Independent Bank Corp. reported significant financial growth in its latest quarterly results, with net income reaching $81.8 million for the three months ended June 30, 2026, compared to $51.1 million for the same period in 2025. This translates to diluted earnings per share of $1.70, up from $1.20 a year earlier. The increase in profitability is attributed to the acquisition of Enterprise Bancorp Inc. in July 2025, which contributed to a rise in net interest income and an expanded net interest margin of 3.85%, up from 3.37% in the prior year.
Total assets for the company stood at approximately $25.0 billion as of June 30, 2026, reflecting a slight increase from $24.9 billion at the end of 2025. Total loans decreased by $109.5 million, or 0.6%, to $18.4 billion, primarily due to a reduction in the commercial real estate portfolio, which was partially offset by growth in the commercial and industrial sectors. Total deposits increased by $265.3 million, or 1.3%, to $20.4 billion, driven by growth in core deposits.
Operationally, the company has seen a rise in its wealth management services, with assets under administration increasing to $9.5 billion, up from $9.2 billion at the end of 2025. The number of trust, fiduciary, and agency accounts also grew to 7,868, compared to 7,843 in the previous quarter. The company has been active in repurchasing its common stock, with a total of 1.8 million shares repurchased in 2026 at an average price of $78.27.
The provision for credit losses decreased to $6.3 million for the second quarter of 2026, down from $7.2 million in the same quarter of 2025, reflecting improved asset quality. The allowance for credit losses increased to $195.9 million, representing 1.06% of total loans, compared to 1.03% at the end of 2025. Non-performing loans increased to $103.6 million, or 0.56% of gross loans, up from $83.6 million, or 0.45%, at the end of the previous quarter.
Looking ahead, Independent Bank Corp. remains focused on organic growth while considering further acquisition opportunities that align with its strategic goals. The company is also actively managing its interest rate risk and liquidity, ensuring it maintains a strong capital position to support future growth initiatives.
About INDEPENDENT BANK CORP
Independent Bank Corp. is a Massachusetts-based bank holding company operating Rockland Trust, which provides a broad range of banking, lending, investment, and financial services. Its primary markets are Eastern Massachusetts, Worcester County, and Rhode Island, serving small-to-upper middle market businesses and consumers. The company emphasizes community engagement, employee development, and a competitive, customer-focused business model rooted in traditional banking complemented by digital services.
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