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  "documentTitle": "Independent Bank Corp | Results Presentation Deck | 30 slides",
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  "presentationDate": "2024-01-01 00:00:00",
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      "text": "4Q'23 Earnings: Net income of $13.7 million, or $0.65 per diluted share. Decline in net income from prior quarter driven by unfavorable fair value adjustment in mortgage loan servicing. Strong profitability, prudent balance sheet management, and AOCI recapture results in further growth in tangible book value per share. Solid Loan Growth and Strong Asset Quality: Total loans increased 5.2% annualized while maintaining conservative approach to new loan production. New loan production continues to be largely focused on new commercial clients that bring deposits to the bank. Asset quality remained exceptional with NPAs/Total Assets at 0.11% and NCO of $0.2 million in the quarter. Total watch credits of $35.1 million. Positive Trends in Key Metrics: Deposit base remains stable with short-term brokered deposits added to fund new loan production. Continued rotation into higher yielding assets contributed to net interest margin increasing to 3.26%. Disciplined expense control results in decline in non-interest expense from 3Q23. Continued high level of profitability with core ROAA of 1.26% (excluding impact of fair value adjustment in MSRs). Healthy Capital & Liquidity Positions: Total Capital Ratio increased 13 bps to 13.71%. Tangible book value per share increased 8.7% from end of prior quarter. Balance sheet liquidity remains strong with loan-to-deposit ratio of 82%.",
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      "text": "4Q23 Overview",
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