secwatch.observer — SEC 8-K summary
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Issuer:     INDEPENDENT BANK CORP (INDB)
CIK:        0000776901
Form:       8-K
Filed at:   2025-06-03T23:59:59+00:00
Accession:  0000776901-25-000201
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Q1 net income $44.4M ($1.04 EPS); elevated loan loss provision; Enterprise merger on track
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- Q1 2025 net income $44.4M, diluted EPS $1.04; operating EPS $1.06 (non-GAAP).
- Core net interest margin expanded 6 bps to 3.37%; deposits grew $370M (9.8% annualized).
- NPLs $89.5M; criticized & classified loans fell to 3.85% of commercial loans from 4.47%.
- $300M sub-debt raised in March 2025; tangible book value per share rose to $47.81.
- Enterprise Bancorp acquisition on track; pro forma entity would have $25B assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/776901/000077690125000201/0000776901-25-000201-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/776901/000077690125000201/indb-20250603.htm
  HTML page:      https://secwatch.observer/filing/0000776901-25-000201

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