other material
confidence high
sentiment neutral
materiality 0.60
INDB presents Q4 2023 results at KBW conference: EPS $1.26, ROATCE 11.50%
INDEPENDENT BANK CORP
- Q4 2023 net income $54.8M, diluted EPS $1.26; full-year 2023 operating EPS $5.42.
- Total assets $19.3B; loans $14.3B; deposits $14.9B; wealth AUA $6.5B.
- Nonperforming loans $54.4M (0.38% of loans); net charge-offs $3.8M in Q4.
- Tangible book value per share $44.13; $69M shares repurchased in Q4 2023.
- Portfolio focus: CRE office criticized 8.2%, multifamily criticized 0.9%.