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Independent Bank (INDB)
NASDAQ:INDB
Earnings Data
Report Date
Apr 17, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
1.17Last Year’s EPS
1.12Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Apr 17, 2025
|% Change Since: 3.94%
|Next Earnings Date:Jul 17, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with strong revenue growth, strategic progress, and recognition in the market. However, the elevated credit costs and economic uncertainty present challenges. The highlights and lowlights are relatively balanced.Company Guidance
During the first quarter of 2025, Independent Bank Corp reported solid pre-provision net revenue (PPNR) growth, driven by improvements in net interest margin, strong fee revenue, and well-controlled expenses. The PPNR return on average assets (ROAA) was 1.52% on an operating basis, with tangible book value increasing by 1.8% from the previous quarter and 7.8% year-over-year. Despite these positive results, elevated credit costs were noted due to ongoing resolutions of non-performing loans (NPLs), with significant progress expected in the second quarter. The company continued its strategic focus on reducing commercial real estate concentration, resulting in a 2.1% increase in commercial and industrial loans and a 1.2% decrease in commercial real estate and construction loan balances. The bank also reported a 2.8% year-over-year increase in non-time deposits and maintained a cost of deposits at 1.56%. Wealth Management saw nearly 1% growth in assets under administration (AUA), reaching $7 billion, with investment management revenues up 4% from the prior quarter. Additionally, the anticipated acquisition of Enterprise Bancorp is on track to close in the third quarter, expected to add $1.5 billion in AUA and further enhance cross-sell opportunities.PPNR Growth and Improved Tangible Book Value
Pre-provision net revenue (PPNR) growth was strong, driven by net interest margin improvement and well-controlled expenses. Tangible book value improved by 1.8% from the fourth quarter and 7.8% from the year-ago quarter.
Deposit Growth and Wealth Management Success
Non-time deposits increased by 3.2% from the fourth quarter, showcasing the strength of the deposit franchise. Wealth Management business grew AUA by nearly 1% in the first quarter to $7 billion, with organic growth totaling $41 million.
Strategic Progress and Enterprise Acquisition
Continued progress on strategic priorities with a reduction in commercial real estate concentration and a shift towards C&I. The pending acquisition of Enterprise is on track, with most customer-facing employees accepting offers to remain post-close.
Recognition and Market Position
Rockland Trust was named a top place to work in Massachusetts for the 16th consecutive year and ranked number two in New England in the 2025 J.D. Power Retail Banking Satisfaction Study.
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INDB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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INDB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Apr 17, 2025 | $55.84 | $54.62 | -2.18% |
| Jan 16, 2025 | $63.32 | $66.41 | +4.88% |
| Oct 17, 2024 | $63.92 | $60.46 | -5.41% |
| Jul 18, 2024 | $55.06 | $56.45 | +2.52% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Independent Bank (INDB) report earnings?
Independent Bank (INDB) is schdueled to report earning on Apr 17, 2025, TBA Not Confirmed.
What is Independent Bank (INDB) earnings time?
Independent Bank (INDB) earnings time is at Apr 17, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is INDB EPS forecast?
INDB EPS forecast for the fiscal quarter 2025 (Q1) is 1.17.
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