Exhibit 99.1

Independent Bank Corp. Reports Second Quarter Net Income of $14.7 Million

Growth in Revenues, Loans, and Core Deposits Drive Strong Results

ROCKLAND, Mass.--(BUSINESS WIRE)--July 17, 2014--Independent Bank Corp. (NASDAQ: INDB), parent of Rockland Trust Company, today announced 2014 second quarter net income of $14.7 million, or $0.61 per diluted share, increases of 10.2% and 8.9%, respectively, as compared to $13.4 million, or $0.56 per diluted share, in the prior quarter.

The first two quarters of 2014 both contained items which the Company considers non-core, such as gains on life insurance benefits, impairment on acquired facilities, and loss on termination of derivatives. When excluding such items, net operating earnings for the second quarter were $15.1 million, or $0.63 per diluted share, versus the prior quarter’s net operating earnings of $12.1 million, or $0.51 per diluted share, representing increases of 24.4% and 23.5%, respectively.

“Rockland Trust has steadily grown loans and deposits through constant attention to banking fundamentals,” said Christopher Oddleifson, President and Chief Executive Officer of Independent Bank Corp. and Rockland Trust Company. “My colleagues, who forge strong customer relationships through exemplary service, are the foundation of our consistency. We remain focused on deepening customer relationships and capitalizing on opportunities in historic markets and in the areas into which we have expanded.”

BALANCE SHEET

Total assets of $6.3 billion at June 30, 2014 increased by $122.4 million, or 2.0%, from the prior quarter and by $495.7 million, or 8.5%, as compared to the year ago period, inclusive of the acquisition of Mayflower Bancorp, Inc. (“Mayflower”) in November 2013.

Total loans of $4.9 billion at June 30, 2014 increased by $78.2 million, or 6.5%, on an annualized basis, during the second quarter, and by $355.4 million, or 7.9%, when compared to the year ago period. Each major loan category experienced growth in the second quarter. The commercial loan portfolio once again led the way, increasing by $62.0 million, or 7.3%, on an annualized basis from the first quarter of 2014, as origination volumes and loan pipelines remain robust. The commercial and industrial component was especially strong, rising by nearly 15.0% on an annualized basis during the second quarter, as compared to the linked quarter. Modest growth also occurred in the residential real estate and home equity portfolios.

Total deposits of $5.3 billion at June 30, 2014 increased by $183.9 million, or 14.4%, on an annualized basis, during the second quarter, and by $621.7 million, or 13.3%, when compared to the year ago period. Strong growth in each core deposit category continued. Core deposits rose by $206.3 million, or 18.9%, on an annualized basis, from the prior quarter, and as of June 30, 2014, represented 86.6% of total deposits. As a result, the total cost of deposits remained consistent with the prior quarter’s low level of 0.22%, and decreased slightly from 0.23% in the year ago period.

The securities portfolio decreased slightly from the prior quarter by $9.8 million to $714.0 million at June 30, 2014 and represented 11.2% of total assets at June 30, 2014.

Stockholders’ equity at June 30, 2014 rose to $616.5 million, an increase of 2.3% from the prior quarter. As compared to the year ago period, stockholders’ equity has increased by $72.9 million, or 13.4%. The strong growth in capital led to an increase in the Company’s tangible book value per share, which increased by $0.59, or 3.3% during the second quarter to $18.20. The Company’s tangible common ratio for the quarter of 7.05% also reflected a strong increase from the prior quarter.

NET INTEREST INCOME

Net interest income increased to $49.1 million for the second quarter of 2014 as compared to $47.6 million in the linked quarter, reflective of higher earning asset levels. During the second quarter, the Company’s net interest margin remained relatively consistent with the prior quarter, dropping only one basis point to 3.48% as it benefited from stable asset yields and continued low funding costs.

NONINTEREST INCOME

The Company recorded noninterest income of $16.9 million during the second quarter of 2014, which represents a $659,000, or 3.8%, decrease from the linked quarter. Significant changes in noninterest income included the following:

• Interchange and ATM fees rose by $347,000, or 11.7%, due to the ongoing addition of core checking customers, as well as increased seasonal debit card usage.
• Investment management income increased by $533,000, or 11.6%, primarily driven by seasonal tax preparation fees as well as continued growth in assets under administration, which were $2.4 billion at June 30, 2014, a 3.5% increase from the linked quarter.
• Mortgage banking income increased by $390,000, or 80.1%, primarily due to the increase in volume during the quarter.
• The Company recorded gains on life insurance benefits in the amount of $337,000 and $1.6 million for the first and second quarter of 2014, respectively.
• Loan level derivative income decreased by $422,000, or 56.6%, due to the mix of commercial loan closings during the quarter.
• Other noninterest income decreased by $209,000, or 11.0%, mainly due to gains on sale of fixed assets of $256,000 recognized in the prior quarter.

NONINTEREST EXPENSE

The Company recorded noninterest expense of $43.0 million during the second quarter of 2014 which represents a $1.1 million, or 2.6%, increase from the prior quarter. Significant changes in noninterest expense included the following:

• Salaries and employee benefits decreased $237,000, or 1.0%, during the second quarter due to a decrease in payroll taxes, partially offset by incentive compensation increases.
• Occupancy and equipment expense decreased $845,000, or 13.8%, due to decreases in snow removal costs and impairments recorded on acquired facilities in the first quarter of 2014.
• During the second quarter, the Company used excess liquidity to repay $75.0 million of Federal Home Loan Bank borrowings and terminated associated derivative positions which resulted in the recognition of a loss on termination of $1.1 million.
• Other noninterest expenses increased by $1.1 million, or 11.0%, mainly due to increases in advertising of $425,000, other losses and charge-offs of $288,000, consultant fees of $251,000, and mortgage operations expense of $164,000.

The Company generated a return on average assets and a return on average common equity of 0.94% and 9.65%, respectively, in the second quarter, as compared to 0.88% and 9.02% in the first quarter of 2014. On an operating basis, the return on average assets and the return on average common equity for the three months ended June 30, 2014 were 0.96% and 9.87%, respectively, as compared to 0.80% and 8.17%, respectively, for the first quarter of 2014.

ASSET QUALITY

All asset quality metrics improved notably during the second quarter of 2014, due to the Company’s prudent resolution of nonperforming loans and the impact in the first quarter of a single commercial real estate loan that was partially charged-off. For the second quarter, total net charge-offs were $1.3 million, or 0.11%, of average loans on an annualized basis, a decrease of $2.8 million when compared to the prior quarter. The provision for loan losses was $2.3 million for the second quarter, as compared to $4.5 million for the quarter ended March 31, 2014. Nonperforming loans also decreased significantly during the quarter by $8.8 million to $27.4 million, or 0.56% of total loans, at June 30, 2014, from $36.2 million, or 0.75% of total loans, at March 31, 2014. In addition nonperforming assets decreased to $39.7 million at the end of the second quarter of 2014, as compared to $46.5 million in the linked quarter. Delinquency as a percentage of loans declined as well to 0.70% at June 30, 2014, as compared to 0.85% at March 31, 2014.

The allowance for loan losses was $54.5 million at June 30, 2014, as compared to $53.6 million for the prior quarter. The Company’s allowance for loan losses as a percentage of loans remained consistent at 1.12% for both June 30, 2014 and March 31, 2014.

CONFERENCE CALL INFORMATION

Christopher Oddleifson, Chief Executive Officer and Robert Cozzone, Chief Financial Officer will host a conference call to discuss second quarter earnings at 10:00 a.m. Eastern Time on Friday, July 18, 2014. Internet access to the call is available on the Company’s website at www.rocklandtrust.com or via telephonic access by dial-in at 1-888-317-6016 reference: INDB. A replay of the call will be available by calling 1-877-344-7529. Replay Conference Number: 10048506. The webcast replay will be available until July 18, 2015.

ABOUT INDEPENDENT BANK CORP.

Independent Bank Corp. has approximately $6.3 billion in assets and is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. Rockland Trust offers a wide range of banking, investment, and insurance services to businesses and individuals through retail branches, commercial lending offices, investment management offices, and residential lending centers located in Eastern Massachusetts and Rhode Island and through telephone banking, mobile banking, and the Internet. To find out why Rockland Trust is the bank “Where Each Relationship Matters ®”, please visit www.rocklandtrust.com. Rockland Trust is an FDIC Member and an Equal Housing Lender.

This press release contains certain “forward-looking statements” with respect to the financial condition, results of operations and business of the Company. These statements may be identified by such forward-looking terminology as “expect,” “achieve,” “plan,” “believe,” “future,” “positioned,” “continued,” “will,” “would,” “potential,” or similar statements or variations of such terms. Actual results may differ from those contemplated by these forward-looking statements.

Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to:

• a weakening in the United States economy in general and the regional and local economies within the New England region and the Company’s market area;
• adverse changes in the local real estate market;
• a further deterioration of the credit rating for U.S. long-term sovereign debt;
• acquisitions may not produce results at levels or within time frames originally anticipated and may result in unforeseen integration issues or impairment of goodwill and/or other intangibles;
• changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System;
• higher than expected tax rates and any changes in and any failure by the Company to comply with tax laws generally and requirements of the federal New Markets Tax Credit program;
• unexpected changes in market interest rates for interest earning assets and/or interest bearing liabilities;
• adverse changes in asset quality including an unanticipated credit deterioration in our loan portfolio;
• unexpected increased competition in the Company’s market area;
• unanticipated loan delinquencies, loss of collateral, decreased service revenues, and other potential negative effects on our business caused by severe weather or other external events;
• a deterioration in the conditions of the securities markets;
• our inability to adapt to changes in information technology;
• electronic fraudulent activity within the financial services industry, especially in the commercial banking sector;
• adverse changes in consumer spending and savings habits;
• the effect of new laws and regulations regarding the financial services industry including, but not limited to, the Dodd-Frank Wall Street Reform and Consumer Protection Act;
• changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) generally applicable to the Company’s business;
• changes in accounting policies, practices and standards, as may be adopted by the regulatory agencies as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board, and other accounting standard setters; and
• other unexpected material adverse changes in our operations or earnings.

The Company wishes to caution readers not to place undue reliance on any forward-looking statements as the Company’s business and its forward-looking statements involve substantial known and unknown risks and uncertainties included in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q (“Risk Factors”). Except as required by law, the Company disclaims any intent or obligation to update publicly any such forward-looking statements, whether in response to new information, future events or otherwise. Any public statements or disclosures by the Company following this release which modify or impact any of the forward-looking statements contained in this release will be deemed to modify or supersede such statements in this release. In addition to the information set forth in this press release, you should carefully consider the Risk Factors.

This press release contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Operating earnings and operating EPS, which are non-GAAP financial measures, exclude gain or loss due to items that management believes are unrelated to its core banking business and will not have a material financial impact on operating results in future periods, such as gains or losses on the sales of securities, merger and acquisition expenses, and other items. The Company’s management uses operating earnings and operating EPS to measure the strength of the Company’s core banking business and to identify trends that may to some extent be obscured by such excluded gains or losses. The Company has included information on these non-GAAP measures because management believes that investors may find it useful to have access to the same analytical tool used by management and may also find that it facilitates the comparison of the Company to other companies in the financial services industry. These non-GAAP measures should not be viewed as a substitute for operating results determined in accordance with GAAP. An item which management deems to be non-core and excludes when computing these non-GAAP measures can be of substantial importance to the Company’s results for any particular quarter or year. The Company’s non-GAAP performance measures, including operating earnings and operating EPS, are not necessarily comparable to non-GAAP performance measures which may be presented by other companies.