Rockland Trust Finalizes Merger with East Boston Savings

According to Emily McDonald, Project Manager, Marketing Strategy and Analysis at Rockland Trust Company, Friday night marked the formal completion of another major acquisition by the Rockland-based financial institution.

Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, announced the closing of its acquisition of Meridian Bancorp, Inc., parent of East Boston Savings Bank, and Rockland Trust’s acquisition of East Boston Savings Bank.

The combination reinforces Rockland Trust’s position as one of the region’s largest community-focused commercial banks.

“We heartily welcome the customers of East Boston Savings Bank to Rockland Trust, and we look forward to demonstrating our shared commitment to the highest standards of customer service. We remain excited about the strategic benefits of this transaction and are eager to get started unlocking the opportunities resulting from the combination of two leading franchises and increased scale, including expansion of Rockland’s broad financial product set to an expanded business and consumer customer base,” said Christopher Oddleifson, the Chief Executive Officer of Independent Bank Corp. and Rockland Trust Company.

The conversion of East Boston Savings Bank customer accounts to Rockland Trust’s systems was slated to be complete by the start of business on Monday November 15, 2021. Rockland Trust customers will not be impacted by the conversion.

Rockland has grown steadily over the years, including the acquisition of Franklin-based Ben Franklin Savings Bank, which started locally in 1871 and became part of Rockland in 2009. That move landed Rockland a total of 11 branches along Route 495. Both of the former Ben Franklin locations became and have remained part of Rockland.

According to the company, Rockland Trust was named to The Boston Globe's "Top Places to Work" 2020 list, an honor earned for the 12th consecutive year. In 2021, Rockland Trust was ranked the #1 Bank in Massachusetts according to Forbes World's Best Banks list for the second year in a row. The Bank serves businesses and individuals through approximately 125 retail branches, commercial and residential lending centers, and investment management offices in eastern Massachusetts, including Greater Boston, the South Shore, Cape Cod and Islands, Worcester County, and Rhode Island.