Independent Bank Q3 2020 Earnings Report

Independent Bank Corp. reported a net income of $34.9 million for the third quarter of 2020.

Key Takeaways

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.

Net income for the third quarter of 2020 was $34.9 million, or $1.06 per diluted share.

Operating net income, excluding a loss on terminated hedges, was $35.4 million, or $1.07 per diluted share.

Total assets increased to $13.2 billion, up 1.2% from the prior quarter and 14.2% from the year-ago period.

Deposit balances increased by $134.5 million, or 1.3%, from the prior quarter, reaching $10.9 billion.