Independent Bank Corp (Massachusetts)

In a high-confidence Stage 2 advancing regime, the recent momentum breakout signals continuation, but current price is extended and overbought above rising EMAs. We defer entry and will look to buy on pullbacks into the breakout zone near the 9/20 EMAs, which now act as support.

• ↑Q1 GAAP net income $79.9M; diluted EPS $1.63
• ↑Returned $94M to shareholders, including $63M buybacks
• ↓Non-performing assets climbed to 0.52% of loans