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Independent Bank Q1 net income rises 79.9% to $79.9 million

PUBT·05/06/2026 20:52:31
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Independent Bank Q1 net income rises 79.9% to $79.9 million
  • Independent Bank posted net income of USD 79.9 million, or USD 1.63 a share, for three months ended March 31, 2026, up from USD 44.4 million, or USD 1.04 a share, a year earlier.
  • Net interest margin widened to 3.90% from 3.42% a year earlier, while net interest income was USD 212.5 million.
  • Provision for credit losses was USD 5.5 million, down from USD 15 million a year earlier, while non-performing loans rose to USD 96.6 million from USD 83.6 million at Dec. 31, 2025.
  • Deposits slipped USD 29.3 million from Dec. 31, 2025 to USD 20.1 billion, while loans fell USD 78.3 million to USD 18.43 billion.
  • Company bought back 802,000 shares for USD 63.3 million under its USD 150 million repurchase plan, while quarterly dividend was raised 8.5% to USD 0.64 a share.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Independent Bank Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000776901-26-000104), on May 06, 2026, and is solely responsible for the information contained therein.