---
schema_version: "secwatch.filing_event.v1"
accession: "0000776901-24-000104"
form_type: "8-K"
ticker: "INDB"
cik: "0000776901"
company_name: "INDEPENDENT BANK CORP"
filed_at: "2024-04-18T23:59:59+00:00"
generated_at: "2026-06-03T21:12:50.760128+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Independent Bank Corp Q1 net income $47.8M, EPS $1.12; NIM down 15 bps to 3.23%

## Summary
- Net income of $47.8M ($1.12 diluted EPS) vs Q4 2023 $54.8M ($1.26); ROAA 1.00%, ROAE 6.63%.
- Net interest margin fell 15 bps to 3.23%; net interest income down 5.3% to $137.4M.
- Deposits grew $177.7M (1.2%) to $15.0B; borrowings down $193M (15.8%).
- Completed $100M share buyback with $31M repurchased in Q1; 532,266 shares at avg $58.22.
- Guidance: Q2 2024 NIM expected 3.20-3.25%; loan growth flat to low single digit.

## SEC filing metadata
- accession: 0000776901-24-000104
- form_type: 8-K
- ticker: INDB
- cik: 0000776901
- company_name: INDEPENDENT BANK CORP
- filed_at: 2024-04-18T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/776901/000077690124000104/0000776901-24-000104-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/776901/000077690124000104/indb-20240418.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000776901-24-000104
- JSON: https://secwatch.observer/filing/0000776901-24-000104.json
- Plain text: https://secwatch.observer/filing/0000776901-24-000104.txt

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