HANOVER, Mass. (AP) — HANOVER, Mass. (AP) — Independent Bank Corp. (INDB) on Thursday reported first-quarter net income of $44.4 million.
The Hanover, Massachusetts-based bank said it had earnings of $1.04 per share. Earnings, adjusted for one-time gains and costs, came to $1.06 per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.
The holding company for Rockland Trust posted revenue of $244.5 million in the period. Its revenue net of interest expense was $178 million, also falling short of Street forecasts.
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