Independent Bank (INDB) reported Q1 non-GAAP earnings Thursday of $1.06 per diluted share, down from $1.12 a year earlier.

Four analysts polled by FactSet expected $1.17.

Revenue for the quarter ended March 31, expressed as the sum of net interest income and total noninterest income, was $178 million, up from $167.4 million a year earlier.

One analyst surveyed by FactSet expected $175 million.

Shares were down nearly 3% in recent after-hours activity.