other material
confidence high
sentiment positive
materiality 0.55
Independent Bank Corp. highlights Q4 results and Enterprise acquisition at KBW conference
INDEPENDENT BANK CORP
- Q4 2024 net income $50.0M, diluted EPS $1.18; ROATCE 9.96%.
- Enterprise Bancorp acquisition: 16.2% GAAP EPS accretion (2026E), ~3-year TBV earnback, >20% IRR.
- Nonperforming loans $101.5M (0.70% of loans); criticized loans declined to $502.9M.
- Core net interest margin expanded to 3.31% in Q4 2024.
- Investment management revenue $10.8M (+9.8% YoY); AUA $7.0B.