Independent Bank Corp. Reports Third Quarter Net Income of $42.9 Million
Independent Bank Corp. (INDB)
Last independent bank corp. earnings: 4/23 04:10 pm
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US:NASDAQ Investor Relations:
independentbankgroup.gcs-web.com/investor-relations
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Source: Business Wire
Results marked by higher revenues, increased credit provision, and deposit growth ROCKLAND, Mass.--(BUSINESS WIRE)--Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2024 third quarter net income of $42.9 million, or $1.01 per diluted share, compared to 2024 second quarter net income of $51.3 million, or $1.21 per diluted share. The decline in net income was largely attributable to an increase in the Company’s loan loss provision compared to the prior quarter, partially mitigated by higher revenue levels. The increased loan loss provision was primarily attributable to a reserve allocation associated with one commercial real estate loan, while total levels of criticized and classified loans remained stable.The Company generated a return on average assets of 0.88% and a return on average common equity of 5.75% for the third quarter of 2024, as compared to 1.07% and 7.10%, respectively, for the prior quarter.“Our employees co
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INDB
Earnings
- 10/17/24 - Miss
INDB
Sec Filings
- 11/13/24 - Form 8-K
- 11/7/24 - Form 10-Q
- 10/31/24 - Form SC
- INDB's page on the SEC website