Independent Bank (INDB) Tops Q2 EPS by 3c

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Go back to Independent Bank (INDB) Tops Q2 EPS by 3c

Independent Bank Corp. Reports Second Quarter Operating Net Income of $17.9 Million

July 16, 2015 4:05 PM EDT

ROCKLAND, Mass.--(BUSINESS WIRE)-- Independent Bank Corp. (NASDAQ: INDB), parent of Rockland Trust Company, today announced 2015 second quarter net income of $17.5 million, or $0.67 per diluted share as compared to $9.5 million, or $0.38 per diluted share in the prior quarter. The increase in the Companys earnings was largely attributable to merger and acquisition costs recognized during the first quarter of $6.3 million, net of tax, relating to the February 20, 2015 acquisition of Peoples Federal Bancshares, Inc. (Peoples). When excluding these expenses and other items that the Company considers to be non-core, net operating earnings for the second... More