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. The Bank is considered a leader in 1031 like-kind exchanges (click here to learn more).
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.
Independent Bank Corp. (NASDAQ Global Select Market: INDB) has approximately $8.9 billion in assets and is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. Named in 2016 to The Boston Globe’s “Top Places to Work” list for the eighth consecutive year, Rockland Trust offers a wide range of banking, investment, and insurance services. The Bank serves businesses and individuals through approximately 100 retail branches, commercial and residential lending centers, and investment management offices in eastern Massachusetts, including Greater Boston, the South Shore, the Cape and Islands, and Rhode Island. Rockland Trust also offers a full suite of mobile, online, and telephone banking services. The Company is an FDIC member and an Equal Housing Lender. To find out why Rockland Trust is the bank “Where Each Relationship Matters®”, please visit www.rocklandtrust.com