Independent Bank Reports 4.5% YoY Increase in Q4 Net Interest Income
Reports Q4 net interest income up 4.5% y/y at $212.5M. The net interest margin of 3.77% increased 15 basis points when compared to the prior quarter, and the adjusted margin of 3.64% increased 10 basis points, driven primarily by lower deposit costs. "Our fourth quarter results reflect ongoing growth in the Bank's financial performance, bolstered by the successful integration of our recent Enterprise acquisition," said Jeffrey Tengel, the Chief Executive Officer of Independent Bank Corp. and Rockland Trust Company. "I am grateful to our colleagues for their exceptional teamwork and steadfast commitment to creating meaningful, lasting relationships with our customers. We are energized and well positioned to build on our momentum in the new year."
