Independent Bank Corp..
INDB.US | Other monetary intermediation
Independent Bank Corp. is a bank holding company. It provides various banking products and services to individuals, families, and businesses. The company offers deposit products, including checking, savings, and money market accounts, as well as certificates of deposit. Its lending portfolio compris...Show More
Better Health for All
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Independent Bank Corp. is a bank holding company, and its core products and services, such as banking, lending, and wealth management, do not have a direct positive or negative health impact. The company offers Health Savings Accounts (HSAs).
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which are financial products that facilitate saving for healthcare expenses, but this does not constitute a direct health service or product. No evidence indicates revenue from products with negative health outcomes, direct safety implications for health, or health-related R&D. The company does not collect or manage health-related data, engage in preventative health or treatment activities, or conduct clinical trials. Its operations are not directly relevant to health crisis response, mental health outcomes, or healthcare workforce development. The company does not hold healthcare-related patents, produce food/nutritional products, or offer products with addiction potential. While the company engages in community support, such as donations to food pantries and affordable housing,
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these are not explicitly defined as health equity programs or preventative health measures within the scope of the 'Better Health for All' value.
Fair Money & Economic Opportunity
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The FDIC and the Massachusetts Division of Banks have assigned the Bank an "Outstanding" Community Reinvestment Act (CRA) rating as of its latest examination.
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Fair Pay & Worker Respect
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In 2024, Independent Bank Corp.'s CEO pay ratio was 39:1, with the CEO's total compensation at $2,924,622 and the median employee pay at $74,413.
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The company achieved an 88% employee engagement score in 2024, which is significantly above the industry average of 57%.
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Fair Trade & Ethical Sourcing
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No evidence available to assess Independent Bank Corp. on Fair Trade & Ethical Sourcing.
Honest & Fair Business
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Based on the provided articles, there is insufficient evidence to assess Independent Bank Corp.'s (INDB.US) alignment with the 'Honest & Fair Business' value. The articles lack specific data on regulatory fines, transparency indices, whistleblower policies, financial restatements, audit coverage, ESG controversy scores, complaint resolution times, board independence, anti-corruption policies, and third-party verification.
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Without concrete evidence, a neutral score is assigned. More information is needed to provide an accurate assessment.
Kind to Animals
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Independent Bank Corp. is a bank holding company providing financial products and services. Its core business model does not involve activities such as product manufacturing, animal testing, animal husbandry, or sourcing animal-derived ingredients. Therefore, KPIs related to cruelty-free certification, alternative testing methods, humane certifications for operations, ethical input substitution, supplier audits for animal welfare, cage-free sourcing, animal testing policies and volume, innovation investment in animal-free technologies, animal agriculture ethics, animal-free R&D collaboration, and public policy engagement on animal welfare are not applicable. While the company engages in general environmental clean-up efforts, the evidence does not provide measurable biodiversity impact, species recovery, or habitat restoration metrics required by the 'wildlife_conservation_impact' KPI.
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No War, No Weapons
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The company, a bank, does not have direct involvement in defense or arms-related activities. The provided articles, primarily ESG reports, do not contain any specific, concrete data points related to revenue from arms contracts, dual-use technology, sales to embargoed regimes, peacebuilding investments, conflict divestment policies, board oversight of defense activities, export certifications, lobbying against arms control, humanitarian procurement compliance, human rights due diligence in conflict-affected areas, Arms Trade Treaty compliance, AI military safeguards, UN Guiding Principles alignment, dual-use screening, surveillance transparency related to intelligence contracts, ethical red lines specifically for weapons, exposure to controversial weapons, war risk audits, annual conflict partner reviews, defense divestment, conflict minerals, peace tech investment, conflict zone procurement, or ethical red lines compliance rates related to conflict.
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Therefore, all KPIs under the 'No War, No Weapons' value must be omitted due to a lack of relevant evidence.
Planet-Friendly Business
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Independent Bank Corp. does not have publicly available carbon emissions data, specific reduction targets, or climate commitments for the most recent year.
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The company is also not participating in any tracked reduction initiatives.
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While the bank mentions efforts such as installing solar parking lot lights and a rooftop solar PV system at one branch, and upgrading facilities with Energy Star-rated HVAC equipment and touchless faucets/toilets, no quantitative data is provided for the percentage of renewable energy used or water withdrawn per revenue unit.
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There is also no information on the percentage of facilities with green certifications or the waste diversion rate for all waste streams.
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The company's 2024 Community Impact Report indicates lending of $139 million for environmental initiatives, including energy efficiency, clean energy, renewable energy, and recycling.
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Respect for Cultures & Communities
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All provided articles explicitly detail the community engagement and ESG initiatives of Rockland Trust, a subsidiary of Independent Bank Corp. (INDB.US). Each article explicitly states that the information is specific to Rockland Trust and does not provide data directly related to INDB.US's company-wide performance concerning Respect for Cultures & Communities. Therefore, no specific evidence for the parent company, INDB.US, could be identified for any of the KPIs.
Safe & Smart Tech
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Insufficient evidence to determine a value score for Independent Bank Corp. regarding Safe & Smart Tech. No articles or relevant information found. A neutral score of 0 is assigned.
Materiality Analysis: Company Summary (75-100 words): Independent Bank Corp. (Rockland Trust) is a regional bank offering traditional banking services like deposit accounts, loans (commercial, real estate, consumer), and wealth management. It serves individuals and small-to-medium businesses primarily in Massachusetts. The company provides digital banking services, including online and mobile banking, and utilizes technology for various operational aspects, including cash management and investment services. Recent strategic changes are not specified, but as a bank, it is subject to evolving regulatory and cybersecurity landscapes.
Peer Comparison (50-75 words): Compared to peers, INDB's "Safe & Smart Tech" performance likely aligns with industry standards for regional banks. Larger national banks often have more extensive cybersecurity budgets and AI governance frameworks. Regional banks face similar threats but may have resource constraints affecting investment in cutting-edge security measures.
Materiality Assessment (1-2 clear sentences): The business model is fundamentally neutral to "Safe & Smart Tech," with medium materiality, as technology is integral to its operations but not inherently aligned or misaligned with the value. The bank's reliance on technology for core services necessitates responsible data handling and cybersecurity.
Detailed Rationale (150-200 words): As a financial institution, INDB handles sensitive customer data, making data protection and cybersecurity paramount. The bank's digital banking platforms, online services, and internal systems are potential targets for cyberattacks. Compliance with regulations like GDPR and CCPA, while not explicitly mentioned, are crucial for its operations. The company's investment in cybersecurity, employee training, and vulnerability management directly impacts its alignment with this value. While INDB may not be directly involved in developing AI algorithms, its use of AI in fraud detection, credit scoring, or customer service necessitates ethical considerations and transparency. The extent of encryption implementation, user data control, and privacy-by-design practices are key indicators of its commitment to "Safe & Smart Tech."
Value Interaction Notes (if applicable, 25-50 words): Strong security measures may sometimes conflict with user convenience. Balancing robust authentication with ease of access is a common challenge in the banking sector.
Scoring Boundary Flags (if applicable, 25-50 words): Scores significantly below average would be illogical, given regulatory requirements for data protection in the financial sector. A score below 3/10 should trigger further investigation.
Zero Waste & Sustainable Products
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Independent Bank Corp. (INDB.US) has no reported waste disposal violations or citations across the provided reporting periods.
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While its subsidiary, Rockland Trust, mentions recycling programs for paper, toner cartridges, and light bulbs, as well as confidential paper shredding and shred day events, these initiatives are not explicitly stated as company-wide for INDB.US.
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No specific, quantifiable data is available for INDB.US regarding waste diversion rates, product recyclability, packaging sustainability, recycled content, single-use plastic reduction, take-back programs, circular design principles, hazardous waste management, product durability, repairability scores, waste audit frequency, zero waste certifications, material efficiency, packaging-to-product ratios, waste reduction targets, supplier waste requirements, or customer waste education.
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