---
schema_version: "secwatch.filing_event.v1"
accession: "0000776901-25-000144"
form_type: "8-K"
ticker: "INDB"
cik: "0000776901"
company_name: "INDEPENDENT BANK CORP"
filed_at: "2025-04-17T23:59:59+00:00"
generated_at: "2026-05-23T12:42:19.692393+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Independent Bank Q1 net income $44.4M, down 11% QoQ; charge-offs surge to $40.9M

## Summary
- GAAP diluted EPS $1.04 vs $1.18 prior quarter; operating EPS $1.06 vs $1.21.
- Net interest margin expanded 9 bps to 3.42%; deposits grew $370M to $15.7B.
- Net charge-offs surged to $40.9M (1.14% annualized) from $1.2M, driven by three commercial loans.
- Provision for credit losses rose to $15.0M from $7.5M; allowance/loans ratio fell to 0.99% from 1.17%.
- Issued $300M subordinated notes (7.25% fixed, due 2035) and increased quarterly dividend by 4%.

## SEC filing metadata
- accession: 0000776901-25-000144
- form_type: 8-K
- ticker: INDB
- cik: 0000776901
- company_name: INDEPENDENT BANK CORP
- filed_at: 2025-04-17T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/776901/000077690125000144/0000776901-25-000144-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/776901/000077690125000144/indb-20250417.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000776901-25-000144
- JSON: https://secwatch.observer/filing/0000776901-25-000144.json
- Plain text: https://secwatch.observer/filing/0000776901-25-000144.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.