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Independent Bank ( (INDB) ) has provided an update.
Independent Bank Corp. reported a fourth-quarter net income of $50.0 million in 2024, showing an increase from the prior quarter. This growth was driven by increased net interest income and reduced tax rates, despite incurring merger-related costs due to the pending acquisition of Enterprise Bancorp, Inc. The bank maintained stable asset quality and demonstrated strategic growth through loan and deposit management, which included a healthy remix of assets and a cautious approach to commercial real estate lending.
More about Independent Bank
Independent Bank Corp., the parent company of Rockland Trust Company, operates in the financial services industry. The company primarily offers banking services and products, focusing on areas such as net interest income growth, asset quality, and strategic acquisitions.
YTD Price Performance: 2.55%
Average Trading Volume: 277,289
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $2.7B
For detailed information about INDB stock, go to TipRanks’ Stock Analysis page.
