HANOVER, Mass. (AP) — HANOVER, Mass. (AP) — Independent Bank Corp. (INDB) on Thursday reported first-quarter net income of $79.9 million.
The Hanover, Massachusetts-based bank said it had earnings of $1.63 per share. Earnings, adjusted for one-time gains and costs, came to $1.68 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.70 per share.
The holding company for Rockland Trust posted revenue of $330.5 million in the period. Its revenue net of interest expense was $252.7 million, also falling short of Street forecasts.
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