Rockland Trust's History of Mergers and Acquisitions
A group of local business men in Rockland, Massachusetts created Rockland Trust Company to "promote the business activity and growth of Rockland and its vicinity.”
Rockland Trust purchased the assets of Hanson Credit Union and established a branch, its sixth, in Hanson.
The stockholders of Rockland Trust and Middleborough Trust voted to become wholly owned subsidiaries of a new parent bank holding company, Independent Bank Corp. (NASDAQ Global Select Market: INDB). In 1992 Middleborough Trust was merged with and into Rockland Trust.
Rockland Trust acquired three branches from the former Plymouth Federal Savings Association and the assets of the former Pawtucket Trust Company.
Rockland Trust expanded across the bridge onto Cape Cod with the acquisition of sixteen branches formerly owned by Fleet National Bank.
Rockland Trust expanded its Cape Cod presence with the acquisition of Falmouth Cooperative Bank, adding four branches in Falmouth, Bourne, and Orleans.
Rockland Trust acquired Compass Exchange Advisors LLC, a company specializing in Internal Revenue Code §1031 like-kind exchange services for corporate, institutional, and individual property owners.
Rockland Trust acquired the Lincoln-based O’Connell Investment Services Inc. This expands the Investment Management Group into Providence, Rhode Island as well as bringing the Bank to approximately $900 million of assets under management.
Rockland Trust acquired Slades Ferry Trust Company, adding nine branches located in the South Coast region of Massachusetts, including Fall River and New Bedford.
Rockland Trust added eleven more branches in the Route 495 and Metrowest regions through the purchase of Benjamin Franklin Bank.
Rockland Trust acquired Central Co-operative Bank, gaining nine branches to the north and west of Boston.
Rockland Trust deepened its Plymouth County presence by acquiring Mayflower Co-operative Bank, which was headquartered in Middleboro.
Rockland Trust entered the Boston market through its acquisition of Peoples Federal Savings Bank. Headquartered in Brighton, Peoples Federal added eight branches in Boston neighborhoods to the Rockland Trust network. Those branches joined Rockland Trust’s investment management and commercial lending office in Boston’s Financial District, which opened in 2013.
Rockland Trust deepened its Cape Cod presence with the acquisition of Bank of Cape Cod. The acquisition added a branch in Osterville, increasing Rockland Trust’s total Cape Cod branch network to thirteen locations.
Rockland Trust extended its presence to Martha’s Vineyard with the acquisition of The Edgartown National Bank. The transaction added four branches in Edgartown, Oak Bluffs, and Vineyard Haven.
In the Fall Rockland Trust expanded in Worcester County by acquiring Milford National Bank. In addition, the Bank opened its first office in downtown Worcester with a team of commercial lending and investment management officers.
Rockland Trust welcomed Blue Hills Bank customers and communities, after acquiring the bank in April. The acquisition increased Rockland’s branches to more than 95 and grew its Greater Boston presence with new retail offices in Boston’s Seaport District, Hyde Park, Milton, and Dedham. In addition, the combination extended Rockland Trust’s footprint from Cape Cod and Martha’s Vineyard onto Nantucket. Nantucket Bank will continue to operate under its name as a division of Rockland
Rockland Trust deepened its presence in the city with the acquisition of East Boston Savings Bank. The transaction added 26 branches throughout Greater Boston and three commercial lending centers. The East Boston Savings Bank acquisition was Rockland Trust’s largest yet and brought the Bank close to $20 billion in assets.
Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. With retail branches in Eastern Massachusetts and Worcester County as well as commercial banking and investment management offices in Massachusetts and Rhode Island, Rockland Trust offers a wide range of banking, investment, and insurance services to individuals, families, and businesses. The Bank also offers a full suite of mobile, online, and telephone banking services. Rockland Trust was named to The Boston Globe's "Top Places to Work" 2022 list, an honor earned for the 14th consecutive year. Rockland Trust has a longstanding commitment to equity and inclusion. This commitment is underscored by initiatives such as Diversity and Inclusion leadership training, a colleague Allyship mentoring program, and numerous Employee Resource Groups focused on providing colleague support and education, reinforcing a culture of mutual respect and advancing professional development, and Rockland Trust's sponsorship of diverse community organizations through charitable giving and employee-based volunteerism. In addition, Rockland Trust is deeply committed to the communities it serves, as reflected in the overall "Outstanding" rating in 3 its most recent Community Reinvestment Act performance evaluation. Rockland Trust is an FDIC member and an Equal Housing Lender.