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Welcome East Boston Savings Bank Customers

East Boston Savings Bank Customers

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.



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Important Additional Information

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.


Who is Rockland Trust?

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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.


What are the benefits of becoming a Rockland Trust customer?

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Becoming a Rockland Trust customer will provide you with a broad range of banking options such as:

  • More banking locations with 97 branches located throughout Massachusetts, including Greater Boston, the South Shore, Cape Cod and the Islands, the South Coast, and Worcester County;
  • Convenient banking with access to over 160 Rockland Trust ATMs, thousands of SUM ATMs surcharge-free, 22 branches with Sunday hours, a Customer Information Center that’s open seven-days a week, extended banking hours using our ATMs with Live Teller Services, telephone banking, and online live chat;
  • "Smart" ATMs with envelope free deposit capability;
  • State-of-the-art mobile banking for consumers and businesses with finger print and face ID login;
  • Mobile wallet access with Apple Pay, Google Pay, and Samsung Pay;
  • An app that allows you to temporarily turn your Rockland Trust Debit Card on and off;
  • Access to a large team of investment advisors and a wide range of investment management and trust services and products through the Rockland Trust Investment Management Group (IMG)-including investment management, retirement planning, financial planning, trust and estate planning, tax planning, and insurance strategies and solutions;
  • Customized solutions for Non-Profit Organizations;
  • A robust suite of Treasury Management products and services for businesses;
  • Business and consumer credit cards that provide rewards, multiple layers of security, and other built-in benefits;
  • Larger commercial lending capacity, up to $75 million per qualified business client;
  • Merchant services that allow business customers to accept credit and debit cards in their stores and even on their websites;
  • Foreign exchange services and
  • 1031 exchange service

What is the impact of the merger into Rockland Trust for East Boston Savings Bank customers?

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close answer x There is no immediate impact. You should continue to use East Boston Savings Bank branches, checks, debit cards, online banking and bill pay, and make loan payments as you do today. As we begin our transition and start work on integrating the two organizations, Rockland Trust will communicate any changes to your accounts. Every effort will be made to minimize changes to your accounts as the two organizations’ products and systems are aligned.

When will the transaction be completed?

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close answer x The transaction is subject to approval by banking regulators. We anticipate that the merger will be completed on or about November 12, 2021.

What will the name of the bank be?

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close answer x The name of the combined bank will be Rockland Trust.

When can I start using Rockland Trust branches?

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close answer x Starting on Monday, November 15th, you can begin using any Rockland Trust branch location.

Will any branches close?

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close answer x In connection with the merger into Rockland Trust and after careful consideration, we have petitioned state and federal regulatory authorities for permission to close some East Boston Savings Bank branches on or about Friday, November 12, 2021. For a full list of branches after the merger is completed, please visit RocklandTrust.com/EBSB-Branch-Availability.

Will my branch remain open?

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close answer x A number of East Boston Savings Bank locations will be permanently closed following the merger. For a list of branches that will be closing, click here.

Where are the neighboring Rockland Trust branches located?

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close answer x For a map and a complete listing of all of our locations, visit RocklandTrust.com/Locations.

Will I receive a new ATM and/or debit card?

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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.


When can I activate my new debit card?

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close answer x You can activate and begin using your new Rockland Trust Debit Card on or after Monday, November 15th.

Does Rockland Trust offer online banking?

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close answer x Yes. If you are currently an online banking and bill pay customer, you will receive a separate mailing from us in late October with instructions on how to get started with Rockland Trust Online Banking.

Does Rockland Trust offer mobile banking?

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close answer x Yes. Rockland Trust offers mobile banking with mobile check deposit. You can download and start using the app on or after November 15th.

Will I have access to my East Boston Savings Bank account history online?

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close answer x After the merger, you will have access to 60 days of online banking transaction history, however you will not have access to view check images within your online banking transaction history. In addition, you will also have access to three years of eStatements through Rockland Trust Online Banking and will be able to view your check images on your eStatements.

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.


Does Rockland Trust have telephone banking?

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close answer x Yes. With Rockland Trust’s Telephone Banking, you can access account information, transfer funds between accounts, make loan payments, and do much more when and where it’s convenient for you. For security reasons, on or after November 15th, you will need to establish an access number and telephone PIN to use our telephone banking system. To establish an access number and telephone PIN, visit your local branch or call our Customer Information Center at 508.732.7072 after the merger.

What will happen to my safe deposit box?

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close answer x If you have a safe deposit box at the Dorchester, Everett, East Boston, Lynn, or Saugus branch, there will be no interruption with your safe deposit box. If you have a safe deposit box at the Melrose branch, you should have already received a separate communication from us to close out your box. If you have not closed your safe deposit box at the Melrose branch, please do so by October 29th.

What is Rockland Trust’s routing and transit number?

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close answer x The Rockland Trust routing and transit number is 011304478.

Does Rockland Trust offer a service that allows me to make external transfers and send money to friends and family?

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close answer x As a personal banking customer, you can use the Friends and Family Transfers feature in online and mobile banking to transfer money to another Rockland Trust Online Banking customer. In addition, you can use our external transfer feature to transfer money to accounts you may have at other financial institutions. Rockland Trust does not offer People Pay. In the near future, you will be able to send and receive money electronically using Zelle®.

Can I continue to use my East Boston Savings Bank Credit Card?

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close answer x You can continue to use your existing East Boston Savings Bank Credit Card without any interruption. For any questions regarding your East Boston Savings Bank Credit Card, please continue to call 1.800.558.3424 for consumer assistance and 1.866.552.8855 for business assistance.

How will future details about this merger or my accounts be communicated to me?

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close answer x All communications will be sent by U.S. mail, and updated information for all customers will be available at RocklandTrust.com/Welcome.

How much notice will I be given about changes that affect me?

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close answer x In the immediate future, you can expect very little change to your accounts and the way you bank. We’ll inform you every step of the way as East Boston Savings Bank merges into Rockland Trust. Watch your mailbox and email in the coming months for additional information. To ensure you don’t miss any important messages from us, please log in to East Boston Savings Bank online banking to confirm your phone number, mailing address, and email address are up to date.

As an East Boston Savings Bank Customer, is there anything I need to do at this time?

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close answer x Here are a few steps you can take:

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.


Will my account number(s) remain the same?

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close answer x In most cases your account number(s) will not be changing. If there was a change to an account number, you would have already been contacted by East Boston Savings Bank.

What is Rockland Trust’s deposit insurance coverage?

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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.


Can I use my current checks?

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close answer x If you have a checking account, you may continue using your existing checks beyond the merger date. After the merger is complete, you will receive a communication on how to order Rockland Trust checks.

Will Rockland Trust continue to automatically deduct payments from my account?

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close answer x Automatic payments from your East Boston Savings Bank Visa Debit Card will no longer process after November 14th. However, there will be no interruption in any other automatic payments or direct deposits from/to your checking or savings account. A notification of change will be sent from Rockland Trust to the person/company that is initiating the transaction, asking them to change the routing and transit number to Rockland Trust’s routing and transit number (011304478). After the merger is complete, if you have companies that make direct deposits to your account, you may receive a paper check during the time the person/company is updating your records.

When will funds from my deposits be available?

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close answer x Under our Funds Availability Policy, your deposits are generally available on the first business day after the business day we receive them. Electronic direct deposits and cash deposits are generally available the business day we receive them. We may extend these times in certain cases. Please refer to the enclosed Funds Availability Policy for more details.

What will happen to the direct deposit of my payroll, Social Security, pension, or government payments into my account?

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close answer x Direct deposit of payroll, Social Security, pension, or government payments will automatically continue after the merger. However, a notification of change will be sent from Rockland Trust to the person/ company that is initiating such transactions, asking them to change the routing and transit number to Rockland Trust’s routing and transit number (011304478). After the merger is complete, if you have companies that make direct deposits to your account, you may receive a paper check during the time the person/company is updating your records.

Will I continue to be able to use Allpoint ATMs surcharge free after the merger?

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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.


Will there be any changes to my deposit statement(s)?

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close answer x Your statement(s) will look slightly different. You will receive your savings statement monthly if there has been an electronic transaction that month; otherwise, you will receive your statement quarterly. Checking account statements will be mailed monthly. If you received eStatements for your checking or savings account(s), you will need to reinstate them by accepting the eStatement disclosure in the Rockland Trust Online Banking system after the merger is complete.

When will I receive my last statement from East Boston Savings Bank?

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close answer x A final East Boston Savings Bank account statement for all checking and savings accounts will be mailed to you with up-to-date information as of November 12th. If you receive electronic statements, you will receive your final statement via mail.

When will I receive a new Rockland Trust passbook?

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close answer x You will receive a new Rockland Trust passbook when you perform your first transaction in a branch on or after November 15th. For your records, we recommend that you visit your local branch and have your East Boston Savings Bank passbook updated by the close of business on Friday, November 12th.

Will there be any changes to my existing Certificate of Deposit (CD)?

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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.


Will there be changes to my CD or IRA passbook account?

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close answer x You will continue to earn interest on your CD or IRA account. However, Rockland Trust does not offer passbooks for CD or IRA accounts. If you have a CD passbook account, you will receive a notice 30 days prior to maturity. If you have an IRA account, statements will be mailed semiannually.

Will the terms of my IRA account change?

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close answer x No. There will be no changes to the terms of your existing IRA. Upon the merger, Rockland Trust will become the custodian of your IRA.

Will I still have access to my Courtesy Overdraft Protection Service?

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close answer x After the merger is complete, you will have access to Rockland Trust’s Discretionary Overdraft Privilege service. Discretionary Overdraft Privilege will be limited to a maximum of $750. Discretionary Overdraft Privilege allows Rockland Trust to pay overdrafts for checks, other debit transactions made using your checking account number (e.g., ACH debit transactions), and automatic bill payments from your checking account. Rockland Trust will not pay overdrafts for ATM or everyday debit card transactions for consumer customers unless you have opted in to the payment of these overdrafts. If you have opted in to the payments of these overdrafts with East Boston Savings Bank, you will continue to have this service. For our business customers, Discretionary Overdraft Privilege automatically includes all transaction types. This feature is not available for Commercial Checking accounts.


Are there any changes to the terms of my loan(s)?

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close answer x No. The terms of your loan(s) will remain the same.

Will my loan account number(s) remain the same?

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close answer x In most cases your account number(s) will not be changing; however, the five-digit suffix after your account number will no longer be printed on your statement and is not required to make a loan payment (example -00001).

Will I still have access to my overdraft protection line of credit?

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close answer x Yes. If you have an overdraft protection line of credit and overdraw your account, you will be covered for the exact amount of the overdraft, up to the limit of your overdraft protection line of credit.

When are overdraft protection line of credit payments due?

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close answer x Monthly payments are due 25 days from the date of your statement.

Where do I make my loan payments?

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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.


Will Rockland Trust continue to automatically debit my deposit account for my loan payment?

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close answer x Yes. Any automated payment arrangement will continue uninterrupted. The bank will attempt to withdraw funds from your deposit account for three days beginning on your scheduled automatic payment date.

Will I still be able to use my Home Equity Line of Credit?

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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.


When is my Home Equity Line of Credit payment due?

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close answer x Home Equity Line of Credit payments are due 25 days from the date of your statement.

I have a loan secured by collateral. What do I need to provide to my insurance company?

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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