Independent Bank (INDB) Tops Q3 EPS by 15c

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Go back to Independent Bank (INDB) Tops Q3 EPS by 15c

Independent Bank Corp. Reports Third Quarter Net Income of $71.9 Million

October 20, 2022 4:10 PM EDT

Higher revenues drive earnings growth

ROCKLAND, Mass.--(BUSINESS WIRE)-- Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2022 third quarter net income of $71.9 million, or $1.57 per diluted share, compared to 2022 second quarter net income of $61.8 million, or $1.32 per diluted share, driven primarily by strong net interest margin expansion and profitable deployment of liquid assets.

The Company generated a return on average assets and a return on average common equity of 1.43% and 9.90%, respectively, for the third quarter of 2022, as compared to 1.24% and... More