Independent Bk Corp Mass - INDB STOCK NEWS

Independent Bank Corp. (NASDAQ: INDB), parent company of Rockland Trust Company, has scheduled its first quarter 2025 earnings conference call for Thursday, April 17, 2025, at 5:30 PM Eastern Time.

Investors can access the call through multiple channels:

• Dial-in number: 888-336-7153 (Reference: INDB)
• Pre-registration link: https://dpregister.com/sreg/10196701/fe73a708c2
• Company website: https://indb.rocklandtrust.com

A replay will be available until April 25, 2025, by calling 877-344-7529 (Conference Number: 6859369). The webcast replay will remain accessible until April 17, 2026. Rockland Trust operates retail branches across Eastern Massachusetts and Worcester County, with commercial banking and investment offices in Massachusetts and Rhode Island, providing comprehensive banking, investment, and insurance services.

Independent Bank Corp (NASDAQ: INDB), parent of Rockland Trust Company, has announced a 4% increase in its quarterly dividend. The new dividend of $0.59 per share represents a $0.02 increase from the previous quarter. Shareholders of record as of March 31, 2025, will receive the dividend payment on April 7, 2025.

CEO Jeffrey Tengel emphasized the company's dedication to providing sustainable, long-term returns on capital to shareholders through this dividend increase.

Independent Bank Corp. (INDB) has announced the appointment of three new directors to its Board, effective April 1, 2025. The new appointees are Leif O'Leary, CEO of Alegeus Technologies, Dawn Perry, SVP and Chief Risk Officer at Blue Cross Blue Shield of Massachusetts, and Aparna Ramesh, EVP and CFO of the Federal Agricultural Mortgage

O'Leary brings 30 years of technology and digital transformation expertise, Perry contributes regulatory compliance and risk management experience, and Ramesh offers extensive financial leadership from both private and public sectors. The appointments aim to enhance the bank's governance and support its growth strategy.

Board Chair Donna L. Abelli stated that each new director brings unique perspectives that will strengthen Rockland Trust's relationships and support its community commitment. These strategic appointments reflect the bank's focus on technological innovation, risk management, and financial oversight.

Independent Bank Corp. (INDB) reported Q4 2024 net income of $50.0 million ($1.18 per diluted share), up from Q3 2024's $42.9 million ($1.01 per diluted share). The quarter included $1.9 million in pre-tax merger costs related to the pending Enterprise Bancorp acquisition. Excluding merger costs, operating net income was $51.4 million ($1.21 per diluted share).

Total assets remained flat at $19.4 billion, while total loans increased by $147.6 million (1.0%) to $14.5 billion. Net interest income grew to $144.7 million, with net interest margin expanding to 3.33%. The company maintained strong asset quality with nonperforming loans at 0.70% of total loans. The allowance for credit losses increased to $170.0 million, representing 1.17% of total loans.

Independent Bank Corp. (INDB), parent of Rockland Trust Company, has scheduled its fourth quarter earnings conference call for January 17, 2025, at 10:00 AM Eastern Time. Participants can join via phone at 888-336-7153 or pre-register online for immediate access. A replay will be available until January 24, 2025, by calling 877-344-7529 (Conference Number: 6760633).

The call will also be accessible through the company's website, with the webcast replay available until January 17, 2026. Rockland Trust, headquartered in Massachusetts, operates as a full-service commercial bank with branches across Eastern Massachusetts and Worcester County, plus commercial banking and investment offices in Massachusetts and Rhode Island. The bank provides comprehensive banking, investment, and insurance services, including mobile, online, and telephone banking options.

Independent Bank Corp. (NASDAQ: INDB) and Enterprise Bancorp (NASDAQ: EBTC) have announced a merger agreement valued at approximately $562 million. Enterprise shareholders will receive 0.60 INDB shares and $2.00 in cash per Enterprise share, totaling about 7.5 million INDB shares and $27.1 million in cash. Independent plans to raise $250 million in subordinate debt before closing.

The merger combines Independent's 124 branches with Enterprise's 27 branches in complementary markets across Massachusetts and New Hampshire. No branch closures are planned. The combined entity will manage approximately $20 billion in deposits, with 25-30% being noninterest-bearing. The merger will create an $8.7 billion wealth management platform and is expected to achieve cost savings of 30% of Enterprise's annual operating expenses.

Independent Bank Corp. (NASDAQ: INDB), the parent company of Rockland Trust Company, has declared a quarterly dividend of $0.57 per share. The dividend will be paid on January 6, 2025, to stockholders of record as of December 30, 2024.

Rockland Trust Company operates as a full-service commercial bank headquartered in Massachusetts, with retail branches across Eastern Massachusetts and Worcester County. The bank also maintains commercial banking and investment management offices in Massachusetts and Rhode Island, offering comprehensive banking, investment, and insurance services to individuals, families, and businesses.

Independent Bank Corp. (INDB) and Enterprise Bancorp have signed a merger agreement where Rockland Trust will acquire Enterprise Bank in a cash and stock transaction valued at approximately $562 million. Enterprise shareholders will receive 0.60 shares of Independent common stock and $2.00 in cash per share.

The merger, expected to close in the second half of 2025, will expand Rockland Trust's footprint into northern Massachusetts and southern New Hampshire. Enterprise Bank operates 27 full-service branches with $4.7 billion in total assets, $3.8 billion in net loans, and $4.2 billion in deposits. Post-merger, Rockland Trust will have approximately $25 billion in assets and $8.7 billion in wealth assets under administration.

Independent Bank Corp (Nasdaq: INDB) reported third quarter 2024 net income of $42.9 million, or $1.01 per diluted share, down from $51.3 million in Q2. The decline was primarily due to an increased loan loss provision, partially offset by higher revenue. Key highlights include:

- Total assets remained flat at $19.4 billion
- Total loans decreased slightly by 0.3% to $14.4 billion
- Average deposits increased by 2.2% to $15.4 billion
- Net interest income rose to $141.7 million
- Net interest margin improved by 4 basis points to 3.29%
- Noninterest income increased by 3.8% to $33.5 million
- Noninterest expense grew by 0.8% to $100.4 million

The company's asset quality saw some pressure, with nonperforming loans increasing to 0.73% of total loans, up from 0.40% in Q2. The allowance for credit losses on total loans rose to 1.14% from 1.05% in the previous quarter.