US based bank has registered positive trends in its organic customer growth, increasing deposit, loan and fee income growth, said the bank.
Independent Bank and Rockland Trust Company president and chief executive officer Christopher Oddleifson said starting the year with a terrific quarter provides momentum for the rest of 2012.
"While the current interest rate environment remains challenging, we’re running on all cylinders right now to counter its impact – with customer growth driving strong business volumes and profitability, Oddleifson said.
For the latest quarter period ended on 31 December 2012, its total assets were $5bn, up $15.5m from the prior quarter period.
The company registered an 8% growth in total loans to $3.9bn during the latest quarter versus the previous quarter on an annualized basis.
The banks said that its deposits grew by 7.1%, on an annualized basis, to $3.9bn during the first quarter of 2012, while core deposits increased by $74.1m to $3.3bn during the quarter.
