Independent Bank Corp (INDB) Reports Q2 2025 Net Income of $51.1M

By Hao Liu • Friday, July 18 10:25 • Permanent Link

Independent Bank Corp. (NASDAQ Global Select Market: INDB) has reported its second-quarter 2025 financial results, highlighting a net income of $51.1 million, or $1.20 per diluted share. This represents an increase from the first quarter of 2025, where the net income was $44.4 million, or $1.04 per diluted share.

The company's return on average assets and return on average common equity for the second quarter of 2025 were 1.04% and 6.68%, respectively, compared to 0.93% and 5.94%, respectively, for the prior quarter. On an operating basis, the company generated a return on average assets and a return on average common equity of 1.09% and 6.99%, respectively, for the second quarter of 2025, as compared to 0.94% and 6.05%, respectively, for the prior quarter.

Deposit balances stood at $15.9 billion at June 30, 2025, reflecting an increase of $217.7 million, or 1.4%, from the first quarter of 2025. Loan balances also saw a modest increase, reaching $14.5 billion at June 30, 2025, a $41.9 million, or 0.3%, increase from the first quarter of 2025.

Tangible book value grew to $48.80 per share at June 30, 2025, by $0.99 from the prior quarter. The total assets of the company at June 30, 2025, increased to $20.0 billion, a $160.7 million, or 0.8%, increase from the prior quarter.

Net interest income for the second quarter of 2025 increased to $147.5 million, compared to $145.5 million for the prior quarter. The net interest margin decreased by 5 basis points to 3.37%.

Noninterest income for the second quarter of 2025 was $34.3 million, a $1.8 million, or 5.4%, increase from the prior quarter. Noninterest expense for the second quarter of 2025 was $108.8 million, representing an increase of $2.9 million, or 2.8%, from the prior quarter.

The company's tax rate remained consistent at 22.35% for the second quarter of 2025. The asset quality metrics showed improvements, with nonperforming loans decreasing to $56.2 million at June 30, 2025, from $89.5 million at March 31, 2025.

As a result of these announcements, the company's shares have moved 2.37% on the market, and are now trading at a price of $65.69. For the full picture, make sure to review INDEPENDENT BANK CORP's 8-K report.

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