INDEPENDENT BANK CORP

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

Table 13 - 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 due to increased volume due to the Enterprise acquisition.

•Mortgage banking income increased, driven by increased origination volumes and a higher ratio of new originations sold in the secondary market versus held in portfolio as to the same prior year period.

•The increase in investment management and advisory income was primarily due to higher asset-based revenue attributable to higher levels of assets under administration, which increased by $2.1 billion, or 29.2%, to $9.2 billion at March 31, 2026, as compared to $7.1 billion at March 31, 2025, including the addition of $1.5 billion in assets under administration acquired from Enterprise on July 1, 2025. The Company also generated higher insurance commission income during the first quarter of 2026, as compared to the same prior year period.

•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 $346,000 during the three months ended March 31, 2026. No such gains were recorded during the first quarter of 2025.

•Other non-interest income increased, driven primarily by increases in income from other investments of $442,000, credit card fee income of $227,000, and payment processing income of $219,000.