Earnings summaries and quarterly performance for INDEPENDENT BANK.
Executive leadership at INDEPENDENT BANK.
Jeffrey Tengel
Detailed
Chief Executive Officer and President
CEO
Gerard Nadeau
Detailed
President, Rockland Trust Company
James Rizzo
Detailed
Chief Commercial Banking Officer, Rockland Trust Company
Kathryn O’Malley
Detailed
Chief Credit Officer, Rockland Trust Company
Lee Powlus
Detailed
Chief Technology and Operations Officer, Rockland Trust Company
Maria Harris
Detailed
Chief Human Resources Officer, Rockland Trust Company
Mark Ruggiero
Detailed
Chief Financial Officer
Patricia Natale
Detailed
General Counsel and Corporate Secretary
Board of directors at INDEPENDENT BANK.
Aparna Ramesh
Detailed
Director
Daniel O’Brien
Detailed
Director
Dawn Perry
Detailed
Director
Donna Abelli
Detailed
Chair of the Board
Eileen Miskell
Detailed
Director
James O’Shanna Morton
Detailed
Director
John Morrissey
Detailed
Director
Leif O’Leary
Detailed
Director
Mary Lentz
Detailed
Director
Michael Hogan
Detailed
Director
Scott Smith
Detailed
Director
Susan Perry O’Day
Detailed
Director
Thomas Venables
Detailed
Director
Research analysts who have asked questions during INDEPENDENT BANK earnings calls.
Mark Fitzgibbon
Piper Sandler & Co.
5 questions for INDB
Also covers: AMAL, BHLB, BRKL +11 more
Christopher O'Connell
Keefe, Bruyette, & Woods, Inc.
3 questions for INDB
Also covers: AMAL, ASB, BHLB +9 more
Laurie Hunsicker
Seaport Research Partners
3 questions for INDB
Also covers: BHLB, BRKL, EBC +3 more
Stephen Moss
Raymond James Financial, Inc.
3 questions for INDB
Also covers: AUB, BRKL, CAC +12 more
David Konrad
Keefe, Bruyette & Woods (KBW)
2 questions for INDB
Also covers: AMAL, BLFY, BRKL +8 more
Laura Havener Hunsicker
Seaport Research Partners
2 questions for INDB
Also covers: BHLB, BRKL, EBC +2 more
Steve Moss
Raymond James
1 question for INDB
Also covers: AUB, BRKL, BWFG +11 more
Thomas R
Raymond James Financial
1 question for INDB
Recent press releases and 8-K filings for INDB.
INDB Reports Q3 2025 Financial Highlights and Enterprise Acquisition Update
INDB
Earnings
M&A
Share Buyback
- Independent Bank Corp. (INDB) reported Q3 2025 GAAP diluted EPS of $0.69 and operating diluted EPS of $1.55, with a net interest margin of 3.62%.
- The company successfully closed the Enterprise acquisition on July 1, 2025, adding $5.1 billion in assets, $3.9 billion in loans, and $4.4 billion in deposits. The tangible book value dilution from the acquisition was 7.0%, which was less than the originally anticipated 9.8%.
- As of September 30, 2025, INDB's total assets were $25.0 billion, with $18.5 billion in loans and $20.3 billion in deposits.
- INDB maintains a strong capital position with a Common Equity Tier 1 ratio of 12.84% and a Total Capital ratio of 15.68% as of September 30, 2025. The company also repurchased approximately 365,000 shares for $23.4 million during Q3 2025.
4 hours ago
INDEPENDENT BANK CORP. Reports Q3 2025 Financial Highlights and Enterprise Acquisition Impact
INDB
Earnings
M&A
Share Buyback
- For Q3 2025, INDEPENDENT BANK CORP. reported net income of $34.3 million and diluted EPS of $0.69, with operating net income of $77.4 million and operating diluted EPS of $1.55.
- As of September 30, 2025, the company's key metrics included total assets of $25.0 billion, loans of $18.5 billion, and deposits of $20.3 billion.
- The Enterprise acquisition closed on July 1, 2025, contributing $5.1 billion in assets, $3.9 billion in loans, $4.4 billion in deposits, and $1.5 billion of Wealth AUA. The tangible book value dilution was 7.0%, lower than the initially projected 9.8%.
- The company's Net Interest Margin (NIM) increased by 25 basis points to 3.62% in Q3 2025.
- During Q3 2025, approximately 365,000 shares were repurchased for $23.4 million.
Nov 3, 2025, 9:10 PM
Independent Bank Corp. Announces Q3 2025 Results and Q4 2025 Guidance
INDB
Earnings
M&A
Guidance Update
- Independent Bank Corp. reported Q3 2025 GAAP net income of $34.3 million (diluted EPS of $0.69) and operating net income of $77.4 million (operating diluted EPS of $1.55).
- The Enterprise acquisition closed on July 1, 2025, contributing $5.1 billion in assets, $3.9 billion in loans, $4.4 billion in deposits, and $1.5 billion of Wealth AUA. This acquisition also led to $23.9 million in merger and acquisition expenses in Q3 2025.
- The net interest margin (NIM) increased by 25 basis points to 3.62% in Q3 2025. Wealth Assets Under Administration (AUA) grew to $9.2 billion, driven by the Enterprise acquisition and $360 million in organic growth.
- For Q4 2025, the company expects low-single digit percentage increases in loans and deposits, a 4-6 basis point margin expansion, and a decrease in core non-interest expenses of approximately $2 million due to additional Enterprise cost saves.
Oct 17, 2025, 2:00 PM
INDB Reports Q3 2025 Financial Results and Enterprise Acquisition Update
INDB
Earnings
M&A
Guidance Update
- INDB reported Q3 2025 GAAP net income of $34.3 million and diluted EPS of $0.69, with an adjusted operating net income of $77.4 million or $1.55 diluted EPS. The net interest margin improved by 25 basis points from the prior quarter to 3.62%.
- The company successfully closed the Enterprise transaction on July 1 and completed systems conversion, with integration proceeding well and retaining nearly 100% of client-facing personnel. The deal resulted in a tangible book dilution of approximately 7%, which was lower than the original 9.8% estimate.
- INDB reaffirmed guidance to achieve 30% cost savings on the acquired Enterprise expense base by 2026. For Q4 2025, the company anticipates 4 to 6 basis points of net interest margin expansion on an adjusted basis and a decrease of approximately $2 million in core non-interest expenses.
- The company repurchased $23.4 million of capital at an average price of $64.07 per share during the quarter. Organic C&I loan balances increased over 13% annualized for the quarter, and total Assets Under Administration (AUA) grew to $9.2 billion as of September 30.
Oct 17, 2025, 2:00 PM
INDB Reports Strong Q3 2025 Operating Results and Progress on Enterprise Integration
INDB
Earnings
M&A
Guidance Update
- For Q3 2025, INDB reported adjusted operating net income of $77.4 million, diluted EPS of $1.55, and an operating return on average tangible common equity that improved to 13.2%.
- The company successfully closed the Enterprise acquisition on July 1 and completed the systems conversion, bringing an additional $1.4 billion in assets under administration and reaffirming guidance for 30% cost saves to be fully realized by Q1 2026.
- The reported net interest margin (NIM) improved by 25 basis points to 3.62% for Q3 2025, with guidance anticipating an additional 4 to 6 basis points of expansion on an adjusted basis for Q4.
- Organic C&I loan balances increased over 13% on an annualized basis for the quarter, and the company projects low to mid-single-digit loan growth for the next year.
- Asset quality remains strong, with net charge-off activity at $1.8 million for the quarter, and total non-performing assets at 0.35% of total assets as of September 30, 2023 (likely 2025).
Oct 17, 2025, 2:00 PM
INDB Reports Strong Q3 2025 Results and Positive Enterprise Integration
INDB
Earnings
M&A
Guidance Update
- INDB reported strong Q3 2025 adjusted diluted EPS of $1.55 and an operating return on average tangible common equity of 13.2%, with the net interest margin improving to 3.62%.
- The integration of the Enterprise acquisition is progressing well, with negligible customer loss and over 90% of Enterprise employees accepting job offers. The company expects to realize 30% cost savings from the acquisition by Q1 2026.
- Organic C&I loans grew at a 13% annualized rate, and organic demand deposits increased 5% annualized in Q3 2025. Assets Under Administration (AUA) reached $9.2 billion, including $1.4 billion from Enterprise.
- The company repurchased $23.4 million of capital at an average price of $64.07 per share and targets a longer-term CET1 ratio of 12%.
- For Q4 2025, INDB anticipates 4 to 6 basis points of adjusted net interest margin expansion and a low single-digit percentage increase in loan and deposit growth.
Oct 17, 2025, 2:00 PM
Independent Bank Corp. Reports Q3 2025 Net Income and Details Enterprise Acquisition Impact
INDB
Earnings
M&A
Guidance Update
- Independent Bank Corp. reported Q3 2025 net income of $34.3 million, or $0.69 per diluted share, and operating net income of $77.4 million, or $1.55 per diluted share.
- The acquisition of Enterprise Bancorp, Inc., completed on July 1, 2025, significantly influenced Q3 results, contributing to $23.9 million in pre-tax merger-related costs and a $34.5 million provision for credit losses.
- This acquisition drove substantial balance sheet growth, with total assets increasing 24.7% to $25.0 billion, total deposits rising 27.7% to $20.3 billion, and total loans growing 27.0% to $18.5 billion at September 30, 2025.
- The company saw an improved net interest margin of 3.62% (up 25 basis points) and a reduced efficiency ratio of 56.18%. Nonperforming loans, inclusive of the acquired Enterprise portfolio, increased to $86.6 million (0.47% of total loans).
Oct 16, 2025, 8:11 PM
Independent Bank Corp. Reports Q3 2025 Net Income and Details Enterprise Acquisition Impact
INDB
Earnings
M&A
Share Buyback
- Independent Bank Corp. reported third quarter 2025 net income of $34.3 million, or $0.69 per diluted share, a decrease from the prior quarter primarily due to $23.9 million in merger-related costs and a $34.5 million provision for credit losses associated with the Enterprise acquisition.
- The company completed its acquisition of Enterprise Bancorp, Inc. on July 1, 2025, which added $3.9 billion in loans and $4.4 billion in deposits.
- Following the acquisition, total assets increased by $4.9 billion (24.7%) to $25.0 billion, deposit balances grew by $4.4 billion (27.7%) to $20.3 billion, and loan balances rose by $3.9 billion (27.0%) to $18.5 billion at September 30, 2025.
- The net interest margin improved by 25 basis points to 3.62% compared to the prior quarter.
- During the third quarter of 2025, the company repurchased approximately 365,000 shares for $23.4 million.
Oct 16, 2025, 8:10 PM
Independent Bank Corp. Reports Q2 2025 Financial Highlights and Provides Acquisition Update
INDB
M&A
Earnings
Share Buyback
- The Enterprise Bancorp acquisition closed on July 1, 2025, with systems conversion planned for mid-October, and full cost savings anticipated in Q1 2026. The updated estimated tangible book value dilution is (7.2)%, or (6.1)% excluding CECL "double count".
- For Q2 2025, Independent Bank Corp. reported GAAP net income of $51.1 million and diluted EPS of $1.20. Operating net income was $53.5 million and operating diluted EPS was $1.25.
- The company maintains a strong capital position with a Common Equity Tier 1 ratio of 14.70% as of June 30, 2025. A $150 million share repurchase program was announced in July 2025, with $20.3 million used to repurchase 321,000 shares through August 28, 2025.
- Management projects a Q3 2025 standalone net interest margin (NIM) increase of +4-6 bps, with an additional +17-20 bps benefit from purchase accounting related to the Enterprise Bancorp acquisition.
Sep 2, 2025, 8:14 PM
Quarterly earnings call transcripts for INDEPENDENT BANK.
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