Independent Bank Corp completes acquisition of Enterprise Bancorp; pro forma assets $25.05B

INDEPENDENT BANK CORP

Total consideration ~$503M: 0.60 INDB shares + $2 cash per Enterprise share; closed July 1, 2025.
Pro forma 6mo Jun'25 net income $98.7M ($1.97 diluted EPS); FY24 net income $219.2M ($4.38 diluted EPS).
Goodwill of $101.2M and $123.1M core deposit intangibles recorded in preliminary purchase allocation.
Pro forma deposits $20.26B, loans $18.46B, allowance $194M as of June 30, 2025.
Merger costs estimated at $47.3M post-tax; includes $34M change-in-control and severance.

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