Independent Bank Corp. reported fourth-quarter revenues of $240 million, a 44% increase from the prior year period. This surge was driven primarily by the October acquisition of Enterprise Bancorp, which added $60 million in net interest income and $15 million in non-interest revenue. Organic loan growth also contributed, with core loans rising 5% sequentially and total assets under management increasing to $17.5 billion.

Adjusted earnings per share came in at $1.70, surpassing consensus estimates of $1.65 and up from $1.21 in Q4 2024. Net interest margin expanded to 3.77%, a 10 basis-point sequential improvement and 35 basis-point year-over-year gain. Fee income remained resilient at $45 million, representing 18.8% of total revenue and supporting a 20% increase in pre-tax, pre-provision income to $95 million.

Nonperforming loans declined to 0.35% of total loans, down from 0.45% in the prior quarter, reflecting disciplined underwriting on the acquired loan portfolio. However, net charge-offs rose to 0.12% of loans compared with 0.08% a year ago, driven by modest deterioration in commercial real estate credits. The allowance for credit losses increased to $150 million, covering 1.10% of total loans and maintaining a coverage ratio above industry peers.

Tangible common equity ratio remained strong at 8.2%, above the regulatory well-capitalized threshold. Return on tangible common equity rebounded to 15.4%, more than double the 7.3% reported in Q3 2025, and return on assets rose to 1.75%. The board authorized a new $25 million share repurchase program, reflecting confidence in the bank’s capital generation and future profitability.