Independent Bank Corp. · NASDAQ:INDB
Independent Bank — RBC Capital Markets Global Financial Institutions Conference 2026
26 slides from Independent Bank's conference presentation, Mar 9, 2026
Slide 1: RBC Capital Markets Global Financial Institutions Conference
Exhibit 99.1 Mark Ruggiero Chief Financial Officer & EVP/Consumer Lending James Rizzo EVP/Chief Commercial Banking Officer RBC Capital Markets Global Financial Institutions Conference March 10, 2026
Slide 2: Who We Are
2 Who We Are Independent Bank Corp. (Nasdaq: INDB) • Main Banking Subsidiary: Rockland Trust • Massachusetts based; New England focused Key Metrics as of December 31, 2025 $24.9 B TOTAL ASSETS $18.5 B LOANS $20.1 B DEPOSITS $9.2 B WEALTH MANAGEMENT $3.8 B MARKET CAP* *as of March 6, 2026
Slide 3: Our Corporate Promises
3 Our Corporate Promises: We remain committed to our colleagues, customers, community and shareholders. This connects our purpose to everything we do. It transforms what banking means from a mere transaction to the chance to make a positive difference in the lives of others. This motivates our colle
Slide 4: Strong, Resilient Franchise; Well Positioned for Growth
4 Safe & Sound Customer Centric • Full suite of retail banking, commercial banking, and wealth product offerings • Relationship-oriented commercial lending with strong local market knowledge and presence • Exceptional third party customer service recognition in both commercial and retail • Strong br
Slide 5: Momentum in Earnings Growth & Profitability Enhancement
5 Momentum in Earnings Growth & Profitability Enhancement (1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures. Operating Pre-Provision Net Revenue ROAA 1.48% 1.53% 1.53% 1.70% 1.78% Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 % 2.00% Operating ROAA 1.0
Slide 6: Strategic Market Share Positioning
6 Strategic Market Share Positioning Source: S&P Capital IQ Pro Note: Deposit/Market Share data above is as of June 30th of each respective year. 2025 data is inclusive of Enterprise acquisition. (1) Includes one electronic branch 2025 2024 Counties Branches Deposits ($bn) Market Share (%) Rank Bran
Slide 7: Q4 2025 Financial Highlights
7 ($ in millions, except per share) Q4’25 Q4’25 Operating(1) Q3’25 Q3’25 Operating(1) Q4’24 Q4’24 Operating(1) Net Income $ 75.3 $ 84.4 $ 34.3 $ 77.4 $ 50.0 $ 51.4 Diluted EPS $ 1.52 $ 1.70 $ 0.69 $ 1.55 $ 1.18 $ 1.21 ROAA 1.20% 1.34% 0.55% 1.23% 1.02% 1.05% ROACE 8.38% 9.38% 3.82% 8.63% 6.64% 6.82%
Slide 8: Recent Quarter Deposit Balances
8 Recent Quarter Deposit Balances (Dollars in millions) December 31 2025 September 30 2025 $ Increase (Decrease) % Increase (Decrease) Deposit Product Type Noninterest-bearing demand deposits $ 5,601 $ 5,636 $ (35) (0.6)% Savings and interest checking(2) 6,483 6,493 (10) (0.2)% Money market(2) 4,775
Slide 9: Recent Quarter Loan Balances
9 Recent Quarter Loan Balances (Dollars in millions) December 31 2025 September 30 2025 $ Increase (Decrease) % Increase (Decrease) Loan Category Commercial and industrial $ 4,612 $ 4,532 $ 80 1.77% Commercial real estate 8,275 8,241 34 0.41% Commercial construction 1,399 1,440 (41) (2.85)% Total co
Slide 10: CRE & Construction, C&I and Consumer Portfolios
10 95% CRE & Construction Portfolio $9.7 billion Multi-Family - 29.8% Residential - Related - 16.4% Office - 11.5% Mixed-Use Office - 1.8% Industrial/ Warehouse - 9.9% Lodging - 8.2% Retail - 16.6% Healthcare - 1.4% Other - 4.4% C&I Portfolio $4.6 billion Retail Trade - 17.1% Real Estate/Rental and
Slide 11: Asset Quality
11 Nonperforming Loans ($ in millions) $89.5 $56.2 $86.6 $83.6 0.62% 0.39% 0.47% 0.45% NPLs ($Mil) NPL as % of Total Loans Q1 2025 Q2 2025 Q3 2025 Q4 2025 0.25% 0.50% 0.75% $0 $50 $100 Commercial Criticized & Classified Loans ($ in millions) $486.3 $417.7 $460.2 $518.9 $472.9 4.47% 3.85% 4.25% 3.65%
Slide 12: Top Borrowers and Maturity Schedule
12 Top 20 Borrowers All Others Total Portfolio ($ in millions) Total Avg Loan ($ in millions) Total Avg Loan ($ in millions) Total Avg Loan Class A $303.9 $27.6 Class A $159.9 $4.8 Class A $463.8 $10.5 Class B/C 175.3 21.9 Class B/C 335.7 1.5 Class B/C 511.0 2.2 Medical 26.4 26.4 Medical 99.8 2.6 Me
Slide 13: Net Interest Margin
13 Net Interest Margin 3.33% 3.42% 3.37% 3.62% 3.77% 3.31% 3.37% 3.37% 3.54% 3.64% Reported NIM Adjusted NIM(1) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 3.00% 3.20% 3.40% 3.60% 3.80% 4.00% Net Interest Margin Dynamics Trend in Asset Yields vs. Funding Costs 2.14% 2.25% 2.32% 2.84% 2.96% 5.48% 5.44% 5
Slide 14: Tangible Book Value and Strong Capital Position
14 Tangible Book Value $41.12 $44.13 $46.96 $47.55 10.26% 10.31% 10.86% 9.88% TBV Per Share Tangible Equity/Tangible Assets % 2022 2023 2024 2025 $0.0 $10.0 $20.0 $30.0 $40.0 $50.0 0% 2% 4% 6% 8% 10% 12% 14% Key Capital Ratios Period Ended December 31 2025 September 30 2025 June 30 2025 Tangible Com
Slide 15: Securities Portfolio Composition
15 Available for Sale (AFS) Held to Maturity (HTM) Portfolio Composition at December 31, 2025 Book Value Fair Value Unrealized Gain/(Loss) Book Value Fair Value Unrealized Gain/(Loss) ($ in millions) U.S. government agency securities $ 229 $ 219 $ (10) $ — $ — $ — U.S. treasury securities 485 471 $
Slide 16: Focal Point | Investment Management and Advisory
16 Focal Point | Investment Management and Advisory $ in b ill io ns Assets Under Administration 13% CAGR $5.7 $5.8 $6.5 $7.0 $9.2 2021 2022 2023 2024 2025 $— $5.0 $10.0 $ in m ill io ns Revenues 9% CAGR $35.3 $36.8 $40.2 $42.7 $50.0 2021 2022 2023 2024 2025 $— $10.0 $20.0 $30.0 $40.0 $50.0 $ in m i
Slide 17: 2026 Expectations
17 Metric 2026 Expectations Loan Growth • Commercial and Industrial: Mid-single digit percentage increase • Commercial real estate and Construction: Low-single digit percentage increase • Consumer: flat to low-single digit percentage increase Deposit Growth • Core deposits: low to mid-single digit p
Slide 18: Strategic Priorities
18 • Integrating the Enterprise Bancorp. acquisition ◦ Promote depth and breath of product set ◦ Active community engagement ◦ Capitalize on new market opportunities • Growing C&I lending business ◦ Expanded middle market capabilities; 2025 growth driver ◦ Dedicated teams/verticals (non-profit, fran
Slide 19: INDB Investment Merits
19 • High quality franchise in attractive markets • Low risk balance sheet with strong core deposit funding base • Strong capital base, well-above regulatory mandated levels that enables maximum capital management flexibility • Earnings expected to notably improve as fixed assets reprice to prevaili
Slide 20: Forward-Looking Statements
20 This presentation contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations and business of the Company. These statements may be identified by such forward-looking termino
Slide 21: Non-GAAP Financial Information
21 This presentation contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). This information may include operating net income and operating earnings per share (“EPS”), operating return on a
Slide 22: Appendix
i INDEPENDENT Appendix BANK CORP.
Slide 23: Tangible Equity Non-GAAP Reconciliation
23 (Dollars in thousands) December 31 September 30 June 30 December 31 December 31 December 31 2025 2025 2025 2024 2023 2022 Tangible common equity Stockholders' equity (GAAP) $3,565,728 $3,546,887 $3,074,856 $2,993,120 $2,895,251 $2,886,701 (a) Less: Goodwill and other intangibles 1,224,186 1,231,2
Slide 24: Non-GAAP Reconciliation of Earnings Metrics
24 Non-GAAP Reconciliation of Earnings Metrics (Unaudited, dollars in thousands) Three Months Ended December 31 2025 September 30 2025 June 30 2025 March 31 2025 December 31 2024 Net interest income (GAAP) $ 212,486 $ 203,344 $ 147,496 $ 145,505 $ 144,661 Noninterest income (GAAP) $ 41,445 $ 40,398
Slide 25: Pre-Provision Net Revenue Reconciliation
25 (Unaudited, dollars in thousands) Three Months Ended December 31 2025 September 30 2025 June 30 2025 March 31 2025 December 31 2024 Pre-provision net revenue (3) $ 99,561 $ 82,906 $ 73,006 $ 72,166 $ 70,430 Pre-provision net revenue on an operating basis Pre-provision net revenue $ 99,561 $ 82,90
Slide 26: Adjusted Net Interest Margin Reconciliation
26 Three Months Ended December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 Volume Interest Margin Impact Volume Interest Margin Impact Volume Interest Margin Impact Volume Interest Margin Impact Volume Interest Margin Impact (Unaudited, dollars in thousands) Reported t
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