Call Start: 17:30 January 1, 0000 6:25 PM ET
Independent Bank Corp. (NASDAQ:INDB)
Q1 2025 Earnings Conference Call
April 17, 2025 05:30 PM ET
Company Participants
Jeffrey Tengel - CEO
Mark Ruggiero - CFO & Head of Consumer Lending
Conference Call Participants
Mark Fitzgibbon - Piper Sandler
Steve Moss - Raymond James
Laurie Hunsicker - Seaport Research
Chris O'Connell - KBW
Operator
Good day, and welcome to the Independent Bank Corp First Quarter 2025 Earnings Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions]
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 also note that this event is being recorded.
I would now like to turn the conference over to you Jeff Tengel, Chief Executive Officer. Please go ahead.
Jeffrey Tengel
Thank you, and good evening, and thanks for joining us today. I'm accompanied this evening by CFO and Head of Consumer Lending, Mark Ruggiero. On a core operating basis, results for the first quarter were reflective of solid pre-provision net revenue growth offset by higher credit costs. PPNR growth was driven by net interest margin improvement, solid fee revenue results and well controlled expenses.
Operating leverage was positive on both a
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