Form 8-K

8-K — INDEPENDENT BANK CORP

Accession: 0000776901-26-000097

Filed: 2026-04-16

Period: 2026-04-16

CIK: 0000776901

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — indb-20260416.htm (Primary)

EX-99.1 — EX-99.1 - Q1 2026 EARNINGS PRESS RELEASE (exhibit991-indb03x31x2026e.htm)

EX-99.2 — EX-99.2 - Q1 2026 EARNINGS PRESENTATION (q12026erpresentation-fin.htm)

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8-K — 8-K - Q1 2026 EARNINGS RELEASE

8-K (Primary)

Filename: indb-20260416.htm · Sequence: 1

indb-20260416

4/16/20260000776901false00007769012026-04-162026-04-160000776901dei:MailingAddressMember2026-04-162026-04-16

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report Pursuant to Section 13 or 15 (d) of

The Securities and Exchange Act of 1934

DATE OF REPORT:

April 16, 2026

(Date of Earliest Event Reported)

Massachusetts

(State or Other Jurisdiction of Incorporation)

1-9047 04-2870273

(Commission File Number) (I.R.S. Employer identification No.)

INDEPENDENT BANK CORP.

Office Address: 2036 Washington Street, Hanover, Massachusetts 02339

Mailing Address: 288 Union Street, Rockland, Massachusetts 02370

(Address of principal executive offices, including zip code)

NOT APPLICABLE

(Former Address of Principal Executive Offices)

(781)-878-6100

(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each Class Trading Symbol Name of each exchange on which registered

Common Stock, $.01 par value per share INDB NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17CFR 230.405)) or Rule 12b-2 of the Exchange Act (17CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange

Act. ☐

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On April 16, 2026 Independent Bank Corp. (the "Company") announced by press release its earnings for the quarter ended March 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1.

The information in this Item 2.02 (including Exhibit 99.1) is being furnished pursuant to Item 2.02 and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section.

ITEM 7.01 REGULATION FD DISCLOSURE

The Company is furnishing presentation materials to be discussed during its earnings conference call which are included as Exhibit 99.2 to this report pursuant to Item 7.01.

The information in this Item 7.01 (including Exhibit 99.2) shall not be deemed to be "filed" for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section.

ITEM 9.01

FINANCIAL STATEMENTS AND EXHIBITS

d. The following exhibits are included with this Report:

Exhibit Index

Exhibit # Exhibit Description

99.1

Q1 2026 Earnings Press Release dated April 16, 2026

99.2

Q1 2026 Earnings Presentation

101 The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document

104 Cover page interactive data file (formatted as inline XBRL and contained in Exhibit 101)

SIGNATURE

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned and hereunto duly authorized.

INDEPENDENT BANK CORP.

Date: April 16, 2026 By: /s/Mark J. Ruggiero

MARK J. RUGGIERO

CHIEF FINANCIAL OFFICER

EX-99.1 — EX-99.1 - Q1 2026 EARNINGS PRESS RELEASE

EX-99.1

Filename: exhibit991-indb03x31x2026e.htm · Sequence: 2

Document

Exhibit 99.1

Shareholder Relations NEWS RELEASE

288 Union Street

Rockland, Ma. 02370

INDEPENDENT BANK CORP. REPORTS FIRST QUARTER NET INCOME OF $79.9 MILLION

Rockland, Massachusetts (April 16, 2026) - Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2026 first quarter net income of $79.9 million, or $1.63 per diluted share, as compared to 2025 fourth quarter net income of $75.3 million, or $1.52 per diluted share. Excluding merger-related costs associated with the Company’s third quarter 2025 acquisition of Enterprise Bancorp, Inc. (“Enterprise”) and its subsidiary, Enterprise Bank, and their related tax effects, operating net income was $82.1 million, or $1.68 per diluted share for the first quarter of 2026, compared to operating net income of $84.4 million, or $1.70 per diluted share for the fourth quarter of 2025(1).

CEO STATEMENT

“Our first quarter results represent another step forward in driving improved profitability while remaining disciplined in our strategies during these uncertain times,” said Jeffrey Tengel, the Chief Executive Officer of Independent Bank Corp. and Rockland Trust Company. “We are prioritizing our long-term relationship banking model while prudently investing in our future and returning capital to our shareholders.”

FINANCIAL HIGHLIGHTS

•The Company generated a return on average assets and a return on average common equity of 1.31% and 9.02%, respectively, for the first quarter of 2026, as compared to 1.20% and 8.38%, respectively, for the prior quarter. On an operating basis, the Company generated a return on average assets and a return on average common equity of 1.35% and 9.27%, respectively, for the first quarter of 2026, as compared to 1.34% and 9.38%, respectively, for the prior quarter(1).

•The Company’s net interest margin of 3.90% increased 13 basis points compared to the prior quarter, while the adjusted margin increased 8 basis points to 3.72%(1).

•Deposit balances of $20.1 billion at March 31, 2026 decreased $29.3 million, or 0.1%, compared to the prior quarter.

•Loan balances of $18.4 billion at March 31, 2026 decreased $78.3 million, or 0.4%, compared to the prior quarter.

•The Company repurchased approximately 802,000 shares for $63.3 million during the first quarter of 2026.

•Tangible book value per share of $47.86 at March 31, 2026 grew by $0.31 from the prior quarter(1).

•The Company increased its quarterly dividend by 8.5% in the first quarter of 2026, from $0.59 to $0.64 per share.

BALANCE SHEET

Total assets of $24.8 billion at March 31, 2026 decreased $129.3 million, or 0.5%, compared to the prior quarter, driven primarily by decreased loan and cash balances.

Total loans of $18.4 billion at March 31, 2026 decreased $78.3 million, or 0.4%, compared to the prior quarter:

•The commercial and industrial portfolio grew $39.7 million, or 0.9% (3.5% annualized), despite runoff of $38.7 million attributable to the Company’s strategic exit from the dealer finance business.

•Commercial real estate and construction decreased $89.6 million, or 0.9%, due to elevated payoffs and amortization of balances, including a reduction of $55.9 million in the Company’s office portfolio.

•The total consumer portfolio decreased $28.3 million, or 0.7%, primarily attributable to a decline in the residential real estate portfolio of $31.3 million, or 1.1%, reflecting lower seasonal volume compared to the prior quarter. This decrease was partially offset by a modest increase in the home equity portfolio of $10.1 million, or 0.8% (3.2% annualized).

Total deposits decreased by $29.3 million, or 0.1%, to $20.1 billion at March 31, 2026, as compared to the prior quarter:

•Average deposits decreased $309.9 million, or 1.5%, compared to the prior quarter, driven primarily by seasonality in business operating balances.

•Overall core deposits comprised 83.8% of total deposits at March 31, 2026, as compared to 83.7% at December 31, 2025.

•Total noninterest bearing demand deposits were 28.0% and 27.8% of total deposits at March 31, 2026 and December 31, 2025, respectively.

•The total cost of deposits for the first quarter of 1.36% reflected a decrease of 10 basis points compared to the prior quarter.

Total period end borrowings decreased by $49.6 million, or 6.0%, during the first quarter of 2026, reflecting approximately $100 million in net paydowns on Federal Home Loan Bank borrowings, partially offset by $50 million advanced on a working capital line of credit.

The Company’s total securities portfolio of $3.4 billion increased by $62.4 million, or 1.9% (7.6% annualized), from the prior quarter:

•New purchases of $168.4 million in the available for sale portfolio were partially offset by maturities, calls, and paydowns in the combined available for sale and held to maturity portfolios during the quarter.

•Total securities represented 13.6% and 13.3% of total assets at March 31, 2026 and December 31, 2025, respectively.

Stockholders’ equity at March 31, 2026 decreased $23.7 million, or 0.7%, compared to December 31, 2025, as strong earnings were offset by the impact of share repurchases, dividends, and unrealized losses on available for sale securities recognized in other comprehensive income during the quarter:

•During the first quarter of 2026, the Company executed on its previously announced $150 million stock repurchase plan, buying back approximately 802,000 shares of common stock for $63.3 million at an average price per share of $78.85.

•The Company’s ratio of common equity to assets of 14.29% at March 31, 2026 represented a decrease of 2 basis points from December 31, 2025.

•The Company’s ratio of tangible common equity to tangible assets of 9.86% at March 31, 2026 represented a decrease of 2 basis points from the prior quarter and a decrease of 92 basis points from the year ago period(1).

•The Company’s book value per share increased by $0.51, or 0.7%, to $72.92 at March 31, 2026 as compared to the prior quarter.

•The Company’s tangible book value per share at March 31, 2026 grew by $0.31, or 0.7%, from the prior quarter to $47.86, and grew by 0.1% from the year ago period(1).

NET INTEREST INCOME

Net interest income of $212.5 million for the first quarter of 2026 was flat compared to the prior quarter:

•The net interest margin of 3.90% increased 13 basis points when compared to the prior quarter, benefitting from fixed rate asset repricing, lower deposit costs, and 17 basis points of purchase accounting accretion in the first quarter of 2026 as compared to 11 basis points in the prior quarter. Excluding purchase accounting accretion and other non-core items, the adjusted margin of 3.72%(1) increased 8 basis points.

•Total loan yields increased 3 basis points to 5.77% from 5.74%, driven primarily by fixed rate loan repricing and purchase accounting accretion, partially offset by the full quarter impact of Federal Reserve rate cuts made during the fourth quarter of 2025. Similarly, securities yields increased 12 basis points to 3.08% for the current quarter as compared to the prior quarter.

•The Company’s overall cost of funding decreased 8 basis points to 1.52% for the first quarter of 2026 as compared to 1.60% for the prior quarter, driven by a 10 basis point reduction in total cost of deposits.

NONINTEREST INCOME

Noninterest income of $40.3 million for the first quarter of 2026 represented a decrease of $1.2 million, or 2.9%, as compared to the prior quarter. Significant changes in noninterest income for the first quarter of 2026 compared to the prior quarter included the following:

•Interchange and ATM fees decreased by $363,000, or 6.7%, driven by seasonally lower transaction volumes.

•Overall investment and advisory income increased $372,000, or 2.7%, driven primarily by higher asset based fee revenue and insurance commissions compared to the prior quarter. Total assets under administration remained consistent at $9.2 billion as of March 31, 2026.

•Loan level derivative income decreased by $322,000, or 26.1%, reflecting volatility in customer demand.

•Other noninterest income decreased by $1.1 million, or 13.8%, driven primarily by a decrease in investment income on equity securities.

NONINTEREST EXPENSE

Noninterest expense of $142.9 million for the first quarter of 2026 represented a decrease of $11.5 million, or 7.4%, as compared to the prior quarter. Significant changes in noninterest expense for the first quarter of 2026 compared to the prior quarter included the following:

•The Company incurred merger and acquisition expenses of $3.0 million in the first quarter of 2026, compared to $12.3 million in the fourth quarter of 2025, all of which were related to the Company’s acquisition of Enterprise. The majority of the 2026 first quarter merger expenses related to final severance payments, and vendor and systems contract terminations.

•Salaries and employee benefits decreased by $843,000, or 1.0%, driven primarily by decreased incentive compensation, retirement benefits, and lower base salaries, partially offset by higher payroll taxes and medical plan insurance.

•Occupancy and equipment expenses increased by $1.7 million, or 10.9%, driven primarily by a $1.9 million increase in snow removal costs for the first quarter of 2026.

•FDIC assessment decreased $731,000, or 18.0%, due to quarterly timing differences.

•Other noninterest expense decreased by $2.4 million, or 7.8%, driven primarily by decreases in consultant fees of $790,000, legal fees of $755,000, and net valuation decreases on equity securities of $384,000.

TAX RATE

The Company’s quarterly effective tax rate increased to 23.38% for the first quarter of 2026 from 20.54% for the prior quarter, due to one-time discrete adjustments combined with revised estimates based on full year results in the prior quarter.

ASSET QUALITY

During the first quarter, the Company’s key asset quality activity and metrics were as follows:

•Nonperforming loans increased to $96.6 million at March 31, 2026, as compared to $83.6 million at December 31, 2025, representing 0.52% and 0.45% of total loans, respectively.

•Delinquencies as a percentage of total loans increased 9 basis points from the prior quarter to 0.41% at March 31, 2026.

•Net charge-offs decreased slightly to $4.8 million, as compared to $5.3 million for the prior quarter, representing 0.11% and 0.12%, respectively, of average loans annualized. The largest individual charge-off in the quarter was $4.2 million related to a commercial real estate loan that was partially reserved for in the prior quarter.

•The first quarter provision for credit losses increased to $5.5 million, as compared to $4.8 million for the prior quarter.

•Total criticized and classified commercial loans of $575.5 million, or 4.0% of total commercial loans, increased $102.7 million, or 21.7%, as compared to the prior quarter.

•The allowance for credit losses on total loans increased to $190.6 million at March 31, 2026, compared to $189.9 million at December 31, 2025 and represented 1.03% of total loans at both March 31, 2026 and December 31, 2025.

(1)Represents a non-GAAP measure. See Appendices A through C for reconciliation of the corresponding GAAP measures.

CONFERENCE CALL INFORMATION

Jeffrey Tengel, Chief Executive Officer, and Mark Ruggiero, Chief Financial Officer and Executive Vice President of Consumer Lending, will host a conference call to discuss first quarter earnings at 10:00 a.m. Eastern Time on Friday, April 17, 2026.

Participants may join the webcast by registering prior to the call via this link: https://events.q4inc.com/attendee/279877279. A replay of the webcast will be made available on the Company’s website at https://indb.rocklandtrust.com by selecting First Quarter 2026 Earnings Call. The webcast replay will be available until April 17, 2027.

ABOUT INDEPENDENT BANK CORP.

Independent Bank Corp. (Nasdaq Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. With retail branches in Eastern Massachusetts, Worcester County, and Southern New Hampshire, as well as commercial banking and investment management offices in Massachusetts, New Hampshire, and Rhode Island, Rockland Trust offers a wide range of banking, investment, and insurance services to individuals, families, and businesses. Rockland Trust also offers a full suite of mobile, online, and telephone banking services. Rockland Trust is an FDIC member and an Equal Housing Lender.

This press release 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 terminology as “expect,” “achieve,” “plan,” “believe,” “future,” “positioned,” “continued,” “will,” “would,” “potential,” or similar statements or variations of such terms. Actual results may differ from those contemplated by these forward-looking statements.

Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to:

•adverse economic conditions in the regional and local economies within the New England region and the Company’s market area;

•events impacting the financial services industry, including high profile bank failures, and any resulting decreased confidence in banks among depositors, investors, and other counterparties, as well as competition for deposits and significant disruption, volatility and depressed valuations of equity and other securities of banks in the capital markets;

•the effects to the Company of an increasingly competitive labor market, including the possibility that the Company will have to devote significant resources to attract and retain qualified personnel;

•political and policy uncertainties, changes in U.S. and international trade policies, such as tariffs or other factors, and the potential impact of such factors on the Company and its customers, including the potential for decreases in deposits and loan demand, unanticipated loan delinquencies, loss of collateral and decreased service revenues;

•the instability or volatility in financial markets and unfavorable domestic or global general economic, political or business conditions, including international conflicts and hostilities, such as the ongoing conflict involving Israel, the U.S. and Iran;

•unanticipated loan delinquencies, loss of collateral, decreased service revenues, and other potential negative effects on the Company’s local economies or the Company’s business caused by adverse weather

conditions and natural disasters, changes in climate, public health crises or other external events and any actions taken by governmental authorities in response to any such events;

•adverse changes or volatility in the local real estate market;

•changes in interest rates and any resulting impact on interest earning assets and/or interest bearing liabilities, the level of voluntary prepayments on loans and the receipt of payments on mortgage-backed securities, decreased loan demand or increased difficulty in the ability of borrowers to repay variable rate loans;

•risks related to the Company’s acquisition activities, including disruption to current plans and operations; difficulties in customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated; impairment of goodwill and/or other intangibles; and the Company’s inability to achieve expected revenues, cost savings, synergies, and other benefits at levels or within the timeframes originally anticipated;

•the effect of laws, regulations, new requirements or expectations, or additional regulatory oversight in the highly regulated financial services industry, and the resulting need to invest in technology to meet heightened regulatory expectations, increased costs of compliance or required adjustments to strategy;

•changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System;

•higher than expected tax expense, including as a result of failure to comply with general tax laws and changes in tax laws;

•increased competition in the Company’s market areas, including competition that could impact deposit gathering, retention of deposits and the cost of deposits, increased competition due to the demand for innovative products and service offerings, and competition from non-depository institutions which may be subject to fewer regulatory constraints and lower cost structures;

•a deterioration in the conditions of the securities markets;

•a deterioration of the credit rating for U.S. long-term sovereign debt or uncertainties surrounding the federal budget;

•inability to adapt to changes in information technology, including changes to industry accepted delivery models driven by a migration to the internet as a means of service delivery, including any inability to effectively implement new technology-driven products, such as artificial intelligence (“AI”);

•electronic or other fraudulent activity within the financial services industry, especially in the commercial banking sector;

•adverse changes in consumer spending and savings habits;

•the effect of laws and regulations regarding the financial services industry, including the need to invest in technology to meet heightened regulatory expectations or the introduction of new requirements or expectations resulting in increased costs of compliance or required adjustments to strategy;

•changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) generally applicable to the Company’s business and the associated costs of such changes;

•the Company’s potential judgments, claims, damages, penalties, fines and reputational damage resulting from pending or future litigation and regulatory and government actions;

•changes in accounting policies, practices and standards, as may be adopted by the regulatory agencies as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board, and other accounting standard setters;

•operational risks related to the Company and its customers’ reliance on information technology; cyber threats, attacks, intrusions, and fraud; and outages or other issues impacting the Company or its third party service providers which could lead to interruptions or disruptions of the Company’s operating systems, including systems that are customer facing, and adversely impact the Company’s business;

•risks related to the development and use of AI by the Company, its third-party vendors, clients and counterparties; and

•any unexpected material adverse changes in the Company’s operations or earnings.

The Company cautions readers not to place undue reliance on any forward-looking statements as the Company’s business and its forward-looking statements involve substantial known and unknown risks and uncertainties described above and in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports

on Form 10-Q (“Risk Factors”). Except as required by law, the Company disclaims any intent or obligation to update publicly any such forward-looking statements, whether in response to new information, future events or otherwise. Any public statements or disclosures by the Company following this release which modify or impact any of the forward-looking statements contained in this release will be deemed to modify or supersede such statements in this release. In addition to the information set forth in this press release, you should carefully consider the Risk Factors.

This press release and the appendices attached to it contain 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 average assets, operating return on average common equity, operating return on average tangible common equity, adjusted net interest margin (“adjusted margin”), tangible book value per share and the tangible common equity ratio.

Operating net income, operating EPS, operating return on average assets, and operating return on average common equity exclude items that management believes are unrelated to the Company’s core banking business such as merger and acquisition expenses, and other items, if applicable. Management uses operating net income and related ratios and operating EPS to measure the strength of the Company’s core banking business and to identify trends that may to some extent be obscured by such items. Management reviews its adjusted margin to determine any items that may impact the net interest margin that may be one-time in nature or not reflective of its core operating environment, such as significant purchase accounting adjustments or other adjustments such as nonaccrual interest reversals/recoveries and prepayment penalties. Management believes that adjusting for these items to arrive at an adjusted margin provides additional insight into the operating environment and how management decisions impact the net interest margin.

Management also supplements its evaluation of financial performance with analysis of tangible book value per share (which is computed by dividing stockholders’ equity less goodwill and identifiable intangible assets, or “tangible common equity,” by common shares outstanding), the tangible common equity ratio (which is computed by dividing tangible common equity by “tangible assets,” defined as total assets less goodwill and other intangibles), and return on average tangible common equity (which is computed by dividing net income by average tangible common equity). The Company has included information on tangible book value per share, the tangible common equity ratio and return on average tangible common equity because management believes that investors may find it useful to have access to the same analytical tools used by management. As a result of merger and acquisition activity, the Company has recognized goodwill and other intangible assets in conjunction with business combination accounting principles. Excluding the impact of goodwill and other intangibles in measuring asset and capital values for the ratios provided, along with other bank standard capital ratios, provides a framework to compare the capital adequacy of the Company to other companies in the financial services industry.

These non-GAAP measures should not be viewed as a substitute for operating results and other financial measures determined in accordance with GAAP. An item which management excludes when computing these non-GAAP measures can be of substantial importance to the Company’s results for any particular quarter or year. The Company’s non-GAAP performance measures, including operating net income, operating EPS, operating return on average assets, operating return on average common equity, adjusted margin, tangible book value per share and the tangible common equity ratio, are not necessarily comparable to non-GAAP performance measures which may be presented by other companies.

Contacts:

Jeffrey Tengel

President and Chief Executive Officer

(781) 982-6144

Mark J. Ruggiero

Chief Financial Officer and

Executive Vice President of Consumer Lending

(781) 982-6281

Investor Relations:

Gerry Cronin

Director of Investor Relations

(774) 363-9872

Gerard.Cronin@rocklandtrust.com

Category: Earnings Releases

INDEPENDENT BANK CORP. FINANCIAL SUMMARY

CONSOLIDATED BALANCE SHEETS

(Unaudited, dollars in thousands) % Change % Change

March 31

2026 December 31

2025 March 31

2025 Mar 2026 vs. Mar 2026 vs.

Dec 2025 Mar 2025

Assets

Cash and due from banks $ 223,291 $ 229,770 $ 214,616 (2.82) % 4.04 %

Interest-earning deposits with banks 505,687 542,132 502,228 (6.72) % 0.69 %

Securities

Trading 5,525 4,720 4,816 17.06 % 14.72 %

Equities 21,518 21,581 21,250 (0.29) % 1.26 %

Available for sale 2,088,365 2,004,247 1,283,767 4.20 % 62.67 %

Held to maturity 1,256,566 1,279,027 1,409,959 (1.76) % (10.88) %

Total securities 3,371,974 3,309,575 2,719,792 1.89 % 23.98 %

Loans held for sale 16,758 35,909 8,524 (53.33) % 96.60 %

Loans

Commercial and industrial 4,651,453 4,611,789 3,315,081 0.86 % 40.31 %

Commercial real estate 8,181,340 8,275,408 6,735,974 (1.14) % 21.46 %

Commercial construction 1,403,613 1,399,193 796,162 0.32 % 76.30 %

Total commercial 14,236,406 14,286,390 10,847,217 (0.35) % 31.24 %

Residential real estate 2,842,144 2,873,443 2,465,731 (1.09) % 15.27 %

Home equity 1,307,746 1,297,662 1,143,966 0.78 % 14.32 %

Total consumer real estate 4,149,890 4,171,105 3,609,697 (0.51) % 14.97 %

Other consumer 39,182 46,282 35,055 (15.34) % 11.77 %

Total loans 18,425,478 18,503,777 14,491,969 (0.42) % 27.14 %

Less: allowance for credit losses (190,560) (189,877) (144,092) 0.36 % 32.25 %

Net loans 18,234,918 18,313,900 14,347,877 (0.43) % 27.09 %

Federal Home Loan Bank stock 17,752 21,835 25,804 (18.70) % (31.20) %

Bank premises and equipment, net 217,695 218,190 190,007 (0.23) % 14.57 %

Goodwill 1,090,610 1,090,610 985,072 — % 10.71 %

Other intangible assets 126,687 133,576 10,941 (5.16) % 1,057.91 %

Cash surrender value of life insurance policies 380,423 378,576 306,077 0.49 % 24.29 %

Other assets

597,785 638,823 577,271 (6.42) % 3.55 %

Total assets $ 24,783,580 $ 24,912,896 $ 19,888,209 (0.52) % 24.61 %

Liabilities and Stockholders’ Equity

Deposits

Noninterest-bearing demand deposits $ 5,633,079 $ 5,600,955 $ 4,409,878 0.57 % 27.74 %

Savings and interest checking 6,310,870 6,482,970 5,279,549 (2.65) % 19.53 %

Money market 4,898,267 4,774,645 3,277,078 2.59 % 49.47 %

Time certificates of deposit 3,255,294 3,268,220 2,709,512 (0.40) % 20.14 %

Total deposits 20,097,510 20,126,790 15,676,017 (0.15) % 28.21 %

Borrowings

Federal Home Loan Bank and other borrowings 316,734 416,549 500,506 (23.96) % (36.72) %

Line of credit, net 99,969 49,953 — 100.13 % 100.00%

Junior subordinated debentures, net 62,863 62,862 62,861 — % — %

Subordinated debentures, net 296,690 296,483 296,507 0.07 % 0.06 %

Total borrowings 776,256 825,847 859,874 (6.00) % (9.72) %

Total deposits and borrowings 20,873,766 20,952,637 16,535,891 (0.38) % 26.23 %

Other liabilities 367,773 394,531 318,926 (6.78) % 15.32 %

Total liabilities 21,241,539 21,347,168 16,854,817 (0.49) % 26.03 %

Stockholders’ equity

Common stock 483 490 424 (1.43) % 13.92 %

Additional paid in capital 2,272,910 2,335,879 1,911,162 (2.70) % 18.93 %

Retained earnings 1,317,946 1,269,113 1,192,008 3.85 % 10.57 %

Accumulated other comprehensive loss, net of tax (49,298) (39,754) (70,202) 24.01 % (29.78) %

Total stockholders' equity 3,542,041 3,565,728 3,033,392 (0.66) % 16.77 %

Total liabilities and stockholders’ equity $ 24,783,580 $ 24,912,896 $ 19,888,209 (0.52) % 24.61 %

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited, dollars in thousands, except per share data)

Three Months Ended

% Change % Change

March 31

2026 December 31

2025 March 31

2025 Mar 2026 vs. Mar 2026 vs.

Dec 2025 Mar 2025

Interest income

Interest on federal funds sold and short-term investments $ 3,657 $ 6,690 $ 1,438 (45.34) % 154.31 %

Interest and dividends on securities 25,374 24,924 15,297 1.81 % 65.88 %

Interest and fees on loans 260,982 265,582 195,093 (1.73) % 33.77 %

Interest on loans held for sale 252 339 92 (25.66) % 173.91 %

Total interest income 290,265 297,535 211,920 (2.44) % 36.97 %

Interest expense

Interest on deposits 66,935 74,378 59,436 (10.01) % 12.62 %

Interest on borrowings 10,871 10,671 6,979 1.87 % 55.77 %

Total interest expense 77,806 85,049 66,415 (8.52) % 17.15 %

Net interest income 212,459 212,486 145,505 (0.01) % 46.01 %

Provision for credit losses 5,500 4,750 15,000 15.79 % (63.33) %

Net interest income after provision for credit losses 206,959 207,736 130,505 (0.37) % 58.58 %

Noninterest income

Deposit account fees 9,249 9,100 7,053 1.64 % 31.14 %

Interchange and ATM fees 5,018 5,381 4,622 (6.75) % 8.57 %

Investment management and advisory 14,165 13,793 11,220 2.70 % 26.25 %

Mortgage banking income 1,270 1,274 741 (0.31) % 71.39 %

Increase in cash surrender value of life insurance policies 2,712 2,702 2,065 0.37 % 31.33 %

Gain on life insurance benefits 346 315 — 9.84 % 100.00%

Loan level derivative income 910 1,232 1,042 (26.14) % (12.67) %

Other noninterest income 6,592 7,648 5,796 (13.81) % 13.73 %

Total noninterest income 40,262 41,445 32,539 (2.85) % 23.73 %

Noninterest expenses

Salaries and employee benefits 80,737 81,580 61,931 (1.03) % 30.37 %

Occupancy and equipment expenses 17,306 15,604 13,859 10.91 % 24.87 %

Data processing and facilities management 3,259 2,967 2,642 9.84 % 23.35 %

FDIC assessment 3,328 4,059 2,988 (18.01) % 11.38 %

Amortization of intangible assets 6,890 7,054 1,344 (2.32) % 412.65 %

Merger and acquisition expense 3,024 12,348 1,155 (75.51) % 161.82 %

Other noninterest expenses 28,374 30,758 21,959 (7.75) % 29.21 %

Total noninterest expenses 142,918 154,370 105,878 (7.42) % 34.98 %

Income before income taxes 104,303 94,811 57,166 10.01 % 82.46 %

Provision for income taxes 24,384 19,476 12,742 25.20 % 91.37 %

Net Income $ 79,919 $ 75,335 $ 44,424 6.08 % 79.90 %

Weighted average common shares (basic) 48,970,060 49,452,717 42,550,274

Common share equivalents 29,685 23,623 22,353

Weighted average common shares (diluted) 48,999,745 49,476,340 42,572,627

Basic earnings per share $ 1.63 $ 1.52 $ 1.04 7.24 % 56.73 %

Diluted earnings per share $ 1.63 $ 1.52 $ 1.04 7.24 % 56.73 %

Reconciliation of Net Income (GAAP) to Operating Net Income (Non-GAAP):

Net income $ 79,919 $ 75,335 $ 44,424

Noninterest expense components

Add - merger and acquisition expenses 3,024 12,348 1,155

Noncore increases to income before taxes 3,024 12,348 1,155

Net taxes associated with noncore items (1) (830) (3,326) (325)

Noncore increases to net income 2,194 9,022 830

Operating net income (Non-GAAP) $ 82,113 $ 84,357 $ 45,254 (2.66) % 81.45 %

Diluted earnings per share, on an operating basis (Non-GAAP) $ 1.68 $ 1.70 $ 1.06 (1.18) % 58.49 %

(1) The net taxes associated with noncore items is determined by assessing whether each noncore item is included or excluded from net taxable income and applying the Company’s combined marginal tax rate to only those items included in net taxable income.

Performance ratios

Net interest margin (FTE) 3.90 % 3.77 % 3.42 %

Return on average assets (calculated by dividing annualized net income by average assets) (GAAP) 1.31 % 1.20 % 0.93 %

Return on average assets on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average assets) 1.35 % 1.34 % 0.94 %

Return on average common equity (calculated by dividing annualized net income by average common equity) (GAAP) 9.02 % 8.38 % 5.94 %

Return on average common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average common equity) 9.27 % 9.38 % 6.05 %

Return on average tangible common equity (Non-GAAP) (calculated by dividing annualized net income by average tangible common equity) 13.67 % 12.77 % 8.85 %

Return on average tangible common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average tangible common equity) 14.05 % 14.30 % 9.01 %

Noninterest income as a % of total revenue (GAAP) (calculated by dividing total noninterest income by net interest income plus total noninterest income) 15.93 % 16.32 % 18.28 %

Noninterest income as a % of total revenue on an operating basis (Non-GAAP) (calculated by dividing total noninterest income on an operating basis by net interest income plus total noninterest income) 15.93 % 16.32 % 18.28 %

Efficiency ratio (GAAP) (calculated by dividing total noninterest expense by total revenue) 56.55 % 60.79 % 59.47 %

Efficiency ratio on an operating basis (Non-GAAP) (calculated by dividing total noninterest expense on an operating basis by total revenue) 55.36 % 55.93 % 58.82 %

ASSET QUALITY

(Unaudited, dollars in thousands) Nonperforming Assets At

March 31

2026 December 31

2025 March 31

2025

Nonperforming loans

Commercial & industrial loans $ 8,453 $ 9,160 $ 9,839

Commercial real estate loans 64,851 50,515 65,840

Commercial construction loans 698 3,693 —

Residential real estate loans 15,593 15,043 10,966

Home equity 7,011 5,102 2,840

Other consumer 37 44 8

Total nonperforming loans 96,643 83,557 89,493

Other real estate owned 2,100 2,100 —

Total nonperforming assets $ 98,743 $ 85,657 $ 89,493

Nonperforming loans/gross loans 0.52 % 0.45 % 0.62 %

Nonperforming assets/total assets 0.40 % 0.34 % 0.45 %

Allowance for credit losses/nonperforming loans 197.18 % 227.24 % 161.01 %

Allowance for credit losses/total loans 1.03 % 1.03 % 0.99 %

Delinquent loans/total loans 0.41 % 0.32 % 0.47 %

Nonperforming Assets Reconciliation for the Three Months Ended

March 31

2026 December 31

2025 March 31

2025

Nonperforming assets beginning balance $ 85,657 $ 88,697 $ 101,529

New to nonperforming 24,714 29,374 41,777

Loans charged-off (5,776) (5,768) (41,400)

Loans paid-off (5,272) (20,098) (10,932)

Loans restored to performing status (608) (4,350) (1,356)

Other 28 (2,198) (125)

Nonperforming assets ending balance $ 98,743 $ 85,657 $ 89,493

Net Charge-Offs (Recoveries)

Three Months Ended

March 31

2026 December 31

2025 March 31

2025

Net charge-offs (recoveries)

Commercial and industrial loans $ 311 $ 4,555 $ 152

Commercial real estate loans 4,034 28 39,996

Home equity (12) (15) 78

Other consumer 484 781 666

Total net charge-offs $ 4,817 $ 5,349 $ 40,892

Net charge-offs to average loans (annualized) 0.11 % 0.12 % 1.14 %

BALANCE SHEET AND CAPITAL RATIOS

March 31

2026 December 31

2025 March 31

2025

Gross loans/total deposits 91.68 % 91.94 % 92.45 %

Common equity tier 1 capital ratio (1) 12.87 % 12.86 % 14.52 %

Tier 1 leverage capital ratio (1) 10.23 % 10.15 % 11.43 %

Common equity to assets ratio GAAP 14.29 % 14.31 % 15.25 %

Tangible common equity to tangible assets ratio (2) 9.86 % 9.88 % 10.78 %

Book value per share GAAP $ 72.92 $ 72.41 $ 71.19

Tangible book value per share (2) $ 47.86 $ 47.55 $ 47.81

(1) Estimated number for March 31, 2026.

(2) See Appendix A for detailed reconciliation from GAAP to Non-GAAP ratios.

INDEPENDENT BANK CORP. SUPPLEMENTAL FINANCIAL INFORMATION

(Unaudited, dollars in thousands) Three Months Ended

March 31, 2026 December 31, 2025 March 31, 2025

Interest Interest Interest

Average Earned/ Yield/ Average Earned/ Yield/ Average Earned/ Yield/

Balance Paid (1) Rate Balance Paid (1) Rate Balance Paid (1) Rate

Interest-earning assets

Interest-earning deposits with banks, federal funds sold, and short term investments $ 415,532 $ 3,657 3.57 % $ 673,878 $ 6,690 3.94 % $ 141,410 $ 1,438 4.12 %

Securities

Securities - trading 5,108 — — % 4,644 — — % 4,513 — — %

Securities - taxable investments 3,325,253 25,260 3.08 % 3,323,714 24,790 2.96 % 2,747,039 15,296 2.26 %

Securities - nontaxable investments (1) 11,634 144 5.02 % 14,047 169 4.77 % 195 1 2.08 %

Total securities $ 3,341,995 $ 25,404 3.08 % $ 3,342,405 $ 24,959 2.96 % $ 2,751,747 $ 15,297 2.25 %

Loans held for sale 19,495 252 5.24 % 24,680 339 5.45 % 6,396 92 5.83 %

Loans

Commercial and industrial (1) 4,605,582 70,426 6.20 % 4,556,277 70,467 6.14 % 3,250,960 50,895 6.35 %

Commercial real estate (1) 8,240,241 112,466 5.54 % 8,263,339 115,746 5.56 % 6,804,605 86,086 5.13 %

Commercial construction (1) 1,404,278 23,926 6.91 % 1,397,668 24,618 6.99 % 785,312 13,167 6.80 %

Total commercial 14,250,101 206,818 5.89 % 14,217,284 210,831 5.88 % 10,840,877 150,147 5.62 %

Residential real estate 2,856,572 35,503 5.04 % 2,895,216 34,847 4.78 % 2,464,464 27,716 4.56 %

Home equity 1,300,202 19,429 6.06 % 1,288,744 20,498 6.31 % 1,140,190 17,774 6.32 %

Total consumer real estate 4,156,774 54,932 5.36 % 4,183,960 55,345 5.25 % 3,604,654 45,490 5.12 %

Other consumer 43,789 664 6.15 % 41,897 741 7.02 % 38,618 593 6.23 %

Total loans $ 18,450,664 $ 262,414 5.77 % $ 18,443,141 $ 266,917 5.74 % $ 14,484,149 $ 196,230 5.49 %

Total interest-earning assets $ 22,227,686 $ 291,727 5.32 % $ 22,484,104 $ 298,905 5.27 % $ 17,383,702 $ 213,057 4.97 %

Cash and due from banks 228,015 228,939 197,536

Federal Home Loan Bank stock 20,474 21,835 27,646

Other assets 2,226,216 2,230,165 1,852,073

Total assets $ 24,702,391 $ 24,965,043 $ 19,460,957

Interest-bearing liabilities

Deposits

Savings and interest checking accounts (4) $ 6,333,509 $ 15,883 1.02 % $ 6,355,726 $ 18,078 1.13 % $ 5,222,353 $ 16,162 1.26 %

Money market (4) 4,862,134 24,672 2.06 % 4,829,717 26,989 2.22 % 3,178,879 17,710 2.26 %

Time deposits 3,269,232 26,380 3.27 % 3,336,280 29,311 3.49 % 2,723,975 25,564 3.81 %

Total interest-bearing deposits $ 14,464,875 $ 66,935 1.88 % $ 14,521,723 $ 74,378 2.03 % $ 11,125,207 $ 59,436 2.17 %

Borrowings

Federal Home Loan Bank and other borrowings 380,062 3,596 3.84 % 416,368 3,973 3.79 % 547,713 5,566 4.12 %

Line of Credit 54,404 755 5.63 % 7,559 116 6.09 % — — — %

Junior subordinated debentures 62,863 874 5.64 % 62,862 936 5.91 % 62,860 974 6.28 %

Subordinated debentures 296,573 5,646 7.72 % 296,372 5,646 7.56 % 23,070 439 7.72 %

Total borrowings $ 793,902 $ 10,871 5.55 % $ 783,161 $ 10,671 5.41 % $ 633,643 $ 6,979 4.47 %

Total interest-bearing liabilities $ 15,258,777 $ 77,806 2.07 % $ 15,304,884 $ 85,049 2.20 % $ 11,758,850 $ 66,415 2.29 %

Noninterest-bearing demand deposits 5,498,339 5,751,348 4,345,631

Other liabilities 353,886 340,775 323,728

Total liabilities $ 21,111,002 $ 21,397,007 $ 16,428,209

Stockholders’ equity 3,591,389 3,568,036 3,032,748

Total liabilities and stockholders’ equity $ 24,702,391 $ 24,965,043 $ 19,460,957

Net interest income $ 213,921 $ 213,856 $ 146,642

Interest rate spread (2) 3.25 % 3.07 % 2.68 %

Net interest margin (3) 3.90 % 3.77 % 3.42 %

Supplemental Information

Total deposits, including demand deposits $ 19,963,214 $ 66,935 $ 20,273,071 $ 74,378 $ 15,470,838 $ 59,436

Cost of total deposits 1.36 % 1.46 % 1.56 %

Total funding liabilities, including demand deposits $ 20,757,116 $ 77,806 $ 21,056,232 $ 85,049 $ 16,104,481 $ 66,415

Cost of total funding liabilities 1.52 % 1.60 % 1.67 %

(1) The total amount of adjustment to present interest income and yield on a fully tax-equivalent basis was $1.5 million, $1.4 million, and $1.1 million for the three months ended March 31, 2026, December 31, 2025, and March 31, 2025, respectively, determined by applying the Company’s marginal tax rates in effect during each respective quarter.

(2) Interest rate spread represents the difference between weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.

(3) Net interest margin represents annualized net interest income as a percentage of average interest-earning assets.

(4) Interest paid amounts within the savings and interest checking and money market categories for the three months ended December 31, 2025 vary from amounts previously reported in the Company’s fourth quarter 2025 earnings release. These reported amounts reflect a reclassification of approximately $3.0 million in interest paid from the money market category to the savings and interest checking category. The corresponding yields presented above have also been revised to reflect this reclassification.

APPENDIX A: NON-GAAP Reconciliation of Balance Sheet Metrics

(Unaudited, dollars in thousands, except per share data)

The following table summarizes the calculation of the Company’s tangible common equity to tangible assets ratio and tangible book value per share, at the dates indicated:

March 31

2026 December 31

2025 March 31

2025

Tangible common equity (Dollars in thousands, except per share data)

Stockholders’ equity (GAAP) $ 3,542,041 $ 3,565,728 $ 3,033,392 (a)

Less: Goodwill and other intangibles 1,217,297 1,224,186 996,013

Tangible common equity (Non-GAAP) $ 2,324,744 $ 2,341,542 $ 2,037,379 (b)

Tangible assets

Assets (GAAP) $ 24,783,580 $ 24,912,896 $ 19,888,209 (c)

Less: Goodwill and other intangibles 1,217,297 1,224,186 996,013

Tangible assets (Non-GAAP) $ 23,566,283 $ 23,688,710 $ 18,892,196 (d)

Common Shares 48,572,237 49,243,813 42,610,271 (e)

Common equity to assets ratio (GAAP) 14.29 % 14.31 % 15.25 % (a/c)

Tangible common equity to tangible assets ratio (Non-GAAP) 9.86 % 9.88 % 10.78 % (b/d)

Book value per share (GAAP) $ 72.92 $ 72.41 $ 71.19 (a/e)

Tangible book value per share (Non-GAAP) $ 47.86 $ 47.55 $ 47.81 (b/e)

APPENDIX B: Non-GAAP Reconciliation of Earnings Metrics

The following table summarizes the impact of noncore items on the Company’s calculation of noninterest income and noninterest expense, the impact of noncore items on noninterest income as a percentage of total revenue and the efficiency ratio, as well as the average tangible common equity used to calculate return on average tangible common equity and operating return on tangible common equity for the periods indicated, and the average assets used to calculate return on average assets and operating return on average assets:

(Unaudited, dollars in thousands) Three Months Ended

March 31

2026 December 31

2025 March 31

2025

Net interest income (GAAP) $ 212,459 $ 212,486 $ 145,505

Noninterest income (GAAP) $ 40,262 $ 41,445 $ 32,539

Total revenue (GAAP) $ 252,721 $ 253,931 $ 178,044

Noninterest expense (GAAP) $ 142,918 $ 154,370 $ 105,878

Less:

Merger and acquisition expense 3,024 12,348 1,155

Noninterest expense on an operating basis (Non-GAAP) $ 139,894 $ 142,022 $ 104,723

Average assets $ 24,702,391 $ 24,965,043 $ 19,460,957

Average common equity (GAAP) $ 3,591,389 $ 3,568,036 $ 3,032,748

Less: Average goodwill and other intangibles 1,221,201 1,227,889 996,762

Average tangible common equity (Non-GAAP) $ 2,370,188 $ 2,340,147 $ 2,035,986

Reconciliation of Net Income (GAAP) to Operating Net Income (Non-GAAP)

Net income (GAAP) $ 79,919 $ 75,335 $ 44,424

Noninterest expense components

Add - merger and acquisition expenses 3,024 12,348 1,155

Noncore increases to income before taxes 3,024 12,348 1,155

Net taxes associated with noncore items (1) (830) (3,326) (325)

Noncore increases to net income 2,194 9,022 830

Operating net income (Non-GAAP) $ 82,113 $ 84,357 $ 45,254

Ratios

Return on average assets (GAAP) (calculated by dividing annualized net income by average assets) 1.31 % 1.20 % 0.93 %

Return on average assets on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average assets) 1.35 % 1.34 % 0.94 %

Return on average common equity (GAAP) (calculated by dividing annualized net income by average common equity) 9.02 % 8.38 % 5.94 %

Return on average common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average common equity) 9.27 % 9.38 % 6.05 %

Return on average tangible common equity (Non-GAAP) (calculated by dividing annualized net income by average tangible common equity) 13.67 % 12.77 % 8.85 %

Return on average tangible common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average tangible common equity) 14.05 % 14.30 % 9.01 %

Noninterest income as a % of total revenue (GAAP) (calculated by dividing total noninterest income by total revenue) 15.93 % 16.32 % 18.28 %

Noninterest income as a % of total revenue on an operating basis (Non-GAAP) (calculated by dividing total noninterest income on an operating basis by total revenue) 15.93 % 16.32 % 18.28 %

Efficiency ratio (GAAP) (calculated by dividing total noninterest expense by total revenue) 56.55 % 60.79 % 59.47 %

Efficiency ratio on an operating basis (Non-GAAP) (calculated by dividing total noninterest expense on an operating basis by total revenue) 55.36 % 55.93 % 58.82 %

APPENDIX C: Net Interest Margin Analysis & Non-GAAP Reconciliation of Adjusted Margin

(Unaudited, dollars in thousands) Three Months Ended

March 31, 2026 December 31, 2025

Volume Interest Margin Impact Volume Interest Margin Impact

Reported total interest earning assets $ 22,227,686 $ 213,921 3.90 % $ 22,484,104 $ 213,856 3.77 %

Acquisition fair value marks:

Loan accretion (9,186) (0.17) % (6,275) (0.11) %

Nonaccrual interest, net (54) — % (1,117) (0.02) %

Other adjustments (1,626) (667) (0.01) % (1,842) (407) — %

Adjusted margin (Non-GAAP) $ 22,226,060 $ 204,014 3.72 % $ 22,482,262 $ 206,057 3.64 %

EX-99.2 — EX-99.2 - Q1 2026 EARNINGS PRESENTATION

EX-99.2

Filename: q12026erpresentation-fin.htm · Sequence: 3

q12026erpresentation-fin

Exhibit 99.2 Q1 2026 Earnings Presentation April 16, 2026

2 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 brand awareness and reputation Attractive Market • Top performing MA-based bank with scale and density • Supported by strong economic growth and vitality in key markets served • Depth of market offers opportunities for continued growth • The Enterprise acquisition added density to existing markets and expands the Rockland franchise into Northern MA and Southern NH Strong, Resilient Franchise; Well Positioned for Growth High Performing • Consistent, strong profitability • Focused on maintaining good margins • Fee income contribution from scalable wealth franchise • Efficient cost structure focused on operating leverage • History of organic capital generation • Strong balance sheet • Prudent interest rate and liquidity risk management • Significant capital buffer • Diversified, low-cost deposit base • Experienced commercial lender with conservative credit culture • Proven operator and acquiror Company Overview

3 ($ in millions, except per share) Q1’26 Q1’26 Operating(1) Q4’25 Q4’25 Operating(1) Q1’25 Q1’25 Operating(1) Net Income $ 79.9 $ 82.1 $ 75.3 $ 84.4 $ 44.4 $ 45.3 Diluted EPS $ 1.63 $ 1.68 $ 1.52 $ 1.70 $ 1.04 $ 1.06 ROAA 1.31% 1.35% 1.20% 1.34% 0.93% 0.94% ROACE 9.02% 9.27% 8.38% 9.38% 5.94% 6.05% ROATCE(1) 13.67% 14.05% 12.77% 14.30% 8.85% 9.01% Net Interest Margin 3.90% 3.72% 3.77% 3.64% 3.42% 3.37% Q1 2026 Financial Highlights Key Metrics Highlights • Operating EPS of $1.68 for the quarter(1) • Adjusted net interest margin expansion of 8 bps to 3.72%(1); reported margin up 13 bps to 3.90% • Loans decreased $78.3 million, or 0.4%; with core commercial and industrial growth offset by runoff in commercial and residential real estate • Deposits decreased $29.3 million, or 0.1%; driven primarily by seasonality in business operating balances • Stable provision for loan loss of $5.5 million • Capital management: ◦ Approximately 802,000 shares repurchased for $63.3 million ◦ Quarterly dividend of $0.64 reflects an 8.5% increase over prior quarter ◦ Tangible book value per share growth of $0.31(1), or 0.7% (1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures.

4 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 1.53% 1.53% 1.70% 1.78% 1.85% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 —% 2.00% Operating ROAA 0.94% 1.09% 1.23% 1.34% 1.35% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 —% 2.00% Operating ROATCE 9.01% 10.35% 13.22% 14.30% 14.05% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 —% 5.00% 10.00% 15.00% Operating EPS $1.06 $1.25 $1.55 $1.70 $1.68 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 $— $2.00 (1) (1) (1) (1)

5 Deposit Balances (Dollars in millions) March 30 2026 December 31 2025 $ Increase (Decrease) % Increase (Decrease) Deposit Product Type Noninterest-bearing demand deposits $ 5,633 $ 5,601 $ 32 0.6% Savings and interest checking 6,311 6,483 (172) (2.7)% Money market 4,898 4,775 123 2.6% Time certificates of deposit 3,255 3,268 (13) (0.4)% Total deposits $ 20,097 $ 20,127 $ (30) (0.1)% $ in b ill io ns Average Balances and Cost of Deposits $15.6 $20.2 $20.3 $20.0 1.54% 1.58% 1.46% 1.36% Deposits Cost of deposits Q2 2025 Q3 2025 Q4 2025 Q1 2026 $0.0 $5.0 $10.0 $15.0 $20.0 0.00% 1.00% 2.00% 3.00%

6 Linked Quarter Change in Commercial Loans $14,286 $78 $(33) $(39) $(56) $14,236 Q4 2025 C&I ex. Dealer Finance CRE ex. Office Dealer Finance Office Q1 2026 Loan Balances (Dollars in millions) March 31 2026 December 31 2025 $ Increase (Decrease) % Increase (Decrease) Loan Category Commercial and industrial $ 4,651 $ 4,612 $ 39 0.85% Commercial real estate 8,181 8,275 (94) (1.14)% Commercial construction 1,404 1,399 5 0.36% Total commercial 14,236 14,286 (50) (0.35)% Residential real estate 2,842 2,873 (31) (1.08)% Home equity 1,308 1,298 10 0.77% Total consumer real estate 4,150 4,171 (21) (0.50)% Total other consumer 40 47 (7) (14.89)% Total loans $ 18,426 $ 18,504 $(78) (0.42)% $78

7 Q1 2026 New Commercial Loan Commitments ($ in millions) Institutional CRE Middle Market C&I Regional Banking CRE C&I $— $100 $200 $300 Q1 2026 Commercial Loan Commitments/Pipeline % Loan Commitments 23% 32% 45% Institutional CRE Middle Market C&I Regional Banking Approved Commercial Loan Pipeline ($ in millions) $224 $327 $443 $278 $313 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 $— $200 $400

8 Nonperforming Loans ($ in millions) $56.2 $86.6 $83.6 $96.6 0.39% 0.47% 0.45% 0.52% NPLs ($Mil) NPL as % of Total Loans Q2 2025 Q3 2025 Q4 2025 Q1 2026 0.25% 0.50% 0.75% $0 $60 $120 Commercial Criticized & Classified Loans ($ in millions) $460.2 $518.9 $472.9 $575.5 4.25% 3.65% 3.31% 4.04% Criticized & Classified Loans Criticized & Classified Loans as a % of Total Commercial Loans Q2 2025 Q3 2025 Q4 2025 Q1 2026 $— $150.0 $300.0 $450.0 $600.0 —% 1.50% 3.00% 4.50% 6.00% Asset Quality Allowance for Credit Loss & Delinquency Trends 1.00% 1.03% 1.03% 1.03% 0.20% 0.49% 0.32% 0.41% Allowance for Credit Losses/Total Loans Delinquent Loans/Total Loans Q2 2025 Q3 2025 Q4 2025 Q1 2026 0.00% 0.50% 1.00%

9 95% CRE & Construction Portfolio $9.6 billion Multi-Family - 29.9% Residential - Related - 16.2% Office - 11.0% Mixed-Use Office - 1.8% Industrial/ Warehouse - 10.1% Lodging - 8.2% Retail - 16.7% Healthcare - 1.4% Other - 4.7% C&I Portfolio $4.7 billion Retail Trade - 16.3% Real Estate/Rental and Leasing - 9.5% Construction - 10.0% Health Care and Social Assistance - 9.2% Wholesale Trade - 9.2% Manufacturing - 9.4% Accommodation and Food Services - 8.4% Educational Services - 4.1% All Other - 23.9% Consumer Portfolio $4.2 billion Residential real estate - 67.9% Home equity - 31.2% Other consumer - 0.9% $7.3 $9.7 $9.7 $9.6 274% 295% 290% 283% CRE CRE/Capital * Q2 2025 Q3 2025** Q4 2025 Q1 2026 $0.0 $4.0 $8.0 $12.0 250% 300% 350% ($Bil) *Rockland Trust Bank only. Ratio for Q1 2026 is an estimated number **Reflects capital contribution of $75 million in Q3 2025 related to parent company subordinated debt proceeds Loan Portfolios

10 Top 20 Borrowers All Others Total Portfolio ($ in millions) Total Avg Loan ($ in millions) Total Avg Loan ($ in millions) Total Avg Loan Class A $299.4 $25.0 Class A $158.0 $4.9 Class A $457.4 $10.4 Class B/C 150.4 21.5 Class B/C 321.6 1.5 Class B/C 472.0 2.1 Medical 26.3 26.3 Medical 89.3 2.3 Medical 115.6 2.9 $476.1 $23.8 $568.9 $2.0 $1,045.0 $3.5 Criticized $67.1 Criticized $57.4 Criticized $124.5 Classified (perf) — Classified (perf) 8.7 Classified (perf) 8.7 Nonperforming 39.9 Nonperforming 13.9 Nonperforming 53.8 • Top 20 loans are actively managed • Majority is Rockland Trust Company originated, conservative underwriting • Primarily Massachusetts based Maturity Schedule ($ in millions) Matured 2026 Q2 2026 Q3 2026 Q4 2027 2028 2029+ Total Pass Rating $0.2 $33.2 $12.7 $29.3 $157.2 $81.9 $543.4 $857.9 Criticized — — 19.9 54.2 33.6 3.1 13.7 124.5 Classified 13.7 — — 17.7 — — 31.2 62.6 Total $13.9 $33.2 $32.6 $101.2 $190.8 $85.0 $588.3 $1,045.0 % of Total 1.3% 3.2% 3.1% 9.7% 18.3% 8.1% 56.3% 100% CRE & Construction Portfolio $9.6 billion Office ($1.045B) - 10.9% Other CRE & Construction - 89.1% Focal Point | CRE Office (inclusive of construction)

11 Trend in Asset Yields vs. Funding Costs 2.25% 2.32% 2.84% 2.96% 3.08% 5.44% 5.49% 5.60% 5.58% 5.56% 1.67% 1.73% 1.72% 1.60% 1.52% Security yields Adjusted loan yields(1) Funding costs Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 —% 2.00% 4.00% 6.00% 8.00% Net Interest Margin 3.42% 3.37% 3.62% 3.77% 3.90% 3.37% 3.37% 3.54% 3.64% 3.72% Reported NIM Adjusted NIM(1) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 3.00% 3.20% 3.40% 3.60% 3.80% 4.00% Net Interest Margin Dynamics 7/1/25 - Enterprise Acquisition (1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures. Total Loan Portfolio Rate Characteristics 35% 26% 39% Fixed Rate Floating Rate Variable Rate -32bp -39bp-0bp -4bp Avg. Fed Funds Impact -26bp

12 Noninterest Income Noninterest Expense ($ in thousands) ($ in thousands) Q1 2026 Q4 2025 Q1 2026 Q4 2025 Deposit account fees $ 9,249 $ 9,100 Salaries and employee benefits $ 80,737 $ 81,580 Interchange and ATM fees 5,018 5,381 Occupancy and equipment expenses 17,306 15,604 Investment management and advisory 14,165 13,793 Data processing and facilities management 3,259 2,967 Mortgage banking income 1,270 1,274 FDIC assessment 3,328 4,059 Increase in cash surrender value of life insurance policies 2,712 2,702 Amortization of intangible assets 6,890 7,054 Gain on life insurance benefits 346 315 Merger and acquisition expense 3,024 12,348 Loan level derivative income 910 1,232 Other noninterest expenses 28,374 30,758 Other noninterest income 6,592 7,648 Total noninterest expenses $ 142,918 $ 154,370 Total noninterest income $ 40,262 $ 41,445 Reconciliation of operating noninterest expense (Non-GAAP): Less: merger and acquisition expense 3,024 12,348 Operating noninterest expense (Non-GAAP) $ 139,894 $ 142,022 Noninterest Income/Expense

13 $ in m ill io ns Assets Under Administration $7,361 $9,220 $9,217 $9,172 Q2 2025 Q3 2025* Q4 2025 Q1 2026 $— $2,500 $5,000 $7,500 $10,000 ($ in thousands) Q1 2026 Q4 2025 % Change Assets under administration $ 9,172,082 $ 9,217,333 (0.5)% Asset based revenue 12,451 12,071 3.1% Other revenue: Retail commission revenue 831 1,386 Insurance commission revenue 485 127 Other advisory revenue 398 209 Total reported revenue $ 14,165 $ 13,793 2.7% Focal Point | Investment Management and Advisory *Reflects approximately $1.5 billion in acquired balances from Enterprise

14 Available for Sale (AFS) Held to Maturity (HTM) Portfolio Composition at March 31, 2026 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 436 422 (14) 101 97 (4) Agency mortgage-backed securities 945 920 (25) 686 649 (37) Agency collateralized mortgage obligations 268 260 (8) 360 314 (46) Municipal securities 229 230 1 — — — Other 42 37 (5) 109 105 (4) Total securities $ 2,148 $ 2,088 $ (61) $ 1,256 $ 1,166 $ (91) Duration of portfolio 3.8 Years 3.4 Years ($ in m ill io ns ) Projected Cash Flows $586 $508 $800 2026 (Q2-Q4) 2027 2028 $0 $250 $500 $750 $1,000 Securities Portfolio 2026 Cash Flow ($ in millions) $ Amount Yield Rockland Trust $ 549 1.75% Former Enterprise 37 5.07% Total $ 586 1.96%

15 Metric Guidance Direction 2026 Expectations Loan Growth Updated • Commercial and Industrial: Mid-single digit percentage increase • Commercial real estate and Construction: Flat to low-single digit percentage increase • Consumer: flat to low-single digit percentage increase Deposit Growth No change • Core deposits: low to mid-single digit percentage increase • Time deposits: flat to low-single digit percentage decrease Net Interest Margin Updated • Consistent margin expansion expected throughout 2026, with a fourth quarter target range of 3.90%-3.95%. This range assumes 0.10% from purchase loan accretion • Assumes 5, 7, and 10 year treasury rates stay consistent with current levels • Neutral to any anticipated Federal Reserve action in 2026 Asset Quality No change • Stable asset quality metrics Non-interest Income No change • Low-single digit percentage increase expected vs. 2025 2nd half annualized results Non-interest Expense No change • Core operating expenses in the $550 - $555 million range • $4 - $5 million of one-time, non-capitalizable costs related to core system upgrade Tax Rate No change • 23.50% - 24.00% 2026 Guidance

16 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 terminology as “expect,” “achieve,” “plan,” “believe,” “outlook,” “projected,” “future,” “positioned,” “continued,” “will,” “would,” “potential,” “anticipated,” “guidance,” “target” or similar statements or variations of such terms. Actual results may differ from those contemplated by these forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to: • adverse economic conditions in the regional and local economies within the New England region and the Company’s market area; • events impacting the financial services industry, including high profile bank failures, and any resulting decreased confidence in banks among depositors, investors, and other counterparties, as well as competition for deposits and significant disruption, volatility and depressed valuations of equity and other securities of banks in the capital markets; • the effects to the Company of an increasingly competitive labor market, including the possibility that the Company will have to devote significant resources to attract and retain qualified personnel; • political and policy uncertainties, changes in U.S. and international trade policies, such as tariffs or other factors, and the potential impact of such factors on the Company and its customers, including the potential for decreases in deposits and loan demand, unanticipated loan delinquencies, loss of collateral and decreased service revenues; • the instability or volatility in financial markets and unfavorable domestic or global general economic, political or business conditions, including international conflicts and hostilities, such as the ongoing conflict involving Israel, the U.S. and Iran; • unanticipated loan delinquencies, loss of collateral, decreased service revenues, and other potential negative effects on the Company’s local economies or the Company’s business caused by adverse weather conditions and natural disasters, changes in climate, public health crises or other external events and any actions taken by governmental authorities in response to any such events; • adverse changes or volatility in the local real estate market; • changes in interest rates and any resulting impact on interest earning assets and/or interest bearing liabilities, the level of voluntary prepayments on loans and the receipt of payments on mortgage-backed securities, decreased loan demand or increased difficulty in the ability of borrowers to repay variable rate loans; • risks related to the Company’s acquisition activities, including disruption to current plans and operations; difficulties in customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated; impairment of goodwill and/or other intangibles; and the Company’s inability to achieve expected revenues, cost savings, synergies, and other benefits at levels or within the timeframes originally anticipated; • the effect of laws, regulations, new requirements or expectations, or additional regulatory oversight in the highly regulated financial services industry, and the resulting need to invest in technology to meet heightened regulatory expectations, increased costs of compliance or required adjustments to strategy; • changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; • higher than expected tax expense, including as a result of failure to comply with general tax laws and changes in tax laws; • increased competition in the Company’s market areas, including competition that could impact deposit gathering, retention of deposits and the cost of deposits, increased competition due to the demand for innovative products and service offerings, and competition from non-depository institutions which may be subject to fewer regulatory constraints and lower cost structures; • a deterioration in the conditions of the securities markets; • a deterioration of the credit rating for U.S. long-term sovereign debt or uncertainties surrounding the federal budget; • inability to adapt to changes in information technology, including changes to industry accepted delivery models driven by a migration to the internet as a means of service delivery, including any inability to effectively implement new technology-driven products, such as artificial intelligence (“AI”); • electronic or other fraudulent activity within the financial services industry, especially in the commercial banking sector; • adverse changes in consumer spending and savings habits; • the effect of laws and regulations regarding the financial services industry, including the need to invest in technology to meet heightened regulatory expectations or the introduction of new requirements or expectations resulting in increased costs of compliance or required adjustments to strategy; • changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) generally applicable to the Company’s business and the associated costs of such changes; • the Company’s potential judgments, claims, damages, penalties, fines and reputational damage resulting from pending or future litigation and regulatory and government actions; • changes in accounting policies, practices and standards, as may be adopted by the regulatory agencies as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board, and other accounting standard setters; • operational risks related to the Company and its customers’ reliance on information technology; cyber threats, attacks, intrusions, and fraud; and outages or other issues impacting the Company or its third party service providers which could lead to interruptions or disruptions of the Company’s operating systems, including systems that are customer facing, and adversely impact the Company’s business; • risks related to the development and use of AI by the Company, its third-party vendors, clients and counterparties; and • any unexpected material adverse changes in the Company’s operations or earnings. The Company cautions readers not to place undue reliance on any forward-looking statements as the Company’s business and its forward-looking statements involve substantial known and unknown risks and uncertainties described above and in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q (“Risk Factors”). Except as required by law, the Company disclaims any intent or obligation to update publicly any such forward-looking statements, whether in response to new information, future events or otherwise. Any public statements or disclosures by the Company following this release which modify or impact any of the forward-looking statements contained in this release will be deemed to modify or supersede such statements in this release. In addition to the information set forth in this earnings presentation, you should carefully consider the Risk Factors. Forward Looking Statements

17 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 average assets, operating pre-provision net revenue return on average assets, operating return on average common equity, operating return on average tangible common equity, operating noninterest expense, adjusted net interest margin (“adjusted NIM” or “adjusted margin”) and the associated adjusted loan yield, tangible book value per share, tangible common equity ratio and return on average tangible common equity. Management reviews its adjusted margin to determine any items that may impact the net interest margin that may be one-time in nature or not reflective of its core operating environment, such as low-yielding loans originated through government programs in response to the pandemic, or significant purchase accounting adjustments, or other adjustments such as nonaccrual interest reversals/recoveries and prepayment penalties. Management believes that adjusting for these items to arrive at an adjusted margin provides additional insight into the operating environment and how management decisions impact the net interest margin. Management also supplements its evaluation of financial performance with analysis of tangible book value per share (which is computed by dividing stockholders’ equity less goodwill and identifiable intangible assets, or “tangible common equity,” by common shares outstanding), the tangible common equity ratio (which is computed by dividing tangible common equity by “tangible assets,” defined as total assets less goodwill and other intangibles), and return on average tangible common equity (which is computed by dividing net income by average tangible common equity). The Company has included information on tangible book value per share, the tangible common equity ratio and return on average tangible common equity because management believes that investors may find it useful to have access to the same analytical tools used by management. As a result of merger and acquisition activity, the Company has recognized goodwill and other intangible assets in conjunction with business combination accounting principles. Excluding the impact of goodwill and other intangibles in measuring asset and capital values for the ratios provided, along with other bank standard capital ratios, provides a framework to compare the capital adequacy of the Company to other companies in the financial services industry. These non-GAAP measures should not be viewed as a substitute for operating results and other financial measures determined in accordance with GAAP. An item which management excludes when computing these non-GAAP measures can be of substantial importance to the Company’s results for any particular quarter or year. The Company’s non-GAAP performance measures, including operating net income, operating EPS, operating return on average assets, operating pre-provision net revenue return on average assets, operating return on average common equity, operating return on average tangible common equity, operating noninterest expense, adjusted margin, tangible book value per share and the tangible common equity ratio, are not necessarily comparable to non-GAAP performance measures which may be presented by other companies. Non-GAAP Financial Measures

18 Appendix

19 Non-GAAP Reconciliation of Capital Metrics (Unaudited, dollars in thousands, except per share data) March 31 2026 December 31 2025 March 31 2025 Tangible common equity Stockholders’ equity (GAAP) $ 3,542,041 $ 3,565,728 $ 3,033,392 (a) Less: Goodwill and other intangibles 1,217,297 1,224,186 996,013 Tangible common equity (Non-GAAP) $ 2,324,744 $ 2,341,542 $ 2,037,379 (b) Common Shares 48,572,237 49,243,813 42,610,271 (c) Book value per share (GAAP) $ 72.92 $ 72.41 $ 71.19 (a/c) Tangible book value per share (Non-GAAP) $ 47.86 $ 47.55 $ 47.81 (b/c)

20 Non-GAAP Reconciliation of Earnings Metrics (Unaudited, dollars in thousands) Three Months Ended March 31 2026 December 31 2025 September 30 2025 June 30 2025 March 31 2025 Net interest income (GAAP) $ 212,459 $ 212,486 $ 203,344 $ 147,496 $ 145,505 Noninterest income (GAAP) $ 40,262 $ 41,445 $ 40,398 $ 34,308 $ 32,539 Total revenue (GAAP) $ 252,721 $ 253,931 $ 243,742 $ 181,804 $ 178,044 Noninterest expense (GAAP) $ 142,918 $ 154,370 $ 160,836 $ 108,798 $ 105,878 Less: Merger and acquisition expense 3,024 12,348 23,893 2,239 1,155 Noninterest expense on an operating basis (Non-GAAP) $ 139,894 $ 142,022 $ 136,943 $ 106,559 $ 104,723 Average assets $ 24,702,391 $ 24,965,043 $ 24,930,449 $ 19,743,746 $ 19,460,957 Average common equity (GAAP) $ 3,591,389 $ 3,568,036 $ 3,557,840 $ 3,067,050 $ 3,032,748 Less: Average goodwill and other intangibles 1,221,201 1,227,889 1,236,109 995,380 996,762 Average tangible common equity (Non-GAAP) $ 2,370,188 $ 2,340,147 $ 2,321,731 $ 2,071,670 $ 2,035,986 Reconciliation of Net Income (GAAP) to Operating Net Income (Non-GAAP) Net income (GAAP) $ 79,919 $ 75,335 $ 34,262 $ 51,101 $ 44,424 Provision for non-PCD acquired loans — — 34,519 — — Noninterest expense components Add - merger and acquisition expenses 3,024 12,348 23,893 2,239 1,155 Noncore increases to income before taxes 3,024 12,348 58,412 2,239 1,155 Net taxes associated with noncore items (1) (830) (3,326) (15,320) (544) (325) Add - adjustment for tax effect of previously incurred merger and acquisition expenses — — — 657 — Total tax impact (830) (3,326) (15,320) 113 (325) Noncore increases to net income 2,194 9,022 43,092 2,352 830 Operating net income (Non-GAAP) $ 82,113 $ 84,357 $ 77,354 $ 53,453 $ 45,254 Weighted average common shares (diluted) 48,999,745 49,476,340 49,957,007 42,641,131 42,572,627 Diluted earnings per share (GAAP) $ 1.63 $ 1.52 $ 0.69 $ 1.20 $ 1.04 Diluted earnings per share, on an operating basis (Non-GAAP) $ 1.68 $ 1.70 $ 1.55 $ 1.25 $ 1.06 (1) The net taxes associated with noncore items is determined by assessing whether each noncore item is included or excluded from net taxable income and applying the Company’s combined marginal tax rate to only those items included in net taxable income. Ratios Return on average assets (GAAP) (calculated by dividing annualized net income by average assets) 1.31% 1.20% 0.55% 1.04% 0.93% Return on average assets on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average assets) 1.35% 1.34% 1.23% 1.09% 0.94% Return on average common equity (GAAP) (calculated by dividing annualized net income by average common equity) 9.02% 8.38% 3.82% 6.68% 5.94% Return on average common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average common equity) 9.27% 9.38% 8.63% 6.99% 6.05% Return on average tangible common equity (Non-GAAP) (calculated by dividing annualized net income by average tangible common equity) 13.67% 12.77% 5.85% 9.89% 8.85% Return on average tangible common equity on an operating basis (Non-GAAP) (calculated by dividing annualized operating net income by average tangible common equity) 14.05% 14.30% 13.22% 10.35% 9.01%

21 (Unaudited, dollars in thousands) Three Months Ended March 31 2026 December 31 2025 September 30 2025 June 30 2025 March 31 2025 Pre-provision net revenue (2) $ 109,803 $ 99,561 $ 82,906 $ 73,006 $ 72,166 Pre-provision net revenue on an operating basis Pre-provision net revenue $ 109,803 $ 99,561 $ 82,906 $ 73,006 $ 72,166 Add: merger and acquisition expenses $ 3,024 $ 12,348 $ 23,893 $ 2,239 $ 1,155 Pre-provision net revenue on an operating basis (Non-GAAP) $ 112,827 $ 111,909 $ 106,799 $ 75,245 $ 73,321 Pre-provision net revenue return on average assets on an operating basis Pre-provision net revenue on an operating basis (Non-GAAP) $ 112,827 $ 111,909 $ 106,799 $ 75,245 $ 73,321 Average Assets $ 24,702,391 $ 24,965,043 $ 24,930,449 $ 19,743,746 $ 19,460,957 Pre-provision net revenue return on average assets on an operating basis (Non-GAAP) 1.85% 1.78% 1.70% 1.53% 1.53% Non-GAAP Reconciliation of Pre-Provision Net Revenue (2) Pre-provision net revenue is calculated as net interest income (GAAP) plus total non-interest income (GAAP) less total non-interest expense (GAAP).

22 Three Months Ended March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 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 total interest earning assets $ 22,227,686 $ 213,921 3.90% $ 22,484,104 $ 213,856 3.77% $ 22,430,232 $ 204,731 3.62% $ 17,672,302 $ 148,672 3.37% $ 17,383,702 $ 146,642 3.42% Acquisition fair value marks: Loan accretion (9,186) (0.17)% (6,275) (0.11)% (4,729) (0.08)% (235) —% (410) (0.01)% Nonaccrual interest, net (54) —% (1,117) (0.02)% (84) —% (5) —% (1,689) (0.04)% Other adjustments (1,626) (667) (0.01)% (1,842) (407) —% (2,088) 129 —% (2,291) 135 —% (2,670) (222) —% Adjusted margin (Non- GAAP) $ 22,226,060 $ 204,014 3.72% $ 22,482,262 $ 206,057 3.64% $ 22,428,144 $ 200,047 3.54% $ 17,670,011 $ 148,567 3.37% $ 17,381,032 $ 144,321 3.37% Non-GAAP Reconciliation of Adjusted Margin

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Address Line 1 such as Attn, Building Name, Street Name

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Name of the City or Town

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Code for the postal or zip code

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Name of the state or province.

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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Indicate if registrant meets the emerging growth company criteria.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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No definition available.

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Two-character EDGAR code representing the state or country of incorporation.

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No definition available.

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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No definition available.

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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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-Publisher SEC

-Name Exchange Act

-Number 240

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-Subsection b-2

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Local phone number for entity.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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- Definition

Title of a 12(b) registered security.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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- Definition

Name of the Exchange on which a security is registered.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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- Definition

Trading symbol of an instrument as listed on an exchange.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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