Rockland Trust Provides Embrace Home Loans with $20 Million Revolving Line of Credit

Newport-based Company to Use Credit Line for Working Capital

NEWPORT, RI - (January 30, 2013) -- Rockland Trust today announced it provided a $20 million revolving line of credit to Newport-based Embrace Home Loans, named one of the fastest growing companies in America in 2012 by Inc. Magazine. This $20 million line of credit will serve as a working capital facility for Embrace and is the latest transaction in a five-year relationship between Rockland Trust and Embrace. The mortgage lender was recognized by Fortune Magazine as one of the best medium-sized companies to work for in 2012.

"During the past 30 years, we at Embrace have been serviced by a wide variety of large and small commercial banks, but never enjoyed what I consider to be a true commercial banking relationship. Now, we have established such a relationship with Rockland Trust," said Dennis Hardiman, Owner of Embrace Home Loans. "Since we began working with Rockland Trust in 2008, we have looked to them for a variety of business needs and look forward to continuing this relationship for years to come. Rockland took the time and made the effort to get to know us, our company and our industry in ways we had not previously experienced. It's a pleasure to work with a company that is as dedicated to its customers as we are to ours."

Embrace Home Loans, which has 14 offices nationwide, began its relationship with Rockland Trust in 2008 at the height of the financial crisis. At that time, Rockland Trust provided Embrace with commercial real estate mortgage refinancing for its office in Middletown and for the acquisition of the building where its affiliate, Equity National, operates in East Providence. These loans now total approximately $6 million.

"At Rockland Trust, we understand the importance of helping homeowners get their finances in order and meeting their financial and personal goals, which is why it's always a pleasure to work with Dennis Hardiman and his team of mortgage industry executives," said Jonathan C. Neuner, First Vice President of Commercial Lending at Rockland Trust. "As Embrace grows and continues to help current and prospective homeowners here in Rhode Island and nationwide, they have proven to be an exceptional group of managers with a long, proven history of success. Rockland Trust is both pleased and proud of the way the relationship with Embrace has grown during the last five years."

Embrace Home Loans, cited regularly as one of the best place to work locally and nationally by The Great Place to Work Institute and by Providence Business News for seven consecutive years, helps homeowners purchase and refinance their homes and consolidate debt. Embrace employs roughly 600 people, including 260 loan officers who originate 15,000-20,000 loans annually in 46 states, and has an overall customer satisfaction rate of 99 percent.

About Embrace Home Loans

Embrace Home Loans has been helping homeowners with their mortgage financing needs for more than 29 years. Embrace, headquartered in Newport, RI, operates nationwide and helps tens of thousands of customers every year. Embrace is a direct lender for Fannie Mae and Freddie Mac, approved by FHA and VA, and is an issuer for Ginnie Mae. Embrace is a member of the Mortgage Bankers Association, is an Equal Housing Lender and is an accredited member of the Better Business Bureau. Embrace Home Loans has been recognized as one of the best places to work both nationally and in Rhode Island by the Great Place to Work Institute and several business publications, including Fortune Magazine, Inc. 5000 and Providence Business News. To learn more about Embrace Home Loans, visit

About Rockland Trust Company

Rockland Trust Company is a full-service commercial bank headquartered in Massachusetts with $5.8 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 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