INDEPENDENT BANK CORP
For the period ended Sep 30, 2025. Filed Nov 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.
Sep 30, 2025 · Filed Nov 5, 2025
INDB$85.28+1.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
| Table of Contents | |
|---|---|
| PAGE | |
| PART I. FINANCIAL INFORMATION | |
| Item 1. Financial Statements (unaudited) | |
| Consolidated Balance Sheets - September 30, 2025 and December 31, 2024 | 5 |
| Consolidated Statements of Income - Three and nine months ended September 30, 2025 and 2024 | 7 |
| Consolidated Statements of Comprehensive Income -Three and nine months ended September 30, 2025 and 2024 | 8 |
| Consolidated Statements of Stockholders’ Equity - Three and nine months ended September 30, 2025 and 2024 | 9 |
| Consolidated Statements of Cash Flows - Nine months ended September 30, 2025 and 2024 | 11 |
| Notes to Consolidated Financial Statements - September 30, 2025 | |
| Note 1 - Basis of Presentation | 13 |
| Note 2 - Recent Accounting Standards Updates | 13 |
| Note 3 - Acquisition | 13 |
| Note 4 - Securities | 16 |
| Note 5 - Loans, Allowance for Credit Losses and Credit Quality | 21 |
| Note 6 - Borrowings | 32 |
| Note 7 - Stock Based Compensation | 32 |
| Note 8 Derivative and Hedging Activities | 33 |
| Note 9 - Fair Value Measurements | 39 |
| Note 10 - Revenue Recognition | 46 |
| Note 11 - Other Comprehensive Income (Loss) | 49 |
| Note 12 - Commitments and Contingencies | 50 |
| Note 13 - Segment Information | 51 |
| Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 51 |
| Table 1 - Closed Residential Real Estate Loans | 66 |
| Table 2 - Residential Mortgage Loan Sales | 66 |
| Table 3 - Mortgage Servicing Asset | 67 |
| Table 4 - Components of Loan Growth/(Decline) | 67 |
| Table 5 - Non-performing Assets | 72 |
| Table 6 - Activity in Non-performing Assets | 72 |
| Table 7 - Summary of Net Charge-Offs/(Recoveries) to Average Loans Outstanding | 74 |
| Table 8 - Summary of Allocation of Allowance for Credit Losses | 75 |
| Table 9 - Components of Deposit Growth/(Decline) | 77 |
| Table 10 - Company and Bank’s Capital Amounts and Ratios | 78 |
| Table 11 - Assets Under Administration | 79 |
| Table 12 - Summary of Results of Operations | 80 |
| Table 13 - Average Balance, Interest Earned/Paid & Average Yields Quarter-to-Date | 81 |
| Table 14 - Average Balance, Interest Earned/Paid & Average Yields Year-to-Date | 83 |
| Table 15 - Volume Rate Analysis | 85 |
| Table 16 - Non-interest Income | 86 |
| Table 17- Non-interest Expense | 88 |
| Table 18 - Tax Provision and Applicable Tax Rates | 89 |
| Table 19 - Liquidity Sources | 91 |
| Table 20 - Interest Rate Sensitivity | 92 |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk | 94 |
|---|---|
| Item 4. Controls and Procedures | 94 |
| PART II. OTHER INFORMATION | 94 |
| Item 1. Legal Proceedings | 94 |
| Item 1A. Risk Factors | 94 |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds | 94 |
| Item 3. Defaults Upon Senior Securities | 95 |
| Item 4. Mine Safety Disclosures | 95 |
| Item 5. Other Information | 95 |
| Item 6. Exhibits | 95 |
| Signatures | 97 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.