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Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Information reported internally for performance assessment by the chief operating decision maker is as follows, inclusive of reconciliations of significant segment totals to the interim condensed consolidated financial statements for the three and nine month periods ended September 30, 2025 and 2024.
| Three Months Ended September 30, 2025
| Independent Bank |  | Other(1) |  | Eliminations |  | Total
| (In thousands)
INTEREST INCOME |  |  |  |  |  |  |
Interest and fees on loans | $ | 61,254 |  |  | $ | — |  |  | $ | 71 |  |  | $ | 61,325 |
Interest on securities | 6,427 |  |  | — |  |  | — |  |  | 6,427 |
Other investments | 1,538 |  |  | 343 |  |  | (343) |  |  | 1,538 |
Total Interest Income | 69,219 |  |  | 343 |  |  | (272) |  |  | 69,290 |
INTEREST EXPENSE |  |  |  |  |  |  |
Deposits | 22,315 |  |  | — |  |  | (343) |  |  | 21,972 |
Other borrowings and subordinated debt and debentures | 139 |  |  | 1,818 |  |  | — |  |  | 1,957 |
Total Interest Expense | 22,454 |  |  | 1,818 |  |  | (343) |  |  | 23,929 |
Net Interest Income | 46,765 |  |  | (1,475) |  |  | 71 |  |  | 45,361 |
Provision for credit losses | 1,991 |  |  | — |  |  | — |  |  | 1,991 |
Net Interest Income After Provision for Credit Losses | 44,774 |  |  | (1,475) |  |  | 71 |  |  | 43,370 |
NON-INTEREST INCOME |  |  |  |  |  |  |
Interchange income | 4,157 |  |  | — |  |  | — |  |  | 4,157 |
Service charges on deposit accounts | 3,131 |  |  | — |  |  | — |  |  | 3,131 |
Net gains on mortgage loans | 1,425 |  |  | — |  |  | 49 |  |  | 1,474 |
Mortgage loan servicing, net | 74 |  |  | — |  |  | — |  |  | 74 |
Other | 3,010 |  |  | 310 |  |  | (219) |  |  | 3,101 |
Total Non-interest Income | 11,797 |  |  | 310 |  |  | (170) |  |  | 11,937 |
NON-INTEREST EXPENSE |  |  |  |  |  |  |
Compensation and employee benefits | 21,016 |  |  | 144 |  |  | (35) |  |  | 21,125 |
Data processing | 3,764 |  |  | 20 |  |  | — |  |  | 3,784 |
Occupancy, net | 2,121 |  |  | 6 |  |  | — |  |  | 2,127 |
Interchange expense | 1,180 |  |  | — |  |  | — |  |  | 1,180 |
Furniture, fixtures and equipment | 891 |  |  | 1 |  |  | — |  |  | 892 |
Advertising | 523 |  |  | 3 |  |  | — |  |  | 526 |
FDIC deposit insurance | 615 |  |  | — |  |  | — |  |  | 615 |
Legal and professional | 546 |  |  | 136 |  |  | — |  |  | 682 |
Loan and collection | 618 |  |  | — |  |  | — |  |  | 618 |
Communications | 460 |  |  | 5 |  |  | — |  |  | 465 |
Other | 1,915 |  |  | 202 |  |  | — |  |  | 2,117 |
Total Non-interest Expense | 33,649 |  |  | 517 |  |  | (35) |  |  | 34,131 |
Income Before Income Tax | 22,922 |  |  | (1,682) |  |  | (64) |  |  | 21,176 |
Income tax expense | 4,122 |  |  | (435) |  |  | (13) |  |  | 3,674 |
Net Income | $ | 18,800 |  |  | $ | (1,247) |  |  | $ | (51) |  |  | $ | 17,502 |
OTHER SEGMENT DISCLOSURES |  |  |  |  |  |  |
Depreciation | 1,125 |  |  | — |  |  | — |  |  | 1,125 |
Amortization | 121 |  |  | — |  |  | — |  |  | 121 |
Total assets | 5,486,851 |  |  | 538,943 |  |  | (532,681) |  |  | 5,493,113 |
(1) Includes amounts relating to our parent company and certain insignificant operations.
| Three Months Ended September 30, 2024
| Independent Bank |  | Other(1) |  | Eliminations |  | Total
| (In thousands)
INTEREST INCOME |  |  |  |  |  |  |
Interest and fees on loans | $ | 58,345 |  |  | $ | — |  |  | $ | 65 |  |  | $ | 58,410 |
Interest on securities | 7,906 |  |  | — |  |  | — |  |  | 7,906 |
Other investments | 2,018 |  |  | 487 |  |  | (487) |  |  | 2,018 |
Total Interest Income | 68,269 |  |  | 487 |  |  | (422) |  |  | 68,334 |
INTEREST EXPENSE |  |  |  |  |  |  |
Deposits | 24,949 |  |  | — |  |  | (487) |  |  | 24,462 |
Other borrowings and subordinated debt and debentures | 552 |  |  | 1,466 |  |  | — |  |  | 2,018 |
Total Interest Expense | 25,501 |  |  | 1,466 |  |  | (487) |  |  | 26,480 |
Net Interest Income | 42,768 |  |  | (979) |  |  | 65 |  |  | 41,854 |
Provision for credit losses | 1,488 |  |  | — |  |  | — |  |  | 1,488 |
Net Interest Income After Provision for Credit Losses | 41,280 |  |  | (979) |  |  | 65 |  |  | 40,366 |
NON-INTEREST INCOME |  |  |  |  |  |  |
Interchange income | 4,146 |  |  | — |  |  | — |  |  | 4,146 |
Service charges on deposit accounts | 3,085 |  |  | — |  |  | — |  |  | 3,085 |
Net gains on mortgage loans | 2,125 |  |  | — |  |  | 52 |  |  | 2,177 |
Mortgage loan servicing, net | (3,130) |  |  | — |  |  | — |  |  | (3,130) |
Other | 3,142 |  |  | 275 |  |  | (187) |  |  | 3,230 |
Total Non-interest Income | 9,368 |  |  | 275 |  |  | (135) |  |  | 9,508 |
NON-INTEREST EXPENSE |  |  |  |  |  |  |
Compensation and employee benefits | 19,951 |  |  | 129 |  |  | (32) |  |  | 20,048 |
Data processing | 3,360 |  |  | 19 |  |  | — |  |  | 3,379 |
Occupancy, net | 1,887 |  |  | 6 |  |  | — |  |  | 1,893 |
Interchange expense | 1,149 |  |  | — |  |  | — |  |  | 1,149 |
Furniture, fixtures and equipment | 931 |  |  | 1 |  |  | — |  |  | 932 |
Advertising | 580 |  |  | 1 |  |  | — |  |  | 581 |
FDIC deposit insurance | 664 |  |  | — |  |  | — |  |  | 664 |
Legal and professional | 607 |  |  | 80 |  |  | — |  |  | 687 |
Loan and collection | 657 |  |  | — |  |  | — |  |  | 657 |
Communications | 514 |  |  | 5 |  |  | — |  |  | 519 |
Other | 1,888 |  |  | 186 |  |  | — |  |  | 2,074 |
Total Non-interest Expense | 32,188 |  |  | 427 |  |  | (32) |  |  | 32,583 |
Income Before Income Tax | 18,460 |  |  | (1,131) |  |  | (38) |  |  | 17,291 |
Income tax expense | 3,725 |  |  | (237) |  |  | (7) |  |  | 3,481 |
Net Income | $ | 14,735 |  |  | $ | (894) |  |  | $ | (31) |  |  | $ | 13,810 |
OTHER SEGMENT DISCLOSURES |  |  |  |  |  |  |
Depreciation | 1,283 |  |  | — |  |  | — |  |  | 1,283 |
Amortization | 129 |  |  | — |  |  | — |  |  | 129 |
Total assets | 5,254,269 |  |  | 541,422 |  |  | (536,423) |  |  | 5,259,268 |
(1) Includes amounts relating to our parent company and certain insignificant operations.
| Nine Months Ended September 30, 2025
| Independent Bank |  | Other(1) |  | Eliminations |  | Total
| (In thousands)
INTEREST INCOME |  |  |  |  |  |  |
Interest and fees on loans | $ | 178,419 |  |  | $ | — |  |  | $ | 209 |  |  | $ | 178,628 |
Interest on securities | 19,802 |  |  | — |  |  | — |  |  | 19,802 |
Other investments | 3,882 |  |  | 1,082 |  |  | (1,082) |  |  | 3,882 |
Total Interest Income | 202,103 |  |  | 1,082 |  |  | (873) |  |  | 202,312 |
INTEREST EXPENSE |  |  |  |  |  |  |
Deposits | 64,471 |  |  | — |  |  | (1,082) |  |  | 63,389 |
Other borrowings and subordinated debt and debentures | 585 |  |  | 4,677 |  |  | — |  |  | 5,262 |
Total Interest Expense | 65,056 |  |  | 4,677 |  |  | (1,082) |  |  | 68,651 |
Net Interest Income | 137,047 |  |  | (3,595) |  |  | 209 |  |  | 133,661 |
Provision for credit losses | 4,212 |  |  | — |  |  | — |  |  | 4,212 |
Net Interest Income After Provision for Credit Losses | 132,835 |  |  | (3,595) |  |  | 209 |  |  | 129,449 |
NON-INTEREST INCOME |  |  |  |  |  |  |
Interchange income | 10,674 |  |  | — |  |  | — |  |  | 10,674 |
Service charges on deposit accounts | 8,926 |  |  | — |  |  | — |  |  | 8,926 |
Net gains on mortgage loans | 5,231 |  |  | — |  |  | 177 |  |  | 5,408 |
Mortgage loan servicing, net | (72) |  |  | — |  |  | — |  |  | (72) |
Other | 8,429 |  |  | 938 |  |  | (617) |  |  | 8,750 |
Total Non-interest Income | 33,188 |  |  | 938 |  |  | (440) |  |  | 33,686 |
NON-INTEREST EXPENSE |  |  |  |  |  |  |
Compensation and employee benefits | 62,329 |  |  | 409 |  |  | (107) |  |  | 62,631 |
Data processing | 11,302 |  |  | 58 |  |  | — |  |  | 11,360 |
Occupancy, net | 6,378 |  |  | 18 |  |  | — |  |  | 6,396 |
Interchange expense | 3,476 |  |  | — |  |  | — |  |  | 3,476 |
Furniture, fixtures and equipment | 2,568 |  |  | 2 |  |  | — |  |  | 2,570 |
Advertising | 2,213 |  |  | 7 |  |  | — |  |  | 2,220 |
FDIC deposit insurance | 1,963 |  |  | — |  |  | — |  |  | 1,963 |
Legal and professional | 1,325 |  |  | 336 |  |  | — |  |  | 1,661 |
Loan and collection | 2,148 |  |  | — |  |  | — |  |  | 2,148 |
Communications | 1,507 |  |  | 19 |  |  | — |  |  | 1,526 |
Other | 5,609 |  |  | 595 |  |  | — |  |  | 6,204 |
Total Non-interest Expense | 100,818 |  |  | 1,444 |  |  | (107) |  |  | 102,155 |
Income Before Income Tax | 65,205 |  |  | (4,101) |  |  | (124) |  |  | 60,980 |
Income tax expense | 12,232 |  |  | (1,195) |  |  | (26) |  |  | 11,011 |
Net Income | $ | 52,973 |  |  | $ | (2,906) |  |  | $ | (98) |  |  | $ | 49,969 |
OTHER SEGMENT DISCLOSURES |  |  |  |  |  |  |
Depreciation | 3,721 |  |  | 1 |  |  | — |  |  | 3,722 |
Amortization | 365 |  |  | — |  |  | — |  |  | 365 |
Total assets | 5,486,851 |  |  | 538,943 |  |  | (532,681) |  |  | 5,493,113 |
(1) Includes amounts relating to our parent company and certain insignificant operations.
| Nine Months Ended September 30, 2024
| Independent Bank |  | Other(1) |  | Eliminations |  | Total
| (In thousands)
INTEREST INCOME |  |  |  |  |  |  |
Interest and fees on loans | $ | 170,050 |  |  | $ | — |  |  | $ | 189 |  |  | $ | 170,239 |
Interest on securities | 24,661 |  |  | — |  |  | — |  |  | 24,661 |
Other investments | 4,898 |  |  | 1,320 |  |  | (1,320) |  |  | 4,898 |
Total Interest Income | 199,609 |  |  | 1,320 |  |  | (1,131) |  |  | 199,798 |
INTEREST EXPENSE |  |  |  |  |  |  |
Deposits | 71,468 |  |  | — |  |  | (1,320) |  |  | 70,148 |
Other borrowings and subordinated debt and debentures | 1,856 |  |  | 4,397 |  |  | — |  |  | 6,253 |
Total Interest Expense | 73,324 |  |  | 4,397 |  |  | (1,320) |  |  | 76,401 |
Net Interest Income | 126,285 |  |  | (3,077) |  |  | 189 |  |  | 123,397 |
Provision for credit losses | 2,251 |  |  | — |  |  | — |  |  | 2,251 |
Net Interest Income After Provision for Credit Losses | 124,034 |  |  | (3,077) |  |  | 189 |  |  | 121,146 |
NON-INTEREST INCOME |  |  |  |  |  |  |
Interchange income | 10,698 |  |  | — |  |  | — |  |  | 10,698 |
Service charges on deposit accounts | 8,894 |  |  | — |  |  | — |  |  | 8,894 |
Net gains on mortgage loans | 4,750 |  |  | — |  |  | 124 |  |  | 4,874 |
Mortgage loan servicing, net | 1,686 |  |  | — |  |  | — |  |  | 1,686 |
Other | 10,809 |  |  | 754 |  |  | (474) |  |  | 11,089 |
Total Non-interest Income | 36,837 |  |  | 754 |  |  | (350) |  |  | 37,241 |
NON-INTEREST EXPENSE |  |  |  |  |  |  |
Compensation and employee benefits | 61,795 |  |  | 356 |  |  | (82) |  |  | 62,069 |
Data processing | 9,836 |  |  | 55 |  |  | — |  |  | 9,891 |
Occupancy, net | 5,835 |  | 0 | 18 |  |  | — |  |  | 5,853 |
Interchange expense | 3,373 |  |  | — |  |  | — |  |  | 3,373 |
Furniture, fixtures and equipment | 2,831 |  |  | 3 |  |  | — |  |  | 2,834 |
Advertising | 1,854 |  |  | 6 |  |  | — |  |  | 1,860 |
FDIC deposit insurance | 2,141 |  |  | — |  |  | — |  |  | 2,141 |
Legal and professional | 1,417 |  |  | 300 |  |  | — |  |  | 1,717 |
Loan and collection | 1,868 |  |  | — |  |  | — |  |  | 1,868 |
Communications | 1,617 |  |  | 16 |  |  | — |  |  | 1,633 |
Other | 4,306 |  |  | 564 |  |  | — |  |  | 4,870 |
Total Non-interest Expense | 96,873 |  |  | 1,318 |  |  | (82) |  |  | 98,109 |
Income Before Income Tax | 63,998 |  |  | (3,641) |  |  | (79) |  |  | 60,278 |
Income tax expense | 12,765 |  |  | (800) |  |  | (16) |  |  | 11,949 |
Net Income | $ | 51,233 |  |  | $ | (2,841) |  |  | $ | (63) |  |  | $ | 48,329 |
OTHER SEGMENT DISCLOSURES |  |  |  |  |  |  |
Depreciation | 3,879 |  |  | 2 |  |  | — |  |  | 3,881 |
Amortization | 387 |  |  | — |  |  | — |  |  | 387 |
Total assets | 5,254,269 |  |  | 541,422 |  |  | (536,423) |  |  | 5,259,268 |
(1) Includes amounts relating to our parent company and certain insignificant operations.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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