INDEPENDENT BANK CORP Earnings Per Share Disclosure
| 2020 | 2019 | 2018 | |||||||||||||||
| (Dollars in thousands, except per share data) | |||||||||||||||||
| Net income | $ | 121,167 | $ | 165,175 | $ | 121,622 | |||||||||||
| Weighted Average Shares | |||||||||||||||||
| Basic shares | 33,259,643 | 32,810,433 | 27,592,380 | ||||||||||||||
| Effect of dilutive securities | 25,646 | 45,801 | 61,428 | ||||||||||||||
| Diluted shares | 33,285,289 | 32,856,234 | 27,653,808 | ||||||||||||||
| Net income per share | |||||||||||||||||
| Basic EPS | $ | 3.64 | $ | 5.03 | $ | 4.41 | |||||||||||
| Effect of dilutive securities | — | — | (0.01) | ||||||||||||||
| Diluted EPS | $ | 3.64 | $ | 5.03 | $ | 4.40 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2020 | Feb 26, 2021 | Showing above |
| 2019 | Feb 27, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Feb 27, 2018 | |
| 2016 | Feb 28, 2017 | |
| 2015 | Feb 25, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.