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Mar 31, 2024
Independent Bank Q1 2024 Earnings Report
Independent Bank Corp. reported net income for Q1 2024, reflecting the underlying strength of the franchise.
Key Takeaways
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.
Net income for the first quarter of 2024 was $47.8 million, or $1.12 per diluted share.
Total assets remained relatively consistent with the prior quarter, totaling $19.3 billion.
Total loans increased by $52.5 million, or 0.4%, compared to the prior quarter.
Deposit levels increased by $177.7 million, or 1.2%, from the prior quarter.
Forward Guidance
The company did not provide forward guidance in the earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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