Independent Bank Reports 4.5% YoY Increase in Q4 Net Interest Income
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 22 2026
0mins
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."
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Analyst Views on INDB
Wall Street analysts forecast INDB stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for INDB is 80.75 USD with a low forecast of 76.00 USD and a high forecast of 84.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
2 Buy
2 Hold
0 Sell
Moderate Buy
Current: 80.530
Low
76.00
Averages
80.75
High
84.00
Current: 80.530
Low
76.00
Averages
80.75
High
84.00
About INDB
Independent Bank Corp. is the holding company of Rockland Trust Company (the Bank). With retail branches in Eastern Massachusetts, Worcester County, and Southern New Hampshire, as well as commercial banking and investment management offices in Massachusetts, New Hampshire, and Rhode Island, the Bank offers a wide range of banking, investment, and insurance services to individuals, families, and businesses. The Bank also offers a full suite of mobile, online, and telephone banking services. The Bank's commercial, consumer real estate, and other consumer loan portfolios consist of loans made to residents and businesses located in the Bank's market area. Its commercial loans consist of commercial real estate loans, commercial construction loans, commercial and industrial loans, and small business loans. The Bank's consumer portfolio consists of real estate loans comprised of residential mortgages and home equity loans and lines, all secured by one-to-four family residential properties.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Independent Bank Corp. (INDB) Reports 60% EPS Growth in Q4 2025
- Performance Highlights: In Q4 2025, Independent Bank Corp. reported a net income of $75.3 million and diluted EPS of $1.52, reflecting a 60% year-over-year increase, demonstrating ongoing progress in restoring the bank's historically strong performance.
- Loan Growth: Commercial and industrial loans grew organically by 9% in 2025, now representing 25% of total loans compared to 22% at the end of 2024, indicating the bank's success in expanding its loan portfolio.
- Cost Control: Net interest income increased by $9.1 million to $212.5 million for the quarter, with the net interest margin rising to 3.77%, reflecting effective strategies in cost management and revenue optimization.
- Future Outlook: Management anticipates a return on average assets of 1.4% for 2026, with plans for core deposit and loan growth in the low to mid-single digits, showcasing confidence in future profitability.
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Independent Bank (INDB) Earnings Call Transcript
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