Independent Bank Q3 2026 earnings rise to $89.7M

Q: What were INDB’s third-quarter 2026 earnings?

Independent Bank Corp. reported $89.7 million in net income and $1.90 per diluted share for Q3 2026, compared with $81.8 million and $1.70 in Q2 2026. Net interest income was $220.7 million.

Q4 2026 expectations include reported net interest margin in the low 3.90% range, with an estimated 10-basis-point purchase-loan-accretion benefit, assuming no change in rates.

Filing Impact

(High)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

8-K

Rhea-AI Filing Summary

Independent Bank Corp. reported third-quarter 2026 net income of $89.7 million, or $1.90 per diluted share, compared with $81.8 million and $1.70 in the prior quarter. Net interest income was $220.7 million, up $9.7 million from Q2, while net interest margin was 3.89%, up 4 basis points; adjusted margin was 3.76%.

At September 30, 2026, deposits totaled $20.5 billion and loans totaled $18.6 billion. The company repurchased approximately 679,000 shares for $57.4 million during the quarter. As of September 30, 2026, approximately $93 million remained under the $200 million repurchase authorization adopted April 30, 2026. Nonperforming loans increased to $125.7 million, or 0.68% of total loans, from $103.6 million, or 0.56%, at June 30, 2026. Delinquencies were 0.73% at September 30, 2026, compared with 0.43% at June 30, 2026.

For Q4 2026, management expects annualized growth of low-single digits in commercial real estate and construction, mid-single digits in commercial and industrial, and high-single digits in home equity; residential mortgages and deposits are expected to be flat to low-single digits. Expected core conversion costs are approximately $1.0–1.5 million.

1 point · 0 major

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance works How Sentiment works

0 major · 1 point

How the balance works

Positive

Moderate pointQuarterly net income increased 9.67% to $89.7 million.

Negative

Moderate pointNonperforming loans increased to $125.7 million from $103.6 million.

Filing Explained

The CEO says Independent Bank Corp.’s credit quality remained stable, but nonperforming loans rose from 0.56% in Q2 to 0.68% in Q3 and delinquencies from 0.43% to 0.73%; the release also says criticized and classified commercial loans and net charge-offs were consistent with the prior quarter.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Net income: $89.7 million Diluted earnings per share: $1.90 per diluted share Net interest income: $220.7 million +5 more

8 metrics

Net income $89.7 million Third quarter 2026

Diluted earnings per share $1.90 per diluted share Third quarter 2026

Net interest income $220.7 million Third quarter 2026; up $9.7 million from the prior quarter

Net interest margin 3.89% Third quarter 2026; up 4 basis points from the prior quarter

Total deposits $20.5 billion At September 30, 2026

Total loans $18.6 billion At September 30, 2026

Nonperforming loans $125.7 million At September 30, 2026

Quarterly share repurchases Approximately 679,000 shares for $57.4 million Third quarter 2026

Key Terms

Net interest margin, Purchase accounting accretion, Nonperforming loans, Core deposits

4 terms

Net interest margin financial

"net interest margin of 3.89%"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

Purchase accounting accretion financial

"benefit from purchase accounting accretion"

Purchase accounting accretion describes how an acquisition’s required accounting adjustments change a company’s reported earnings per share after the deal. When the purchase price is reallocated to the acquired assets and liabilities, certain items (like tax effects, depreciation or amortization) are recorded differently, and those changes can make reported earnings per share rise over time — showing whether the transaction boosts or dilutes per-share results. Investors use it like checking whether two merged household budgets will increase the amount left over each month after relabeling expenses.

Nonperforming loans financial

"Nonperforming loans increased to $125.7 million"

Nonperforming loans are loans on which borrowers have stopped making the scheduled interest or principal payments for an extended period (commonly 90 days or more) or are otherwise in serious danger of default. Think of them as IOUs that aren’t being repaid: they tie up a lender’s money, reduce future interest income, and force the lender to hold extra reserves or take losses. For investors, a rising share of nonperforming loans signals weakening credit quality, higher potential losses, and greater risk to a bank’s profitability and capital.

Core deposits financial

"Overall core deposits comprised 84.6% of total deposits"

Core deposits are the stable, everyday customer balances a bank keeps—like checking and savings accounts and regular business deposits—that are unlikely to be withdrawn suddenly. Think of them as a household’s paycheck direct-deposits: predictable, low-cost funding the bank can rely on. For investors, a larger share of core deposits means steadier cash available, lower borrowing needs and interest expenses, and therefore more predictable earnings and lower risk.

Earnings Snapshot

Net income: $89.7 million · Guidance included

Third quarter 2026

Net income $89.7 million Up 9.67% from the prior quarter

Diluted earnings per share $1.90 per diluted share Up 11.76% from the prior quarter

Net interest income $220.7 million Up $9.7 million, or 4.6%, from the prior quarter

Net interest margin 3.89% Up 4 basis points from the prior quarter

Guidance

For Q4 2026, management expects low-single-digit annualized growth in commercial real estate and construction, mid-single-digit annualized growth in commercial and industrial, high-single-digit annualized growth in home equity, and flat to low-single-digit annualized growth in residential mortgages and deposits. Assuming no change in rates, reported net interest margin is expected in the low 3.90% range, including an estimated 10 basis point benefit from purchase loan accretion. Core conversion costs are expected to be approximately $1.0–1.5 million.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were INDB’s third-quarter 2026 earnings?

Independent Bank Corp. reported $89.7 million in net income and $1.90 per diluted share for Q3 2026, compared with $81.8 million and $1.70 in Q2 2026. Net interest income was $220.7 million.

What net interest margin does INDB expect in Q4 2026?

Assuming no change in rates, Independent Bank Corp. expects reported net interest margin in the low 3.90% range for Q4 2026, including an estimated 10 basis point benefit from purchase loan accretion.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Available on EDGAR 10/15/2026 - 04:14 PM EDT Accepted by SEC EDGAR 10/15/2026 - 04:14 PM EDT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report Pursuant to Section 13 or 15 (d) of

The Securities and Exchange Act of 1934

DATE OF REPORT:

October 15, 2026

(Date of Earliest Event Reported)

Massachusetts

(State or Other Jurisdiction of Incorporation)


1-9047						04-2870273
(Commission File Number)						(I.R.S. Employer identification No.)

INDEPENDENT BANK CORP.

Office Address:

2036 Washington Street,

Hanover,

Massachusetts

02339

Mailing Address:

288 Union Street,

Rockland,

Massachusetts

02370

(Address of principal executive offices, including zip code)

NOT APPLICABLE

(Former Address of Principal Executive Offices)

(781)-878-6100

(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Securities registered pursuant to Section 12(b) of the Act:
Title of each Class	Trading Symbol	Name of each exchange on which registered
Common Stock, $.01 par value per share	INDB	NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17CFR 230.405)) or Rule 12b-2 of the Exchange Act (17CFR 240.12b-2).


Emerging growth company			☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange

Act. ☐


ITEM 2.02			RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On October 15, 2026 Independent Bank Corp. (the "Company") announced by press release its earnings for the quarter ended September 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1.

The information in this Item 2.02 (including Exhibit 99.1) is being furnished pursuant to Item 2.02 and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section.


ITEM 7.01			REGULATION FD DISCLOSURE

The Company is furnishing presentation materials to be discussed during its earnings conference call which are included as Exhibit 99.2 to this report pursuant to Item 7.01.

The information in this Item 7.01 (including Exhibit 99.2) shall not be deemed to be "filed" for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section.


ITEM 9.01			FINANCIAL STATEMENTS AND EXHIBITS

d. The following exhibits are included with this Report:


Exhibit Index

Exhibit #			Exhibit Description
99.1			Q3 2026 Earnings Press Release dated October 15, 2026
99.2			Q3 2026 Earnings Presentation
101			The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document
104			Cover page interactive data file (formatted as inline XBRL and contained in Exhibit 101)

SIGNATURE

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned and hereunto duly authorized.


			INDEPENDENT BANK CORP.

Date:	October 15, 2026	By:	/s/Mark J. Ruggiero
			MARK J. RUGGIERO
			CHIEF FINANCIAL OFFICER

Exhibit 99.1

Shareholder Relations NEWS RELEASE

288 Union Street

Rockland, Ma. 02370

INDEPENDENT BANK CORP. REPORTS THIRD QUARTER NET INCOME OF $89.7 MILLION

Record Quarterly Earnings and EPS

Rockland, Massachusetts (October 15, 2026) - Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2026 third quarter net income of $89.7 million, or $1.90 per diluted share, as compared to 2026 second quarter net income of $81.8 million, or $1.70 per diluted share.

CEO STATEMENT

“In an operating environment with many moving pieces, our disciplined approach and core fundamentals drove a 12% increase in our diluted earnings per share versus the prior quarter results,” said Jeffrey Tengel, Chief Executive Officer of Independent Bank Corp. and Rockland Trust Company. “I want to thank my colleagues for their steadfast commitment to servicing our customers day in and day out. Our focus on strong community banking drove a 1.42% return on average assets and a 15.43% return on average tangible common equity, as loan and average deposit growth improved, we maintained our net interest margin while growing overall net interest income, credit quality remained stable, expenses were well managed, and we prudently returned excess capital to shareholders.”

FINANCIAL HIGHLIGHTS

•The Company generated a return on average assets and a return on average common equity of 1.42% and 10.13%, respectively, for the third quarter of 2026, as compared to 1.34% and 9.24%, respectively, for the prior quarter.

•The Company repurchased approximately 679,000 shares for $57.4 million during the third quarter of 2026.

•Net interest income increased $9.7 million as compared to the prior quarter.

•The Company’s net interest margin of 3.89% increased 4 basis points compared to the prior quarter, while the adjusted margin remained consistent with the prior quarter at 3.76%(1).

•Deposit balances increased $135.3 million, or 0.7%, to $20.5 billion at September 30, 2026, compared to the prior quarter, with core deposits increasing $232.4 million, or 1.4%, compared to the prior quarter.

•Loan balances of $18.6 billion at September 30, 2026 increased $158.2 million, or 0.9%, compared to the prior quarter.

•Wealth management assets under administration of $9.5 billion at September 30, 2026 increased modestly as compared to June 30, 2026.

•The Company’s third quarter results included $2.2 million in one-time expenses associated with its upcoming core conversion, as compared to $2.1 million of such costs in the prior quarter.

BALANCE SHEET

Total assets of $25.0 billion at September 30, 2026 increased $38.2 million, or 0.2%, compared to the prior quarter.

Total loans of $18.6 billion at September 30, 2026 increased $158.2 million, or 0.9%, compared to the prior quarter:

•The commercial and industrial portfolio grew $49.0 million, or 1.0% (4.1% annualized), despite $11.5 million in runoff attributable to the Company’s strategic exit from the dealer finance business.

•Commercial real estate and construction balances increased $30.8 million, or 0.3%, as robust construction fundings were partially offset by net paydowns of real estate balances.

•The total consumer real estate portfolio increased $80.2 million, or 1.9% (7.6% annualized), fueled by strong home equity demand, with balances up $40.9 million, or 3.0% (12.1% annualized), while residential mortgage balances increased by $39.3 million, or 1.4% (5.4% annualized).

Total deposits increased by $135.3 million, or 0.7%, to $20.5 billion at September 30, 2026, as compared to the prior quarter, while average balances rose by $633.8 million, or 3.2%, for the third quarter:

•Period end deposit growth was fueled primarily by inflows from business and consumer accounts, partially offset by seasonal municipal outflows.

•Overall core deposits comprised 84.6% of total deposits at September 30, 2026, as compared to 84.1% at June 30, 2026.

•Total noninterest bearing demand deposits were 28.1% and 28.0% of total deposits at September 30, 2026 and June 30, 2026, respectively.

•The total cost of deposits rose by 6 basis points to 1.42% as compared to the prior quarter.

Total period end borrowings decreased by $74.3 million, or 10.6%, during the third quarter of 2026, primarily reflecting approximately $100 million in net paydowns on Federal Home Loan Bank borrowings and a $100 million repayment on a working capital line of credit, partially offset by a $125 million term loan advance.

The Company’s total securities portfolio increased by $192.8 million, or 5.8%, to $3.5 billion at September 30, 2026:

•Available for sale purchases totaled $508.2 million during the third quarter and were partially offset by $272.4 million of maturities, calls, and paydowns across the available for sale and held to maturity portfolios during the quarter, as well as $78.4 million of unrealized losses recognized in the available for sale portfolio.

•Total securities represented 14.0% and 13.3% of total assets at September 30, 2026 and June 30, 2026, respectively.

Stockholders’ equity at September 30, 2026 decreased $60.0 million, or 1.7%, compared to June 30, 2026, as strong earnings were offset by the impact of share repurchases, dividends, and unrealized losses on available for sale securities recognized in other comprehensive income during the quarter:

•The Company repurchased approximately 679,000 shares for $57.4 million during the third quarter of 2026 at an average price of $84.60 per share. As of September 30, 2026, the Company had approximately $93 million of remaining repurchase authorization under its previously announced $200 million stock buyback plan adopted as of April 30, 2026.

•The Company’s ratio of common equity to assets of 13.80% at September 30, 2026 represented a decrease of 26 basis points from June 30, 2026.

•The Company’s ratio of tangible common equity to tangible assets of 9.44% at September 30, 2026 represented a decrease of 25 basis points from the prior quarter and a decrease of 31 basis points from the year ago period(1).

•The Company’s book value per share decreased by $0.22, or 0.3%, to $73.54 at September 30, 2026 as compared to the prior quarter, while increasing $2.30 from the year ago period.

•The Company’s tangible book value per share at September 30, 2026 decreased by $0.45, or 0.9%, from the prior quarter to $47.89, and increased by 3.0% from the year ago period(1).

NET INTEREST INCOME

Net interest income of $220.7 million for the third quarter of 2026 increased $9.7 million, or 4.6%, when compared to the prior quarter:

•Average interest-earning assets increased by $514.0 million, as increased deposits were primarily deployed into securities and interest-earning cash.

•The net interest margin of 3.89% increased 4 basis points compared to the prior quarter, as the benefit of asset repricing and a 4 basis point increase in purchase accounting accretion were partially offset by higher deposit costs. Excluding purchase accounting accretion and other non-core items, the adjusted margin of 3.76%(1) remained flat with the prior quarter.

•Total loan yields increased 11 basis points to 5.80% from 5.69%, driven primarily by loan repricing benefit and higher purchase accounting accretion compared to the prior quarter. Excluding purchase accounting accretion and other non-core items, the adjusted loan yield(1) increased 6 basis points during the quarter. Securities yields increased 23 basis points to 3.36% compared to the prior quarter, reflecting the impact of higher-yielding new purchases.

•The Company’s overall cost of funding increased 4 basis points to 1.56% for the third quarter of 2026.

NONINTEREST INCOME

Noninterest income of $41.3 million for the third quarter of 2026 represented a decrease of $1.1 million, or 2.6%, as compared to the prior quarter. Significant changes in noninterest income for the third quarter of 2026 compared to the prior quarter included the following:

•Service charges increased by $555,000, or 5.9%, driven primarily by higher overdraft fees.

•Overall investment and advisory income decreased $463,000, or 3.1%, driven primarily by a decrease in seasonal tax preparation fees compared to the prior quarter. Total assets under administration of $9.5 billion increased by $35.8 million, or 0.4%, as of September 30, 2026 compared to June 30, 2026.

•Mortgage banking income decreased by $243,000, or 20.7%, reflecting decreased saleable volume.

•The Company received proceeds on life insurance policies resulting in gains of $180,000 and $672,000 for the quarters ended September 30, 2026 and June 30, 2026, respectively.

•Loan level derivative income decreased by $518,000, or 39.3%, due primarily to lower demand.

NONINTEREST EXPENSE

Noninterest expense of $138.4 million for the third quarter of 2026 represented a decrease of $1.9 million, or 1.3%, as compared to the prior quarter. Significant changes in noninterest expense for the third quarter of 2026 compared to the prior quarter included the following:

•Salaries and employee benefits increased by $1.3 million, or 1.7%, driven primarily by increased incentive compensation and retirement benefit costs, partially offset by decreased split dollar insurance valuations and medical plan insurance expense.

•Occupancy and equipment expenses decreased by $339,000, or 2.1%, driven primarily by decreases in general maintenance costs, partially offset by increases in office equipment expenses.

•FDIC assessment decreased by $623,000, or 19.7%, reflecting the benefit of a lower assessment rate.

•Other noninterest expense decreased by $1.5 million, or 4.6%, driven primarily by decreases in director equity compensation of $916,000, fraud losses of $579,000, and loan workout costs of $300,000. Other noninterest expense for the third quarter was inclusive of $2.2 million in one-time costs associated with the Company’s upcoming core conversion, as compared to $2.1 million of such costs in the prior quarter.

TAX RATE

The Company’s quarterly effective tax rate remained consistent at 23.31% for the third quarter of 2026, compared to 23.37% for the prior quarter.

ASSET QUALITY

During the third quarter, the Company’s key asset quality activity and metrics were as follows:

•Nonperforming loans increased to $125.7 million at September 30, 2026, as compared to $103.6 million at June 30, 2026, representing 0.68% and 0.56% of total loans, respectively. The increase was driven primarily by one office real estate loan.

•The third quarter provision for credit losses was $6.5 million, as compared to $6.3 million for the prior quarter, driven primarily by a specific reserve allocation on one office real estate loan that migrated to nonperforming status during the quarter.

•Net charge-offs of $1.2 million, representing 0.02% of average loans annualized, remained consistent with the prior quarter.

•Total criticized and classified commercial loans of $550.9 million, or 3.9% of total commercial loans, remained consistent with the prior quarter.

•The allowance for credit losses on total loans increased to $201.2 million at September 30, 2026, compared to $195.9 million at June 30, 2026, and represented 1.08% and 1.06% of total loans at September 30, 2026 and June 30, 2026, respectively.

•Delinquencies as a percentage of total loans increased 30 basis points from the prior quarter to 0.73% at September 30, 2026.

(1)Represents a non-GAAP measure. See Appendices A through C for reconciliation of the corresponding GAAP measures.

CONFERENCE CALL INFORMATION

Jeffrey Tengel, President and Chief Executive Officer, and Mark Ruggiero, Chief Financial Officer and Executive Vice President of Consumer Lending, will host a conference call to discuss third quarter earnings at 10:00 a.m. Eastern Time on Friday, October 16, 2026.

Participants may join the webcast by registering prior to the call via this link: https://events.q4inc.com/attendee/687573325. A replay of the webcast will be made available on the Company’s website at https://indb.rocklandtrust.com by selecting Third Quarter 2026 Earnings Call. The webcast replay will be available until October 16, 2027.

ABOUT INDEPENDENT BANK CORP.

Independent Bank Corp. (Nasdaq Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. With retail branches in Eastern Massachusetts, Worcester County, and Southern New Hampshire, as well as commercial banking and investment management offices in Massachusetts, New Hampshire, and Rhode Island, Rockland Trust offers a wide range of banking, investment, and insurance services to individuals, families, and businesses. Rockland Trust also offers a full suite of mobile, online, and telephone banking services. Rockland Trust is an FDIC member and an Equal Housing Lender.

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations and business of the Company. These statements may be identified by such forward-looking terminology as “expect,” “achieve,” “plan,” “believe,” “future,” “positioned,” “continued,” “will,” “would,” “potential,” or similar statements or variations of such terms. Actual results may differ from those contemplated by these forward-looking statements.

Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to:

•adverse economic conditions in the regional and local economies within the New England region and the Company’s market area;

•events impacting the financial services industry, including high profile bank failures, and any resulting decreased confidence in banks among depositors, investors, and other counterparties, as well as competition for deposits and significant disruption, volatility and depressed valuations of equity and other securities of banks in the capital markets;

•the effects to the Company of an increasingly competitive labor market, including the possibility that the Company will have to devote significant resources to attract and retain qualified personnel;

•political and policy uncertainties, changes in U.S. and international trade policies, such as tariffs or other factors, and the potential impact of such factors on the Company and its customers, including the potential for decreases in deposits and loan demand, unanticipated loan delinquencies, loss of collateral and decreased service revenues;

•the instability or volatility in financial markets and unfavorable domestic or global general economic, political or business conditions, including international conflicts and hostilities, such as the ongoing conflict involving Israel, the U.S. and Iran;

•unanticipated loan delinquencies, loss of collateral, decreased service revenues, and other potential negative effects on the Company’s local economies or the Company’s business caused by adverse weather conditions and natural disasters, changes in climate, public health crises or other external events and any actions taken by governmental authorities in response to any such events;

•adverse changes or volatility in the local real estate market, including limitations on rent growth, increases in operating expenses, reductions in property cash flows, reductions in collateral values, and decreased investor demand, which may be exacerbated by legislative or regulatory actions such as rent control or tenant protection laws;

•changes in interest rates and any resulting impact on interest earning assets and/or interest bearing liabilities, the level of voluntary prepayments on loans and the receipt of payments on mortgage-backed securities, decreased loan demand or increased difficulty in the ability of borrowers to repay variable rate loans;

•risks related to the Company’s acquisition activities, including disruption to current plans and operations; difficulties in customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated; impairment of goodwill and/or other intangibles; and the Company’s inability to achieve expected revenues, cost savings, synergies, and other benefits at levels or within the timeframes originally anticipated;

•the effect of laws, regulations, new requirements or expectations, or additional regulatory oversight in the highly regulated financial services industry, and the resulting need to invest in technology to meet heightened regulatory expectations, increased costs of compliance or required adjustments to strategy;

•changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System;

•higher than expected tax expense, including as a result of failure to comply with general tax laws and changes in tax laws;

•increased competition in the Company’s market areas, including competition that could impact deposit gathering, retention of deposits and the cost of deposits, increased competition due to the demand for innovative products and service offerings, and competition from non-depository institutions which may be subject to fewer regulatory constraints and lower cost structures;

•a deterioration in the conditions of the securities markets;

•a deterioration of the credit rating for U.S. long-term sovereign debt or uncertainties surrounding the federal budget;

•inability to adapt to changes in information technology, including changes to industry accepted delivery models driven by a migration to the internet as a means of service delivery, including any inability to effectively implement new technology-driven products, such as artificial intelligence (“AI”);

•electronic or other fraudulent activity within the financial services industry, especially in the commercial banking sector;

•adverse changes in consumer spending and savings habits;

•the effect of laws and regulations regarding the financial services industry, including the need to invest in technology to meet heightened regulatory expectations or the introduction of new requirements or expectations resulting in increased costs of compliance or required adjustments to strategy;

•changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) generally applicable to the Company’s business and the associated costs of such changes;

•the Company’s potential judgments, claims, damages, penalties, fines and reputational damage resulting from pending or future litigation and regulatory and government actions and the adequacy of the Company’s reserves and insurance coverage for legal matters;

•changes in accounting policies, practices and standards, as may be adopted by the regulatory agencies as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board, and other accounting standard setters;

•operational risks related to the Company and its customers’ reliance on information technology; cyber threats, attacks, intrusions, and fraud; and outages or other issues impacting the Company or its third party

service providers which could lead to interruptions or disruptions of the Company’s operating systems, including systems that are customer facing, and adversely impact the Company’s business; including the Company’s ability to successfully complete and integrate its core system conversion and to do so within the anticipated timeframe, including its reliance on third-party providers in connection with that conversion, as well as its ability to effectively manage any related operational disruptions, customer impacts, data conversion issues, or related internal control issues;

•risks related to the development and use of AI by the Company, its third-party vendors, clients and counterparties; and

•any unexpected material adverse changes in the Company’s operations or earnings.

The Company cautions readers not to place undue reliance on any forward-looking statements as the Company’s business and its forward-looking statements involve substantial known and unknown risks and uncertainties described above and in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q (“Risk Factors”). Except as required by law, the Company disclaims any intent or obligation to update publicly any such forward-looking statements, whether in response to new information, future events or otherwise. Any public statements or disclosures by the Company following this release which modify or impact any of the forward-looking statements contained in this release will be deemed to modify or supersede such statements in this release. In addition to the information set forth in this press release, you should carefully consider the Risk Factors.

This press release and the appendices attached to it contain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). This information may include operating net income and operating earnings per share (“EPS”), operating return on average assets, operating return on average common equity, operating return on average tangible common equity, adjusted net interest margin (“adjusted margin”) and the associated adjusted loan yield (which is calculated by dividing annualized interest income on loans, plus or minus non-core or other adjustments, by average loans), tangible book value per share and the tangible common equity ratio.

Operating net income, operating EPS, operating return on average assets, and operating return on average common equity exclude items that management believes are unrelated to the Company’s core banking business such as merger and acquisition expenses, and other items, if applicable. Management uses operating net income and related ratios and operating EPS to measure the strength of the Company’s core banking business and to identify trends that may to some extent be obscured by such items. Management reviews its adjusted margin and adjusted loan yield to determine any items that may impact these metrics that may be one-time in nature or not reflective of the core operating environment, such as significant purchase accounting adjustments or other adjustments such as nonaccrual interest reversals/recoveries and prepayment penalties. Management believes that adjusting for these items to arrive at an adjusted margin and adjusted loan yield provides additional insight into the operating environment and how management decisions impact the net interest margin.

Management also supplements its evaluation of financial performance with analysis of tangible book value per share (which is computed by dividing stockholders’ equity less goodwill and identifiable intangible assets, or “tangible common equity,” by common shares outstanding), the tangible common equity ratio (which is computed by dividing tangible common equity by “tangible assets,” defined as total assets less goodwill and other intangibles), and return on average tangible common equity (which is computed by dividing net income by average tangible common equity). The Company has included information on tangible book value per share, the tangible common equity ratio and return on average tangible common equity because management believes that investors may find it useful to have access to the same analytical tools used by management. As a result of merger and acquisition activity, the Company has recognized goodwill and other intangible assets in conjunction with business combination accounting principles. Excluding the impact of goodwill and other intangibles in measuring asset and capital values for the ratios provided, along with other bank standard capital ratios, provides a framework to compare the capital adequacy of the Company to other companies in the financial services industry.

These non-GAAP measures should not be viewed as a substitute for operating results and other financial measures determined in accordance with GAAP. An item which management excludes when computing these non-GAAP measures can be of substantial importance to the Company’s results for any particular quarter or year. The Company’s non-GAAP performance measures, including operating net income, operating EPS, operating return on average assets, operating return on average common equity, adjusted margin and associated adjusted loan yield, tangible book value per share and the tangible common equity ratio, are not necessarily comparable to non-GAAP performance measures which may be presented by other companies.

Contacts:

Jeffrey Tengel

President and Chief Executive Officer

(781) 982-6144

Mark J. Ruggiero

Chief Financial Officer and

Executive Vice President of Consumer Lending

(781) 982-6281

Investor Relations:

Gerry Cronin

Director of Investor Relations

(774) 363-9872

Gerard.Cronin@rocklandtrust.com

Category: Earnings Releases


INDEPENDENT BANK CORP. FINANCIAL SUMMARY
CONSOLIDATED BALANCE SHEETS
(Unaudited, dollars in thousands)							% Change		% Change
	September 30 2026		June 30 2026		September 30 2025		Sept 2026 vs.		Sept 2026 vs.
							Jun 2026		Sept 2025
Assets
Cash and due from banks	$	244,167	$	251,971	$	203,388	(3.10)	%	20.05	%
Interest-earning deposits with banks	415,213		749,255		707,408		(44.58)	%	(41.31)	%
Securities
Trading	4,897		4,835		4,611		1.28	%	6.20	%
Equities	21,315		21,602		21,567		(1.33)	%	(1.17)	%
Available for sale	2,316,597		2,075,972		1,941,220		11.59	%	19.34	%
Held to maturity	1,162,758		1,210,310		1,357,617		(3.93)	%	(14.35)	%
Total securities	3,505,567		3,312,719		3,325,015		5.82	%	5.43	%
Loans held for sale	10,865		21,982		17,052		(50.57)	%	(36.28)	%
Loans
Commercial and industrial	4,779,871		4,730,827		4,532,294		1.04	%	5.46	%
Commercial real estate	7,859,681		7,944,099		8,241,458		(1.06)	%	(4.63)	%
Commercial construction	1,579,695		1,464,449		1,439,876		7.87	%	9.71	%
Total commercial	14,219,247		14,139,375		14,213,628		0.56	%	0.04	%
Residential real estate	2,909,596		2,870,277		2,917,101		1.37	%	(0.26)	%
Home equity	1,383,719		1,342,797		1,284,139		3.05	%	7.75	%
Total consumer real estate	4,293,315		4,213,074		4,201,240		1.90	%	2.19	%
Other consumer	40,014		41,878		37,575		(4.45)	%	6.49	%
Total loans	18,552,576		18,394,327		18,452,443		0.86	%	0.54	%
Less: allowance for credit losses	(201,238)		(195,899)		(190,476)		2.73	%	5.65	%
Net loans	18,351,338		18,198,428		18,261,967		0.84	%	0.49	%
Federal Home Loan Bank stock	9,527		13,631		21,835		(30.11)	%	(56.37)	%
Bank premises and equipment, net	218,521		217,877		221,165		0.30	%	(1.20)	%
Goodwill	1,090,610		1,090,610		1,090,610		—	%	—	%
Other intangible assets	113,668		119,896		140,632		(5.19)	%	(19.17)	%
Cash surrender value of life insurance policies	383,634		381,230		376,163		0.63	%	1.99	%

Other assets	668,989		616,295		628,004		8.55	%	6.53	%
Total assets	$	25,012,099	$	24,973,894	$	24,993,239	0.15	%	0.08	%
Liabilities and Stockholders’ Equity
Deposits
Noninterest-bearing demand deposits	$	5,760,506	$	5,709,647	$	5,635,911	0.89	%	2.21	%
Savings and interest checking	6,450,241		6,503,521		6,492,791		(0.82)	%	(0.66)	%
Money market	5,164,326		4,929,495		4,747,179		4.76	%	8.79	%
Time certificates of deposit	3,152,352		3,249,455		3,419,988		(2.99)	%	(7.83)	%
Total deposits	20,527,425		20,392,118		20,295,869		0.66	%	1.14	%
Borrowings
Federal Home Loan Bank and other borrowings	117,246		216,719		416,240		(45.90)	%	(71.83)	%


Line of credit, net	—		124,984		—		(100.00)	%	nm
Long-term borrowings, net	149,938		—		—		100.00%		100.00%
Junior subordinated debentures, net	62,864		62,864		62,862		—	%	—	%
Subordinated debentures, net	297,106		296,898		296,275		0.07	%	0.28	%
Total borrowings	627,154		701,465		775,377		(10.59)	%	(19.12)	%
Total deposits and borrowings	21,154,579		21,093,583		21,071,246		0.29	%	0.40	%
Other liabilities	405,184		367,948		375,106		10.12	%	8.02	%
Total liabilities	21,559,763		21,461,531		21,446,352		0.46	%	0.53	%
Stockholders’ equity
Common stock	467		473		495		(1.27)	%	(5.66)	%


Additional paid in capital	2,146,353		2,201,250		2,371,111		(2.49)	%	(9.48)	%
Retained earnings	1,429,011		1,369,306		1,222,843		4.36	%	16.86	%
Accumulated other comprehensive loss, net of tax	(123,495)		(58,666)		(47,562)		110.51	%	159.65	%
Total stockholders’ equity	3,452,336		3,512,363		3,546,887		(1.71)	%	(2.67)	%
Total liabilities and stockholders’ equity	$	25,012,099	$	24,973,894	$	24,993,239	0.15	%	0.08	%


CONSOLIDATED STATEMENTS OF INCOME
(Unaudited, dollars in thousands, except per share data)
	Three Months Ended
							% Change		% Change
	September 30 2026		June 30 2026		September 30 2025		Sept 2026 vs.		Sept 2026 vs.
							Jun 2026		Sept 2025
Interest income
Interest on federal funds sold and short-term investments	$	6,021	$	2,633	$	7,245	128.67	%	(16.89)	%
Interest and dividends on securities	29,591		26,200		23,511		12.94	%	25.86	%
Interest and fees on loans	268,527		260,249		263,772		3.18	%	1.80	%
Interest on loans held for sale	251		210		225		19.52	%	11.56	%
Total interest income	304,390		289,292		294,753		5.22	%	3.27	%
Interest expense
Interest on deposits	73,584		67,641		80,739		8.79	%	(8.86)	%
Interest on borrowings	10,145		10,724		10,670		(5.40)	%	(4.92)	%
Total interest expense	83,729		78,365		91,409		6.84	%	(8.40)	%
Net interest income	220,661		210,927		203,344		4.61	%	8.52	%
Provision for credit losses	6,500		6,250		38,519		4.00	%	(83.13)	%
Net interest income after provision for credit losses	214,161		204,677		164,825		4.63	%	29.93	%
Noninterest income
Deposit account fees	9,948		9,393		8,847		5.91	%	12.44	%
Interchange and ATM fees	5,719		5,686		5,989		0.58	%	(4.51)	%
Investment management and advisory	14,498		14,961		13,652		(3.09)	%	6.20	%
Mortgage banking income	931		1,174		1,444		(20.70)	%	(35.53)	%
Increase in cash surrender value of life insurance policies	2,739		2,636		2,629		3.91	%	4.18	%
Gain on life insurance benefits	180		672		—		(73.21)	%	100.00%


Loan level derivative income	799		1,317		1,224		(39.33)	%	(34.72)	%
Other noninterest income	6,473		6,552		6,613		(1.21)	%	(2.12)	%
Total noninterest income	41,287		42,391		40,398		(2.60)	%	2.20	%
Noninterest expenses
Salaries and employee benefits	80,408		79,088		81,132		1.67	%	(0.89)	%
Occupancy and equipment expenses	15,831		16,170		14,975		(2.10)	%	5.72	%
Data processing and facilities management	3,035		3,208		2,788		(5.39)	%	8.86	%
FDIC assessment	2,535		3,158		3,080		(19.73)	%	(17.69)	%
Amortization of intangible assets	6,227		6,791		7,315		(8.31)	%	(14.87)	%
Merger and acquisition expense	—		—		23,893		nm		(100.00)	%






Other noninterest expenses	30,384		31,857		27,653		(4.62)	%	9.88	%
Total noninterest expenses	138,420		140,272		160,836		(1.32)	%	(13.94)	%
Income before income taxes	117,028		106,796		44,387		9.58	%	163.65	%
Provision for income taxes	27,279		24,958		10,125		9.30	%	169.42	%
Net Income	$	89,749	$	81,838	$	34,262	9.67	%	161.95	%

Weighted average common shares (basic)	47,229,350		48,054,411		49,934,574


Common share equivalents	27,262			22,344			22,433
Weighted average common shares (diluted)	47,256,612			48,076,755			49,957,007

Basic earnings per share	$	1.90		$	1.70		$	0.69		11.76	%	175.36	%
Diluted earnings per share	$	1.90		$	1.70		$	0.69		11.76	%	175.36	%

Reconciliation of Net Income (GAAP) to Operating Net Income (Non-GAAP):
Net income	$	89,749		$	81,838		$	34,262
Provision for non-PCD acquired loans	—			—			34,519



Noninterest expense components



Add - merger and acquisition expenses	—			—			23,893

Noncore increases to income before taxes	—			—			58,412
Net taxes associated with noncore items (1)	—			—			(15,320)




Noncore increases to net income	—			—			43,092
Operating net income (Non-GAAP)	$	89,749		$	81,838		$	77,354		9.67	%	16.02	%

Diluted earnings per share, on an operating basis (Non-GAAP)	$	1.90		$	1.70		$	1.55		11.76	%	22.58	%

(1) The net taxes associated with noncore items is determined by assessing whether each noncore item is included or excluded from net taxable income and applying the Company’s combined marginal tax rate to only those items included in net taxable income.

Performance ratios
Net interest margin (FTE)	3.89		%	3.85		%	3.62		%
Return on average assets (calculated by dividing annualized net income by average assets) (GAAP)	1.42		%	1.34		%	0.55		%
Return on average assets on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average assets)	1.42		%	1.34		%	1.23		%
Return on average common equity (calculated by dividing annualized net income by average common equity) (GAAP)	10.13		%	9.24		%	3.82		%
Return on average common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average common equity)	10.13		%	9.24		%	8.63		%
Return on average tangible common equity (Non-GAAP) (calculated by dividing annualized net income by average tangible common equity)	15.43		%	14.05		%	5.85		%
Return on average tangible common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average tangible common equity)	15.43		%	14.05		%	13.22		%
Noninterest income as a % of total revenue (GAAP) (calculated by dividing total noninterest income by net interest income plus total noninterest income)	15.76		%	16.73		%	16.57		%
Noninterest income as a % of total revenue on an operating basis (Non-GAAP) (calculated by dividing total noninterest income on an operating basis by net interest income plus total noninterest income)	15.76		%	16.73		%	16.57		%
Efficiency ratio (GAAP) (calculated by dividing total noninterest expense by total revenue)	52.84		%	55.37		%	65.99		%
Efficiency ratio on an operating basis (Non-GAAP) (calculated by dividing total noninterest expense on an operating basis by total revenue)	52.84		%	55.37		%	56.18		%


CONSOLIDATED STATEMENTS OF INCOME
(Unaudited, dollars in thousands, except per share data)
	Nine Months Ended
					% Change
	September 30 2026		September 30 2025		Sept 2026 vs.
					Sept 2025

Interest income
Interest on federal funds sold and short-term investments	$	12,311	$	13,076	(5.85)	%
Interest and dividends on securities	81,165		54,689		48.41	%
Interest and fees on loans	789,758		656,643		20.27	%
Interest on loans held for sale	713		457		56.02	%
Total interest income	883,947		724,865		21.95	%
Interest expense
Interest on deposits	208,160		200,018		4.07	%
Interest on borrowings	31,739		28,502		11.36	%
Total interest expense	239,899		228,520		4.98	%
Net interest income	644,048		496,345		29.76	%
Provision for credit losses	18,250		60,719		(69.94)	%
Net interest income after provision for credit losses	625,798		435,626		43.65	%
Noninterest income
Deposit account fees	28,590		23,041		24.08	%
Interchange and ATM fees	16,423		15,608		5.22	%
Investment management and advisory	43,624		36,252		20.34	%
Mortgage banking income	3,375		3,257		3.62	%
Increase in cash surrender value of life insurance policies	8,087		6,732		20.13	%
Gain on life insurance benefits	1,198		1,650		(27.39)	%


Loan level derivative income	3,026		2,332		29.76	%
Other noninterest income	19,616		18,373		6.77	%
Total noninterest income	123,939		107,245		15.57	%
Noninterest expenses
Salaries and employee benefits	240,233		205,919		16.66	%
Occupancy and equipment expenses	49,307		41,992		17.42	%
Data processing and facilities management	9,502		8,213		15.69	%
FDIC assessment	9,021		8,441		6.87	%






Amortization of intangible assets	19,908		9,856		101.99	%
Merger and acquisition expense	3,024		27,287		(88.92)	%
Other noninterest expenses	90,615		73,804		22.78	%
Total noninterest expenses	421,610		375,512		12.28	%
Income before income taxes	328,127		167,359		96.06	%
Provision for income taxes	76,621		37,572		103.93	%
Net Income	$	251,506	$	129,787	93.78	%

Weighted average common shares (basic)	48,078,231		45,063,324
Common share equivalents	26,430		20,646
Weighted average common shares (diluted)	48,104,661		45,083,970

Basic earnings per share	$	5.23	$	2.88	81.60	%
Diluted earnings per share	$	5.23	$	2.88	81.60	%

Reconciliation of Net Income (GAAP) to Operating Net Income (Non-GAAP):
Net Income	$	251,506	$	129,787
Provision for non-PCD acquired loans	—		34,519




Noninterest expense components




Add - merger and acquisition expenses	3,024		27,287


Noncore increases to income before taxes	3,024			61,806
Net taxes associated with noncore items (1)	(830)			(15,913)


Add - adjustment for tax effect of previously incurred merger and acquisition expenses	—			381
Total tax impact	(830)			(15,532)
Noncore increases to net income	2,194			46,274
Operating net income (Non-GAAP)	$	253,700		$	176,061		44.10	%

Diluted earnings per share, on an operating basis (Non-GAAP)	$	5.27		$	3.91		34.78	%

(1) The net taxes associated with noncore items is determined by assessing whether each noncore item is included or excluded from net taxable income and applying the Company’s combined marginal tax rate to only those items included in net taxable income.

Performance ratios
Net interest margin (FTE)	3.88		%	3.49		%
Return on average assets (GAAP) (calculated by dividing net income by average assets)	1.36		%	0.81		%
Return on average assets on an operating basis (Non-GAAP) (calculated by dividing operating net income by average assets)	1.37		%	1.10		%
Return on average common equity (GAAP) (calculated by dividing net income by average common equity)	9.47		%	5.39		%
Return on average common equity on an operating basis (Non-GAAP) (calculated by dividing operating net income by average common equity)	9.55		%	7.31		%
Return on average tangible common equity (Non-GAAP) (calculated by dividing net income by average tangible common equity)	14.38		%	8.09		%
Return on average tangible common equity on an operating basis (Non-GAAP) (calculated by dividing operating net income by average tangible common equity)	14.51		%	10.98		%
Noninterest income as a % of total revenue (GAAP) (calculated by dividing total noninterest income by net interest income plus total noninterest income)	16.14		%	17.77		%
Noninterest income as a % of total revenue on an operating basis (Non-GAAP) (calculated by dividing total noninterest income on an operating basis by net interest income plus total noninterest income)	16.14		%	17.77		%
Efficiency ratio (GAAP) (calculated by dividing total noninterest expense by total revenue)	54.90		%	62.21		%
Efficiency ratio on an operating basis (Non-GAAP) (calculated by dividing total noninterest expense on an operating basis by total revenue)	54.50		%	57.69		%

nm = not meaningful


ASSET QUALITY
(Unaudited, dollars in thousands)	Nonperforming Assets At
	September 30 2026			June 30 2026			September 30 2025
Nonperforming loans
Commercial & industrial loans	$	10,886		$	9,204		$	23,173
Commercial real estate loans	85,314			64,544			29,216
Commercial construction loans	2,569			2,925			15,516
Residential real estate loans	21,684			20,305			14,406
Home equity	5,249			6,648			4,244
Other consumer	12			16			42
Total nonperforming loans	125,714			103,642			86,597


Other real estate owned	455			206			2,100
Total nonperforming assets	$	126,169		$	103,848		$	88,697

Nonperforming loans/gross loans	0.68		%	0.56		%	0.47		%
Nonperforming assets/total assets	0.50		%	0.42		%	0.35		%
Allowance for credit losses/nonperforming loans	160.08		%	189.02		%	219.96		%
Allowance for credit losses/total loans	1.08		%	1.06		%	1.03		%
Delinquent loans/total loans	0.73		%	0.43		%	0.49		%

	Nonperforming Assets Reconciliation for the Three Months Ended
	September 30 2026			June 30 2026			September 30 2025

Nonperforming assets beginning balance	$	103,848		$	98,743		$	58,317
Enterprise nonperforming assets at July 1, 2025	—			—			24,487
New to nonperforming	31,105			28,377			16,767
Loans charged-off	(1,716)			(1,865)			(2,670)
Loans paid-off	(6,542)			(18,701)			(6,983)
Loans transferred to other real estate owned	(250)			—			—
Loans restored to performing status	(629)			(831)			(1,404)
New to other real estate owned	250			206			—


Sale of other real estate owned	—			(2,100)			—


Other	103			19			183
Nonperforming assets ending balance	$	126,169		$	103,848		$	88,697


	Net Charge-Offs (Recoveries)
	Three Months Ended									Nine Months Ended
	September 30 2026			June 30 2026			September 30 2025			September 30 2026			September 30 2025
Net charge-offs (recoveries)
Commercial and industrial loans	$	228		$	464		$	1,178		$	1,003		$	4,123
Commercial real estate loans	—			58			21			4,092			43,364
Commercial construction	498			—			—			498			—

Home equity	(12)			(43)			(12)			(67)			17
Other consumer	447			432			649			1,363			1,743
Total net charge-offs	$	1,161		$	911		$	1,836		$	6,889		$	49,247

Net charge-offs to average loans (annualized)	0.02		%	0.02		%	0.04		%	0.05		%	0.42		%


BALANCE SHEET AND CAPITAL RATIOS
	September 30 2026			June 30 2026			September 30 2025
Gross loans/total deposits	90.38		%	90.20		%	90.92		%
Common equity tier 1 capital ratio (1)	12.69		%	12.81		%	12.84		%
Tier 1 leverage capital ratio (1)	10.01		%	10.20		%	10.11		%
Common equity to assets ratio GAAP	13.80		%	14.06		%	14.19		%
Tangible common equity to tangible assets ratio (2)	9.44		%	9.69		%	9.75		%
Book value per share GAAP	$	73.54		$	73.76		$	71.24
Tangible book value per share (2)	$	47.89		$	48.34		$	46.51

(1) Estimated number for September 30, 2026.

(2) See Appendix A for detailed reconciliation from GAAP to Non-GAAP ratios.


INDEPENDENT BANK CORP. SUPPLEMENTAL FINANCIAL INFORMATION

(Unaudited, dollars in thousands)	Three Months Ended
	September 30, 2026						June 30, 2026						September 30, 2025
			Interest						Interest						Interest
	Average		Earned/		Yield/		Average		Earned/		Yield/		Average		Earned/		Yield/
	Balance		Paid (1)		Rate		Balance		Paid (1)		Rate		Balance		Paid (1)		Rate
Interest-earning assets
Interest-earning deposits with banks, federal funds sold, and short term investments	$	662,081	$	6,021	3.61	%	$	304,850	$	2,633	3.46	%	$	688,394	$	7,245	4.18	%
Securities
Securities - trading	4,990		—		—	%	5,549		—		—	%	4,613		—		—	%
Securities - taxable investments	3,479,239		29,492		3.36	%	3,344,236		26,098		3.13	%	3,253,928		23,303		2.84	%
Securities - nontaxable investments (1)	9,942		126		5.03	%	10,334		129		5.01	%	34,803		263		3.00	%
Total securities	$	3,494,171	$	29,618	3.36	%	$	3,360,119	$	26,227	3.13	%	$	3,293,344	$	23,566	2.84	%
Loans held for sale	17,536		251		5.68	%	15,109		210		5.57	%	15,632		225		5.71	%
Loans
Commercial and industrial (1)	4,739,532		74,833		6.26	%	4,684,134		72,323		6.19	%	4,485,053		70,869		6.27	%
Commercial real estate (1)	7,914,965		113,376		5.68	%	8,096,126		111,044		5.50	%	8,270,774		112,855		5.41	%
Commercial construction (1)	1,532,316		25,710		6.66	%	1,455,154		24,051		6.63	%	1,446,615		24,750		6.79	%
Total commercial	14,186,813		213,919		5.98	%	14,235,414		207,418		5.84	%	14,202,442		208,474		5.82	%
Residential real estate	2,886,974		34,569		4.75	%	2,849,629		33,774		4.75	%	2,913,749		34,813		4.74	%
Home equity	1,361,625		20,873		6.08	%	1,327,930		19,847		5.99	%	1,275,945		21,173		6.58	%
Total consumer real estate	4,248,599		55,442		5.18	%	4,177,559		53,621		5.15	%	4,189,694		55,986		5.30	%
Other consumer	39,904		618		6.14	%	42,086		667		6.36	%	40,726		644		6.27	%
Total loans	$	18,475,316	$	269,979	5.80	%	$	18,455,059	$	261,706	5.69	%	$	18,432,862	$	265,104	5.71	%
Total interest-earning assets	$	22,649,104	$	305,869	5.36	%	$	22,135,137	$	290,776	5.27	%	$	22,430,232	$	296,140	5.24	%
Cash and due from banks	243,098						226,735						214,626
Federal Home Loan Bank stock	13,051						16,942						22,206
Other assets	2,205,241						2,196,868						2,263,385
Total assets	$	25,110,494					$	24,575,682					$	24,930,449
Interest-bearing liabilities
Deposits
Savings and interest checking accounts	$	6,502,323	$	17,517	1.07	%	$	6,318,590	$	16,121	1.02	%	$	6,333,611	$	18,927	1.19	%
Money market	5,133,027		29,370		2.27	%	4,830,122		25,328		2.10	%	4,749,763		30,019		2.51	%
Time deposits	3,204,614		26,697		3.31	%	3,231,355		26,192		3.25	%	3,466,139		31,793		3.64	%
Total interest-bearing deposits	$	14,839,964	$	73,584	1.97	%	$	14,380,067	$	67,641	1.89	%	$	14,549,513	$	80,739	2.20	%
Borrowings
Federal Home Loan Bank and other borrowings	200,435		1,888		3.74	%	296,624		2,780		3.76	%	416,074		3,946		3.76	%


Line of Credit	123,904		1,700		5.44	%	104,096		1,423		5.48	%	—		—		—	%
Long-term borrowings	1,359		20		5.84	%	—		—		—	%	—		—		—	%
Junior subordinated debentures	62,864		892		5.63	%	62,863		876		5.59	%	62,861		981		6.19	%
Subordinated debentures	296,995		5,645		7.54	%	296,778		5,645		7.63	%	305,280		5,743		7.46	%
Total borrowings	$	685,557	$	10,145	5.87	%	$	760,361	$	10,724	5.66	%	$	784,215	$	10,670	5.40	%
Total interest-bearing liabilities	$	15,525,521	$	83,729	2.14	%	$	15,140,428	$	78,365	2.08	%	$	15,333,728	$	91,409	2.37	%


Noninterest-bearing demand deposits	5,726,231						5,552,302						5,699,765
Other liabilities	344,041						332,250						339,116
Total liabilities	$	21,595,793					$	21,024,980					$	21,372,609
Stockholders’ equity	3,514,701						3,550,702						3,557,840
Total liabilities and stockholders’ equity	$	25,110,494					$	24,575,682					$	24,930,449

Net interest income			$	222,140					$	212,411					$	204,731

Interest rate spread (2)					3.22	%					3.19	%					2.87	%

Net interest margin (3)					3.89	%					3.85	%					3.62	%

Supplemental Information
Total deposits, including demand deposits	$	20,566,195	$	73,584			$	19,932,369	$	67,641			$	20,249,278	$	80,739
Cost of total deposits					1.42	%					1.36	%					1.58	%
Total funding liabilities, including demand deposits	$	21,251,752	$	83,729			$	20,692,730	$	78,365			$	21,033,493	$	91,409
Cost of total funding liabilities					1.56	%					1.52	%					1.72	%

(1) The total amount of adjustment to present interest income and yield on a fully tax-equivalent basis was $1.5 million for each of the three months ended September 30, 2026 and June 30, 2026, respectively, and $1.4 million for the three months ended September 30, 2025, determined by applying the Company’s marginal tax rates in effect during each respective quarter.
(2) Interest rate spread represents the difference between weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
(3) Net interest margin represents annualized net interest income as a percentage of average interest-earning assets.


	Nine Months Ended
	September 30, 2026						September 30, 2025
			Interest						Interest
	Average		Earned/		Yield/		Average		Earned/		Yield/
	Balance		Paid		Rate		Balance		Paid		Rate
Interest-earning assets
Interest earning deposits with banks, federal funds sold, and short term investments	$	461,724	$	12,311	3.56	%	$	413,974	$	13,076	4.22	%
Securities
Securities - trading	5,215		—		—	%	4,641		—		—	%
Securities - taxable investments	3,383,473		80,850		3.19	%	2,914,567		54,478		2.50	%
Securities - nontaxable investments (1)	10,631		399		5.02	%	11,858		266		3.00	%
Total securities	$	3,399,319	$	81,249	3.20	%	$	2,931,066	$	54,744	2.50	%
Loans held for sale	17,373		713		5.49	%	10,656		457		5.73	%
Loans
Commercial and industrial (1)	4,676,906		217,582		6.22	%	3,704,506		173,050		6.25	%
Commercial real estate (1)	8,082,586		336,886		5.57	%	7,254,708		286,037		5.27	%
Commercial construction (1)	1,464,385		73,687		6.73	%	1,016,344		51,683		6.80	%
Total commercial	14,223,877		628,155		5.90	%	11,975,558		510,770		5.70	%
Residential real estate	2,864,503		103,846		4.85	%	2,618,320		90,608		4.63	%
Home equity	1,330,144		60,149		6.05	%	1,192,583		57,091		6.40	%
Total consumer real estate	4,194,647		163,995		5.23	%	3,810,903		147,699		5.18	%
Other consumer	41,913		1,949		6.22	%	38,406		1,819		6.33	%
Total loans	$	18,460,437	$	794,099	5.75	%	$	15,824,867	$	660,288	5.58	%
Total interest-earning assets	$	22,338,853	$	888,372	5.32	%	$	19,180,563	$	728,565	5.08	%
Cash and due from banks	232,671						202,833
Federal Home Loan Bank stock	16,795						24,231
Other assets	2,209,365						1,990,792
Total assets	$	24,797,684					$	21,398,419
Interest-bearing liabilities
Deposits
Savings and interest checking accounts	$	6,385,424	$	49,521	1.04	%	$	5,594,350	$	51,642	1.23	%
Money market	4,942,753		79,370		2.15	%	3,746,995		66,819		2.38	%
Time deposits	3,234,831		79,269		3.28	%	2,967,856		81,557		3.67	%
Total interest-bearing deposits	$	14,563,008	$	208,160	1.91	%	$	12,309,201	$	200,018	2.17	%
Borrowings
Federal Home Loan Bank and other borrowings	291,716		8,263		3.79	%	464,910		13,745		3.95	%


Line of Credit	94,389		3,878		5.49	%	—		—		—	%
Long-term borrowings	458		20		5.84	%	—		—		—	%
Junior subordinated debentures	62,863		2,642		5.62	%	62,861		2,931		6.23	%
Subordinated debentures	296,784		16,936		7.63	%	209,275		11,826		7.56	%
Total borrowings	$	746,210	$	31,739	5.69	%	$	737,046	$	28,502	5.17	%
Total interest-bearing liabilities	$	15,309,218	$	239,899	2.10	%	$	13,046,247	$	228,520	2.34	%
Noninterest-bearing demand deposits	5,593,126						4,810,799
Other liabilities	343,357						320,237
Total liabilities	$	21,245,701					$	18,177,283
Stockholders’ equity	3,551,983						3,221,136


Total liabilities and stockholders’ equity	$	24,797,684					$	21,398,419

Net interest income			$	648,473					$	500,045

Interest rate spread (2)					3.22	%					2.74	%

Net interest margin (3)					3.88	%					3.49	%

Supplemental Information
Total deposits, including demand deposits	$	20,156,134	$	208,160			$	17,120,000	$	200,018
Cost of total deposits					1.38	%					1.56	%
Total funding liabilities, including demand deposits	$	20,902,344	$	239,899			$	17,857,046	$	228,520
Cost of total funding liabilities					1.53	%					1.71	%

(1) The total amount of adjustment to present interest income and yield on a fully tax-equivalent basis was $4.4 million and $3.7 million for the nine months ended September 30, 2026 and 2025, respectively.

(2) Interest rate spread represents the difference between weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.

(3) Net interest margin represents annualized net interest income as a percentage of average interest-earning assets.

Certain amounts in prior year financial statements have been reclassified to conform to the current year’s presentation.

APPENDIX A: NON-GAAP Reconciliation of Balance Sheet Metrics

(Unaudited, dollars in thousands, except per share data)

The following table summarizes the calculation of the Company’s tangible common equity to tangible assets ratio and tangible book value per share, at the dates indicated:


	September 30 2026			June 30 2026			September 30 2025
Tangible common equity	(Dollars in thousands, except per share data)
Stockholders’ equity (GAAP)	$	3,452,336		$	3,512,363		$	3,546,887		(a)
Less: Goodwill and other intangibles	1,204,278			1,210,506			1,231,242
Tangible common equity (Non-GAAP)	$	2,248,058		$	2,301,857		$	2,315,645		(b)
Tangible assets
Assets (GAAP)	$	25,012,099		$	24,973,894		$	24,993,239		(c)
Less: Goodwill and other intangibles	1,204,278			1,210,506			1,231,242
Tangible assets (Non-GAAP)	$	23,807,821		$	23,763,388		$	23,761,997		(d)

Common Shares	46,944,467			47,618,626			49,787,305			(e)

Common equity to assets ratio (GAAP)	13.80		%	14.06		%	14.19		%	(a/c)
Tangible common equity to tangible assets ratio (Non-GAAP)	9.44		%	9.69		%	9.75		%	(b/d)
Book value per share (GAAP)	$	73.54		$	73.76		$	71.24		(a/e)
Tangible book value per share (Non-GAAP)	$	47.89		$	48.34		$	46.51		(b/e)

APPENDIX B: Non-GAAP Reconciliation of Earnings Metrics

The following table summarizes the impact of noncore items on the Company’s calculation of noninterest income and noninterest expense, the impact of noncore items on noninterest income as a percentage of total revenue and the efficiency ratio, as well as the average tangible common equity used to calculate return on average tangible common equity and operating return on tangible common equity for the periods indicated, and the average assets used to calculate return on average assets and operating return on average assets:


(Unaudited, dollars in thousands)	Three Months Ended									Nine Months Ended
	September 30 2026			June 30 2026			September 30 2025			September 30 2026			September 30 2025
Net interest income (GAAP)	$	220,661		$	210,927		$	203,344		$	644,048		$	496,345

Noninterest income (GAAP)	$	41,287		$	42,391		$	40,398		$	123,939		$	107,245






Total revenue (GAAP)	$	261,948		$	253,318		$	243,742		$	767,987		$	603,590

Noninterest expense (GAAP)	$	138,420		$	140,272		$	160,836		$	421,610		$	375,512
Less:


Merger and acquisition expense	—			—			23,893			3,024			27,287

Noninterest expense on an operating basis (Non-GAAP)	$	138,420		$	140,272		$	136,943		$	418,586		$	348,225


Average assets	$	25,110,494		$	24,575,682		$	24,930,449		$	24,797,684		$	21,398,419

Average common equity (GAAP)	$	3,514,701		$	3,550,702		$	3,557,840		$	3,551,983		$	3,221,136
Less: Average goodwill and other intangibles	1,207,596			1,214,434			1,236,109			1,214,360			1,076,960
Average tangible common equity (Non-GAAP)	$	2,307,105		$	2,336,268		$	2,321,731		$	2,337,623		$	2,144,176

Reconciliation of Net Income (GAAP) to Operating Net Income (Non-GAAP)
Net income (GAAP)	$	89,749		$	81,838		$	34,262		$	251,506		$	129,787
Provision for non-PCD acquired loans	—			—			34,519			—			34,519



Noninterest expense components



Add - merger and acquisition expenses	—			—			23,893			3,024			27,287

Noncore increases to income before taxes	—			—			58,412			3,024			61,806
Net taxes associated with noncore items (1)	—			—			(15,320)			(830)			(15,913)
Add - adjustment for tax effect of previously incurred merger and acquisition expenses	—			—			—			—			381


Total tax impact	—			—			(15,320)			(830)			(15,532)
Noncore increases to net income	—			—			43,092			2,194			46,274
Operating net income (Non-GAAP)	$	89,749		$	81,838		$	77,354		$	253,700		$	176,061

(1) The net taxes associated with noncore items is determined by assessing whether each noncore item is included or excluded from net taxable income and applying the Company’s combined marginal tax rate to only those items included in net taxable income.

Ratios

Return on average assets (GAAP) (calculated by dividing annualized net income by average assets)	1.42		%	1.34		%	0.55		%	1.36		%	0.81		%
Return on average assets on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average assets)	1.42		%	1.34		%	1.23		%	1.37		%	1.10		%
Return on average common equity (GAAP) (calculated by dividing annualized net income by average common equity)	10.13		%	9.24		%	3.82		%	9.47		%	5.39		%
Return on average common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average common equity)	10.13		%	9.24		%	8.63		%	9.55		%	7.31		%
Return on average tangible common equity (Non-GAAP) (calculated by dividing annualized net income by average tangible common equity)	15.43		%	14.05		%	5.85		%	14.38		%	8.09		%


Return on average tangible common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average tangible common equity)	15.43	%	14.05	%	13.22	%	14.51	%	10.98	%
Noninterest income as a % of total revenue (GAAP) (calculated by dividing total noninterest income by total revenue)	15.76	%	16.73	%	16.57	%	16.14	%	17.77	%
Noninterest income as a % of total revenue on an operating basis (Non-GAAP) (calculated by dividing total noninterest income on an operating basis by total revenue)	15.76	%	16.73	%	16.57	%	16.14	%	17.77	%
Efficiency ratio (GAAP) (calculated by dividing total noninterest expense by total revenue)	52.84	%	55.37	%	65.99	%	54.90	%	62.21	%
Efficiency ratio on an operating basis (Non-GAAP) (calculated by dividing total noninterest expense on an operating basis by total revenue)	52.84	%	55.37	%	56.18	%	54.50	%	57.69	%

APPENDIX C: Net Interest Margin Analysis & Non-GAAP Reconciliation of Adjusted Margin


(Unaudited, dollars in thousands)	Three Months Ended
	September 30, 2026						June 30, 2026
	Volume		Interest		Margin Impact		Volume		Interest		Margin Impact
Reported total interest earning assets	$	22,649,104	$	222,140	3.89	%	$	22,135,137	$	212,411	3.85	%





Acquisition fair value marks:
Loan accretion			(6,800)		(0.12)	%			(4,439)		(0.08)	%



Nonaccrual interest, net			(516)		(0.01)	%			143		—	%

Other adjustments	(1,308)		(243)		—	%	(1,453)		(497)		(0.01)	%

Adjusted margin (Non-GAAP)	$	22,647,796	$	214,581	3.76	%	$	22,133,684	$	207,618	3.76	%

Exhibit 99.2 Q3 2026 Earnings Presentation October 15, 2026

2 Safe & Sound Customer Centric • Full suite of retail banking, commercial banking, and wealth product offerings • Relationship-oriented commercial lending with strong local market knowledge and presence • Exceptional third party customer service recognition in both commercial and retail • Strong brand awareness and reputation Attractive Market • Top performing MA-based bank with scale and density • Supported by strong demographics in key markets served • Depth of market offers opportunities for continued growth • 2025 Enterprise acquisition added density to existing markets and expanded the Rockland franchise into Northern MA and Southern NH Strong, Resilient Franchise; Well Positioned for Growth High Performing • Consistent, strong profitability • Focused on maintaining good margins • Fee income contribution from scalable wealth franchise • Efficient cost structure focused on operating leverage • History of organic capital generation • Strong balance sheet • Prudent interest rate and liquidity risk management • Significant capital buffer • Diversified, low-cost deposit base • Experienced commercial lender with conservative credit culture • Disciplined operator and acquiror Company Overview

3 ($ in millions, except per share) Q3’26 Q3’26 Operating(1) Q2’26 Q2’26 Operating(1) Q3’25 Q3’25 Operating(1) Net Income $ 89.7 $ 89.7 $ 81.8 $ 81.8 $ 34.3 $ 77.4 Diluted EPS $ 1.90 $ 1.90 $ 1.70 $ 1.70 $ 0.69 $ 1.55 ROAA 1.42% 1.42% 1.34% 1.34% 0.55% 1.23% ROACE 10.13% 10.13% 9.24% 9.24% 3.82% 8.63% ROATCE(1) 15.43% 15.43% 14.05% 14.05% 5.85% 13.22% Net Interest Margin 3.89% 3.76% 3.85% 3.76% 3.62% 3.54% Q3 2026 Financial Highlights Key Metrics Highlights • Operating EPS of $1.90, increase of $0.20, or 12%, from prior quarter(1) • Reported net interest margin of 3.89%, adjusted margin of 3.76%(1) • Loans increased $158.2 million, or 0.9%, with growth across most major categories • Deposits increased $135.3 million, or 0.7% (average deposits up $633.8 milion), with solid growth in business and consumer accounts partially offset by seasonality in municipal accounts • Provision of $6.5 million driven primarily by one new non-performing loan • Wealth AUA consistent at $9.5 billion • Approximately 679,000 shares repurchased for $57.4 million (1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures.

4 Earnings Growth & Profitability Enhancement (1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures. Operating Pre-Provision Net Revenue ROAA 1.70% 1.78% 1.85% 1.85% 1.95% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 1.00% 1.50% 2.00% Operating ROAA 1.23% 1.34% 1.35% 1.34% 1.42% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 1.00% 1.20% 1.40% Operating ROATCE 13.22% 14.30% 14.05% 14.05% 15.43% Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 10.00% 12.50% 15.00% Operating EPS $1.55 $1.70 $1.68 $1.70 $1.90 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 $1.00 $1.50 $2.00 (1) (1) (1) (1)

5 Deposit Balances (Dollars in millions) September 30 2026 June 30 2026 $ Increase (Decrease) % Increase (Decrease) Deposit Product Type Noninterest-bearing demand deposits $ 5,761 $ 5,710 $ 51 0.9% Savings and interest checking 6,450 6,504 (54) (0.8)% Money market 5,164 4,929 235 4.8% Time certificates of deposit 3,152 3,249 (97) (3.0)% Total deposits $ 20,527 $ 20,392 $ 135 0.7% $ in b ill io ns Average Balances and Cost of Deposits $20.3 $20.0 $19.9 $20.6 1.46% 1.36% 1.36% 1.42% Deposits Cost of deposits Q4 2025 Q1 2026 Q2 2026 Q3 2026 $0.0 $5.0 $10.0 $15.0 $20.0 Deposit Composition DDA -28% Savings/Int. Checking - 32% Money Market - 25% Time Deposits - 15%

6 Linked Quarter Change in Commercial Loans $14,139 $60 $38 $(11) $(7) $14,219 Q2 2026 C&I ex. Dealer Finance CRE ex. Office C&I - Dealer Finance CRE - Office Q3 2026 Loan Balances (Dollars in millions) September 30 2026 June 30 2026 $ Increase (Decrease) % Increase (Decrease) Loan Category Commercial and industrial $ 4,780 $ 4,731 $ 49 1.0% Commercial real estate 7,860 7,944 (84) (1.1)% Commercial construction 1,579 1,464 115 7.9% Total commercial 14,219 14,139 80 0.6% Residential real estate 2,910 2,870 40 1.4% Home equity 1,384 1,343 41 3.1% Total consumer real estate 4,294 4,213 81 1.9% Total other consumer 40 42 (2) (4.8)% Total loans $ 18,553 $ 18,394 $159 0.9% $60 $38

7 Q3 2026 New Commercial Loan Commitments ($ in millions) Institutional CRE Middle Market C&I Regional Banking CRE C&I $— $100 $200 $300 $400 Q3 2026 New Commercial Loan Commitments/Pipeline Approved Commercial Loan Pipeline ($ in millions) $443 $278 $313 $510 $574 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 $— $200 $400 $600

8 Nonperforming Loans ($ in millions) $83.6 $96.6 $103.6 $125.7 0.45% 0.52% 0.56% 0.68% NPLs ($Mil) NPL as % of Total Loans Q4 2025 Q1 2026 Q2 2026 Q3 2026 0.25% 0.50% 0.75% $0 $80 $160 Commercial Criticized & Classified Loans ($ in millions) $472.9 $575.5 $545.6 $550.9 3.31% 4.04% 3.86% 3.87% Criticized & Classified Loans Criticized & Classified Loans as a % of Total Commercial Loans Q4 2025 Q1 2026 Q2 2026 Q3 2026 $— $150.0 $300.0 $450.0 $600.0 —% 1.50% 3.00% 4.50% 6.00% Asset Quality Allowance for Credit Loss & Delinquency Trends 1.03% 1.03% 1.06% 1.08% 0.32% 0.41% 0.43% 0.73% Allowance for Credit Losses/Total Loans Delinquent Loans/Total Loans Q4 2025 Q1 2026 Q2 2026 Q3 2026 0.00% 0.50% 1.00%

9 95% CRE & Construction Portfolio $9.4 billion Multi-Family - 31.5% Residential - Related - 16.0% Office - 10.9%Mixed-Use Office - 1.9% Industrial/ Warehouse - 9.9% Lodging - 8.5% Retail - 16.0% Healthcare - 0.7% Other - 4.6% C&I Portfolio $4.8 billion Retail Trade - 15.9% Real Estate/Rental and Leasing - 9.2% Construction - 10.2% Health Care and Social Assistance - 8.8% Wholesale Trade - 10.8% Manufacturing - 8.0% Accommodation and Food Services - 8.3% Educational Services - 3.9% All Other - 24.9% Consumer Portfolio $4.3 billion Residential real estate - 67.1% Home equity - 32.0% Other consumer - 0.9% $9.7 $9.6 $9.4 $9.4 290% 283% 278% 278% CRE CRE/Capital * Q4 2025 Q1 2026 Q2 2026 Q3 2026 $0.0 $4.0 $8.0 $12.0 250% 275% 300% ($Bil) *Rockland Trust Bank only. Ratio for Q3 2026 is an estimated number Loan Portfolios

10 Top 20 Borrowers All Others Total Portfolio ($ in millions) Total Avg Loan ($ in millions) Total Avg Loan ($ in millions) Total Avg Loan Class A $272.9 $24.8 Class A $144.4 $4.8 Class A $417.3 $10.2 Class B/C 176.0 22.0 Class B/C 302.3 1.4 Class B/C 478.3 2.2 Medical 26.0 26.0 Medical 94.6 2.3 Medical 120.6 2.8 $474.9 $23.7 $541.3 $2.0 $1,016.2 $3.4 Criticized $66.6 Criticized $42.5 Criticized $109.1 Classified (perf) — Classified (perf) 15.0 Classified (perf) 15.0 Nonperforming 61.6 Nonperforming 0.5 Nonperforming 62.1 Maturity Schedule ($ in millions) Matured 2026 Q4 2027 2028 2029+ Total Pass Rating $6.5 $31.2 $148.6 $84.2 $559.5 $830.0 Criticized 14.3 32.7 31.4 — 30.7 109.1 Classified — 17.3 22.3 — 37.5 77.1 Total $20.8 $81.2 $202.3 $84.2 $627.7 $1,016.2 % of Total 2.0% 8.0% 19.9% 8.3% 61.8% 100% CRE & Construction Portfolio $9.4 billion Office ($1.016B) - 10.8% Other CRE & Construction - 89.2% Focal Point | CRE Office (inclusive of construction)

11 Trend in Asset Yields vs. Funding Costs 2.84% 2.96% 3.08% 3.13% 3.36% 5.61% 5.57% 5.55% 5.58% 5.64% 1.72% 1.60% 1.52% 1.52% 1.56% Security yields Adjusted loan yields(1) Funding costs Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 —% 2.00% 4.00% 6.00% 8.00% Net Interest Margin 3.62% 3.77% 3.90% 3.85% 3.89% 3.54% 3.64% 3.72% 3.76% 3.76% Reported NIM Adjusted NIM Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 3.00% 3.20% 3.40% 3.60% 3.80% 4.00% Net Interest Margin Dynamics (1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures. Total Loan Portfolio Rate Characteristics 34% 26% 40% Fixed Rate Floating Rate Variable Rate -39bp-4bp Avg. Fed Funds Impact -26bp -1bp (1) 4bp

12 Noninterest Income Noninterest Expense ($ in thousands) ($ in thousands) Q3 2026 Q2 2026 Q3 2026 Q2 2026 Deposit account fees $ 9,948 $ 9,393 Salaries and employee benefits $ 80,408 $ 79,088 Interchange and ATM fees 5,719 5,686 Occupancy and equipment expenses 15,831 16,170 Investment management and advisory 14,498 14,961 Data processing and facilities management 3,035 3,208 Mortgage banking income 931 1,174 FDIC assessment 2,535 3,158 Increase in cash surrender value of life insurance policies 2,739 2,636 Amortization of intangible assets 6,227 6,791 Gain on life insurance benefits 180 672 Other noninterest expenses 28,219 29,713 Loan level derivative income 799 1,317 Other - core conversion 2,165 2,144 Other noninterest income 6,473 6,552 Total noninterest expenses $ 138,420 $ 140,272 Total noninterest income $ 41,287 $ 42,391 Reconciliation of operating noninterest expense (Non-GAAP): Less: core conversion 2,165 2,144 Operating noninterest expense, excluding core conversion (Non-GAAP) $ 136,255 $ 138,128 Noninterest Income/Expense

13 $ in m ill io ns Assets Under Administration $9,217 $9,172 $9,470 $9,506 Q4 2025 Q1 2026 Q2 2026 Q3 2026 $— $5,000 $10,000 ($ in thousands) Q3 2026 Q2 2026 % Change Assets under administration $ 9,505,875 $ 9,470,096 0.4% Asset based revenue 13,094 12,852 1.9% Other revenue: Retail commission revenue 1,025 1,296 Insurance commission revenue 71 73 Other advisory revenue 308 740 Total reported revenue $ 14,498 $ 14,961 (3.1)% Focal Point | Investment Management and Advisory

14 Available for Sale (AFS) Held to Maturity (HTM) Portfolio Composition at September 30, 2026 Book Value Fair Value Unrealized Gain/(Loss) Book Value Fair Value Unrealized Gain/(Loss) ($ in millions) U.S. government agency securities $ 198 $ 188 $ (10) $ — $ — $ — U.S. treasury securities 291 280 (11) 101 98 (3) Agency mortgage-backed securities 1,455 1,362 (93) 645 596 (49) Agency collateralized mortgage obligations 254 233 (21) 312 260 (53) Municipal securities 229 220 (9) — — — Other 39 34 (5) 105 94 (11) Total securities $ 2,466 $ 2,317 $ (149) $ 1,163 $ 1,048 $ (116) Duration of portfolio 4.3 Years 3.3 Years Securities Portfolio $ in m ill io ns Projected Quarterly Paydowns and Maturities $184.4 $136.3 $117.6 $93.8 $188.0 $185.3 $191.4 $187.0 $277.0 $97.4 $80.5 $122.6 $122.8 2.18% 2.54% 2.54% 3.47% 1.86% 2.02% 2.26% 2.30% 1.99% 2.95% 3.82% 3.40% 4.05% Paydowns* Yield 4Q26 1Q27 2Q27 3Q27 4Q27 1Q28 2Q28 3Q28 4Q28 1Q29 2Q29 3Q29 4Q29 $0.0 $100.0 $200.0 $300.0 0.00% 5.00% 10.00% 15.00%

15 Metric Q4 2026 Expectations Loan Growth • Commercial real estate and Construction: low-single digit annualized percentage increase • Commercial and Industrial: mid-single digit annualized percentage increase • Home equity: high-single digit annualized percentage increase • Residential mortgage: flat to low-single digit annualized percentage increase Deposit Growth • Flat to low-single digit annualized percentage increase Net Interest Income/ Margin • Net interest income: modest increase • Net interest margin: assuming no change in rates, reported margin in the low 3.90% range, including an estimated 10 basis point benefit from purchase loan accretion Loan Loss Provision • Stable asset quality metrics Non-interest Income • Low-single digit annualized percentage increase Non-interest Expense • Expenses excluding core conversion costs: low-single digit annualized percentage increase • Core conversion costs of approximately $1.0-1.5 million Tax Rate • 23.3 - 23.4%, excluding discrete impact from annual tax return filing Q4 2026 Guidance

16 This presentation contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations and business of the Company. These statements may be identified by such forward-looking terminology as “expect,” “achieve,” “plan,” “believe,” “outlook,” “projected,” “future,” “positioned,” “continued,” “will,” “would,” “potential,” “anticipated,” “guidance,” “target” or similar statements or variations of such terms. Actual results may differ from those contemplated by these forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to: • adverse economic conditions in the regional and local economies within the New England region and the Company’s market area; • events impacting the financial services industry, including high profile bank failures, and any resulting decreased confidence in banks among depositors, investors, and other counterparties, as well as competition for deposits and significant disruption, volatility and depressed valuations of equity and other securities of banks in the capital markets; • the effects to the Company of an increasingly competitive labor market, including the possibility that the Company will have to devote significant resources to attract and retain qualified personnel; • political and policy uncertainties, changes in U.S. and international trade policies, such as tariffs or other factors, and the potential impact of such factors on the Company and its customers, including the potential for decreases in deposits and loan demand, unanticipated loan delinquencies, loss of collateral and decreased service revenues; • the instability or volatility in financial markets and unfavorable domestic or global general economic, political or business conditions, including international conflicts and hostilities, such as the ongoing conflict involving Israel, the U.S. and Iran; • unanticipated loan delinquencies, loss of collateral, decreased service revenues, and other potential negative effects on the Company’s local economies or the Company’s business caused by adverse weather conditions and natural disasters, changes in climate, public health crises or other external events and any actions taken by governmental authorities in response to any such events; • adverse changes or volatility in the local real estate market, including limitations on rent growth, increases in operating expenses, reductions in property cash flows, reductions in collateral values, and decreased investor demand, which may be exacerbated by legislative or regulatory actions such as rent control or tenant protection laws; • changes in interest rates and any resulting impact on interest earning assets and/or interest bearing liabilities, the level of voluntary prepayments on loans and the receipt of payments on mortgage-backed securities, decreased loan demand or increased difficulty in the ability of borrowers to repay variable rate loans; • risks related to the Company’s acquisition activities, including disruption to current plans and operations; difficulties in customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated; impairment of goodwill and/or other intangibles; and the Company’s inability to achieve expected revenues, cost savings, synergies, and other benefits at levels or within the timeframes originally anticipated; • the effect of laws, regulations, new requirements or expectations, or additional regulatory oversight in the highly regulated financial services industry, and the resulting need to invest in technology to meet heightened regulatory expectations, increased costs of compliance or required adjustments to strategy; • changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; • higher than expected tax expense, including as a result of failure to comply with general tax laws and changes in tax laws; • increased competition in the Company’s market areas, including competition that could impact deposit gathering, retention of deposits and the cost of deposits, increased competition due to the demand for innovative products and service offerings, and competition from non-depository institutions which may be subject to fewer regulatory constraints and lower cost structures; • a deterioration in the conditions of the securities markets; • a deterioration of the credit rating for U.S. long-term sovereign debt or uncertainties surrounding the federal budget; • inability to adapt to changes in information technology, including changes to industry accepted delivery models driven by a migration to the internet as a means of service delivery, including any inability to effectively implement new technology-driven products, such as artificial intelligence (“AI”); • electronic or other fraudulent activity within the financial services industry, especially in the commercial banking sector; • adverse changes in consumer spending and savings habits; • the effect of laws and regulations regarding the financial services industry, including the need to invest in technology to meet heightened regulatory expectations or the introduction of new requirements or expectations resulting in increased costs of compliance or required adjustments to strategy; • changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) generally applicable to the Company’s business and the associated costs of such changes; • the Company’s potential judgments, claims, damages, penalties, fines and reputational damage resulting from pending or future litigation and regulatory and government actions and the adequacy of the Company’s reserves and insurance coverage for legal matters; • changes in accounting policies, practices and standards, as may be adopted by the regulatory agencies as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board, and other accounting standard setters; • operational risks related to the Company and its customers’ reliance on information technology; cyber threats, attacks, intrusions, and fraud; and outages or other issues impacting the Company or its third party service providers which could lead to interruptions or disruptions of the Company’s operating systems, including systems that are customer facing, and adversely impact the Company’s business; including the Company’s ability to successfully complete and integrate its core system conversion and to do so within the anticipated timeframe, including its reliance on third-party providers in connection with that conversion, as well as its ability to effectively manage any related operational disruptions, customer impacts, data conversion issues, or related internal control issues; • risks related to the development and use of AI by the Company, its third-party vendors, clients and counterparties; and • any unexpected material adverse changes in the Company’s operations or earnings. The Company cautions readers not to place undue reliance on any forward-looking statements as the Company’s business and its forward-looking statements involve substantial known and unknown risks and uncertainties described above and in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q (“Risk Factors”). Except as required by law, the Company disclaims any intent or obligation to update publicly any such forward-looking statements, whether in response to new information, future events or otherwise. Any public statements or disclosures by the Company following this presentation which modify or impact any of the forward-looking statements contained in this presentation will be deemed to modify or supersede such statements in this release. In addition to the information set forth in this earnings presentation, you should carefully consider the Risk Factors. Forward Looking Statements

17 This presentation contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). This information may include operating net income and operating earnings per share (“EPS”), operating return on average assets, operating pre-provision net revenue return on average assets, operating return on average common equity, operating return on average tangible common equity, operating noninterest expense, operating noninterest expense, excluding core conversion costs, adjusted net interest margin (“adjusted NIM” or “adjusted margin”) and the associated adjusted loan yield (which is calculated by dividing annualized interest income on loans, plus or minus non-core or other adjustments, by average loans), tangible book value per share, tangible common equity ratio and return on average tangible common equity. Management reviews its adjusted margin and adjusted loan yield to determine any items that may impact these metrics that may be one-time in nature or not reflective of its core operating environment, such as significant purchase accounting adjustments or other adjustments such as nonaccrual interest reversals/recoveries and prepayment penalties. Management believes that adjusting for these items to arrive at an adjusted margin and adjusted loan yield provides additional insight into the operating environment and how management decisions impact the net interest margin. Management also supplements its evaluation of financial performance with analysis of tangible book value per share (which is computed by dividing stockholders’ equity less goodwill and identifiable intangible assets, or “tangible common equity,” by common shares outstanding), the tangible common equity ratio (which is computed by dividing tangible common equity by “tangible assets,” defined as total assets less goodwill and other intangibles), and return on average tangible common equity (which is computed by dividing net income by average tangible common equity). The Company has included information on tangible book value per share, the tangible common equity ratio and return on average tangible common equity because management believes that investors may find it useful to have access to the same analytical tools used by management. As a result of merger and acquisition activity, the Company has recognized goodwill and other intangible assets in conjunction with business combination accounting principles. Excluding the impact of goodwill and other intangibles in measuring asset and capital values for the ratios provided, along with other bank standard capital ratios, provides a framework to compare the capital adequacy of the Company to other companies in the financial services industry. These non-GAAP measures should not be viewed as a substitute for operating results and other financial measures determined in accordance with GAAP. An item which management excludes when computing these non-GAAP measures can be of substantial importance to the Company’s results for any particular quarter or year. The Company’s non-GAAP performance measures, including operating net income, operating EPS, operating return on average assets, operating pre-provision net revenue return on average assets, operating return on average common equity, operating return on average tangible common equity, operating noninterest expense, operating noninterest expense, excluding core conversion costs, adjusted margin, tangible book value per share and the tangible common equity ratio, are not necessarily comparable to non-GAAP performance measures which may be presented by other companies. Non-GAAP Financial Measures

18 Appendix

19 Non-GAAP Reconciliation of Capital Metrics (Unaudited, dollars in thousands, except per share data) September 30 2026 June 30 2026 September 30 2025 Tangible common equity Stockholders’ equity (GAAP) $ 3,452,336 $ 3,512,363 $ 3,546,887 (a) Less: Goodwill and other intangibles 1,204,278 1,210,506 1,231,242 Tangible common equity (Non-GAAP) $ 2,248,058 $ 2,301,857 $ 2,315,645 (b) Common Shares 46,944,467 47,618,626 49,787,305 (c) Book value per share (GAAP) $ 73.54 $ 73.76 $ 71.24 (a/c) Tangible book value per share (Non-GAAP) $ 47.89 $ 48.34 $ 46.51 (b/c)

20 Non-GAAP Reconciliation of Earnings Metrics (Unaudited, dollars in thousands) Three Months Ended September 30 2026 June 30 2026 March 31 2026 December 31 2025 September 30 2025 Net interest income (GAAP) $ 220,661 $ 210,927 $ 212,459 $ 212,486 $ 203,344 Noninterest income (GAAP) $ 41,287 $ 42,391 $ 40,262 $ 41,445 $ 40,398 Total revenue (GAAP) $ 261,948 $ 253,318 $ 252,721 $ 253,931 $ 243,742 Noninterest expense (GAAP) $ 138,420 $ 140,272 $ 142,918 $ 154,370 $ 160,836 Less: Merger and acquisition expense — — 3,024 12,348 23,893 Noninterest expense on an operating basis (Non-GAAP) $ 138,420 $ 140,272 $ 139,894 $ 142,022 $ 136,943 Average assets $ 25,110,494 $ 24,575,682 $ 24,702,391 $ 24,965,043 $ 24,930,449 Average common equity (GAAP) $ 3,514,701 $ 3,550,702 $ 3,591,389 $ 3,568,036 $ 3,557,840 Less: Average goodwill and other intangibles 1,207,596 1,214,434 1,221,201 1,227,889 1,236,109 Average tangible common equity (Non-GAAP) $ 2,307,105 $ 2,336,268 $ 2,370,188 $ 2,340,147 $ 2,321,731 Reconciliation of Net Income (GAAP) to Operating Net Income (Non-GAAP) Net income (GAAP) $ 89,749 $ 81,838 $ 79,919 $ 75,335 $ 34,262 Provision for non-PCD acquired loans — — — — 34,519 Noninterest expense components Add - merger and acquisition expenses — — 3,024 12,348 23,893 Noncore increases to income before taxes — — 3,024 12,348 58,412 Net taxes associated with noncore items (1) — — (830) (3,326) (15,320) Add - adjustment for tax effect of previously incurred merger and acquisition expenses — — — — — Total tax impact — — (830) (3,326) (15,320) Noncore increases to net income — — 2,194 9,022 43,092 Operating net income (Non-GAAP) $ 89,749 $ 81,838 $ 82,113 $ 84,357 $ 77,354 Weighted average common shares (diluted) 47,256,612 48,076,755 48,999,745 49,476,340 49,957,007 Diluted earnings per share (GAAP) $ 1.90 $ 1.70 $ 1.63 $ 1.52 $ 0.69 Diluted earnings per share, on an operating basis (Non-GAAP) $ 1.90 $ 1.70 $ 1.68 $ 1.70 $ 1.55 (1) The net taxes associated with noncore items is determined by assessing whether each noncore item is included or excluded from net taxable income and applying the Company’s combined marginal tax rate to only those items included in net taxable income. Ratios Return on average assets (GAAP) (calculated by dividing annualized net income by average assets) 1.42% 1.34% 1.31% 1.20% 0.55% Return on average assets on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average assets) 1.42% 1.34% 1.35% 1.34% 1.23% Return on average common equity (GAAP) (calculated by dividing annualized net income by average common equity) 10.13% 9.24% 9.02% 8.38% 3.82% Return on average common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average common equity) 10.13% 9.24% 9.27% 9.38% 8.63% Return on average tangible common equity (Non-GAAP) (calculated by dividing annualized net income by average tangible common equity) 15.43% 14.05% 13.67% 12.77% 5.85% Return on average tangible common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average tangible common equity) 15.43% 14.05% 14.05% 14.30% 13.22%

21 (Unaudited, dollars in thousands) Three Months Ended September 30 2026 June 30 2026 March 31 2026 December 31 2025 September 30 2025 Pre-provision net revenue (2) $ 123,528 $ 113,046 $ 109,803 $ 99,561 $ 82,906 Pre-provision net revenue on an operating basis Pre-provision net revenue $ 123,528 $ 113,046 $ 109,803 $ 99,561 $ 82,906 Add: merger and acquisition expenses — — 3,024 12,348 23,893 Pre-provision net revenue on an operating basis (Non-GAAP) $ 123,528 $ 113,046 $ 112,827 $ 111,909 $ 106,799 Pre-provision net revenue return on average assets on an operating basis Pre-provision net revenue on an operating basis (Non-GAAP) $ 123,528 $ 113,046 $ 112,827 $ 111,909 $ 106,799 Average Assets $ 25,110,494 $ 24,575,682 $ 24,702,391 $ 24,965,043 $ 24,930,449 Pre-provision net revenue return on average assets on an operating basis (Non-GAAP) 1.95% 1.85% 1.85% 1.78% 1.70% Non-GAAP Reconciliation of Pre-Provision Net Revenue (2) Pre-provision net revenue is calculated as net interest income (GAAP) plus total non-interest income (GAAP) less total non-interest expense (GAAP).

22 Three Months Ended September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Volume Interest Margin Impact Volume Interest Margin Impact Volume Interest Margin Impact Volume Interest Margin Impact Volume Interest Margin Impact (Unaudited, dollars in thousands) Reported total interest earning assets $ 22,649,104 $ 222,140 3.89% $ 22,135,137 $ 212,411 3.85% $ 22,227,686 $ 213,921 3.90% $ 22,484,104 $ 213,856 3.77% $ 22,430,232 $ 204,731 3.62% Acquisition fair value marks: Loan accretion (6,800) (0.12)% (4,439) (0.08)% (9,186) (0.17)% (6,275) (0.11)% (4,729) (0.08)% Nonaccrual interest, net (516) (0.01)% 143 —% (54) —% (1,117) (0.02)% (84) —% Other adjustments (1,308) (243) —% (1,453) (497) (0.01)% (1,626) (667) (0.01)% (1,842) (407) —% (2,088) 129 —% Adjusted margin (Non- GAAP) $ 22,647,796 $ 214,581 3.76% $ 22,133,684 $ 207,618 3.76% $ 22,226,060 $ 204,014 3.72% $ 22,482,262 $ 206,057 3.64% $ 22,428,144 $ 200,047 3.54% Non-GAAP Reconciliation of Adjusted Margin

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

6 documents

Independent Bank Q3 2026 earnings rise to $89.7M

Rhea-AI Filing Summary

Positive

Negative

Filing Explained

8-K Event Classification

Key Figures

Key Terms

Earnings Snapshot

FAQ

What were INDB’s third-quarter 2026 earnings?

What net interest margin does INDB expect in Q4 2026?

Filing Exhibits & Attachments

Press Releases

Other Documents

Keep reading

More on INDB

Trending in the feed