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Independent Bank Corp.: Q4 Earnings Snapshot

HANOVER, Mass. (AP) — HANOVER, Mass. (AP) — Independent Bank Corp. (INDB) on Thursday reported fourth-quarter net income of $75.3 million.

The bank, based in Hanover, Massachusetts, said it had earnings of $1.52 per share. Earnings, adjusted for non-recurring costs, came to $1.70 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.

The holding company for Rockland Trust posted revenue of $339 million in the period. Its revenue net of interest expense was $253.9 million, also surpassing Street forecasts.

For the year, the company reported profit of $205.1 million, or $4.44 per share. Revenue was reported as $857.5 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INDB at https://www.zacks.com/ap/INDB

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