INDEPENDENT BANK CORP

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

Table 14 - 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 lower for the third quarter of 2026, driven primarily by one-time vendor credits recognized in the third quarter of 2025, while year-to-date activity for 2026 was higher driven by increased volume from the Enterprise acquisition.

•Investment management and advisory income was higher compared to the same prior year periods due to higher asset-based revenue attributable to higher levels of assets under administration, including the addition of $1.5 billion in assets under administration acquired from Enterprise on July 1, 2025. Overall assets under administration also increased by $285.7 million, or 3.1%, to $9.5 billion at September 30, 2026, as compared to $9.2 billion at September 30, 2025.

•Mortgage banking income was lower for the third quarter of 2026, primarily due to lower saleable loan volume, and was generally consistent on a year-to-date basis for 2026 as compared to the same prior year period.

•Increases in cash surrender value of life insurance policies were generally consistent for the third quarter of 2026 and higher on a year-to-date basis due primarily to policies obtained in connection with the Enterprise acquisition.

•The Company received proceeds on life insurance policies resulting in gains of $180,000 and $1.2 million during the three and nine months ended September 30, 2026, respectively. No such gains were recognized for the three months ended September 30, 2025, while gains of $1.7 million were recognized during the nine months ended September 30, 2025.

•Loan level derivative income decreased during the third quarter of 2026 and increased for the first nine months of 2026 as compared to the same prior year periods primarily due to fluctuations in customer demand resulting from changes in the macroeconomic environment.

•Other non-interest income was generally consistent for the third quarter of 2026 as compared to the same prior year period and was higher for the first nine months of 2026 compared to the same prior year period, primarily attributable to increases in payment processing income of $587,000, credit card fee income of $547,000, and income from other investments of $503,000, partially offset by a $500,000 decrease in FHLB dividend income.