Independent Bank (US:INDB) ZACKS·2025-01-17 00:01Core Insights - Independent Bank Corp. reported revenue of $176.85 million for Q4 2024, a slight year-over-year decline of 0.2% [1] - The earnings per share (EPS) for the same period was $1.21, down from $1.26 a year ago, but exceeded the consensus estimate of $1.16 by 4.31% [1] - The revenue surpassed the Zacks Consensus Estimate of $175.82 million by 0.59% [1] Financial Performance Metrics - Efficiency Ratio was reported at 60.2%, higher than the estimated 58% by analysts [4] - Net interest margin (FTE) matched the analyst estimate at 3.3% [4] - Average balance of total interest-earning assets was $17.42 billion, slightly above the $17.37 billion estimate [4] - Total Non-Interest Income was $32.19 million, below the average estimate of $33.16 million [4] - Net Interest Income was reported at $144.66 million, exceeding the estimate of $142.43 million [4] - Loan level derivative income was $0.44 million, lower than the estimated $0.90 million [4] - Interchange and ATM fees were $4.88 million, slightly below the estimate of $4.94 million [4] - Deposit account fees were $7.12 million, surpassing the estimate of $6.55 million [4] - Other noninterest income was $5.57 million, below the estimate of $6.67 million [4] - Mortgage banking income was $1.06 million, exceeding the estimate of $0.83 million [4] - Investment management income was $10.78 million, slightly below the estimate of $11.07 million [4] Stock Performance - Shares of Independent Bank Corp. returned -1.4% over the past month, compared to the Zacks S&P 500 composite's -1.6% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]