INDB presents updated Enterprise acquisition details and Q2 financials at Raymond James conference

INDEPENDENT BANK CORP

Enterprise acquisition closed July 1; systems conversion mid-Oct; full cost saves by Q1 2026.
Updated purchase accounting: loan mark $123M (down from $150M); TBV dilution (7.2%) vs prior (9.8%).
Q2 GAAP EPS $1.20, operating EPS $1.25; core NIM stable at 3.37%.
Nonperforming loans fell to $56.2M (0.39% of loans) from $89.5M in Q1; deposits grew $218M.
Q3 NIM guidance: standalone +4-6 bps plus purchase accounting +17-20 bps; $150M buyback, $20.3M executed.

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