Safe you Finance

Independent Bank Corp., the parent of Rockland Trust Co., said net income in the fourth quarter increased 33 percent to $9.1 million from the previous three months as the bank saw a strong upswing in wealth-management revenue.

Net income was up more than 200 percent when compared with the year-ago quarter, or before the bank acquired Benjamin Franklin Bancorp Inc.

For the year ended Dec. 31, Rockland Trust’s (Nasdaq: INDB) net income was $23 million compared with $24 million in 2008.

Total assets increased by $48 million, or 1.1 percent, to $4 us fast cash.5 billion in the fourth quarter, compared with the previous quarter.

The company recorded non-interest income of $10 million during the fourth quarter, an increase of $5.6 million when compared with the quarter ended Sept. 30. The change in non-interest income included a wealth management revenue increase of $451,000, or 19.8 percent, because of general stock market appreciation and strong sales results. Assets under management in the wealth management division were $1.3 billion at the end of December.

Source