Rockland’s Independent Bank Corp., parent of Rockland Trust Co., has reported net income of $11.1 million for the third quarter, compared to $8 million recorded in the second quarter.

"Our loan portfolios are weathering the difficult economic environment extremely well, leading to a reduction in credit losses. While overall loan growth was a challenge due to heavy commercial real estate paydowns and payoffs, our commercial and industrial and home equity loan portfolios both grew during the third quarter," said Christopher Oddleifson, president and chief executive officer. "All our loan origination pipelines remain strong. Another indication of our health is the growth of assets under management in our investment management group, which reached nearly $1.5 billion, 10.4 percent over the second quarter level."