INDEPENDENT BANK CORP

Non-Interest Income The following table sets forth information regarding non-interest income for the periods shown:

Table 16 - Non-Interest Income

The primary reasons for significant variances in the non-interest income categories shown in the preceding table are noted below:

•Deposit account fees were higher as a result of increases in overdraft and cash management fees, as well as increased volume attributable to the Enterprise acquisition.

•Interchange and ATM fees were higher primarily attributable to increased volume due to the Enterprise acquisition.

•The increase in investment management and advisory income is primarily attributable to higher asset-based revenue resulting from higher levels of assets under administration, which increased by $2.1 billion, or 28.8%, to $9.2 billion at

September 30, 2025, as compared to $7.2 billion at September 30, 2024, including the addition of $1.5 billion in assets under administration acquired from Enterprise. These increases were partially offset by lower insurance commission income for the three and nine months ended September 30, 2025, as compared to the same prior year periods.

•Mortgage banking income increased driven by higher origination volume as compared to the same prior year periods.

•The increases in cash surrender value of life insurance policies were primarily attributable to policies obtained in connection with the Enterprise acquisition.

•The Company received proceeds on life insurance policies resulting in a gain of $1.7 million during the nine months ended September 30, 2025 compared to $263,000 during the nine months ended September 30, 2024. No such gains were recorded during the third quarter of 2025 or 2024.

•Loan level derivative income increased for the three and nine months ended September 30, 2025 when compared to the same respective periods in 2024, driven primarily by fluctuations in customer demand resulting from changes in the macroeconomic environment.

•Other non-interest income for the third quarter of 2025 remained consistent with the third quarter of 2024, and decreased for the nine months ended September 30, 2025, as compared to the same prior year period, primarily attributable to decreases in FHLB dividend income of $1.1 million, decreased unrealized gain on equity securities of $613,000, and decreased realized gains on equity securities of $501,000. These decreases were partially offset by increases in credit card fee income of $327,000 and annual fees on commercial lines of credit of $230,000.