earnings
confidence high
sentiment positive
materiality 0.75
Independent Bank posts Q3 operating EPS $1.55; Enterprise acquisition boosts NIM to 3.62%
INDEPENDENT BANK CORP
2025-Q3 EPS reported
$2.88
- GAAP net income $34.3M ($0.69 diluted EPS); operating net income $77.4M ($1.55 diluted EPS).
- Net interest margin up 25 bps QoQ to 3.62%; loans +27% to $18.5B, deposits +27.7% to $20.3B.
- Completed Enterprise Bancorp acquisition July 1; acquired $3.9B loans and $4.4B deposits for $503M consideration.
- Pre-tax merger costs $23.9M; provision for credit losses included $34.5M from acquiring Enterprise non-PCD loans.
- Repurchased ~365K shares for $23.4M; tangible book value $46.63 per share, down 4.4% QoQ.