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Midas Edge

INDEPENDENT BANK CORP

For the period ended Jun 30, 2026. Filed Aug 6, 2026.

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About 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.

Jun 30, 2026 · Filed Aug 6, 2026

INDB$85.28+1.4%Stored close · as of Nov 9, 2026

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Contents

Table 14 - Non-interest Income

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

Table 14 - Non-Interest Income

Three Months Ended
June 30 · Change
20262025Amount%
(Dollars in thousands)
Deposit account fees$9,393$7,141$2,25231.54%
Interchange and ATM fees5,6864,99768913.79%
Investment management and advisory14,96111,3803,58131.47%
Mortgage banking income1,1741,0721029.51%
Increase in cash surrender value of life insurance policies2,6362,03859829.34%
Gain on life insurance benefits6721,650(978)(59.27)%
Loan level derivative income1,317661,2511,895.45%
Other non-interest income6,5525,9645889.86%
Total$42,391$34,308$8,08323.56%
Six Months Ended
June 30 · Change
20262025Amount%
(Dollars in thousands)
Deposit account fees$18,642$14,194$4,44831.34%
Interchange and ATM fees10,7049,6191,08511.28%
Investment management and advisory29,12622,6006,52628.88%
Mortgage banking income2,4441,81363134.80%
Increase in cash surrender value of life insurance policies5,3484,1031,24530.34%
Gain on life insurance benefits1,0181,650(632)(38.30)%
Loan level derivative income2,2271,1081,119100.99%
Other non-interest income13,14311,7601,38311.76%
Total$82,652$66,847$15,80523.64%

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 attributable to the Enterprise acquisition.

Mortgage banking income increased, driven primarily by higher origination volumes as compared to the same prior year periods.

The increase in investment management and advisory income was primarily driven by higher asset-based revenue attributable to higher levels of assets under administration, which increased by $2.1 billion, or 28.7%, to $9.5 billion at June 30, 2026, as compared to $7.4 billion at June 30, 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 half 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 gains of $672,000 and $1.0 million during the three and six months ended June 30, 2026, respectively, as compared to $1.7 million for both the three and six months ended June 30, 2025.

Loan level derivative income increased due to higher customer demand.

Other non-interest income was higher for the three and six months ended June 30, 2026, primarily attributable to increases in credit card fee income of $235,000 and $462,000, respectively, and increases in payment processing income of $177,000 and $397,000, respectively. Additionally, income from other investments increased $441,000 during the first half of 2026 as compared to the prior year period.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.