secwatch.observer — SEC 8-K summary
======================================

Issuer:     INDEPENDENT BANK CORP (INDB)
CIK:        0000776901
Form:       8-K
Filed at:   2024-12-09T23:59:59+00:00
Accession:  0000776901-24-000173
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Independent Bank to acquire Enterprise Bancorp for ~$562M in cash/stock
-----------------------------------------------------------------------

- Consideration: 0.60 INDB shares + $2 cash per EBTC share; ~$45.06/share based on INDB close of $71.77 on 12/6/24.
- Transaction valued at ~$562M aggregate; expected to close in second half 2025, subject to regulatory and EBTC shareholder approval.
- Expected ~16% EPS accretive in 2026 first full year; tangible book value earn-back within 3 years.
- Enterprise has $4.7B assets, $4.2B deposits, $1.5B wealth AUM; combined pro forma ~$25B assets.
- Enterprise directors/officers owning ~20.4% of EBTC shares have agreed to vote in favor; no INDB shareholder vote required.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/776901/000077690124000173/0000776901-24-000173-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/776901/000077690124000173/indb-20241209.htm
  HTML page:      https://secwatch.observer/filing/0000776901-24-000173

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