---
schema_version: "secwatch.filing_event.v1"
accession: "0000776901-23-000213"
form_type: "8-K"
ticker: "INDB"
cik: "0000776901"
company_name: "INDEPENDENT BANK CORP"
filed_at: "2023-10-19T23:59:59+00:00"
generated_at: "2026-06-09T21:20:52.241454+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Independent Bank Corp Q3 net income $60.8M ($1.38 EPS); NIM compresses, announces $100M buyback

## Summary
- Q3 net income $60.8M, diluted EPS $1.38 (vs Q2 $62.6M, $1.42); ROAA 1.25%, ROAE 8.35%.
- Core net interest margin 3.47%, down 5 bps QoQ; Q4 2023 margin guided 3.35%-3.40%.
- Total loans $14.2B (+0.6% QoQ), deposits $15.1B (-1.2%); NPLs $39.2M (0.28% of loans).
- Provision $5.5M, net charge-offs $5.6M (single CRE credit); allowance 0.99%.
- Board authorizes $100M stock repurchase plan, expiring Oct 18, 2024.

## SEC filing metadata
- accession: 0000776901-23-000213
- form_type: 8-K
- ticker: INDB
- cik: 0000776901
- company_name: INDEPENDENT BANK CORP
- filed_at: 2023-10-19T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/776901/000077690123000213/0000776901-23-000213-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/776901/000077690123000213/indb-20231019.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000776901-23-000213
- JSON: https://secwatch.observer/filing/0000776901-23-000213.json
- Plain text: https://secwatch.observer/filing/0000776901-23-000213.txt

## Key facts
- Earnings Releases
  INDEPENDENT BANK CORP reported quarter ended September 30, 2023 results: net income 60.8 million, EPS 1.38.
  - Period: quarter ended September 30, 2023
  - Net income: 60.8 million
  - EPS: 1.38
  - Result: reported results
  source text: Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2023 third quarter net income of $60.8 million, or $1.38 per d iluted share, compared to 2023 second quarter net income of $62.6 million, or $1.42 per diluted share .
  evidence_url: https://www.sec.gov/Archives/edgar/data/776901/000077690123000213/0000776901-23-000213-index.htm

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