Independent Bank Corp. announced unaudited consolidated earnings results for fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total interest income of $59,870,000, net interest income of $54,885,000, income before income taxes of $27,723,000, net income of $19,455,000 or $0.74 per basic and diluted share compared to the total interest income of $54,827,000, net interest income of $49,820,000, income before income taxes of $22,179,000, net income of $15,978,000 or $0.66 per diluted share for the same quarter a year ago. Return on average assets was 1.07% compared to 0.99% a year ago. Return on average common equity was 10.03% compared to 9.93% a year ago. Net operating earnings were $19,455,000 or $0.74 per diluted share compared to $16,558,000 or $0.69 per diluted share a year ago. Book value per share was $29.40 compared to $26.69 a year ago. Tangible book value per share was $21.29 compared to $19.18 a year ago. Net interest income for the fourth quarter was $54.9 million, remaining relatively consistent with the prior quarter as the effect of higher earning asset levels and a lower net interest margin basically offset each other.

For the year, the company reported total interest income of $235,545,000, net interest income of $214,928,000, income before income taxes of $92,178,000, net income of $64,960,000 or $2.50 per diluted share compared to the total interest income of $216,459,000, net interest income of $196,042,000, income before income taxes of $83,774,000, net income of $59,845,000 or $2.49 per diluted share for the previous year. Return on average assets was 0.93% compared to 0.95% a year ago. Return on average common equity was 8.79% compared to 9.66% a year ago. Net operating earnings were $71,733,000 or $2.76 per diluted share compared to $59,900,000 or $2.50 per diluted share a year ago.

For the fourth quarter, total negative net charge-offs were $120,000 compared to net charge-offs of $1,665,000 a year ago.