HANOVER, Mass. (AP) — HANOVER, Mass. (AP) — Independent Bank Corp. (INDB) on Thursday reported fourth-quarter net income of $54.8 million.
The Hanover, Massachusetts-based bank said it had earnings of $1.26 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.
The holding company for Rockland Trust posted revenue of $239.2 million in the period. Its revenue net of interest expense was $177.2 million, which also topped Street forecasts.
For the year, the company reported profit of $239.5 million, or $5.42 per share. Revenue was reported as $731.1 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