Independent Bank Earnings Reports

Independent Bank Corp. delivered Q1 2025 results marked by solid fundamentals including margin expansion and deposit growth, despite a drop in net income due to elevated loan charge-offs.

Independent Bank Corp. announced a fourth-quarter net income of $50.0 million, or $1.18 per diluted share, compared to $42.9 million, or $1.01 per diluted share, in the previous quarter. The results include pre-tax merger-related costs of $1.9 million. Excluding these costs, operating net income was $51.4 million, or $1.21 per diluted share. The increase in net income was primarily due to growth in net interest income, a decrease in loan loss provision, and a reduced tax rate.

Independent Bank Corp. reported a net income of $42.9 million for the third quarter of 2024, a decrease compared to the previous quarter. The decline was primarily due to an increase in the loan loss provision, although this was partially offset by higher revenue levels. The company's total assets remained relatively flat, while average deposits increased.

Independent Bank Corp. reported a strong second quarter with net income of $51.3 million, or $1.21 per diluted share, compared to $47.8 million, or $1.12 per diluted share, for the first quarter of 2024. The results reflect positive momentum in the company's core financial components, with total assets reaching $19.4 billion and deposit balances rising to $15.4 billion.

Independent Bank Corp. reported a net income of $47.8 million for the first quarter of 2024, with a return on average assets of 1.00% and a return on average common equity of 6.63%. Deposit levels resumed growth, rising by $177.7 million, or 1.2%, from the prior quarter.

Independent Bank Corp. reported a fourth-quarter net income of $54.8 million, or $1.26 per diluted share. Total assets reached $19.3 billion, and total loans amounted to $14.3 billion. The company executed a stock repurchase plan, buying back 1.3 million shares for $69.0 million.

Independent Bank Corp. reported a net income of $60.8 million for the third quarter of 2023, with a return on average assets of 1.25% and a return on average common equity of 8.35%. Total assets remained relatively consistent with the prior quarter at $19.4 billion.

Independent Bank Corp. reported a net income of $62.6 million for the second quarter of 2023, a slight increase from the previous quarter. The results reflect strong business fundamentals, including healthy loan volumes, strong fee income, and disciplined expense management.

Independent Bank Corp. reported a net income of $61.2 million for the first quarter of 2023, a decrease compared to the previous quarter. The results were influenced by increased interest expenses due to higher deposit costs and increased borrowings.

Independent Bank Corp. reported a strong fourth quarter with a net income of $77.0 million, or $1.69 per diluted share, driven by net interest margin expansion, solid loan growth and higher fee income. Total assets decreased by $409.1 million from the prior quarter.

Independent Bank Corp. reported a net income of $71.9 million for the third quarter of 2022, an increase compared to the previous quarter. This was primarily driven by strong net interest margin expansion and profitable deployment of liquid assets. The company's return on average assets was 1.43%, and return on average common equity was 9.90%.

Independent Bank Corp. reported a strong second quarter with a net income of $61.8 million, or $1.32 per diluted share. The performance was driven by higher revenues and disciplined growth, with solid results in loan and revenue growth, and a sound balance sheet.

Independent Bank Corp. reported a strong start to 2022 with a net income of $53.1 million for the first quarter. The results reflect the successful integration of East Boston Savings Bank and a focus on strengthening customer relationships.

Independent Bank Corp. reported a net income of $1.7 million for Q4 2021, significantly lower than the previous quarter due to pre-tax merger-related costs of $37.2 million and a $50.7 million provision for credit losses related to the Meridian Bancorp acquisition. Excluding these costs, operating net income was $65.7 million, or $1.63 per diluted share.

Independent Bank Corp. reported a net income of $40.0 million for the third quarter of 2021, or $1.21 per diluted share. Excluding merger-related costs, operating net income was $41.4 million, or $1.25 per diluted share.

Independent Bank Corp. reported a net income of $37.6 million for the second quarter of 2021, a decrease compared to the previous quarter's $41.7 million. The results include merger-related costs of $1.7 million. Despite a decrease in net interest income, the company saw growth in deposit balances and a reduction in the cost of deposits.

Independent Bank Corp. reported a solid performance in Q1 2021, with net income of $41.7 million, or $1.26 per diluted share. The results were positively impacted by a release of provision for loan loss and elevated interest income from forgiven PPP loans.

Independent Bank Corp. reported a fourth-quarter net income of $34.6 million, or $1.05 per diluted share. The results include $5.2 million of pretax costs related to branch closures and the sale of non-strategic investments. Total assets reached $13.2 billion, marking a 15.9% increase compared to the previous year.

Independent Bank Corp. reported a net income of $34.9 million, or $1.06 per diluted share, for the third quarter of 2020. Excluding a loss on terminated hedges, operating net income was $35.4 million, or $1.07 per diluted share. Total assets reached $13.2 billion, marking a 1.2% increase from the prior quarter and a 14.2% increase compared to the year-ago period.

Independent Bank Corp. reported a net income of $24.9 million for Q2 2020, which was negatively impacted by the Coronavirus pandemic and elevated provision for credit losses. Total assets increased by $1.0 billion from the prior quarter, primarily due to participation in the Paycheck Protection Program.

Independent Bank Corp. reported a net income of $26.8 million for the first quarter of 2020, which was impacted by an elevated provision for credit losses of $25.0 million due to assumptions regarding the impact of the Coronavirus pandemic.

Independent Bank Corp. reported a net income of $47.5 million, or $1.38 per diluted share, for the fourth quarter of 2019. Total assets decreased slightly from the prior quarter, while total loans and deposits also saw decreases. The company's net interest income decreased due to recent Federal Reserve rate cuts and lower acquired loan accretion income.