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Independent Bank Corp. posts 1Q profit

HANOVER, Mass. (AP) _ Independent Bank Corp. (INDB) on Thursday reported first-quarter profit of $20.7 million.

The bank, based in Hanover, Massachusetts, said it had earnings of 76 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 78 cents per share.

The holding company for Rockland Trust posted revenue of $83.3 million in the period. Its adjusted revenue was $79.1 million.

Independent Bank Corp. shares have declined almost 8 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $64.85, an increase of 36 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INDB at https://www.zacks.com/ap/INDB

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Keywords: Independent Bank Corp., Earnings Report