Jeffrey Tengel is CEO and President of Independent Bank Corp (INDB). The company reported total compensation of $3,606,962 for fiscal year 2025.
| Salary | $1,097,385 |
|---|---|
| Bonus | $0 |
| Stock awards | $1,094,318 |
| Option awards | $0 |
| Non-equity incentive plan | $1,123,669 |
| Pension and non-qualified deferred compensation | $0 |
| All other compensation | $291,590 |
| Total | $3,606,962 |
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed, without adjustment.
Cited to the compensation disclosure Independent Bank Corp filed March 26, 2026, accession 0000776901-26-000079.
| Fiscal year | Role | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | CEO and President | $1,097,385 | $0 | $1,094,318 | $0 | $1,123,669 | $0 | $291,590 | $3,606,962 |
| FY2024 | Chief Executive Officer and President of the Company | $1,021,923 | $0 | $851,509 | $0 | $850,986 | $0 | $200,204 | $2,924,622 |
| FY2023 | CEO and President | $903,846 | $1,620,000 | $2,008,786 | — | $547,826 | — | $132,767 | $5,213,225 |
Totals as disclosed in each year's own compensation disclosure for Independent Bank Corp.
| Peer-group chief executive median | $3,521,400 |
|---|---|
| Difference from that median | $85,562 |
| Percentile within the disclosed peer group | 54th |
| Peers with a disclosed figure | 12 |
Medians and percentiles are computed across the peer group Independent Bank Corp discloses in its own compensation disclosure.
| Named executive officer | Role | FY2025 total |
|---|---|---|
| Jeffrey Tengel this page | CEO and President | $3,606,962 |
| Mark Ruggiero | CFO and EVP of Consumer Lending | $1,705,141 |
| Lee Powlus | EVP and Chief Administrative Officer | $1,183,310 |
| Patricia Natale | EVP and General Counsel and Corporate Secretary | $1,132,534 |
| James Rizzo | EVP and Chief Commercial Banking Officer | $1,127,205 |
The company's named executive officers for fiscal year 2025, and what it reported for each. See the full Independent Bank Corp compensation brief.
Jeffrey Tengel's compensation sits inside Independent Bank Corp's full executive and board picture — the peer group, pay against peers, incentive design and the board itself.