Rockland-based Independent Bank Corp., parent of Rockland Trust Co., reported net income of $11.8 million for the fourth quarter of 2010, a 5.7 percent increase compared to $11.1 million recorded in the third quarter.

In 2010, Independent Bank Corp.’s entire net income was $40.2 million, a significant decrease from the $23 million reported in 2009, according to a statement.

"Rockland Trust had an outstanding year in 2010," said Christopher Oddleifson, president and CEO of Independent Bank Corp. and Rockland Trust Co. "Our strength and stability in the market and the focused efforts of all my colleagues enabled us to earn new customer relationships and expand existing relationships. We are very pleased with our overall performance, especially during these difficult economic times."