Independent Bank (INDB) Stephens 7th Annual Summer Bank Bash presentation summary

Company overview and market position

• Operates primarily in Massachusetts and New England with $24.8B in assets, $18.4B in loans, and $20.1B in deposits as of March 31, 2026.

• Maintains a strong, diversified deposit base and a conservative credit culture.

• Holds leading market share in Plymouth County (26.9%) and significant presence in other key counties.

• Recognized for employee experience, financial performance, and community impact, including multiple awards.

Financial performance and profitability

• Q1 2026 operating EPS was $1.68, with operating ROAA at 1.35% and ROATCE at 14.05%.

• Net interest margin expanded to 3.90% reported and 3.72% adjusted.

• Loans decreased by 0.4% and deposits by 0.1% quarter-over-quarter, reflecting seasonality and portfolio runoff.

• Tangible book value per share grew by 0.7% to $47.86.

• Consistent margin expansion and strong profitability trends observed over recent quarters.

Asset quality and capital strength

• Nonperforming loans remain low, with NPLs at 0.52% of total loans in Q1 2026.

• Criticized and classified loans as a percentage of total commercial loans have declined.

• Net charge-offs consistently below peer averages over a 20-year period.

• Strong capital ratios: CET1 at 12.89%, total capital at 15.76%, and tangible common equity/tangible assets at 9.86%.

• Ongoing share repurchases and 15 consecutive years of dividend increases.