Independent Bank Corp. (INDB) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. Thank you for joining us and welcome to the Independent Bank Corp. Second Quarter 2026 Earnings Call. Joining me on today's call is Jeff Tengel, CEO, and Mark Ruggero, CFO. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. Before proceeding, please note that during this call we will be making forward-looking statements. Actual results may differ materially from these statements due to a number of factors, including those described in our earnings release and other SEC filings. We undertake no obligation to publicly update any such statements. Please go ahead. Thank you. Good morning and thanks for joining us today. I'm accompanied this morning by CFO and head of consumer lending, Mark Ruggiero. Before we discuss our quarterly results, I wanted to share an update on my health. We released an 8K in February disclosing that I had been diagnosed with non-Hodgkin's lymphoma. I'm happy to report that I have finished my treatments and learned last Friday that I am cancer-free and in remission. So on that good note, I'd like to turn to our quarterly results. While activity was slow early in the second quarter, momentum accelerated as the quarter progressed, resulting in solid deposit growth, strong C&I loan growth, continued improvement in the adjusted NIM, aggressive buyback activity, and excellent results in our wealth management business. These positives were offset by a smaller average balance sheet and lower loan accretion income. Our deposit franchise continued to differentiate itself, producing over $300 million of non-time deposits, representing 7% annualized growth, while maintaining a stable cost of d...