Rockland Trust

In 1907, a group of local businessmen in Rockland, Massachusetts, saw a need for a bank to foster local growth. They established the Rockland Trust Company with initial assets of $200,000 to serve the business community. An early leader who emerged was Horace T. Fogg, the executive committee chairman. Showing early signs of innovation, the bank launched an "Automobile Banking" service in 1910, using a specially adapted car to reach towns without convenient banking facilities. The company's journey was one of steady, deliberate expansion. A pivotal moment came in 1985 when Rockland Trust merged with Middleborough Trust Company. This led to the creation of a new parent holding company, Independent Bank Corp., which allowed for greater strategic flexibility. By 1992, all branches began operating under the Rockland Trust name. Independent Bank Corp. trades on the NASDAQ under the ticker INDB. Rather than a single, explosive event, Rockland Trust's modern history is defined by a series of strategic acquisitions. Starting with Slades Ferry Bank in 2008, the company began a "buying spree" that expanded its footprint across Massachusetts. Key acquisitions included Benjamin Franklin Bank, which brought it into Boston's western suburbs, and the transformative $1.15 billion acquisition of East Boston Savings Bank in 2021, which pushed its total assets to around $20 billion. This strategy of methodical growth through acquisition has defined the bank's playbook.