Independent Bank vs Washington Trust Bancorp
Independent Bank and Washington Trust Bancorp are similar in size: $226m and $229m of revenue in their latest fiscal years. Washington Trust Bancorp grew faster (127.6% against 1.4%). Independent Bank kept more of each dollar of sales as profit: a net margin of 30.4% against 22.8%.
| Latest fiscal year | Independent BankIBCP, 2025 | Washington Trust BancorpWASH, 2025 |
|---|---|---|
| Revenue | $226m | $229m |
| Revenue growth | 1.4% | 127.6% |
| Net income | $68.5m | $52.2m |
| Operating margin | — | — |
| Net margin | 30.4% | 22.8% |
| Return on equity | 14.3% | 10.0% |
| Free cash flow | $70.2m | $78.3m |
| Cash | $138m | $104m |
| Total debt | $0 | $0 |
| Debt to equity | — | — |
| Dividend per share | $1.04 | $2.24 |
| Dividend yield | 2.9% | 5.7% |
| Share buybacks | $12.4m | $7.4m |
| Employees | 735 | 642 |
| Market value | $757m | $750m |
| Price vs our value range | — | — |
| Moat score | 82 (Strong) | 56 (Moderate) |
| Insider trades, 12 months | 3 buys, 19 sales | 0 buys, 0 sales |