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  "documentTitle": "Independent Bank Corp | Results Presentation Deck | 27 slides",
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  "presentationDate": "2020-04-01 00:00:00",
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      "text": "Total deposits grew by $81.8 million or 11.6% annualized (excluding brokered deposits).",
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      "text": "Provision for loan losses of $6.7 million ($0.24 per diluted share, after taxes) vs $0.7 million ($0.02 per diluted share, after taxes) in 1Q’19. Included within the first quarter 2020 provision for loan losses is a $4.9 million increase in the qualitative reserve.",
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      "text": "Repurchased 678,929 shares at a weighted average price of $20.30 per share during 1Q’20. Share repurchase activity is on hold at this time.",
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      "text": "Pre-tax, pre-provision income was $12.5 million in the first quarter of 2020 compared to $12.2 million in the first quarter of 2019 ($18.4 million vs $14.4 million excluding the MSR Change for the same respective periods);",
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      "text": "Paid a 20 cent per share cash dividend on common stock on 2/14/2020.",
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      "text": "Net interest income of $30.2 million, a decrease of $50,000, or 0.2% from the year ago quarter.",
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      "text": "Total portfolio loans declined $6.9 million, or 1.0% annualized. In Q1’20 $28.7 million of portfolio mortgage loans were securitized or sold. The Q1’20 portfolio loan growth rate increases to 3.2% annualized when excluding the impact of these transactions.",
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      "text": "Record level mortgage originations of $311 million, also, $262 million in loans sold with $8.8 million in net gains on mortgage loans vs $3.6 million in net gains from the year ago quarter.",
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