Independent Bank Corp revises pro forma ROAA for Enterprise acquisition to 1.41% (was 1.14%)

INDEPENDENT BANK CORP

2024-FY EPS reported $4.52

Pro Forma ROAA (2026E) corrected from 1.14% to 1.41% on slide 16 of Q4 2024 earnings presentation.
Correction reflects updated assumptions for Enterprise Bancorp acquisition; all other metrics unchanged.
Q4 2024 GAAP net income $50.0M, diluted EPS $1.18; operating EPS $1.21.
2025 guidance: low to mid-single digit loan/deposit growth, NIM expansion ~15bps from Q4 2024 core.
Enterprise acquisition expected to close with ~16.2% GAAP EPS accretion (2026E) and ~3yr TBV earnback.

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