backed securities | — |  |  | — |  |  | 80,105 |  |  | 82,563 |  |  | 97,297 |  |  | 97,247 |  |  | 131,268 |  |  | 134,286 |  |  | 308,670 |  |  | 314,096 |
Agency collateralized mortgage obligations | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 93,307 |  |  | 95,837 |  |  | 93,307 |  |  | 95,837 |
State, county, and municipal securities | 350 |  |  | 351 |  |  | — |  |  | — |  |  | 191 |  |  | 204 |  |  | — |  |  | — |  |  | 541 |  |  | 555 |
Single issuer trust preferred securities issued by banks | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 489 |  |  | 490 |  |  | 489 |  |  | 490 |
Pooled trust preferred securities issued by banks and insurers | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,409 |  |  | 1,061 |  |  | 1,409 |  |  | 1,061 |
Small business administration pooled securities | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 52,869 |  |  | 56,084 |  |  | 52,869 |  |  | 56,084 |
Total available for sale securities | $ | 10,350 |  |  | $ | 10,474 |  |  | $ | 80,105 |  |  | $ | 82,563 |  |  | $ | 412,564 |  |  | $ | 413,721 |  |  | $ | 279,342 |  |  | $ | 287,758 |  |  | $ | 782,361 |  |  | $ | 794,516 |
Held to maturity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency securities | $ | — |  |  | $ | — |  |  | $ | 33,853 |  |  | $ | 33,730 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 33,853 |  |  | $ | 33,730 |
U.S. treasury securities | 3,010 |  |  | 3,038 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,010 |  |  | 3,038 |
Agency mortgage-backed securities | — |  |  | — |  |  | 3,995 |  |  | 4,221 |  |  | 124,640 |  |  | 126,003 |  |  | 252,395 |  |  | 261,818 |  |  | 381,030 |  |  | 392,042 |
Agency collateralized mortgage obligations | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 418,112 |  |  | 421,841 |  |  | 418,112 |  |  | 421,841 |
Single issuer trust preferred securities issued by banks | — |  |  | — |  |  | — |  |  | — |  |  | 1,500 |  |  | 1,508 |  |  | — |  |  | — |  |  | 1,500 |  |  | 1,508 |
Small business administration pooled securities | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 24,316 |  |  | 25,642 |  |  | 24,316 |  |  | 25,642 |
Total held to maturity securities | $ | 3,010 |  |  | $ | 3,038 |  |  | $ | 37,848 |  |  | $ | 37,951 |  |  | $ | 126,140 |  |  | $ | 127,511 |  |  | $ | 694,823 |  |  | $ | 709,301 |  |  | $ | 861,821 |  |  | $ | 877,801 |
Total | $ | 13,360 |  |  | $ | 13,512 |  |  | $ | 117,953 |  |  | $ | 120,514 |  |  | $ | 538,704 |  |  | $ | 541,232 |  |  | $ | 974,165 |  |  | $ | 997,059 |  |  | $ | 1,644,182 |  |  | $ | 1,672,317 |

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: | dtr-types: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: | dtr-types: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: | dtr-types: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://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=123581744&loc=SL120269825-111563 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=123581744&loc=SL120269820-111563 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27232-111563 + Details
Name: | us-gaap_HeldToMaturitySecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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: | dtr-types: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