🇺🇸 SECIndependent Bank Corp.Qwen · 实盘不做把握 8/10不做原因:无增量信息
北京时间·🕒 发布 04:37:50待核·⟳ 抓取 04:38:03·⚡ 决策 09-09 06:02:02 +1h23m·49.0 天前
Independent Bank Corp.（INDB.US）以 Item 7.01 Reg FD 形式提交将于 9 月 9 日 Raymond James 银行会议使用的投资者演示材料，全部为已披露的二季度数据且 2026 年各项指引标注「No change」
本次 8-K 是会议演示材料的 Reg FD 备案，正文与 Exhibit 99.1 全部复述已公开的 Q2 2026 结果，并明确将 2026 年七项指引方向标注为 No change；唯一新增的是 Q3 回购执行进度与商业贷款管道环比数字，均属常规经营披露、相对 39 亿美元市值不构成重大 surprise，既无正向也无负向可交易增量，因此不做多、不做空、不生成风险信号
📄 原文Independent Bank Corp.↗ 原文
----- indb-20260908.htm ----- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current…
不做 Independent Bank Corp.（INDB.US）
Item 7.01 Reg FD 会议材料备案，正文与 Exhibit 99.1 全为已公开的 Q2 2026 数据（EPS 1.70 美元、调整后 NIM 3.76%、TBVPS 48.34 美元），且第 18 页 2026 年七项指引方向全部标注 No change，无任何新增业绩、指引、并购、融资或监管事实；Q3 回购执行进度与 6 月 30 日商业管道 +62.9% 属常规经营披露，相对 39 亿美元市值不构成短线预期差。信用指标变化为既有趋势延续，不满足做空红线，…
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
事实：SEC EDGAR 一手 8-K（Item 7.01 + 9.01，Exhibit 99.1 演示稿），提交于 2026-09-08 20:37 UTC，美股当日 16:00 收盘后。影响链：会议演示稿的信息功能是向卖方分析师复述既有基本面，不改变盈利、资本、信用或指引路径——第 18 页指引表七项 Direction 全部为 No change，Q4 NIM 目标区间仍为 3.90%–3.95%；第 6–7、24–27 页的 EPS 1.70 美元、调整后 NIM 3.76%、TBVPS 48.34 美元、TCE/TA 9.69% 均为 6 月 30 日已披露数据。证据：跨源已处理消息检索 72 小时返回 0 条候选，说明这不是重复推送，但重复与否不改变其本身缺乏增量；演示稿内部唯一的时点更新（Q3 至 9 月 3 日回购 678,891 股/5,744 万美元、已批准商业管道 5.10 亿美元环比 +62.9%、10 月核心系统升级、Enterprise 成本节约达标、6 月马州租金管制议案被法院否决）都是既有战略与既有政策的执行进度，量级相对 39 亿美元市值不足以形成短线预期差，且回购为持续进行的既定资本返还、管道数字截至 6 月 30 日。价格/风险层：NPL 比率与批评分类贷款的变化属延续性趋势而非新冲击，不满足「事实性净损害 + 净影响 + 自动风控重大性」三重
🔎 新鲜度:最早出现 2026-09-08 · 扩散 low · price-in 风险 high ↗
关键理由
- 该 8-K 仅为会议演示材料的 Reg FD 备案，Item 7.01/9.01 结构本身即表明无业绩、合同、并购或监管类重大事项
- 演示稿第 18 页将贷款、存款、净息差、资产质量、非息收入、非息费用与税率七项 2026 指引方向全部标为 No change，未产生任何预期差
- 新增的 Q3 回购执行额与 6 月 30 日商业贷款管道数字属常规经营进度披露，相对 39 亿美元市值不构成短线可交易催化
主要风险
- 演示稿口径的信用指标呈缓慢恶化倾向（NPL/贷款由 0.52% 升至 0.56%、CRE/资本由 283% 降至 278%），若后续季度确认恶化才会成为真正利空，本事件不构成
- 2026 年 10 月核心系统升级存在执行风险，但公司已把 500–600 万美元一次性费用纳入既定指引，未构成新增不确定性
反向证据
- 做多前查反向 · 来源 filing · 日期 2026-09-08 · 影响 none
确有四项偏正面的细节：Q3 至 9 月 3 日回购 678,891 股/5,744 万美元（均价 84.61 美元，高于 Q2 的 77.79 美元）、6 月 30 日已批准商业管道 5.10 亿美元环比 +62.9%、Enterprise 收购目标成本节约已达成、马州租金管制议案 6 月被法院否决；但回购属持续性既定资本返还、管道数字截至 6 月 30 日已随 Q2 披露期过去、成本节约达标属整合进度确认、租金管制否决为既有法律结果回顾，四项均无新增金额指引，叠加七项指引
检索:INDB 演示稿中是否存在被标题掩盖的正向增量（回购加速、管道跳增、成本节约提前达成、租金管制被否） 原文 ↗ - 做空前查反向 · 来源 filing · 日期 2026-09-08 · 影响 none
未发现可支撑做空的强催化：NPL/贷款 0.56%、批评分类贷款 5.456 亿美元（占商业贷款 3.86%，环比由 4.04% 改善）、拨备/贷款 1.06%、CRE/资本 278%（由 283% 下降）均为既有趋势的延续披露，公司同时明确「资产质量指标稳定」的指引未变，且证券组合未实现亏损仅 AFS 7,100 万 / HTM 9,300 万美元，占 250 亿美元总资产比例极小；无正式下调指引、无减值、无监管处罚、无融资缺口，不满足做空红线①，也不通过 risk_sig
检索:演示稿是否含新披露的公司级净负面事实（信用恶化、指引下调、融资缺口、监管动作）以支撑做空或 risk_signals 原文 ↗
先例如何影响了这次决策
对本次决策的影响:未改变结论。事件在第 4 步之前即已因「无增量事实」定性为 NEUTRAL，先例研究不会改变做/不做、方向或标的，故按调用前检查原则未消耗检索与 event_study
方向:未构建先例面板：本次披露不含指引调整、业绩 surprise、并购或监管动作，不存在需要用历史价格反应来校准幅度或胜率的方向性判断
涨幅量级:无——缺乏需要对齐幅度的增量事实，任何先例涨幅都无法映射到一份维持原指引的会议演示稿上
形态:不适用；本次未做方向性交易，故无需评估见光死或高开低走模式
工具执行结果 · 成功 1 · 降级 0 · 失败 0 · 取消 0
- search_processed_events 成功 stock_tools HTTP · 70 ms
{"result": "search_processed_events:agent query=`indb 2026 guidance unchanged nim 3.90%-3.95% enterprise bancorp acquisition | independent bank corp indb 8-k item 7.01 investor presentation raymond james conference | independent `；结构化索引覆盖完整 72 小时；旧记录兼容扫描近 65.4/72 小时、908 条本臂决策(完整)，返回 0 条候选。未命中只表示这些 a
原文全文
展开原文 · 37,242 字
----- indb-20260908.htm -----
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
Current Report Pursuant to Section 13 or 15 (d) of
The Securities and Exchange Act of 1934
DATE OF REPORT:
September 8, 2026
(Date of Earliest Event Reported)
Massachusetts
(State or Other Jurisdiction of Incorporation)
1-9047
04-2870273
(Commission File Number)
(I.R.S. Employer identification No.)
INDEPENDENT BANK CORP.
Office Address:
2036 Washington Street,
Hanover,
Massachusetts
02339
Mailing Address:
288 Union Street,
Rockland,
Massachusetts
02370
(Address of principal executive offices, including zip code)
NOT APPLICABLE
(Former Address of Principal Executive Offices)
(
781
)-
878-6100
(Registrant’s Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each Class
Trading Symbol
Name of each exchange on which registered
Common Stock, $0.01 par value per share
INDB
NASDAQ Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17CFR 230.405)) or Rule 12b-2 of the Exchange Act (17CFR 240.12b-2).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act.
☐
ITEM 7.01
REGULATION FD DISCLOSURE
Attached as Exhibit 99.1 hereto is a copy of an investor presentation that will be used at the Raymond James 2026 U.S. Bank & Banking on Tech Conferences on Wednesday, September 9, 2026.
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS
d. The following exhibits are included with this Report:
Exhibit Index
Exhibit #
Exhibit Description
99.1
Independent Bank Corp. presentation materials that will be used at the Raymond James 2026 U.S. Bank & Banking on Tech Conferences
104
Cover page interactive data file (embedded within the Inline XBRL document).
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned and hereunto duly authorized.
INDEPENDENT BANK CORP.
Date:
September 8, 2026
By:
/s/Mark J. Ruggiero
MARK J. RUGGIERO
CHIEF FINANCIAL OFFICER
----- investorpresentationslid.htm -----
EX-99.1
2
investorpresentationslid.htm
EX-99.1 - RAYMOND JAMES INVESTOR PRESENTATION
investorpresentationslid
Exhibit 99.1 Jeff Tengel Chief Executive Officer Mark Ruggiero Chief Financial Officer & EVP/Consumer Lending Raymond James 2026 U.S. Bank & Banking on Tech Conferences September 9, 2026
2 Who We Are Independent Bank Corp. (Nasdaq: INDB) • Main Banking Subsidiary: Rockland Trust • Massachusetts based; New England focused Key Metrics as of June 30, 2026 $25.0 B TOTAL ASSETS $18.4 B LOANS $20.4 B DEPOSITS $9.5 B WEALTH MANAGEMENT $3.9 B MARKET CAP* *as of September 3, 2026
3 Our Corporate Promises: We remain committed to our colleagues, customers, community and shareholders. This connects our purpose to everything we do. It transforms what banking means from a mere transaction to the chance to make a positive difference in the lives of others. This motivates our colleagues to do the best we can for every customer and cultivate sustainable value creation over the long-term. CULTURE | BRAND | VALUES Where Each Relationship Matters® Customers Colleagues ShareholdersCommunity Being the Bank Where Each Relationship Matters® is foundational to our vision We Are the Bank Where Each Relationship Matters®
4 Safe & Sound Customer Centric • Full suite of retail banking, commercial banking, and wealth product offerings • Relationship-oriented commercial lending with strong local market knowledge and presence • Exceptional third party customer service recognition in both commercial and retail • Strong brand awareness and reputation Attractive Market • Top performing MA-based bank with scale and density • Supported by strong demographics and vitality in key markets served • Depth of market offers opportunities for continued growth • The Enterprise acquisition added density to existing markets and expands the Rockland franchise into Northern MA and Southern NH Strong, Resilient Franchise; Well Positioned for Growth High Performing • Consistent, strong profitability • Focused on maintaining good margins • Fee income contribution from scalable wealth franchise • Focused on operating leverage • History of organic capital generation • Strong balance sheet • Prudent interest rate and liquidity risk management • Significant capital buffer • Diversified, low-cost deposit base • Experienced commercial lender with conservative credit culture • Proven operator and acquiror Company Overview
5 Recent Awards Consistent recognition across employee experience, financial performance, and community impact.
6 Earnings Growth & Profitability Enhancement (1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures. Operating Pre-Provision Net Revenue ROAA 1.53% 1.70% 1.78% 1.85% 1.85% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 —% 2.00% Operating ROAA 1.09% 1.23% 1.34% 1.35% 1.34% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 —% 2.00% Operating ROATCE 10.35% 13.22% 14.30% 14.05% 14.05% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 —% 5.00% 10.00% 15.00% Operating EPS $1.25 $1.55 $1.70 $1.68 $1.70 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 $— $2.00 (1) (1) (1) (1)
7 ($ in millions, except per share) Q2’26 Q2’26 Operating(1) Q1’26 Q1’26 Operating(1) Q2’25 Q2’25 Operating(1) Net Income $ 81.8 $ 81.8 $ 79.9 $ 82.1 $ 51.1 $ 53.5 Diluted EPS $ 1.70 $ 1.70 $ 1.63 $ 1.68 $ 1.20 $ 1.25 ROAA 1.34% 1.34% 1.31% 1.35% 1.04% 1.09% ROACE 9.24% 9.24% 9.02% 9.27% 6.68% 6.99% ROATCE(1) 14.05% 14.05% 13.67% 14.05% 9.89% 10.35% Net Interest Margin 3.85% 3.76% 3.90% 3.72% 3.37% 3.37% Q2 2026 Financial Highlights Key Metrics Highlights • Operating EPS of $1.70 for the quarter(1) • Adjusted net interest margin expansion of 4 bps to 3.76%(1) • Loans decreased $31.2 million, or 0.2%; with commercial and industrial and consumer growth offset by runoff in commercial real estate • Minimal net charge-offs; stable provision for loan loss • Deposits increased $294.6 million, or 1.5% • Wealth AUA increased to $9.5 billion • Fee income increased 5.3% • Approximately 964,000 shares repurchased for $75 million • Tangible book value per share growth of $0.48(1), or 1.0% (1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures.
8 Deposit Balances (Dollars in millions) June 30 2026 March 31 2026 $ Increase (Decrease) % Increase (Decrease) Deposit Product Type Noninterest-bearing demand deposits $ 5,710 $ 5,633 $ 77 1.4% Savings and interest checking 6,504 6,311 193 3.1% Money market 4,929 4,898 31 0.6% Time certificates of deposit 3,249 3,255 (6) (0.2)% Total deposits $ 20,392 $ 20,097 $ 295 1.5% $ in b ill io ns Average Balances and Cost of Deposits $20.2 $20.3 $20.0 $19.9 1.58% 1.46% 1.36% 1.36% Deposits Cost of deposits Q3 2025 Q4 2025 Q1 2026 Q2 2026 $0.0 $5.0 $10.0 $15.0 $20.0 0.00% 1.00% 2.00% 3.00% Deposit Composition DDA -28% Savings/Int. Checking - 32% Money Market - 24% Time Deposits - 16%
9 Counties Deposits ($bn) Market Share (%) Rank Branches Plymouth, MA 5.2 26.9 1 28(1) Middlesex, MA 3.7 4.4 8 28 Norfolk, MA 2.5 6.8 5 19 Suffolk, MA 2.2 1.6 7 21 Bristol, MA 1.6 9.5 5 8 Barnstable, MA 1.4 12.2 3 12 Essex, MA 1.4 4.4 8 10 Worcester, MA 0.9 4.0 10 10 Rockingham, NH 0.6 4.8 6 4 Hillsborough, NH 0.4 2.8 7 4 Nantucket, MA 0.4 31.1 2 3 Dukes, MA 0.2 17.2 2 4 Total 20.5 151 Strategic Market Share Positioning Source: S&P Capital IQ Pro Note: Deposit/Market Share data above is as of June 30, 2025, and is inclusive of the Enterprise acquisition. Market Share by county 2025 - Market Share % and Rank across our footprint COUNTIES RANKED BY 2025 DEPOSIT MARKET SHAREMARKET SHARE BY COUNTY Key Takeaways Rank #1 in Plymouth County with 26.9% market share and $5.2 billion deposits Expanding presence in New Hampshire with attractive opportunities (1) Includes one electronic branch
10 Linked Quarter Change in Commercial Loans $14,236 $116 $(155) $(37) $(21) $14,139 Q1 2026 C&I ex. Dealer Finance CRE ex. Office C&I - Dealer Finance CRE - Office Q2 2026 Loan Balances (Dollars in millions) June 30 2026 March 31 2026 $ Increase (Decrease) % Increase (Decrease) Loan Category Commercial and industrial $ 4,731 $ 4,651 $ 80 1.7% Commercial real estate 7,944 8,181 (237) (2.9)% Commercial construction 1,464 1,404 60 4.3% Total commercial 14,139 14,236 (97) (0.7)% Residential real estate 2,870 2,842 28 1.0% Home equity 1,343 1,308 35 2.7% Total consumer real estate 4,213 4,150 63 1.5% Total other consumer 42 40 2 5.0% Total loans $ 18,394 $ 18,426 $(32) (0.2)% $116
11 95% CRE & Construction Portfolio $9.4 billion Multi-Family - 30.5% Residential - Related - 16.2% Office - 11.0%Mixed-Use Office - 1.9% Industrial/ Warehouse - 9.7% Lodging - 8.5% Retail - 16.8% Healthcare - 0.9% Other - 4.5% C&I Portfolio $4.7 billion Retail Trade - 15.6% Real Estate/Rental and Leasing - 9.2% Construction - 10.1% Health Care and Social Assistance - 8.9%Wholesale Trade - 9.8% Manufacturing - 8.2% Accommodation and Food Services - 8.2% Educational Services - 4.0% All Other - 26.0% Consumer Portfolio $4.3 billion Residential real estate - 67.5% Home equity - 31.6% Other consumer - 0.9% $9.7 $9.7 $9.6 $9.4 295% 290% 283% 278% CRE CRE/Capital * Q3 2025 Q4 2025 Q1 2026 Q2 2026 $0.0 $4.0 $8.0 $12.0 250% 300% 350% ($Bil) *Rockland Trust Bank only. Ratio for Q2 2026 is an estimated number Loan Portfolios
12 Nonperforming Loans ($ in millions) $86.6 $83.6 $96.6 $103.6 0.47% 0.45% 0.52% 0.56% NPLs ($Mil) NPL as % of Total Loans Q3 2025 Q4 2025 Q1 2026 Q2 2026 0.25% 0.50% 0.75% $0 $60 $120 Commercial Criticized & Classified Loans ($ in millions) $518.9 $472.9 $575.5 $545.6 3.65% 3.31% 4.04% 3.86% Criticized & Classified Loans Criticized & Classified Loans as a % of Total Commercial Loans Q3 2025 Q4 2025 Q1 2026 Q2 2026 $— $150.0 $300.0 $450.0 $600.0 —% 1.50% 3.00% 4.50% 6.00% Asset Quality Allowance for Credit Loss & Delinquency Trends 1.03% 1.03% 1.03% 1.06% 0.49% 0.32% 0.41% 0.43% Allowance for Credit Losses/Total Loans Delinquent Loans/Total Loans Q3 2025 Q4 2025 Q1 2026 Q2 2026 0.00% 0.50% 1.00%
13 Top 20 Borrowers All Others Total Portfolio ($ in millions) Total Avg Loan ($ in millions) Total Avg Loan ($ in millions) Total Avg Loan Class A $272.8 $24.8 Class A $157.2 $4.9 Class A $430.0 $10.0 Class B/C 177.1 22.1 Class B/C 301.7 1.4 Class B/C 478.8 2.2 Medical 26.2 26.1 Medical 88.5 2.3 Medical 114.7 2.9 $476.1 $23.8 $547.4 $2.0 $1,023.5 $3.4 Criticized $67.6 Criticized $48.0 Criticized $115.6 Classified (perf) — Classified (perf) 8.7 Classified (perf) 8.7 Nonperforming 39.7 Nonperforming 0.2 Nonperforming 39.9 Maturity Schedule ($ in millions) Matured 2026 Q3 2026 Q4 2027 2028 2029+ Total Pass Rating $6.4 $22.5 $29.3 $164.6 $81.5 $555.0 $859.3 Criticized — 19.9 26.8 33.4 3.1 32.4 115.6 Classified — — 17.4 — — 31.2 48.6 Total $6.4 $42.4 $73.5 $198.0 $84.6 $618.6 $1,023.5 % of Total 0.6% 4.1% 7.2% 19.3% 8.3% 60.4% 100% CRE & Construction Portfolio $9.4 billion Office ($1.024B) - 10.9% Other CRE & Construction - 89.1% Focal Point | CRE Office (inclusive of construction)
14 Trend in Asset Yields vs. Funding Costs 2.32% 2.84% 2.96% 3.08% 3.13% 5.49% 5.60% 5.58% 5.56% 5.59% 1.73% 1.72% 1.60% 1.52% 1.52% Security yields Adjusted loan yields(1) Funding costs Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 —% 2.00% 4.00% 6.00% 8.00% Net Interest Margin 3.37% 3.62% 3.77% 3.90% 3.85% 3.37% 3.54% 3.64% 3.72% 3.76% Reported NIM Adjusted NIM Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 3.00% 3.50% 4.00% Net Interest Margin Dynamics 7/1/25 - Enterprise Acquisition (1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures. Total Loan Portfolio Rate Characteristics 34% 26% 40% Fixed Rate Floating Rate Variable Rate -39bp-0bp -4bp Avg. Fed Funds Impact -26bp -1bp (1)
15 Tangible Book Value $44.13 $46.96 $47.55 $48.34 10.31% 10.86% 9.88% 9.69% TBV Per Share Tangible Equity/Tangible Assets % 2023 2024 2025 Q2 2026 $0.0 $20.0 $40.0 0% 10% Key Capital Ratios Period Ended June 30 2026 March 31 2026 December 31 2025 Tangible Common Equity / Tangible Assets(1) 9.69% 9.86% 9.88% Common Equity Tier 1 12.81% 12.89% 12.86% Total Capital 15.71% 15.76% 15.70% Strong Capital Position (1) (1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures. CAGR through 6/30/2026 Period TBV Dividends 5 Years 5.62% 5.92% 10 Years 7.94% 8.24% 20 Years 7.78% 7.18% • Tangible book growth prioritization • History of healthy dividend increases ◦ 15 straight years of increases ◦ no cut during great financial crisis Quarterly Share Repurchase Activity Shares Repurchased Avg. Price per Share Total Cost ($ in millions) Q3 2025 364,528 $64.08 $23.36 Q4 2025 548,330 $68.39 $37.50 Q1 2026 802,316 $78.85 $63.26 Q2 2026 964,141 $77.79 $75.00 Q3 2026* 678,891 $84.61 $57.44 *Includes all shares repurchased in Q3 through September 3, 2026
16 Available for Sale (AFS) Held to Maturity (HTM) Portfolio Composition at June 30, 2026 Book Value Fair Value Unrealized Gain/(Loss) Book Value Fair Value Unrealized Gain/(Loss) ($ in millions) U.S. government agency securities $ 228 $ 219 $ (9) $ — $ — $ — U.S. treasury securities 391 379 (12) 101 98 (3) Agency mortgage-backed securities 996 962 (34) 654 615 (39) Agency collateralized mortgage obligations 261 252 (9) 349 303 (46) Municipal securities 230 229 (1) — — — Other 41 35 (6) 106 101 (5) Total securities $ 2,147 $ 2,076 $ (71) $ 1,210 $ 1,117 $ (93) Duration of portfolio 3.9 Years 3.4 Years Securities Portfolio $ in m ill io ns Projected Quarterly Paydowns and Maturities $244.8 $187.4 $137.0 $117.7 $95.7 $188.8 $184.7 $190.2 $187.7 $277.4 $97.2 $79.3 $123.3 $122.3 1.60% 2.27% 2.56% 2.51% 3.48% 1.86% 2.00% 2.24% 2.30% 1.99% 2.97% 3.81% 3.40% 4.06% Paydowns* Yield 3Q26 4Q26 1Q27 2Q27 3Q27 4Q27 1Q28 2Q28 3Q28 4Q28 1Q29 2Q29 3Q29 4Q29 $0.0 $100.0 $200.0 $300.0 0.00% 5.00% 10.00% 15.00% *Includes estimated prepayments
17 Focal Point | Investment Management and Advisory $ in b ill io ns Assets Under Administration (AUA) 13% CAGR $5.7 $5.8 $6.5 $7.0 $9.2 $9.5 2021 2022 2023 2024 2025 Q2 2026 $0.0 $5.0 $10.0 $ in m ill io ns Revenues 9% CAGR $35.3 $36.8 $40.2 $42.7 $50.0 $29.1 2021 2022 2023 2024 2025 1H 2026 $0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $ in m ill io ns Recent Trends in AUA $9,220 $9,217 $9,172 $9,470 Q3 2025 Q4 2025 Q1 2026 Q2 2026 $0 $2,500 $5,000 $7,500 $10,000 • Expanded markets, particularly with EBTC footprint • Improved referral infrastructure • Recent hires; dedicated sales resources in EBTC market • Enhanced product set: ◦ Premier banking initiative (new) ◦ Bank owner advisory services (new) ◦ Financial and estate planning ◦ Tax preparation ◦ Insurance
18 Metric Guidance Direction 2026 Expectations Loan Growth No change • Commercial and Industrial: Mid-single digit percentage increase • Commercial real estate and Construction: Flat to low-single digit percentage decrease • Consumer: low-single digit percentage increase Deposit Growth No change • Core deposits: low to mid-single digit percentage increase • Time deposits: flat to low-single digit percentage decrease Net Interest Margin No change • Consistent core margin expansion expected throughout 2026, with a fourth quarter target range of 3.90%-3.95%. This range assumes 0.10% from purchase loan accretion • Assumes 5, 7, and 10 year treasury rates stay consistent with current levels • Neutral to any anticipated Federal Reserve action in 2026 Asset Quality No change • Stable asset quality metrics Non-interest Income No change • Low-single digit percentage increase expected vs. 2025 2nd half annualized results Non-interest Expense No change • Core operating expenses in the $553 - $557 million range • $5 - $6 million of one-time, non-capitalizable costs related to core system upgrade Tax Rate No change • 23.50% - 24.00% 2026 Guidance
19 • Integrating the Enterprise Bancorp. acquisition ◦ Promote depth and breath of product set ◦ Active community engagement ◦ Capitalize on new market opportunities • Growing C&I lending business ◦ Expanded middle market capabilities; recent growth driver ◦ Dedicated teams/verticals (non-profit, franchise, ABL) • Expanding Treasury management services ◦ Enhanced foreign currency/exchange capabilities ◦ Dedicated sales resources – product development and education • Business Banking / Branch realignment ◦ Increasing business banking service resources ◦ Improved internal reporting over customer ownership • Expanding Wealth management services ◦ Business owner advisory services – differentiated consulting capability ◦ Enhanced dedicated sales team in Enterprise market ◦ Capitalizing on municipal opportunities • Improving referral infrastructure and incentives ◦ Salesforce investment tailored to RTC business model ◦ Redesign of internal referral program across all business lines • Approved commercial pipeline at 6/30/26 of $510 million, up 62.9% from 3/31/26 • MA rent control initiative - voted down by courts in June 2026 • Achieved target cost savings from Enterprise acquisition • Core system upgrade – October 2026 ◦ Streamline front line – back office communications and service needs ◦ Process and procedure review to align with improved technology ◦ Enhanced efficiency relating to cash management capabilities • Established Digital Innovation team ◦ In process: creation of AI governance model ◦ Mid-2026: develop high priority/high impact AI capabilities • Commercial loan origination system review ◦ 2026 project to redesign origination process (NCINO) • Expense focus reporting and monitoring ◦ Expanded and aligned FP&A and procurement capabilities Near-Term Priorities Growth Initiatives Efficiency Initiatives
20 • High quality franchise in attractive markets • Low risk balance sheet with strong core deposit funding base • Strong capital base, well-above regulatory mandated levels that enables maximum capital management flexibility • Earnings expected to notably improve as fixed assets reprice to prevailing market rates • Enterprise Bancorp acquisition is helping drive improved profitability metrics • Continued progress toward returning asset quality metrics to Independent Bank Corp. historical high performing levels • Focused on positioning the Company for durable and consistent long-term returns for investors Positioned to grow, build, and acquire to drive long-term value creation INDB Investment Merits
21 This presentation contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations and business of the Company. These statements may be identified by such forward-looking terminology as “expect,” “achieve,” “plan,” “believe,” “outlook,” “projected,” “future,” “positioned,” “continued,” “will,” “would,” “potential,” “anticipated,” “guidance,” “target” or similar statements or variations of such terms. Actual results may differ from those contemplated by these forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to: • adverse economic conditions in the regional and local economies within the New England region and the Company’s market area; • events impacting the financial services industry, including high profile bank failures, and any resulting decreased confidence in banks among depositors, investors, and other counterparties, as well as competition for deposits and significant disruption, volatility and depressed valuations of equity and other securities of banks in the capital markets; • the effects to the Company of an increasingly competitive labor market, including the possibility that the Company will have to devote significant resources to attract and retain qualified personnel; • political and policy uncertainties, changes in U.S. and international trade policies, such as tariffs or other factors, and the potential impact of such factors on the Company and its customers, including the potential for decreases in deposits and loan demand, unanticipated loan delinquencies, loss of collateral and decreased service revenues; • the instability or volatility in financial markets and unfavorable domestic or global general economic, political or business conditions, including international conflicts and hostilities, such as the ongoing conflict involving Israel, the U.S. and Iran; • unanticipated loan delinquencies, loss of collateral, decreased service revenues, and other potential negative effects on the Company’s local economies or the Company’s business caused by adverse weather conditions and natural disasters, changes in climate, public health crises or other external events and any actions taken by governmental authorities in response to any such events; • adverse changes or volatility in the local real estate market, including limitations on rent growth, increases in operating expenses, reductions in property cash flows, reductions in collateral values, and decreased investor demand, which may be exacerbated by legislative or regulatory actions such as rent control or tenant protection laws; • changes in interest rates and any resulting impact on interest earning assets and/or interest bearing liabilities, the level of voluntary prepayments on loans and the receipt of payments on mortgage-backed securities, decreased loan demand or increased difficulty in the ability of borrowers to repay variable rate loans; • risks related to the Company’s acquisition activities, including disruption to current plans and operations; difficulties in customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated; impairment of goodwill and/or other intangibles; and the Company’s inability to achieve expected revenues, cost savings, synergies, and other benefits at levels or within the timeframes originally anticipated; • the effect of laws, regulations, new requirements or expectations, or additional regulatory oversight in the highly regulated financial services industry, and the resulting need to invest in technology to meet heightened regulatory expectations, increased costs of compliance or required adjustments to strategy; • changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; • higher than expected tax expense, including as a result of failure to comply with general tax laws and changes in tax laws; • increased competition in the Company’s market areas, including competition that could impact deposit gathering, retention of deposits and the cost of deposits, increased competition due to the demand for innovative products and service offerings, and competition from non-depository institutions which may be subject to fewer regulatory constraints and lower cost structures; • a deterioration in the conditions of the securities markets; • a deterioration of the credit rating for U.S. long-term sovereign debt or uncertainties surrounding the federal budget; • inability to adapt to changes in information technology, including changes to industry accepted delivery models driven by a migration to the internet as a means of service delivery, including any inability to effectively implement new technology-driven products, such as artificial intelligence (“AI”); • electronic or other fraudulent activity within the financial services industry, especially in the commercial banking sector; • adverse changes in consumer spending and savings habits; • the effect of laws and regulations regarding the financial services industry, including the need to invest in technology to meet heightened regulatory expectations or the introduction of new requirements or expectations resulting in increased costs of compliance or required adjustments to strategy; • changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) generally applicable to the Company’s business and the associated costs of such changes; • the Company’s potential judgments, claims, damages, penalties, fines and reputational damage resulting from pending or future litigation and regulatory and government actions; • changes in accounting policies, practices and standards, as may be adopted by the regulatory agencies as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board, and other accounting standard setters; • operational risks related to the Company and its customers’ reliance on information technology; cyber threats, attacks, intrusions, and fraud; and outages or other issues impacting the Company or its third party service providers which could lead to interruptions or disruptions of the Company’s operating systems, including systems that are customer facing, and adversely impact the Company’s business; • risks related to the development and use of AI by the Company, its third-party vendors, clients and counterparties; and • any unexpected material adverse changes in the Company’s operations or earnings. The Company cautions readers not to place undue reliance on any forward-looking statements as the Company’s business and its forward-looking statements involve substantial known and unknown risks and uncertainties described above and in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q (“Risk Factors”). Except as required by law, the Company disclaims any intent or obligation to update publicly any such forward-looking statements, whether in response to new information, future events or otherwise. Any public statements or disclosures by the Company following this release which modify or impact any of the forward-looking statements contained in this release will be deemed to modify or supersede such statements in this release. In addition to the information set forth in this earnings presentation, you should carefully consider the Risk Factors. Forward Looking Statements
22 This presentation contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). This information may include operating net income and operating earnings per share (“EPS”), operating return on average assets, operating pre-provision net revenue return on average assets, operating return on average common equity, operating return on average tangible common equity, operating noninterest expense, operating noninterest expense, excluding core conversion costs, adjusted net interest margin (“adjusted NIM” or “adjusted margin”) and the associated adjusted loan yield (which is calculated by dividing annualized interest income on loans, plus or minus non-core or other adjustments, by average loans), tangible book value per share, tangible common equity ratio and return on average tangible common equity. Management reviews its adjusted margin and adjusted loan yield to determine any items that may impact these metrics that may be one-time in nature or not reflective of its core operating environment, such as low-yielding loans originated through government programs in response to the pandemic, or significant purchase accounting adjustments, or other adjustments such as nonaccrual interest reversals/recoveries and prepayment penalties. Management believes that adjusting for these items to arrive at an adjusted margin and adjusted loan yield provides additional insight into the operating environment and how management decisions impact the net interest margin and adjusted loan yield. Management also supplements its evaluation of financial performance with analysis of tangible book value per share (which is computed by dividing stockholders’ equity less goodwill and identifiable intangible assets, or “tangible common equity,” by common shares outstanding), the tangible common equity ratio (which is computed by dividing tangible common equity by “tangible assets,” defined as total assets less goodwill and other intangibles), and return on average tangible common equity (which is computed by dividing net income by average tangible common equity). The Company has included information on tangible book value per share, the tangible common equity ratio and return on average tangible common equity because management believes that investors may find it useful to have access to the same analytical tools used by management. As a result of merger and acquisition activity, the Company has recognized goodwill and other intangible assets in conjunction with business combination accounting principles. Excluding the impact of goodwill and other intangibles in measuring asset and capital values for the ratios provided, along with other bank standard capital ratios, provides a framework to compare the capital adequacy of the Company to other companies in the financial services industry. These non-GAAP measures should not be viewed as a substitute for operating results and other financial measures determined in accordance with GAAP. An item which management excludes when computing these non-GAAP measures can be of substantial importance to the Company’s results for any particular quarter or year. The Company’s non-GAAP performance measures, including operating net income, operating EPS, operating return on average assets, operating pre-provision net revenue return on average assets, operating return on average common equity, operating return on average tangible common equity, operating noninterest expense, operating noninterest expense, excluding core conversion costs, adjusted margin, tangible book value per share and the tangible common equity ratio, are not necessarily comparable to non-GAAP performance measures which may be presented by other companies. Non-GAAP Financial Measures
23 Appendix
24 (Dollars in thousands) June 30 2026 March 31 2026 December 31 2025 December 31 2024 December 31 2023 Tangible common equity Stockholders' equity (GAAP) $3,512,363 $3,542,041 $3,565,728 $2,993,120 $2,895,251 (a) Less: Goodwill and other intangibles 1,210,506 1,217,297 1,224,186 997,356 1,003,262 Tangible common equity (Non-GAAP) $2,301,857 $2,324,744 $2,341,542 $1,995,764 $1,891,989 (b) Tangible assets Assets (GAAP) $24,973,894 $24,783,580 $24,912,896 $19,373,565 $19,347,373 (c) Less: Goodwill and other intangibles 1,210,506 1,217,297 1,224,186 997,356 1,003,262 Tangible assets (Non-GAAP) $23,763,388 $23,566,283 $23,688,710 $18,376,209 $18,344,111 (d) Common shares 47,618,626 48,572,237 49,243,813 42,500,611 42,873,187 (c) Common equity to assets ratio (GAAP) 14.06% 14.29% 14.31% 15.45% 14.96% (a/c) Tangible common equity to tangible assets ratio (Non-GAAP) 9.69% 9.86% 9.88% 10.86% 10.31% (b/d) Book Value per share (GAAP) $73.76 $72.92 $72.41 $70.43 $67.53 (a/c) Tangible book value per share (Non-GAAP) $48.34 $47.86 $47.55 $46.96 $44.13 (b/c) Non-GAAP Reconciliation of Balance Sheet Metrics
25 Non-GAAP Reconciliation of Earnings Metrics (Unaudited, dollars in thousands) Three Months Ended June 30 2026 March 31 2026 December 31 2025 September 30 2025 June 30 2025 Net interest income (GAAP) $ 210,927 $ 212,459 $ 212,486 $ 203,344 $ 147,496 Noninterest income (GAAP) $ 42,391 $ 40,262 $ 41,445 $ 40,398 $ 34,308 Total revenue (GAAP) $ 253,318 $ 252,721 $ 253,931 $ 243,742 $ 181,804 Noninterest expense (GAAP) $ 140,272 $ 142,918 $ 154,370 $ 160,836 $ 108,798 Less: Merger and acquisition expense — 3,024 12,348 23,893 2,239 Noninterest expense on an operating basis (Non-GAAP) $ 140,272 $ 139,894 $ 142,022 $ 136,943 $ 106,559 Average assets $ 24,575,682 $ 24,702,391 $ 24,965,043 $ 24,930,449 $ 19,743,746 Average common equity (GAAP) $ 3,550,702 $ 3,591,389 $ 3,568,036 $ 3,557,840 $ 3,067,050 Less: Average goodwill and other intangibles 1,214,434 1,221,201 1,227,889 1,236,109 995,380 Average tangible common equity (Non-GAAP) $ 2,336,268 $ 2,370,188 $ 2,340,147 $ 2,321,731 $ 2,071,670 Reconciliation of Net Income (GAAP) to Operating Net Income (Non-GAAP) Net income (GAAP) $ 81,838 $ 79,919 $ 75,335 $ 34,262 $ 51,101 Provision for non-PCD acquired loans — — — 34,519 — Noninterest expense components Add - merger and acquisition expenses — 3,024 12,348 23,893 2,239 Noncore increases to income before taxes — 3,024 12,348 58,412 2,239 Net taxes associated with noncore items (1) — (830) (3,326) (15,320) (544) Add - adjustment for tax effect of previously incurred merger and acquisition expenses — — — — 657 Total tax impact — (830) (3,326) (15,320) 113 Noncore increases to net income — 2,194 9,022 43,092 2,352 Operating net income (Non-GAAP) $ 81,838 $ 82,113 $ 84,357 $ 77,354 $ 53,453 Weighted average common shares (diluted) 48,076,755 48,999,745 49,476,340 49,957,007 42,641,131 Diluted earnings per share (GAAP) $ 1.70 $ 1.63 $ 1.52 $ 0.69 $ 1.20 Diluted earnings per share, on an operating basis (Non-GAAP) $ 1.70 $ 1.68 $ 1.70 $ 1.55 $ 1.25 (1) The net taxes associated with noncore items is determined by assessing whether each noncore item is included or excluded from net taxable income and applying the Company’s combined marginal tax rate to only those items included in net taxable income. Ratios Return on average assets (GAAP) (calculated by dividing annualized net income by average assets) 1.34% 1.31% 1.20% 0.55% 1.04% Return on average assets on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average assets) 1.34% 1.35% 1.34% 1.23% 1.09% Return on average common equity (GAAP) (calculated by dividing annualized net income by average common equity) 9.24% 9.02% 8.38% 3.82% 6.68% Return on average common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average common equity) 9.24% 9.27% 9.38% 8.63% 6.99% Return on average tangible common equity (Non-GAAP) (calculated by dividing annualized net income by average tangible common equity) 14.05% 13.67% 12.77% 5.85% 9.89% Return on average tangible common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average tangible common equity) 14.05% 14.05% 14.30% 13.22% 10.35%
26 (Unaudited, dollars in thousands) Three Months Ended June 30 2026 March 31 2026 December 31 2025 September 30 2025 June 30 2025 Pre-provision net revenue (2) $ 113,046 $ 109,803 $ 99,561 $ 82,906 $ 73,006 Pre-provision net revenue on an operating basis Pre-provision net revenue $ 113,046 $ 109,803 $ 99,561 $ 82,906 $ 73,006 Add: merger and acquisition expenses $ — $ 3,024 $ 12,348 $ 23,893 $ 2,239 Pre-provision net revenue on an operating basis (Non-GAAP) $ 113,046 $ 112,827 $ 111,909 $ 106,799 $ 75,245 Pre-provision net revenue return on average assets on an operating basis Pre-provision net revenue on an operating basis (Non-GAAP) $ 113,046 $ 112,827 $ 111,909 $ 106,799 $ 75,245 Average Assets $ 24,575,682 $ 24,702,391 $ 24,965,043 $ 24,930,449 $ 19,743,746 Pre-provision net revenue return on average assets on an operating basis (Non-GAAP) 1.85% 1.85% 1.78% 1.70% 1.53% Non-GAAP Reconciliation of Pre-Provision Net Revenue (2) Pre-provision net revenue is calculated as net interest income (GAAP) plus total non-interest income (GAAP) less total non-interest expense (GAAP).
27 Three Months Ended June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Volume Interest Margin Impact Volume Interest Margin Impact Volume Interest Margin Impact Volume Interest Margin Impact Volume Interest Margin Impact (Unaudited, dollars in thousands) Reported total interest earning assets $ 22,135,137 $ 212,411 3.85% $ 22,227,686 $ 213,921 3.90% $ 22,484,104 $ 213,856 3.77% $ 22,430,232 $ 204,731 3.62% $ 17,672,302 $ 148,672 3.37% Acquisition fair value marks: Loan accretion (4,439) (0.08)% (9,186) (0.17)% (6,275) (0.11)% (4,729) (0.08)% (235) —% Nonaccrual interest, net 143 —% (54) —% (1,117) (0.02)% (84) —% (5) —% Other adjustments (1,453) (497) (0.01)% (1,626) (667) (0.01)% (1,842) (407) —% (2,088) 129 —% (2,291) 135 —% Adjusted margin (Non- GAAP) $ 22,133,684 $ 207,618 3.76% $ 22,226,060 $ 204,014 3.72% $ 22,482,262 $ 206,057 3.64% $ 22,428,144 $ 200,047 3.54% $ 17,670,011 $ 148,567 3.37% Non-GAAP Reconciliation of Adjusted Margin
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
Current Report Pursuant to Section 13 or 15 (d) of
The Securities and Exchange Act of 1934
DATE OF REPORT:
September 8, 2026
(Date of Earliest Event Reported)
Massachusetts
(State or Other Jurisdiction of Incorporation)
1-9047
04-2870273
(Commission File Number)
(I.R.S. Employer identification No.)
INDEPENDENT BANK CORP.
Office Address:
2036 Washington Street,
Hanover,
Massachusetts
02339
Mailing Address:
288 Union Street,
Rockland,
Massachusetts
02370
(Address of principal executive offices, including zip code)
NOT APPLICABLE
(Former Address of Principal Executive Offices)
(
781
)-
878-6100
(Registrant’s Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each Class
Trading Symbol
Name of each exchange on which registered
Common Stock, $0.01 par value per share
INDB
NASDAQ Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17CFR 230.405)) or Rule 12b-2 of the Exchange Act (17CFR 240.12b-2).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act.
☐
ITEM 7.01
REGULATION FD DISCLOSURE
Attached as Exhibit 99.1 hereto is a copy of an investor presentation that will be used at the Raymond James 2026 U.S. Bank & Banking on Tech Conferences on Wednesday, September 9, 2026.
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS
d. The following exhibits are included with this Report:
Exhibit Index
Exhibit #
Exhibit Description
99.1
Independent Bank Corp. presentation materials that will be used at the Raymond James 2026 U.S. Bank & Banking on Tech Conferences
104
Cover page interactive data file (embedded within the Inline XBRL document).
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned and hereunto duly authorized.
INDEPENDENT BANK CORP.
Date:
September 8, 2026
By:
/s/Mark J. Ruggiero
MARK J. RUGGIERO
CHIEF FINANCIAL OFFICER
----- investorpresentationslid.htm -----
EX-99.1
2
investorpresentationslid.htm
EX-99.1 - RAYMOND JAMES INVESTOR PRESENTATION
investorpresentationslid
Exhibit 99.1 Jeff Tengel Chief Executive Officer Mark Ruggiero Chief Financial Officer & EVP/Consumer Lending Raymond James 2026 U.S. Bank & Banking on Tech Conferences September 9, 2026
2 Who We Are Independent Bank Corp. (Nasdaq: INDB) • Main Banking Subsidiary: Rockland Trust • Massachusetts based; New England focused Key Metrics as of June 30, 2026 $25.0 B TOTAL ASSETS $18.4 B LOANS $20.4 B DEPOSITS $9.5 B WEALTH MANAGEMENT $3.9 B MARKET CAP* *as of September 3, 2026
3 Our Corporate Promises: We remain committed to our colleagues, customers, community and shareholders. This connects our purpose to everything we do. It transforms what banking means from a mere transaction to the chance to make a positive difference in the lives of others. This motivates our colleagues to do the best we can for every customer and cultivate sustainable value creation over the long-term. CULTURE | BRAND | VALUES Where Each Relationship Matters® Customers Colleagues ShareholdersCommunity Being the Bank Where Each Relationship Matters® is foundational to our vision We Are the Bank Where Each Relationship Matters®
4 Safe & Sound Customer Centric • Full suite of retail banking, commercial banking, and wealth product offerings • Relationship-oriented commercial lending with strong local market knowledge and presence • Exceptional third party customer service recognition in both commercial and retail • Strong brand awareness and reputation Attractive Market • Top performing MA-based bank with scale and density • Supported by strong demographics and vitality in key markets served • Depth of market offers opportunities for continued growth • The Enterprise acquisition added density to existing markets and expands the Rockland franchise into Northern MA and Southern NH Strong, Resilient Franchise; Well Positioned for Growth High Performing • Consistent, strong profitability • Focused on maintaining good margins • Fee income contribution from scalable wealth franchise • Focused on operating leverage • History of organic capital generation • Strong balance sheet • Prudent interest rate and liquidity risk management • Significant capital buffer • Diversified, low-cost deposit base • Experienced commercial lender with conservative credit culture • Proven operator and acquiror Company Overview
5 Recent Awards Consistent recognition across employee experience, financial performance, and community impact.
6 Earnings Growth & Profitability Enhancement (1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures. Operating Pre-Provision Net Revenue ROAA 1.53% 1.70% 1.78% 1.85% 1.85% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 —% 2.00% Operating ROAA 1.09% 1.23% 1.34% 1.35% 1.34% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 —% 2.00% Operating ROATCE 10.35% 13.22% 14.30% 14.05% 14.05% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 —% 5.00% 10.00% 15.00% Operating EPS $1.25 $1.55 $1.70 $1.68 $1.70 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 $— $2.00 (1) (1) (1) (1)
7 ($ in millions, except per share) Q2’26 Q2’26 Operating(1) Q1’26 Q1’26 Operating(1) Q2’25 Q2’25 Operating(1) Net Income $ 81.8 $ 81.8 $ 79.9 $ 82.1 $ 51.1 $ 53.5 Diluted EPS $ 1.70 $ 1.70 $ 1.63 $ 1.68 $ 1.20 $ 1.25 ROAA 1.34% 1.34% 1.31% 1.35% 1.04% 1.09% ROACE 9.24% 9.24% 9.02% 9.27% 6.68% 6.99% ROATCE(1) 14.05% 14.05% 13.67% 14.05% 9.89% 10.35% Net Interest Margin 3.85% 3.76% 3.90% 3.72% 3.37% 3.37% Q2 2026 Financial Highlights Key Metrics Highlights • Operating EPS of $1.70 for the quarter(1) • Adjusted net interest margin expansion of 4 bps to 3.76%(1) • Loans decreased $31.2 million, or 0.2%; with commercial and industrial and consumer growth offset by runoff in commercial real estate • Minimal net charge-offs; stable provision for loan loss • Deposits increased $294.6 million, or 1.5% • Wealth AUA increased to $9.5 billion • Fee income increased 5.3% • Approximately 964,000 shares repurchased for $75 million • Tangible book value per share growth of $0.48(1), or 1.0% (1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures.
8 Deposit Balances (Dollars in millions) June 30 2026 March 31 2026 $ Increase (Decrease) % Increase (Decrease) Deposit Product Type Noninterest-bearing demand deposits $ 5,710 $ 5,633 $ 77 1.4% Savings and interest checking 6,504 6,311 193 3.1% Money market 4,929 4,898 31 0.6% Time certificates of deposit 3,249 3,255 (6) (0.2)% Total deposits $ 20,392 $ 20,097 $ 295 1.5% $ in b ill io ns Average Balances and Cost of Deposits $20.2 $20.3 $20.0 $19.9 1.58% 1.46% 1.36% 1.36% Deposits Cost of deposits Q3 2025 Q4 2025 Q1 2026 Q2 2026 $0.0 $5.0 $10.0 $15.0 $20.0 0.00% 1.00% 2.00% 3.00% Deposit Composition DDA -28% Savings/Int. Checking - 32% Money Market - 24% Time Deposits - 16%
9 Counties Deposits ($bn) Market Share (%) Rank Branches Plymouth, MA 5.2 26.9 1 28(1) Middlesex, MA 3.7 4.4 8 28 Norfolk, MA 2.5 6.8 5 19 Suffolk, MA 2.2 1.6 7 21 Bristol, MA 1.6 9.5 5 8 Barnstable, MA 1.4 12.2 3 12 Essex, MA 1.4 4.4 8 10 Worcester, MA 0.9 4.0 10 10 Rockingham, NH 0.6 4.8 6 4 Hillsborough, NH 0.4 2.8 7 4 Nantucket, MA 0.4 31.1 2 3 Dukes, MA 0.2 17.2 2 4 Total 20.5 151 Strategic Market Share Positioning Source: S&P Capital IQ Pro Note: Deposit/Market Share data above is as of June 30, 2025, and is inclusive of the Enterprise acquisition. Market Share by county 2025 - Market Share % and Rank across our footprint COUNTIES RANKED BY 2025 DEPOSIT MARKET SHAREMARKET SHARE BY COUNTY Key Takeaways Rank #1 in Plymouth County with 26.9% market share and $5.2 billion deposits Expanding presence in New Hampshire with attractive opportunities (1) Includes one electronic branch
10 Linked Quarter Change in Commercial Loans $14,236 $116 $(155) $(37) $(21) $14,139 Q1 2026 C&I ex. Dealer Finance CRE ex. Office C&I - Dealer Finance CRE - Office Q2 2026 Loan Balances (Dollars in millions) June 30 2026 March 31 2026 $ Increase (Decrease) % Increase (Decrease) Loan Category Commercial and industrial $ 4,731 $ 4,651 $ 80 1.7% Commercial real estate 7,944 8,181 (237) (2.9)% Commercial construction 1,464 1,404 60 4.3% Total commercial 14,139 14,236 (97) (0.7)% Residential real estate 2,870 2,842 28 1.0% Home equity 1,343 1,308 35 2.7% Total consumer real estate 4,213 4,150 63 1.5% Total other consumer 42 40 2 5.0% Total loans $ 18,394 $ 18,426 $(32) (0.2)% $116
11 95% CRE & Construction Portfolio $9.4 billion Multi-Family - 30.5% Residential - Related - 16.2% Office - 11.0%Mixed-Use Office - 1.9% Industrial/ Warehouse - 9.7% Lodging - 8.5% Retail - 16.8% Healthcare - 0.9% Other - 4.5% C&I Portfolio $4.7 billion Retail Trade - 15.6% Real Estate/Rental and Leasing - 9.2% Construction - 10.1% Health Care and Social Assistance - 8.9%Wholesale Trade - 9.8% Manufacturing - 8.2% Accommodation and Food Services - 8.2% Educational Services - 4.0% All Other - 26.0% Consumer Portfolio $4.3 billion Residential real estate - 67.5% Home equity - 31.6% Other consumer - 0.9% $9.7 $9.7 $9.6 $9.4 295% 290% 283% 278% CRE CRE/Capital * Q3 2025 Q4 2025 Q1 2026 Q2 2026 $0.0 $4.0 $8.0 $12.0 250% 300% 350% ($Bil) *Rockland Trust Bank only. Ratio for Q2 2026 is an estimated number Loan Portfolios
12 Nonperforming Loans ($ in millions) $86.6 $83.6 $96.6 $103.6 0.47% 0.45% 0.52% 0.56% NPLs ($Mil) NPL as % of Total Loans Q3 2025 Q4 2025 Q1 2026 Q2 2026 0.25% 0.50% 0.75% $0 $60 $120 Commercial Criticized & Classified Loans ($ in millions) $518.9 $472.9 $575.5 $545.6 3.65% 3.31% 4.04% 3.86% Criticized & Classified Loans Criticized & Classified Loans as a % of Total Commercial Loans Q3 2025 Q4 2025 Q1 2026 Q2 2026 $— $150.0 $300.0 $450.0 $600.0 —% 1.50% 3.00% 4.50% 6.00% Asset Quality Allowance for Credit Loss & Delinquency Trends 1.03% 1.03% 1.03% 1.06% 0.49% 0.32% 0.41% 0.43% Allowance for Credit Losses/Total Loans Delinquent Loans/Total Loans Q3 2025 Q4 2025 Q1 2026 Q2 2026 0.00% 0.50% 1.00%
13 Top 20 Borrowers All Others Total Portfolio ($ in millions) Total Avg Loan ($ in millions) Total Avg Loan ($ in millions) Total Avg Loan Class A $272.8 $24.8 Class A $157.2 $4.9 Class A $430.0 $10.0 Class B/C 177.1 22.1 Class B/C 301.7 1.4 Class B/C 478.8 2.2 Medical 26.2 26.1 Medical 88.5 2.3 Medical 114.7 2.9 $476.1 $23.8 $547.4 $2.0 $1,023.5 $3.4 Criticized $67.6 Criticized $48.0 Criticized $115.6 Classified (perf) — Classified (perf) 8.7 Classified (perf) 8.7 Nonperforming 39.7 Nonperforming 0.2 Nonperforming 39.9 Maturity Schedule ($ in millions) Matured 2026 Q3 2026 Q4 2027 2028 2029+ Total Pass Rating $6.4 $22.5 $29.3 $164.6 $81.5 $555.0 $859.3 Criticized — 19.9 26.8 33.4 3.1 32.4 115.6 Classified — — 17.4 — — 31.2 48.6 Total $6.4 $42.4 $73.5 $198.0 $84.6 $618.6 $1,023.5 % of Total 0.6% 4.1% 7.2% 19.3% 8.3% 60.4% 100% CRE & Construction Portfolio $9.4 billion Office ($1.024B) - 10.9% Other CRE & Construction - 89.1% Focal Point | CRE Office (inclusive of construction)
14 Trend in Asset Yields vs. Funding Costs 2.32% 2.84% 2.96% 3.08% 3.13% 5.49% 5.60% 5.58% 5.56% 5.59% 1.73% 1.72% 1.60% 1.52% 1.52% Security yields Adjusted loan yields(1) Funding costs Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 —% 2.00% 4.00% 6.00% 8.00% Net Interest Margin 3.37% 3.62% 3.77% 3.90% 3.85% 3.37% 3.54% 3.64% 3.72% 3.76% Reported NIM Adjusted NIM Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 3.00% 3.50% 4.00% Net Interest Margin Dynamics 7/1/25 - Enterprise Acquisition (1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures. Total Loan Portfolio Rate Characteristics 34% 26% 40% Fixed Rate Floating Rate Variable Rate -39bp-0bp -4bp Avg. Fed Funds Impact -26bp -1bp (1)
15 Tangible Book Value $44.13 $46.96 $47.55 $48.34 10.31% 10.86% 9.88% 9.69% TBV Per Share Tangible Equity/Tangible Assets % 2023 2024 2025 Q2 2026 $0.0 $20.0 $40.0 0% 10% Key Capital Ratios Period Ended June 30 2026 March 31 2026 December 31 2025 Tangible Common Equity / Tangible Assets(1) 9.69% 9.86% 9.88% Common Equity Tier 1 12.81% 12.89% 12.86% Total Capital 15.71% 15.76% 15.70% Strong Capital Position (1) (1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures. CAGR through 6/30/2026 Period TBV Dividends 5 Years 5.62% 5.92% 10 Years 7.94% 8.24% 20 Years 7.78% 7.18% • Tangible book growth prioritization • History of healthy dividend increases ◦ 15 straight years of increases ◦ no cut during great financial crisis Quarterly Share Repurchase Activity Shares Repurchased Avg. Price per Share Total Cost ($ in millions) Q3 2025 364,528 $64.08 $23.36 Q4 2025 548,330 $68.39 $37.50 Q1 2026 802,316 $78.85 $63.26 Q2 2026 964,141 $77.79 $75.00 Q3 2026* 678,891 $84.61 $57.44 *Includes all shares repurchased in Q3 through September 3, 2026
16 Available for Sale (AFS) Held to Maturity (HTM) Portfolio Composition at June 30, 2026 Book Value Fair Value Unrealized Gain/(Loss) Book Value Fair Value Unrealized Gain/(Loss) ($ in millions) U.S. government agency securities $ 228 $ 219 $ (9) $ — $ — $ — U.S. treasury securities 391 379 (12) 101 98 (3) Agency mortgage-backed securities 996 962 (34) 654 615 (39) Agency collateralized mortgage obligations 261 252 (9) 349 303 (46) Municipal securities 230 229 (1) — — — Other 41 35 (6) 106 101 (5) Total securities $ 2,147 $ 2,076 $ (71) $ 1,210 $ 1,117 $ (93) Duration of portfolio 3.9 Years 3.4 Years Securities Portfolio $ in m ill io ns Projected Quarterly Paydowns and Maturities $244.8 $187.4 $137.0 $117.7 $95.7 $188.8 $184.7 $190.2 $187.7 $277.4 $97.2 $79.3 $123.3 $122.3 1.60% 2.27% 2.56% 2.51% 3.48% 1.86% 2.00% 2.24% 2.30% 1.99% 2.97% 3.81% 3.40% 4.06% Paydowns* Yield 3Q26 4Q26 1Q27 2Q27 3Q27 4Q27 1Q28 2Q28 3Q28 4Q28 1Q29 2Q29 3Q29 4Q29 $0.0 $100.0 $200.0 $300.0 0.00% 5.00% 10.00% 15.00% *Includes estimated prepayments
17 Focal Point | Investment Management and Advisory $ in b ill io ns Assets Under Administration (AUA) 13% CAGR $5.7 $5.8 $6.5 $7.0 $9.2 $9.5 2021 2022 2023 2024 2025 Q2 2026 $0.0 $5.0 $10.0 $ in m ill io ns Revenues 9% CAGR $35.3 $36.8 $40.2 $42.7 $50.0 $29.1 2021 2022 2023 2024 2025 1H 2026 $0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $ in m ill io ns Recent Trends in AUA $9,220 $9,217 $9,172 $9,470 Q3 2025 Q4 2025 Q1 2026 Q2 2026 $0 $2,500 $5,000 $7,500 $10,000 • Expanded markets, particularly with EBTC footprint • Improved referral infrastructure • Recent hires; dedicated sales resources in EBTC market • Enhanced product set: ◦ Premier banking initiative (new) ◦ Bank owner advisory services (new) ◦ Financial and estate planning ◦ Tax preparation ◦ Insurance
18 Metric Guidance Direction 2026 Expectations Loan Growth No change • Commercial and Industrial: Mid-single digit percentage increase • Commercial real estate and Construction: Flat to low-single digit percentage decrease • Consumer: low-single digit percentage increase Deposit Growth No change • Core deposits: low to mid-single digit percentage increase • Time deposits: flat to low-single digit percentage decrease Net Interest Margin No change • Consistent core margin expansion expected throughout 2026, with a fourth quarter target range of 3.90%-3.95%. This range assumes 0.10% from purchase loan accretion • Assumes 5, 7, and 10 year treasury rates stay consistent with current levels • Neutral to any anticipated Federal Reserve action in 2026 Asset Quality No change • Stable asset quality metrics Non-interest Income No change • Low-single digit percentage increase expected vs. 2025 2nd half annualized results Non-interest Expense No change • Core operating expenses in the $553 - $557 million range • $5 - $6 million of one-time, non-capitalizable costs related to core system upgrade Tax Rate No change • 23.50% - 24.00% 2026 Guidance
19 • Integrating the Enterprise Bancorp. acquisition ◦ Promote depth and breath of product set ◦ Active community engagement ◦ Capitalize on new market opportunities • Growing C&I lending business ◦ Expanded middle market capabilities; recent growth driver ◦ Dedicated teams/verticals (non-profit, franchise, ABL) • Expanding Treasury management services ◦ Enhanced foreign currency/exchange capabilities ◦ Dedicated sales resources – product development and education • Business Banking / Branch realignment ◦ Increasing business banking service resources ◦ Improved internal reporting over customer ownership • Expanding Wealth management services ◦ Business owner advisory services – differentiated consulting capability ◦ Enhanced dedicated sales team in Enterprise market ◦ Capitalizing on municipal opportunities • Improving referral infrastructure and incentives ◦ Salesforce investment tailored to RTC business model ◦ Redesign of internal referral program across all business lines • Approved commercial pipeline at 6/30/26 of $510 million, up 62.9% from 3/31/26 • MA rent control initiative - voted down by courts in June 2026 • Achieved target cost savings from Enterprise acquisition • Core system upgrade – October 2026 ◦ Streamline front line – back office communications and service needs ◦ Process and procedure review to align with improved technology ◦ Enhanced efficiency relating to cash management capabilities • Established Digital Innovation team ◦ In process: creation of AI governance model ◦ Mid-2026: develop high priority/high impact AI capabilities • Commercial loan origination system review ◦ 2026 project to redesign origination process (NCINO) • Expense focus reporting and monitoring ◦ Expanded and aligned FP&A and procurement capabilities Near-Term Priorities Growth Initiatives Efficiency Initiatives
20 • High quality franchise in attractive markets • Low risk balance sheet with strong core deposit funding base • Strong capital base, well-above regulatory mandated levels that enables maximum capital management flexibility • Earnings expected to notably improve as fixed assets reprice to prevailing market rates • Enterprise Bancorp acquisition is helping drive improved profitability metrics • Continued progress toward returning asset quality metrics to Independent Bank Corp. historical high performing levels • Focused on positioning the Company for durable and consistent long-term returns for investors Positioned to grow, build, and acquire to drive long-term value creation INDB Investment Merits
21 This presentation contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations and business of the Company. These statements may be identified by such forward-looking terminology as “expect,” “achieve,” “plan,” “believe,” “outlook,” “projected,” “future,” “positioned,” “continued,” “will,” “would,” “potential,” “anticipated,” “guidance,” “target” or similar statements or variations of such terms. Actual results may differ from those contemplated by these forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to: • adverse economic conditions in the regional and local economies within the New England region and the Company’s market area; • events impacting the financial services industry, including high profile bank failures, and any resulting decreased confidence in banks among depositors, investors, and other counterparties, as well as competition for deposits and significant disruption, volatility and depressed valuations of equity and other securities of banks in the capital markets; • the effects to the Company of an increasingly competitive labor market, including the possibility that the Company will have to devote significant resources to attract and retain qualified personnel; • political and policy uncertainties, changes in U.S. and international trade policies, such as tariffs or other factors, and the potential impact of such factors on the Company and its customers, including the potential for decreases in deposits and loan demand, unanticipated loan delinquencies, loss of collateral and decreased service revenues; • the instability or volatility in financial markets and unfavorable domestic or global general economic, political or business conditions, including international conflicts and hostilities, such as the ongoing conflict involving Israel, the U.S. and Iran; • unanticipated loan delinquencies, loss of collateral, decreased service revenues, and other potential negative effects on the Company’s local economies or the Company’s business caused by adverse weather conditions and natural disasters, changes in climate, public health crises or other external events and any actions taken by governmental authorities in response to any such events; • adverse changes or volatility in the local real estate market, including limitations on rent growth, increases in operating expenses, reductions in property cash flows, reductions in collateral values, and decreased investor demand, which may be exacerbated by legislative or regulatory actions such as rent control or tenant protection laws; • changes in interest rates and any resulting impact on interest earning assets and/or interest bearing liabilities, the level of voluntary prepayments on loans and the receipt of payments on mortgage-backed securities, decreased loan demand or increased difficulty in the ability of borrowers to repay variable rate loans; • risks related to the Company’s acquisition activities, including disruption to current plans and operations; difficulties in customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated; impairment of goodwill and/or other intangibles; and the Company’s inability to achieve expected revenues, cost savings, synergies, and other benefits at levels or within the timeframes originally anticipated; • the effect of laws, regulations, new requirements or expectations, or additional regulatory oversight in the highly regulated financial services industry, and the resulting need to invest in technology to meet heightened regulatory expectations, increased costs of compliance or required adjustments to strategy; • changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; • higher than expected tax expense, including as a result of failure to comply with general tax laws and changes in tax laws; • increased competition in the Company’s market areas, including competition that could impact deposit gathering, retention of deposits and the cost of deposits, increased competition due to the demand for innovative products and service offerings, and competition from non-depository institutions which may be subject to fewer regulatory constraints and lower cost structures; • a deterioration in the conditions of the securities markets; • a deterioration of the credit rating for U.S. long-term sovereign debt or uncertainties surrounding the federal budget; • inability to adapt to changes in information technology, including changes to industry accepted delivery models driven by a migration to the internet as a means of service delivery, including any inability to effectively implement new technology-driven products, such as artificial intelligence (“AI”); • electronic or other fraudulent activity within the financial services industry, especially in the commercial banking sector; • adverse changes in consumer spending and savings habits; • the effect of laws and regulations regarding the financial services industry, including the need to invest in technology to meet heightened regulatory expectations or the introduction of new requirements or expectations resulting in increased costs of compliance or required adjustments to strategy; • changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) generally applicable to the Company’s business and the associated costs of such changes; • the Company’s potential judgments, claims, damages, penalties, fines and reputational damage resulting from pending or future litigation and regulatory and government actions; • changes in accounting policies, practices and standards, as may be adopted by the regulatory agencies as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board, and other accounting standard setters; • operational risks related to the Company and its customers’ reliance on information technology; cyber threats, attacks, intrusions, and fraud; and outages or other issues impacting the Company or its third party service providers which could lead to interruptions or disruptions of the Company’s operating systems, including systems that are customer facing, and adversely impact the Company’s business; • risks related to the development and use of AI by the Company, its third-party vendors, clients and counterparties; and • any unexpected material adverse changes in the Company’s operations or earnings. The Company cautions readers not to place undue reliance on any forward-looking statements as the Company’s business and its forward-looking statements involve substantial known and unknown risks and uncertainties described above and in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q (“Risk Factors”). Except as required by law, the Company disclaims any intent or obligation to update publicly any such forward-looking statements, whether in response to new information, future events or otherwise. Any public statements or disclosures by the Company following this release which modify or impact any of the forward-looking statements contained in this release will be deemed to modify or supersede such statements in this release. In addition to the information set forth in this earnings presentation, you should carefully consider the Risk Factors. Forward Looking Statements
22 This presentation contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). This information may include operating net income and operating earnings per share (“EPS”), operating return on average assets, operating pre-provision net revenue return on average assets, operating return on average common equity, operating return on average tangible common equity, operating noninterest expense, operating noninterest expense, excluding core conversion costs, adjusted net interest margin (“adjusted NIM” or “adjusted margin”) and the associated adjusted loan yield (which is calculated by dividing annualized interest income on loans, plus or minus non-core or other adjustments, by average loans), tangible book value per share, tangible common equity ratio and return on average tangible common equity. Management reviews its adjusted margin and adjusted loan yield to determine any items that may impact these metrics that may be one-time in nature or not reflective of its core operating environment, such as low-yielding loans originated through government programs in response to the pandemic, or significant purchase accounting adjustments, or other adjustments such as nonaccrual interest reversals/recoveries and prepayment penalties. Management believes that adjusting for these items to arrive at an adjusted margin and adjusted loan yield provides additional insight into the operating environment and how management decisions impact the net interest margin and adjusted loan yield. Management also supplements its evaluation of financial performance with analysis of tangible book value per share (which is computed by dividing stockholders’ equity less goodwill and identifiable intangible assets, or “tangible common equity,” by common shares outstanding), the tangible common equity ratio (which is computed by dividing tangible common equity by “tangible assets,” defined as total assets less goodwill and other intangibles), and return on average tangible common equity (which is computed by dividing net income by average tangible common equity). The Company has included information on tangible book value per share, the tangible common equity ratio and return on average tangible common equity because management believes that investors may find it useful to have access to the same analytical tools used by management. As a result of merger and acquisition activity, the Company has recognized goodwill and other intangible assets in conjunction with business combination accounting principles. Excluding the impact of goodwill and other intangibles in measuring asset and capital values for the ratios provided, along with other bank standard capital ratios, provides a framework to compare the capital adequacy of the Company to other companies in the financial services industry. These non-GAAP measures should not be viewed as a substitute for operating results and other financial measures determined in accordance with GAAP. An item which management excludes when computing these non-GAAP measures can be of substantial importance to the Company’s results for any particular quarter or year. The Company’s non-GAAP performance measures, including operating net income, operating EPS, operating return on average assets, operating pre-provision net revenue return on average assets, operating return on average common equity, operating return on average tangible common equity, operating noninterest expense, operating noninterest expense, excluding core conversion costs, adjusted margin, tangible book value per share and the tangible common equity ratio, are not necessarily comparable to non-GAAP performance measures which may be presented by other companies. Non-GAAP Financial Measures
23 Appendix
24 (Dollars in thousands) June 30 2026 March 31 2026 December 31 2025 December 31 2024 December 31 2023 Tangible common equity Stockholders' equity (GAAP) $3,512,363 $3,542,041 $3,565,728 $2,993,120 $2,895,251 (a) Less: Goodwill and other intangibles 1,210,506 1,217,297 1,224,186 997,356 1,003,262 Tangible common equity (Non-GAAP) $2,301,857 $2,324,744 $2,341,542 $1,995,764 $1,891,989 (b) Tangible assets Assets (GAAP) $24,973,894 $24,783,580 $24,912,896 $19,373,565 $19,347,373 (c) Less: Goodwill and other intangibles 1,210,506 1,217,297 1,224,186 997,356 1,003,262 Tangible assets (Non-GAAP) $23,763,388 $23,566,283 $23,688,710 $18,376,209 $18,344,111 (d) Common shares 47,618,626 48,572,237 49,243,813 42,500,611 42,873,187 (c) Common equity to assets ratio (GAAP) 14.06% 14.29% 14.31% 15.45% 14.96% (a/c) Tangible common equity to tangible assets ratio (Non-GAAP) 9.69% 9.86% 9.88% 10.86% 10.31% (b/d) Book Value per share (GAAP) $73.76 $72.92 $72.41 $70.43 $67.53 (a/c) Tangible book value per share (Non-GAAP) $48.34 $47.86 $47.55 $46.96 $44.13 (b/c) Non-GAAP Reconciliation of Balance Sheet Metrics
25 Non-GAAP Reconciliation of Earnings Metrics (Unaudited, dollars in thousands) Three Months Ended June 30 2026 March 31 2026 December 31 2025 September 30 2025 June 30 2025 Net interest income (GAAP) $ 210,927 $ 212,459 $ 212,486 $ 203,344 $ 147,496 Noninterest income (GAAP) $ 42,391 $ 40,262 $ 41,445 $ 40,398 $ 34,308 Total revenue (GAAP) $ 253,318 $ 252,721 $ 253,931 $ 243,742 $ 181,804 Noninterest expense (GAAP) $ 140,272 $ 142,918 $ 154,370 $ 160,836 $ 108,798 Less: Merger and acquisition expense — 3,024 12,348 23,893 2,239 Noninterest expense on an operating basis (Non-GAAP) $ 140,272 $ 139,894 $ 142,022 $ 136,943 $ 106,559 Average assets $ 24,575,682 $ 24,702,391 $ 24,965,043 $ 24,930,449 $ 19,743,746 Average common equity (GAAP) $ 3,550,702 $ 3,591,389 $ 3,568,036 $ 3,557,840 $ 3,067,050 Less: Average goodwill and other intangibles 1,214,434 1,221,201 1,227,889 1,236,109 995,380 Average tangible common equity (Non-GAAP) $ 2,336,268 $ 2,370,188 $ 2,340,147 $ 2,321,731 $ 2,071,670 Reconciliation of Net Income (GAAP) to Operating Net Income (Non-GAAP) Net income (GAAP) $ 81,838 $ 79,919 $ 75,335 $ 34,262 $ 51,101 Provision for non-PCD acquired loans — — — 34,519 — Noninterest expense components Add - merger and acquisition expenses — 3,024 12,348 23,893 2,239 Noncore increases to income before taxes — 3,024 12,348 58,412 2,239 Net taxes associated with noncore items (1) — (830) (3,326) (15,320) (544) Add - adjustment for tax effect of previously incurred merger and acquisition expenses — — — — 657 Total tax impact — (830) (3,326) (15,320) 113 Noncore increases to net income — 2,194 9,022 43,092 2,352 Operating net income (Non-GAAP) $ 81,838 $ 82,113 $ 84,357 $ 77,354 $ 53,453 Weighted average common shares (diluted) 48,076,755 48,999,745 49,476,340 49,957,007 42,641,131 Diluted earnings per share (GAAP) $ 1.70 $ 1.63 $ 1.52 $ 0.69 $ 1.20 Diluted earnings per share, on an operating basis (Non-GAAP) $ 1.70 $ 1.68 $ 1.70 $ 1.55 $ 1.25 (1) The net taxes associated with noncore items is determined by assessing whether each noncore item is included or excluded from net taxable income and applying the Company’s combined marginal tax rate to only those items included in net taxable income. Ratios Return on average assets (GAAP) (calculated by dividing annualized net income by average assets) 1.34% 1.31% 1.20% 0.55% 1.04% Return on average assets on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average assets) 1.34% 1.35% 1.34% 1.23% 1.09% Return on average common equity (GAAP) (calculated by dividing annualized net income by average common equity) 9.24% 9.02% 8.38% 3.82% 6.68% Return on average common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average common equity) 9.24% 9.27% 9.38% 8.63% 6.99% Return on average tangible common equity (Non-GAAP) (calculated by dividing annualized net income by average tangible common equity) 14.05% 13.67% 12.77% 5.85% 9.89% Return on average tangible common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average tangible common equity) 14.05% 14.05% 14.30% 13.22% 10.35%
26 (Unaudited, dollars in thousands) Three Months Ended June 30 2026 March 31 2026 December 31 2025 September 30 2025 June 30 2025 Pre-provision net revenue (2) $ 113,046 $ 109,803 $ 99,561 $ 82,906 $ 73,006 Pre-provision net revenue on an operating basis Pre-provision net revenue $ 113,046 $ 109,803 $ 99,561 $ 82,906 $ 73,006 Add: merger and acquisition expenses $ — $ 3,024 $ 12,348 $ 23,893 $ 2,239 Pre-provision net revenue on an operating basis (Non-GAAP) $ 113,046 $ 112,827 $ 111,909 $ 106,799 $ 75,245 Pre-provision net revenue return on average assets on an operating basis Pre-provision net revenue on an operating basis (Non-GAAP) $ 113,046 $ 112,827 $ 111,909 $ 106,799 $ 75,245 Average Assets $ 24,575,682 $ 24,702,391 $ 24,965,043 $ 24,930,449 $ 19,743,746 Pre-provision net revenue return on average assets on an operating basis (Non-GAAP) 1.85% 1.85% 1.78% 1.70% 1.53% Non-GAAP Reconciliation of Pre-Provision Net Revenue (2) Pre-provision net revenue is calculated as net interest income (GAAP) plus total non-interest income (GAAP) less total non-interest expense (GAAP).
27 Three Months Ended June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Volume Interest Margin Impact Volume Interest Margin Impact Volume Interest Margin Impact Volume Interest Margin Impact Volume Interest Margin Impact (Unaudited, dollars in thousands) Reported total interest earning assets $ 22,135,137 $ 212,411 3.85% $ 22,227,686 $ 213,921 3.90% $ 22,484,104 $ 213,856 3.77% $ 22,430,232 $ 204,731 3.62% $ 17,672,302 $ 148,672 3.37% Acquisition fair value marks: Loan accretion (4,439) (0.08)% (9,186) (0.17)% (6,275) (0.11)% (4,729) (0.08)% (235) —% Nonaccrual interest, net 143 —% (54) —% (1,117) (0.02)% (84) —% (5) —% Other adjustments (1,453) (497) (0.01)% (1,626) (667) (0.01)% (1,842) (407) —% (2,088) 129 —% (2,291) 135 —% Adjusted margin (Non- GAAP) $ 22,133,684 $ 207,618 3.76% $ 22,226,060 $ 204,014 3.72% $ 22,482,262 $ 206,057 3.64% $ 22,428,144 $ 200,047 3.54% $ 17,670,011 $ 148,567 3.37% Non-GAAP Reconciliation of Adjusted Margin
决策记录链 · 只追加
每次领取产生一条记录,重新决策追加一条并以 supersedes 指向被替代的记录(ADR 0014)。
这条决策早于决策账本(2026-10-08 起逐条追加),没有追加记录。