INDB Independent Bank (INDB) Q2 FY26 earnings call
Independent Bank Corp. delivered solid Q2 FY26 results, marked by robust non-time deposit growth, strong C&I loan expansion, and a 4 basis point improvement in its adjusted net interest margin. The company also aggressively returned capital to shareholders through buybacks. These positives were partially offset by a smaller average balance sheet and significant commercial real estate payoffs. Management remains focused on organic growth, disciplined underwriting, and leveraging technology investments for future efficiency and client service.
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INDB operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Return on tangible common equity (ROTCE) | — | 14.05%And to summarize the quarter results, 2026 second quarter net income was $81.8 million, and diluted EPS was $1.70, resulting in a 1.34% return on assets, a 9.24% return on average common equity and a 14.05% return on average tangible common equity.Source: earnings call transcript | 15.4%Return on assets for the quarter was 1.42%, and return on average tangible common equity was 15.4%.Source: earnings call transcript | +1.3 pt |
| Common equity tier 1 ratio (CET1) | 12.87%As Jeff alluded to in his comments, we maintained our robust CET1 capital ratios at 12.87%, while repurchasing $63.3 million in capital during the quarter, and increasing our common dividend 8.5% to $0.64 per quarter.Source: earnings call transcript | 12.8%During the second quarter, we repurchased $75 million in capital, bringing our capital ratios down slightly, with the CET1 ratio at June 30 now at 12.8% and the tangible capital ratio at 9.7%.Source: earnings call transcript | 12.7%As of September 30, our CET1 ratio sits at 12.7%, and our tangible capital ratio was at 9.4%.Source: earnings call transcript | -0.1 pt |
| Net interest margin | — | 3.76%Spot margin for June stayed at 3.76%, which is what the full quarter was despite that cost of deposit increase I just mentioned.Source: earnings call transcript | 3.89%The net interest margin for the quarter of 3.89% increased 4 basis points from the prior quarter as a result of increased purchase accounting benefit, while the adjusted core margin, excluding purchase accounting and other noncore items, was flat at 3.76%.Source: earnings call transcript | +0.1 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.