Forbes Names Rockland Trust One of the “Best Banks” in America for Third Consecutive Year
ROCKLAND, Mass. (January 22, 2013) - Independent Bank Corp., the parent company of Rockland Trust, has been recognized as the best community bank headquartered in Massachusetts on Forbes' list of America's Best and Worst Banks 2013. The bank ranked 29th nationwide this year in financial health among publically traded banks and thrifts. For its fourth annual report, Forbes and SNL Financial reported data on the 100 largest publically traded banks, including information on assets and profitability. This is the third consecutive year Rockland Trust has made the list of healthiest banks in the county.
"This acknowledgement, along with being ranked "Highest in Customer Satisfaction with Retail Banking in the New England Region" in 2012 by J.D. Power and Associates, demonstrates that the most successful banks are those that focus on helping customers meet their needs," said Chris Oddleifson, President and CEO of Rockland Trust. "We have steadily grown due to our longstanding commitment to supporting all our customers with exemplary service and innovative products to help them successfully manage their finances."
Forbes, an American publishing and media company and the owner of Forbes Magazine, ranked the 100 largest publically traded banks on eight metrics of financial health: return on average equity, net interest margin, nonperforming loans as a percentage of loans, nonperforming assets as a percentage of assets, reserves as a percentage of nonperforming loans, two capital ratios (Tier 1 and risk-based) and leverage ratio. All data is based on filings through the third quarter of 2012.
About Rockland Trust Company
Rockland Trust Company is a full-service commercial bank headquartered in Massachusetts with $5.7 billion in assets. The sole bank subsidiary of Independent Bank Corp. (NASDAQ:INDB), Rockland Trust provides a wide range of consumer, business, investment, and insurance products and services throughout Eastern Massachusetts and Rhode Island. Ranked "Highest Customer Satisfaction with Retail Banking in the New England Region" in 2012 by J.D. Power and Associates, Rockland Trust's network consists of nearly 80 retail branches, and 15 commercial lending, investment management, and residential lending centers in Eastern Massachusetts and Rhode Island. To find out why Rockland Trust is the bank "Where Each Relationship Matters®", please visit www.RocklandTrust.com. Member FDIC. Equal Housing Lender.
Rockland Trust Co. received the highest numerical score among retail banks in the New England region in the proprietary J.D. Power and Associates 2012 Retail Banking Satisfaction Study(sm). The study was based on 51,498 total responses measuring 13 providers in the New England region (CT, MA, ME, NH, RI & VT) and measures opinions of consumers with their primary banking provider. Proprietary study results are based on experiences and perceptions of consumers surveyed January-February, 2012. Your experiences may vary. Visit www.jdpower.com.