---
schema_version: "secwatch.filing_event.v1"
accession: "0000776901-23-000180"
form_type: "8-K"
ticker: "INDB"
cik: "0000776901"
company_name: "INDEPENDENT BANK CORP"
filed_at: "2023-07-20T23:59:59+00:00"
generated_at: "2026-06-13T05:57:19.101935+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Independent Bank Corp Q2 net income $62.6M, EPS $1.42; NIM compresses 25 bps to 3.54%

## Summary
- Net income $62.6M, diluted EPS $1.42; ROAA 1.29%, ROAE 8.78%.
- Net interest margin declined 25 bps to 3.54%; core NIM 3.52% (down 26 bps QoQ).
- Total loans $14.1B (+1.4% QoQ); deposits $15.2B (-0.2% QoQ); deposit cost rose to 0.85%.
- Net charge-offs $23.5M (primarily fully-reserved C&I loan); provision $5.0M; NPLs 0.32% of loans.
- Tangible book value per share $41.88, up $0.57 QoQ; strong capital ratios.

## SEC filing metadata
- accession: 0000776901-23-000180
- form_type: 8-K
- ticker: INDB
- cik: 0000776901
- company_name: INDEPENDENT BANK CORP
- filed_at: 2023-07-20T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/776901/000077690123000180/0000776901-23-000180-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/776901/000077690123000180/indb-20230720.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000776901-23-000180
- JSON: https://secwatch.observer/filing/0000776901-23-000180.json
- Plain text: https://secwatch.observer/filing/0000776901-23-000180.txt

## Key facts
- Earnings Releases
  INDEPENDENT BANK CORP reported Q2 2023 results: net income $62.6 million, EPS $1.42 per diluted share.
  - Period: Q2 2023
  - Net income: $62.6 million
  - EPS: $1.42 per diluted share
  - Result: reported results
  source text: Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2023 second quarter net income of $62.6 million, or $1.42 per d iluted share, compared to 2023 first quarter net income of $61.2 million, or $1.36 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/776901/000077690123000180/0000776901-23-000180-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.