INDEPENDENT BANK CORP

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

Table 21 - 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 than the year ago period as a result of increases in overdraft and cash management fees, as well as increased volume attributable to Enterprise acquisition.

•Interchange and ATM fees increased year-over-year primarily due to increased volume due to the Enterprise acquisition and timing of vendor rebates.

•Investment management and advisory income increased year-over-year, and is primarily attributable to higher asset-based revenue resul ting from higher levels of assets under administration, which increased by $2.2 billion, or 31.0%, from $7.0 billion at December 31, 2024 to $9.2 billion at December 31, 2025, including the addition of $1.5 billion in assets under administration acquired from Enterprise. This increase was partially offset by lower insurance commissions recognized in 2025 as compared to 2024.

•Mortgage banking income increased year-over-year, driven by higher origination volume as compared to the same prior year period.

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

•Gain on life insurance benefits increased year-over-year as the Company received higher levels of proceeds on life insurance policies.

•Loan level derivative income increased year-over-year, reflecting fluctuations in customer demand fueled by changes in the macroeconomic environment.

•Other noninterest income increased year-over-year, driven primarily by business owner advisory services of $533,000, credit card fee income of $502,000, checkbook fees of $319,000, and payment processing income of $294,000. These increases were partially offset by decreases in FHLB dividend income and less equity securities unrealized gains.