April 12, 2023 – Hanover, MA – Independent Bank Corp., bank holding company of Rockland Trust Co., is honored to announce that it has been ranked #5 in S&P Global Market Intelligence’s list of 2022 Top 50 Public Banks. The banks that appeared on this list were ranked on growth, profitability and overall safety and soundness. Independent Bank Corp. is the top New England-based bank to make the list and the only Massachusetts-based bank to rank in the top 20.
“This recognition underlines the strong performance year we had in 2022 as a result of our colleagues’ unwavering dedication to our customers, communities, and shareholders,” said Mark Ruggiero, Chief Financial Officer and Executive Vice President of Consumer Lending at Rockland Trust. “This ranking reaffirms our disciplined strategy of focusing on true relationship banking to build long-term and sustainable value.”
Companies were ranked based on three major categories, using calendar-year data as well as GAAP data unless otherwise noted: growth, weighted at 35%; profitability, weighted at 35%; and safety and soundness, weighted at 30%. For more information about the full rankings and criteria please click here.