Independent Bank Corp's Q2 net interest income up 7.9%
Overview
Independent Bank Q2 net income declines to $16.9 mln from $18.5 mln last year
Net interest income rises 7.9% yr/yr, driven by margin expansion
Non-interest income falls due to lower equity securities gains
Outlook
Independent Bank optimistic about growth prospects for 2025 and 2026
Company cites strategic investments driving operational scale improvements
Independent Bank sees strong credit metrics despite market uncertainties
Company continues to expand through new customer relationships and technology
Result Drivers
NET INTEREST INCOME - Increase driven by higher average interest-earning assets and margin expansion
LOAN GROWTH - Net growth in loans of $91.7 mln, or 9.0% annualized, from March 31, 2025
NON-INTEREST INCOME DECLINE - Decrease due to lower equity securities gains and mortgage banking revenue changes
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $0.81 |
|
Q2 Net Income |
| $16.90 mln |
|
Q2 Net Interest Income |
| $44.60 mln |
|
Press Release: ID:nGNXk89k0
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