...Ratings Affirmed, Outlook Revised: On Sept. 22, 2014, Fitch Ratings affirmed the long- and short-term issuer default ratings (IDRs) of Independent Bank Corp. (INDB) and its banking subsidiary, Rockland Trust Company (Rockland) at `BBB' and `F2', respectively. The Rating Outlook was revised to Stable from Negative. The ratings affirmation and Rating Outlook revision reflect the company's stable asset quality and operating performance and Fitch's view that INDB will remain a consistent performer while continuing to build capital and improve its liquidity profile. Stable Asset Quality: INDB's ratings are supported by its long history of stable credit quality. Nonperforming assets (NPAs) continue to improve and remain lower than Fitch's community bank peer averages. Given the steadiness of INDB's local economy and the bank's historically stable asset quality, Fitch does not anticipate a meaningful increase in NPAs in the near term. Consistent Earnings: Fitch views INDB's long track record of...
