The latest announcement is out from Independent Bank ( (INDB) ).
Independent Bank Corp. reported a third-quarter net income of $42.9 million, a drop from the previous quarter due to increased loan loss provisions. Despite these challenges, the company saw higher revenues, increased deposits, and maintained asset quality. The bank remains optimistic about future profitability, anticipating benefits from potential Federal Reserve interest rate cuts. The financial stability is reflected in the growth of tangible book value and core deposit expansion, positioning the bank for continued success in a challenging economic environment.
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