INDEPENDENT BANK CORP
For the period ended Jun 30, 2025. Filed Aug 5, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 5, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table 10 - Summary of Results of Operations
| Three Months Ended June 30 | Six Months Ended June 30 | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| (Dollars in thousands, except per share data) | ||||
| Net income | $51,101 | $51,330 | $95,525 | $99,100 |
| Diluted earnings per share | $1.20 | $1.21 | $2.24 | $2.33 |
| Return on average assets | 1.04% | 1.07% | 0.98% | 1.03% |
| Return on average equity | 6.68% | 7.10% | 6.32% | 6.87% |
| Net interest margin | 3.37% | 3.25% | 3.40% | 3.24% |
Net Interest Income The amount of net interest income is affected by changes in interest rates and by the volume, mix, and interest rate sensitivity of interest-earning assets and interest-bearing liabilities.
On a fully tax equivalent basis (“FTE”), net interest income for the second quarter of 2025 was $148.7 million, representing an increase of $9.5 million, or 6.9%, when compared to the second quarter of 2024. For the six months ended June 30, 2025, the net interest income on a FTE basis was $295.3 million, representing an increase of $17.6 million, or 6.3%, when compared to the six months ended June 30, 2024. The 2025 increase in net interest income was primarily attributable to higher yields on interest-earnings assets and decreased funding costs, resulting in a net interest margin of 3.37% and 3.40% for the three and six months ended June 30, 2025, respectively, representing increases of 12 basis points and 16 basis points, respectively, compared to the same prior year periods.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.