INDEPENDENT BANK CORP
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
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Table 7 - Mortgage Servicing Asset
The following table shows the adjusted cost of the servicing rights associated with these loans and the changes for the periods indicated:
Table 7 - Mortgage Servicing Asset
| 2025 | 2024 | |
|---|---|---|
| (Dollars in thousands) | ||
| Beginning balance | $2,466 | $2,641 |
| Additions | 103 | 56 |
| Amortization | (348) | (392) |
| Change in valuation allowance | (12) | 161 |
| Ending balance | $2,209 | $2,466 |
See Note 10, “Derivatives and Hedging Activities,”within the Notes to Consolidated Financial Statements included in Item 8 of this Report for more information on mortgage activity and mortgage related derivatives.
Loan Portfolio The Company’s total loan portfolio at December 31, 2025 increased $4.0 billion, or 27.5%, when compared to December 31, 2024, primarily due to the Enterprise acquisition. On the commercial side, the commercial and industrial portfolio increased organically by 9.1% but was offset by a decline in the commercial real estate and commercial construction portfolios. Organically, the consumer real estate portfolio increased by 1.2%, driven by growth within the home equity portfolio.
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