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Jun 30, 2021
Independent Bank Q2 2021 Earnings Report
Reported a net income of $37.6 million for the second quarter of 2021.
Key Takeaways
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.
Net income for the second quarter of 2021 was $37.6 million, or $1.14 per diluted share.
Total assets reached $14.2 billion, an increase of $420.3 million from the prior quarter.
Deposit balances increased by $393.4 million to $12.0 billion.
Net interest income decreased to $93.4 million compared to $95.6 million for the prior quarter.
Independent Bank
Independent Bank
Forward Guidance
Independent Bank Corp. is focused on growth opportunities as the local economy recovers and is working on the merger with Meridian Bancorp./East Boston Savings Bank.