We are delighted to announce that East Boston Savings Bank and Rockland Trust have signed a definitive merger agreement. By joining forces, we will be bringing together two strong commercial banks with a long and rich history of serving and investing in their local communities and providing exemplary customer service. We anticipate the merger to be completed on November 12, 2021, subject to regulatory approvals.
With more than a 114-year heritage of building long-term relationships with our customers, at Rockland Trust you can count on receiving superior service from our team of knowledgeable professionals, each of whom strives to live up to our promise of "Where Each Relationship Matters."
Please use the information below to learn more about Rockland Trust and general timelines for the transition of accounts from East Boston Savings Bank to Rockland Trust. As we work on integrating the two organizations, Rockland Trust will update this page regularly. We will communicate directly with East Boston Savings Bank customers about any changes related to your account(s) and services.
Independent Bank Corp. intends to file a registration statement with the SEC, which investors should read carefully. Investors will be able to obtain filings by Independent and Meridian Bancorp, Inc. with the SEC free of charge at the SEC’s website at www.sec.gov. Independent and Meridian, and certain of their respective directors, executive officers and other members of management and employees, may be deemed to be participants in the solicitation of proxies from Independent’s shareholders and Meridian’s stockholders in respect of the proposed merger transaction. Information about these persons is included in each company’s annual proxy statement, and will be included in the registration statement and related proxy statement/prospectus when filed.
Rockland Trust is a community-oriented commercial bank headquartered in Massachusetts that has been serving consumers and businesses since 1907. Rockland Trust has a deep commitment to the communities it serves and takes great pride in delivering exceptional customer service. As of April 2021, Rockland Trust has 97 branches, 16 commercial lending centers, 10 investment management offices, and 8 mortgage offices located throughout Massachusetts, including Greater Boston, the South Shore, Cape Cod and the Islands, the South Coast, and Worcester County.
We provide personal and business banking, commercial lending, investment management, insurance, mortgages, home equity lending, and mobile and online banking. Rockland Trust is a leader in business and commercial banking, having been awarded Gold by Banker & Tradesman for their "Best of Awards" in Commercial Lending and Alternative/Hard Money Lending as well as Silver for Real Estate Lending. In addition, Rockland Trust was ranked the #1 Bank in Massachusetts on Forbes’ 2020 World’s Best Banks list.
At Rockland Trust, we strive every day to be the bank Where Each Relationship Matters® and we believe that our future is tied to the well-being of the communities we serve. Being a good neighbor and giving back to the communities we serve is important to us. Rockland Trust was named by the Boston Business Journal as one of the region’s Top Corporate Charitable Contributors for the 7th consecutive year. In 2020, Rockland Trust and its affiliated foundations donated a combined total of over $2.3 million to support local charities. Being a bank is about more than providing financial products and services—it’s also about being a strong advocate and steward for the community organizations that help support the individuals, families, and businesses that make up our communities. This is a fundamental belief that has been a core element of our culture for more than 114 years.
We have a strong belief that our employees are critical to our success and have worked hard to build a culture where colleagues are respected, cared for, and invested in. We are also proud to share that The Boston Globe has recognized Rockland Trust as one of the “Top Places to Work” in Massachusetts for twelve years in a row. Rockland Trust has also been honored as a “Best Place to Work for LGBTQ Equality” by the Human Rights Campaign each year since 2016.
Becoming a Rockland Trust customer will provide you with a broad range of banking options such as:
Yes. Prior to the merger, you will receive a new Contactless chip-enabled debit card with important information about card activation and when you should start using the new card. In addition, you will receive a separate mailing with your new PIN information.
Important: If you have automatic payments processed through your East Boston Savings Bank Visa Debit Card, for instance, any health club memberships, Netflix, or Hulu accounts, be sure to provide your new Rockland Trust Debit Card account number to your service providers on or after November 15th to avoid interruption with your service.
If you are also an existing Rockland Trust Debit/ATM cardholder, you will receive a new card to access your converting East Boston Savings Bank account(s). After the merger is complete, you can contact us and link your account(s) to one card.
For your records, we recommend that before November 12th you print or download copies of all your eStatements and online banking transaction history.
Going forward, you will have access to 13 months of transaction history in online banking.
Bank as you normally would today. For now, you will continue to see the East Boston Savings Bank name at East Boston Savings Bank branches, ATMs, and on the website.
Log in to your East Boston Savings Bank online banking account and confirm your phone number, mailing address, and email address are up-to-date.
Watch your mailbox and email. We'll continue to give you timely updates as we transition East Boston Savings Bank into Rockland Trust.
Rockland Trust is a strong, secure, and well-capitalized bank. All deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. Deposits you hold in different ownership categories—such as joint, single, and retirement accounts—are each separately insured up to $250,000. That means, for example, that you could have up to $250,000 in single-name accounts and up to $250,000 in your share of joint accounts and still be fully insured.
Following the closing, excess deposit insurance through the Depositors Insurance Fund (DIF) for amounts that exceed FDIC deposit insurance limits will end.
Most customers will not be affected by this change. We also participate in the IntraFi® Network DepositsSM program (formerly known as CDARS). Participation in the IntraFi Network Deposits program enables customers to access FDIC insurance on deposits of up to $50 million. Deposits at East Boston Savings Bank are also insured by the FDIC up to $250,000. If you have accounts at both Rockland Trust and East Boston Savings Bank, under federal law you will continue to receive the same FDIC coverage as if your accounts were still at separate banks for six months after the merger. After six months have passed, if your total aggregate account balances exceed $250,000, any excess may not be covered by FDIC insurance. Certificates of Deposit will continue to receive separate FDIC insurance coverage until the first maturity date after the six-month period.
Rockland Trust does not provide surcharge free access at Allpoint ATMs. Rockland Trust has over 200 ATM locations throughout Massachusetts and is a member of the SUM® program. The SUM program gives you access to thousands of ATMs across the country surcharge free. For a list of SUM ATM locations, visit SUM-ATM.com (Opens in a new Window).
Note: Rockland Trust may charge you a fee to use another bank’s ATM even within the SUM program. However, the other bank’s fee will not be charged.
The interest rate and term of your existing CD will remain the same through its maturity. Prior to maturity, you will receive a CD pre-renewal notice. At maturity, or during the grace period of 10 calendar days following and including the maturity date, you may change the term, interest payment frequency, and principal amount of your CD. During the grace period, you may also choose not to renew your CD. If you do not renew your CD, you will not earn interest past the maturity date. If you do not make any changes, your CD will automatically renew for the term indicated on your CD pre-renewal notice.
Note: If you have a CD that allows for interest rate increases (Bump CD), these will no longer be offered after the merger and your account will be converted to a traditional CD. This means you will no longer be able to adjust your interest rate.
You can make loan payments through online banking, at any Rockland Trust branch, or by mailing your payment to:
Consumer Loan Payments Commercial Loan Payments
Rockland Trust Rockland Trust
P.O. Box 884016 P.O. Box 884017
Boston, MA 02284-4016 Boston, MA 02284-4017
Online Payments: If you use an online bill pay provider outside of East Boston Savings Bank, please update your account with the address above. Rockland Trust’s routing and transit number is 011304478.
Yes. You will still have access to your line of credit. Draw amounts will be for the exact amount of the advance. After the merger is complete, you will receive a new packet of Rockland Trust checks. You should continue to use your East Boston Savings Bank home equity checks until you receive your new Rockland Trust checks. Upon receipt of the new checks, please destroy the packet you are presently using.
To update your policy, you will need to contact your insurance company and provide them with the following Mortgagee/Loss Payee information.
Rockland Trust ISAOA/ATIMA
P.O. Box 812
Norwell, MA 02061
Rockland Trust Online Banking gives you a variety of services that help you use and manage your accounts, whenever and wherever you want.
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Rockland Trust makes it easy to manage all of your accounts with our simple online portals.
