Key Highlights

  • Independent Bank's $0.64 quarterly Dividend trades ex-date September 28, 2026, payable October 9, unchanged from the prior quarter following an 8.5% increase earlier in 2026.
  • Second-quarter GAAP Net Income was $81.8 million, or $1.70 diluted EPS, compared with $51.1 million and $1.20 a year earlier, aided by the July 2025 Enterprise Bancorp Acquisition and continued net interest Margin trends.
  • Net Loan growth from March 31 was $105.8 million, or 9.8% annualized, while non-brokered deposits increased $38.2 million, or 3.2% annualized.
  • The company is integrating HCB Financial Corp., with a system conversion scheduled for November 9, 2026, and expects continued adjusted net interest margin expansion through the remainder of 2026.

Overview

Independent Bank Corp.'s (Nasdaq:INDB) $0.64 quarterly dividend yields approximately 3.19% and follows an 8.5% increase from $0.59 approved in March 2026. The dividend was declared alongside second-quarter net income of $81.8 million, or $1.70 diluted EPS, more than double the $51.1 million and $1.20 reported a year earlier, aided by the Enterprise Bancorp acquisition.

Dividend Program and Shareholder Returns

Independent Bank's board declared a $0.64 per common share dividend on September 17, 2026, payable October 9 to shareholders of record September 28. The company declared $0.64 per share during the second quarter, equivalent to approximately $30.5 million in aggregate dividends. The board increased the quarterly dividend by $0.05, or 8.5%, in March 2026, from $0.59 to $0.64, which management described as reflecting improved profitability and a commitment to sustainable returns on capital.

About the Company

Independent Bank Corp. is the Parent Company of Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts, serving Eastern Massachusetts, Worcester County and Southern New Hampshire through retail branches and commercial-banking and investment-management offices across Massachusetts, New Hampshire and Rhode Island.

Financial Performance Behind the Payout

Independent Bank reported second-quarter GAAP net income of $81.8 million, or $1.70 diluted EPS, compared with $51.1 million and $1.20 in the prior-year quarter. First-half net income was $161.8 million, or $3.33 diluted EPS, compared with $95.5 million and $2.24 a year earlier. The company incurred no merger-related costs in the second quarter, compared with $2.2 million in the prior-year quarter. Second-quarter net interest margin was 3.85%, down 5 basis points sequentially, while the adjusted margin increased 4 basis points to 3.76%. Net loan growth from March 31 was $105.8 million, or 9.8% annualized, and non-brokered deposits increased $38.2 million, or 3.2% annualized. Tangible common Equity was approximately 8.9% of assets.

HCB Integration Proceeding Alongside Continued Margin Trends

Management said the HCB Financial businesses would initially operate as separate subsidiaries, with a system conversion scheduled for November 9, 2026, and expected continued adjusted net interest margin expansion through the remainder of 2026, supported by remixing Mortgage and securities Assets toward the commercial pipeline. Asset quality remained broadly stable, though nonperforming loans increased because of a localized commercial-development exposure, with management stating that approximately two-thirds of the exposure related to one project being handled through legal processes. The absence of second-quarter merger-related expenses, compared with $2.2 million a year earlier, also aided the year-over-year comparison.

Outlook

Independent Bank's dividend has remained $0.64 per share since the March 2026 increase. HCB integration progress relative to the November 9 system-conversion date, adjusted net interest margin trends relative to the 3.76% level reported this quarter, and the localized commercial-development Credit exposure are the relevant considerations.