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Get filing alertsIndependent Bank reports Q2 2026 EPS of $1.70, updates loan growth guidance
Filed July 27, 2026 · Period ending July 27, 2026 · ~1 min read
Key Changes
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Q2 2026 operating EPS of $1.70 with net interest margin expanding 4 basis points to 3.76%. Deposits grew $294.6 million (1.5%) while loans declined $31.2 million (0.2%). Repurchased 964,000 shares for $75 million.
Exhibit 99.1 view on EDGAR → -
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Updated 2026 loan growth guidance: mid-single digit growth in commercial and industrial, flat to low-single digit decline in commercial real estate and construction, low-single digit growth in consumer. Core operating expenses guided to $553-$557 million plus $5-$6 million in one-time system upgrade costs.
Exhibit 99.1 view on EDGAR → -
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Nonperforming loans increased to $103.6 million (0.56% of total loans). Commercial criticized and classified loans totaled $545.6 million (3.86% of total commercial loans).
Exhibit 99.1 view on EDGAR → -
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Office portfolio totals $1.024 billion (10.9% of CRE and construction) with $115.6 million criticized, $8.7 million classified performing, and $39.9 million nonperforming. Portfolio includes $430.0 million Class A, $478.8 million Class B/C, and $114.7 million medical office.
Exhibit 99.1 view on EDGAR → -
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Wealth management assets under administration reached $9.5 billion (13% CAGR since 2021) with first half 2026 revenues of $29.1 million. Expanding into Enterprise Bancorp footprint with enhanced product offerings.
Exhibit 99.1 view on EDGAR →
Summary
Independent Bank disclosed Q2 2026 results and updated 2026 guidance in an investor presentation for the KBW Summer Bank Conference. The company reported operating earnings per share of $1.70 with net interest margin expanding 4 basis points to 3.76% on an adjusted basis.
Deposit growth of $294.6 million (1.5%) outpaced a modest $31.2 million (0.2%) loan decline, while the company returned capital through $75 million in share repurchases. The updated guidance reflects a more granular loan growth outlook, with mid-single digit growth expected in commercial and industrial lending offset by flat to low-single digit declines in commercial real estate and construction.
Core operating expenses are guided to $553-$557 million plus $5-$6 million in one-time costs for a core system upgrade. Asset quality metrics show nonperforming loans at 0.56% of total loans and commercial criticized and classified loans at 3.86% of total commercial loans. The company provided detailed disclosure on its $1.024 billion office portfolio, which represents 10.9% of CRE and construction, with $115.6 million criticized and $39.9 million nonperforming. Wealth management continues to grow with assets under administration reaching $9.5 billion.
Section-by-Section Diff
Event · Exhibit 99.1
Independent Bank Corp. filed an investor presentation for the 2026 KBW Summer Bank Conference disclosing Q2 2026 results and 2026 guidance.
Added in current filing · view on EDGAR →
Loan Growth Updated • Commercial and Industrial: Mid-single digit percentage increase • Commercial real estate and Construction: Flat to low-single digit percentage decrease • Consumer: low-single digit percentage increase ... Non-interest Expense Updated • Core operating expenses in the $553 - $557 million range • $5 - $6 million of one-time, non-capitalizable costs related to core system upgrade
The company updated its 2026 guidance for loan growth, now expecting mid-single digit growth in commercial and industrial loans, flat to low-single digit decline in commercial real estate and construction, and low-single digit growth in consumer loans. Non-interest expense guidance was updated to $553-$557 million in core operating expenses plus $5-$6 million in one-time costs for a core system upgrade. Net interest margin guidance remains 3.90%-3.95% for Q4 2026. Note: these figures were previously disclosed in the company's Jul 16, 2026 8-K.
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