Independent Bank Corp. reported adjusted earnings of $1.70 per share for the fourth quarter of 2025, surpassing the Zacks Consensus Estimate of $1.65 and up from $1.21 a year earlier. Net income attributable to shareholders reached $75.3 million, or $1.52 per diluted share, compared with $34.3 million, or $0.69 per share, in the prior quarter. Excluding merger-related costs and the one-time credit loss provision tied to the Enterprise Bancorp acquisition, the company's bottom-line performance reflects robust operational leverage and successful integration efforts.

Total revenues climbed 44% year-over-year in Q4, driven primarily by the full-quarter contribution of Enterprise Bank and disciplined loan growth. Net interest margin expanded sequentially to 3.77%, up from 3.62% in Q3, as higher yielding acquired assets and repricing on core loan portfolios offset increased funding costs. Non-interest income also benefited from a 25% increase in mortgage banking fees and an uptick in treasury management service revenues following cross-selling initiatives.

Asset quality showed mixed trends: the nonperforming loan ratio improved to 0.45% of total loans, down from 0.53% in the prior quarter, while quarterly net charge-offs rose modestly to 0.12% of the loan book, reflecting seasoning of acquired credits. Return on average assets more than doubled to 1.25%, and return on tangible common equity rebounded to 18.4%, underscoring the company’s capital strength and enhanced profitability. Provision for credit losses of $12 million aligned with portfolio growth and continued reserve build for the acquired loan pool.