secwatch.observer — SEC 8-K summary
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Issuer:     INDEPENDENT BANK CORP (INDB)
CIK:        0000776901
Form:       8-K
Filed at:   2024-07-18T23:59:59+00:00
Accession:  0000776901-24-000149
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Independent Bank Q2 net income $51.3M ($1.21 EPS); deposits up 2.4%, NIM expands to 3.25%
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- Net income $51.3M vs $47.8M in Q1; diluted EPS $1.21 vs $1.12.
- Deposits grew $366.4M (2.4% QoQ) to $15.4B; loans increased $70.3M (0.5% QoQ).
- Net interest margin improved to 3.25% from 3.23%; net interest income $137.9M.
- Tangible book value per share rose to $45.19 (up 1.9% QoQ, up 7.9% YoY).
- Nonperforming loans stable at $57.5M (0.40% of loans); provision for credit losses $4.3M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/776901/000077690124000149/0000776901-24-000149-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/776901/000077690124000149/indb-20240718.htm
  HTML page:      https://secwatch.observer/filing/0000776901-24-000149

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer