Independent Bank (US:INDB)2025-10-17 14:00Financial Performance - Net income for Q3 2025 was $343 million, or $069 per diluted share[6,7] - Operating net income was $774 million, or $155 per diluted share[6,7] - Return on average assets (ROAA) was 055%, while operating ROAA was 123%[7] - Net interest margin increased by 25 bps to 362%[9] Enterprise Bancorp Acquisition - The acquisition of Enterprise Bancorp closed on July 1, 2025[9,11] - Acquired balances from Enterprise included $51 billion in assets, $39 billion in loans, $44 billion in deposits, and $15 billion of wealth AUA[11] - Tangible book value dilution from the acquisition was 70%, less than the originally anticipated 98%[11] Balance Sheet and Loan Portfolio - Total deposits reached $20296 billion, including $4363 billion acquired from Enterprise, with organic growth of $39 million or 019%[13] - Total loans amounted to $18452 billion, including $3914 billion acquired from Enterprise, with organic growth of $6 million or 003%[15] - Commercial and industrial loans grew organically by $149 million, a 329% increase[15] Asset Quality - Nonperforming loans (NPLs) were $866 million, representing 047% of total loans[17] - Criticized and classified commercial loans totaled $5189 million, or 365% of total commercial loans[18] - Assets under administration increased to $92 billion, including $15 billion from the Enterprise acquisition and $360 million in organic growth[9,45]