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INDB · NASDAQ

Independent Bank Corp

Not compliant

Independent Bank Corp is not compliant. It fails the business-activity screen: conventional banking.

TickerINDB
ExchangeNASDAQ
SectorState Commercial Banks
Not compliantIndependent Bank CorpINDB · NASDAQ
FailBusiness activity
permissible core business
n/aInterest income / revenue
limit 5%
n/aDebt / total assets
limit 33.33%
n/aCash / total assets
limit 33.33%

Data and sources.

ResultBusiness-activity test: the company's core business.
Financial ratiosNot shown: the company fails the business-activity test, so ratios do not change the result.
MethodAAOIFI Shariah Standard No. 21, business-activity screen. Purindex method v1 · how it works
Last updatedNot yet screened with financial data

Spotted a mistake? Report a data issue. Purindex publishes this screening to help people understand what they own. It does not recommend buying, selling or holding Independent Bank Corp or any other security.

Questions about Independent Bank Corp.

Is Independent Bank Corp (INDB) stock halal?
Independent Bank Corp is not compliant. It fails the business-activity screen: conventional banking.
How does Purindex decide whether INDB is Shariah compliant?
The core business must be permissible, impure revenue must stay below 5% of total revenue, and interest-bearing debt and interest-bearing cash must each stay below 30% of market capitalisation. A company within 10% of a limit is marked doubtful. Until share prices are loaded, US, European and UK companies are checked against total assets (33.33% limits) using their official filings, and companies without verified data are marked insufficient data.
Should I buy Independent Bank Corp shares?
Purindex does not recommend buying, selling or holding Independent Bank Corp or any other security. It publishes screening information so you can check what you own. For a personal ruling, consult a qualified scholar.