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INDB - Independent Bank Corp.: Higher Average Loan Balance To Drive Earnings
Independent Bank Corp.
The loan balance will likely decline from the end of 2021 due to planned attrition. Nevertheless, the average loan balance will be higher this year due to the acquisition.
The high level of excess cash provides INDB the opportunity to benefit from a rising interest-rate environment.
The December 2022 target price suggests a modest upside from the current market price. Further, INDB is offering a small dividend yield.