Independent Bank Corp (Massachusetts) (INDB) News & EventsINDBNews & EventsIndependent Bank Corp (Massachusetts)

Nasdaq Composite Falls 1.5%, Netflix Guides Below Expectations

More pain in the tech arena drove major indices lower on Thursday, with Nasdaq Composite's 1.5% decline seen as the biggest retreat.  The 0.5% decline in S&P 500 also cut into the benchmark's two-day rally as  Communication Services - yesterday's best performing sector - was today's worst performing sector, as Alphabetand Meta Platformsfell 4.4% and 2.5% respectively.  Investors are turning more selective with regards to hyperscalers as Microsoftand Applecontinued their advance, though the selloff in the hardware, semiconductors and memory has become more indiscriminate.  Software was the winning area in the tech space as IBMbounced back with 4% following its 25% post-pre-announcement decline on Tuesday.  Outside of tech, Consumer Defensive, Real Estate, and Healthcare were the top three performing sectors in the S&P 500.In the opening hour of the evening session S&P, E-minis, and Nasdaq 100 contracts are down by about a decimal.  In commodities, WTI Crude Oil is back but just barely below $80 per barrel.  Precious metals were also under pressure, with Gold moving further below $4000 and Silver now below $56 per ounce.Key earnings afterhours saw the spotlight fall on Netflix, which was in-line on Q2 results but guided Q3 below consensus, sending shares to their lowest levels since late 2024.  Alcoawas also down modestly following a miss on both earnings and revenue in the quarter.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER -Construction Partnersup 4.5% after admission into S&P SmallCap 600 indexSweetgreenup 2.1% after reports that Taylor Farms may be linked to parasitic illness outbreakDOWN AFTER EARNINGS -Intuitive Surgicaldown 11.8%Independent Bankdown 9.4%Netflixdown 8.6%STAAR Surgicaldown 8.5%First Financial Banksharesdown 3.4%Alcoadown 3.2%F.N.B. Corporationdown 2.6%

Independent Bank Corp Reports Q2 Revenue of $253.3M

Reports Q2 revenue $253.3M, consensus $259..0M "Our second quarter results reflect strong execution on many of our strategic priorities. Our low cost, core deposit funding source improved, commercial and industrial loan balances increased nicely, our fee income businesses continued to grow, and we prudently returned excess capital to our shareholders." said Jeffrey Tengel, the Chief Executive Officer of Independent Bank Corp. and Rockland Trust Company. "Our commitment to the communities we serve continues to pave the way for long-term growth and success for all our constituents."

Independent Bank Corp Reports 1.31% Return on Assets for Q1 2026

The company generated a return on average assets and a return on average common equity of 1.31% and 9.02%, respectively, for the first quarter of 2026, as compared to 1.20% and 8.38%, respectively, for the prior quarter. On an operating basis, the company generated a return on average assets and a return on average common equity of 1.35% and 9.27%, respectively, for the first quarter of 2026, as compared to 1.34% and 9.38%, respectively, for the prior quarter. The Company's net interest margin of 3.90% increased 13 basis points compared to the prior quarter, while the adjusted margin increased 8 basis points to 3.72%. "Our first quarter results represent another step forward in driving improved profitability while remaining disciplined in our strategies during these uncertain times," said Jeffrey Tengel, the Chief Executive Officer of Independent Bank Corp. and Rockland Trust Company. "We are prioritizing our long-term relationship banking model while prudently investing in our future and returning capital to our shareholders."