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Dec 31, 2022
Independent Bank Q4 2022 Earnings Report
Reported a net income of $77.0 million, driven by net interest margin expansion, loan growth, and higher fee income.
Key Takeaways
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.
Net income for the fourth quarter was $77.0 million, or $1.69 per diluted share.
Total loans increased by $228.3 million, or 1.7% compared to the prior quarter.
Deposit balances decreased by $460.0 million, or 2.8%, from the prior quarter.
Net interest margin increased by 21 basis points from the prior quarter to 3.85%.
Forward Guidance
Independent Bank Corp. did not provide specific forward guidance in the earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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