Full Transcript: Independent Bank Q2 2026 Earnings Call

On Friday, Independent Bank (NASDAQ: INDB ) discussed second-quarter financial results during its earnings call.

The full transcript is provided below.

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Access the full call at Summary Independent Bank reported solid deposit growth and strong C&I loan growth, despite a smaller average balance sheet and lower loan accretion income.

The company announced a new $200 million share repurchase plan and completed $75 million in buybacks during the quarter.

The adjusted net interest margin improved by 4 basis points, driven by pricing discipline across loan and deposit portfolios.

The wealth management business continues to be a strong fee income driver, with positive results in traditional asset management and business advisory services.

Management remains vigilant on expense levels and is preparing for a core operating platform transition set for October.

The commercial loan pipeline increased significantly, positioning the company for positive loan growth in the second half of the year.

CEO Jeff Tangle announced he is cancer-free, a positive personal update that bolstered the overall sentiment of the call.

Full Transcript OPERATOR Joining me on today's call is Jeff Tangle, CEO, and Mark Ruggiero, CFO.

After today's prepared remarks, we will host a question and answer session.

If you would like to ask a question, please press Star one to raise your hand.

To withdraw your question, press Star one again.

Before proceeding, please note that during this call we will be making forward-looking statements.

Actual results may differ materially from these statements due to a number of factors including those described in our earnings release and other SEC filings.

We undertake no obligation to publicly update any such statements.

In addition, some of our discussion today may include references to certain non-GAAP financial measures.

Information about these non-GAAP measures, including reconciliation to GAAP measures, may be found in our earnings release and other SEC filings.

These SEC filings can be accessed via the Investor Relations section of our website.

Finally, please note that this event is being recorded.

I would now like to turn the conference over to Jeff Tangle, CEO.

Please go ahead.

Jeff Tangle, CEO Thank you.

Good morning and thanks for joining us today.

I'm accompanied this morning by CFO and Head of Consumer Lending Mark Ruggiero.

Before we discuss our quarterly results, I wanted to share an update on my health.

We released an 8K in February disclosing that I had been diagnosed with non-Hodgkin's Lymphoma.

I'm happy to report that I have finished my treatments and learned last Friday that I am cancer-free and in remission.

So on that good note, I'd like to turn to our quarterly results.

While activity was slow early in the second quarter, momentum accelerated as the quarter progressed resulting in solid deposit growth, strong CNI loan growth, continued improvement in the adjusted nimble, aggressive buyback activity, and excellent results in our wealth management business.

These positives were offset by a smaller average balance sheet and lower loan accretion income.

Our deposit franchise continued to differentiate itself, producing over $300 million of non-time deposits representing 7% annualized growth while maintaining a stable cost of deposits of 136.

These results were achieved in an environment of heightened competition and expectations that the Fed will keep rates higher for longer.

On the lending front, we experienced robust growth in the CNI and home equity portfolios offset by heavy loan payoffs within the CREE Book.