Dear customers and community members,
At Rockland Trust, we have an unwavering commitment to our communities that’s over 115 years strong. In times of uncertainty, our mission is to provide the individuals, families and businesses we serve with the stability they have come to expect.
Recent market events and, in particular, the collapse of Silicon Valley Bank (SVB) have raised concerns. On March 12th the Federal Reserve Board announced that it will make additional funding available to help assure banks have the ability to meet the needs of all their depositors. In relation to both SVB and Signature Bank, the Federal Reserve, FDIC and US Treasury jointly announced that they will fully protect all depositors, and that those banks’ customers will have access to all of their money starting March 13th.
In a joint statement, the FDIC, Federal Reserve and Treasury said: “This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth.”
This news brings great relief to those who were impacted.
I would like to underline that Rockland Trust has been supporting our local businesses and communities since 1907. Our bank is managed for the long-term by prioritizing sustainable banking practices. Rockland Trust’s priority to build and nurture meaningful customer relationships has led to a deep and diversified customer base. We are in a strong financial position.
If you have any questions, we invite you to stop by your local branch, reach out to your Rockland Trust representative or call our customer information center at 508.732.7072 (Personal Banking) or 508.732.7078 (Business Banking). For questions related to FDIC insurance, you can visit:
https://www.fdic.gov/resources/deposit-insurance/understanding-deposit-insurance/
On behalf of all my colleagues, I want to thank our customers and communities for the trust and confidence you place in us. Inspired by our purpose to be the Bank Where Each Relationship Matters®, we are proud to continue providing you with the highest level of dedication, care and support.
Jeffrey Tengel, Chief Executive Officer
About Rockland Trust
Rockland Trust offers a wide range of banking, investment, and insurance services. With over 120 retail branches, commercial and residential lending centers, and investment management offices throughout Massachusetts and Rhode Island, we are here to support you with your everyday financial needs and help you think about your plans for the future. Rockland Trust is an FDIC member and an Equal Housing Lender.
