Quarterly ResultMay 6, 2026, 04:19 PM
Independent Bank Corp. Q1 Net Income Jumps 80% to $79.9M; EPS $1.63
AI Summary
Independent Bank Corp. reported a strong first quarter for 2026, with net income increasing significantly to $79.9 million and diluted earnings per share rising to $1.63. The company saw a substantial increase in net interest income and a notable decrease in its provision for credit losses. Additionally, Independent Bank Corp. increased its common dividend and repurchased shares during the quarter.
Key Highlights
- Net income for Q1 2026 increased 79.9% to $79.9 million.
- Diluted earnings per share rose 56.7% to $1.63 in Q1 2026.
- Net interest income grew 46.0% to $212.5 million for Q1 2026.
- Provision for credit losses decreased 63.3% to $5.5 million.
- Common dividends declared increased 8.5% to $0.64 per share.
- Repurchased 802,316 shares for $63.9 million in Q1 2026.
- Total assets were $24.78 billion at March 31, 2026.
- Total deposits were $20.10 billion at March 31, 2026.
Price Impact
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