• Independent Bank Corp. has reported its fourth-quarter and full-year 2025 results, with Q4 net interest income rising to US$212.49 million and net income to US$75.34 million, while full-year net interest income reached US$708.83 million and net income US$205.12 million.
• The quarter also reflected the completed integration of Enterprise Bancorp, ongoing share repurchases totaling 912,528 shares since July 2025, and higher net charge-offs of US$5.35 million, underscoring both growth and evolving credit costs.
• We’ll now look at how the strong net interest income performance and Enterprise integration shape Independent Bank’s broader investment narrative.

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What Is Independent Bank's Investment Narrative?

To own Independent Bank, you have to be comfortable with a regional lender that is leaning into net interest income, commercial loan growth and acquisitions like Enterprise Bancorp, while accepting relatively low current returns on equity and a premium price-to-earnings multiple versus many peers. The latest quarter reinforces that story: stronger net interest income and an earnings beat support the bull case that Enterprise is being absorbed effectively and that scale benefits are coming through, helped by active capital returns via buybacks and dividends. At the same time, higher net charge-offs and prior insider selling keep credit quality and governance firmly on the risk list, and could temper enthusiasm if they persist. So this earnings print slightly enhances the near term catalysts, but it also sharpens the focus on credit costs.

However, rising charge offs are a newer risk that shareholders should not ignore. Independent Bank's shares have been on the rise but are still potentially undervalued by 12%. Find out what it's worth.

Exploring Other Perspectives

Two Simply Wall St Community fair value estimates cluster between US$83.40 and US$88.98, close to recent targets, yet Q4’s higher charge offs and low ROE remind you that upside rests on disciplined credit performance and execution.

Explore 2 other fair value estimates on Independent Bank - why the stock might be worth just $83.40!

Build Your Own Independent Bank Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Independent Bank research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Independent Bank research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Independent Bank's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.