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.
_____
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
/Apple%20logo%20on%20store%20front%20by%20frantic00%20via%20iStock.jpg)
