Independent Bank (INDB) Earnings Call Transcript
Independent Bank (INDB) reported a GAAP net income of $79.9 million and diluted EPS of $1.63, with a return on assets of 1.31%. The bank's loan growth is constrained by economic uncertainty, and management cautioned about challenges in the office portfolio. The quarterly dividend was raised by 8.5% to $0.64 per share. The bank's net interest margin increased to 3.9%, and total commercial loans decreased by $50 million. The provision for loan losses was $5.5 million, and criticized loans rose to 4% of total commercial loans. Wealth management assets remained flat at $9.2 billion.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: nasdaq The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments