secwatch.observer — SEC 8-K summary
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Issuer:     INDEPENDENT BANK CORP (INDB)
CIK:        0000776901
Form:       8-K
Filed at:   2024-09-03T23:59:59+00:00
Accession:  0000776901-24-000156
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

INDB Q2 2024: Net income $51.3M, EPS $1.21, NIM 3.25%, NPL ratio 0.40%
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- Q2 2024 net income $51.3M, diluted EPS $1.21; operating ROAA 1.07%, ROATCE 10.83%.
- Total assets $19.4B, loans $14.4B, deposits $15.4B; net interest margin 3.25%, up from 3.23% prior Q.
- Wealth AUA record $6.9B, fee revenue $10.99M (+10.5% QoQ); capital strong with Tier 1 leverage 11.09%.
- NPLs $57.5M (0.40% of loans), ACL 1.05%; office CRE $1.04B with criticized/classified $145.8M.
- Repurchased 532,266 shares for $31M YTD 2024; tangible book value per share $45.19.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/776901/000077690124000156/0000776901-24-000156-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/776901/000077690124000156/indb-20240903.htm
  HTML page:      https://secwatch.observer/filing/0000776901-24-000156

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