Independent Bank (INDB) Q4 FY2025 earnings: revenue $254 million, up 43.6% on the year

Independent Bank Corp. (INDB) reported revenue of $254 million for Q4 FY2025, the quarter ended 31 December 2025, up 43.6% on the same quarter a year earlier. Net income was $75 million, up 50.6% on the year. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2026.

Revenue$254 millionup 43.6%

Net income$75 millionup 50.6%

Diluted EPSn/a

QuarterQ4 FY2025ended 31 December 2025

The quarter, against the one before and a year earlier

Line	Q4 FY2025	Q3 FY2025	Q4 FY2024	Change on the year
Revenue	254	244	177	+43.6%
Pre-tax income	94.8	44.4	62.9	+50.7%
Net income	75.3	34.3	50.0	+50.6%
Net margin	29.7%	14.1%	28.3%
Diluted EPS	n/a	$0.69	$1.18	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2025	Q3 FY2025	Q4 FY2024	Change on the year
Operating cash flow	78.9	52.2	42.9	+84.0%
Capital expenditure	3.4	2.5	6.4	-46.7%
Free cash flow	75.5	49.7	36.5	+106.9%
Cash from investing	-32.9	72.5	-128	n/a
Cash from financing	-185	-115	-120	n/a
Depreciation and amortisation	9.9	12.8	9.4	+5.3%
Share-based compensation	1.9	2.2	1.6	+20.6%
Buybacks	37.5	23.4	0.0	n/a
Dividends paid	29.4	25.2	24.2	+21.4%
Dividend per share	n/a	$0.59	n/a	n/a
Diluted shares, weighted	46m	50m	43m	+8.7%
Shares outstanding at period end	49m	50m	43m	+15.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2025	Q3 FY2025	Q4 FY2024	Change on the year
Shareholders' equity	3,566	3,547	2,993	+19.1%
Deposits	20,127	20,296	15,306	+31.5%
Debt	359	n/a	62.9	+471.7%
Other liabilities	861	1,150	1,012	-14.9%
Total liabilities and equity	24,913	24,993	19,374	+28.6%
Fixed assets	218	221	193	+12.9%
Goodwill	1,091	1,083	985	+10.7%
Intangible assets	134	142	12.3	+987.4%
Securities held for sale or to maturity	2,004	1,941	1,251	+60.2%
Cash and equivalents	772	911	220	+251.0%
Other assets	20,694	20,695	16,712	+23.8%
Total assets	24,913	24,993	19,374	+28.6%

Questions

What was Independent Bank's revenue in Q4 FY2025?

Independent Bank (INDB) reported revenue of $254 million for Q4 FY2025, the quarter ended 31 December 2025, up 43.6% on the same quarter a year earlier.

How much did Independent Bank earn in Q4 FY2025?

Net income for Q4 FY2025 was $75 million, up 50.6% on the year.

When did Independent Bank report Q4 FY2025 results?

Independent Bank filed its 10-K for the year that ended with the quarter on 27 February 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	183	177	167	170	175	177	178	182	244	254	253	253
Interest expense	53.0	62.1	70.6	73.9	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	80.1	70.9	62.5	66.4	55.3	62.9	57.2	65.8	44.4	94.8	104	107
Net income	60.8	54.8	47.8	51.3	42.9	50.0	44.4	51.1	34.3	75.3	79.9	81.8
Net margin	33%	31%	29%	30%	25%	28%	25%	28%	14%	30%	32%	32%
Diluted EPS	$1.38	$1.26	$1.12	$1.21	$1.01	$1.18	$1.04	$1.20	$0.69	n/a	$1.63	$1.70
Operating cash flow	81.3	53.5	51.1	65.6	70.2	42.9	13.3	107	52.2	78.9	117	73.4
Capital expenditure	2.9	6.3	4.5	3.7	5.9	6.4	2.0	4.2	2.5	3.4	5.6	6.4
Free cash flow	78.4	47.2	46.7	61.9	64.4	36.5	11.3	103	49.7	75.5	112	67.0
Buybacks	0.0	69.0	31.0	0.0	0.0	0.0	0.0	0.0	23.4	37.5	63.3	75.0
Dividends paid	24.3	24.3	23.6	24.2	24.2	24.2	24.2	25.1	25.2	29.4	29.1	31.1
Shares outstanding	44m	43m	42m	42m	42m	43m	43m	43m	50m	49m	49m	48m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2025, filed 27 February 2026, accession 0000776901-26-000058: the filing on EDGAR. All of Independent Bank Corp.'s filings: EDGAR company page.

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