Independent Bank Corp Q4 adj EPS beats estimates, helped by rise in non-interest margin
Overview
Massachusetts-based bank's Q4 adjusted EPS beat analyst expectations
Net income for Q4 rose significantly compared to the previous quarter
Company repurchased 548,000 shares for $37.5 mln during Q4
Outlook
Company did not provide specific guidance for future quarters or full year in press release
Result Drivers
ACQUISITION IMPACT - Successful integration of Enterprise Bancorp acquisition contributed to financial performance improvement, per CEO Jeffrey Tengel
NET INTEREST MARGIN - Net interest margin increased by 15 basis points due to lower deposit costs
NONINTEREST INCOME - Increase driven by realized investment income and gains from life insurance policies
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Adjusted EPS | Beat | $1.70 | $1.65 (5 Analysts) |
Q4 EPS |
| $1.52 |
|
Q4 Net Income |
| $75.34 mln |
|
Q4 Net Interest Income |
| $212.49 mln |
|
Q4 Net Interest Margin |
| 3.77% |
|
Press Release: ID:nBw5kjHBla
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
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