Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses primarily in Massachusetts. Its products and services include demand deposits and time certificates of deposit, as well as checking, money market, and savings accounts. The company's loan portfolio includes commercial loans, such as commercial and industrial, asset-based, commercial real estate, commercial construction, and small business loans; consumer real estate loans, including residential mortgages and home equity loans, and loans for the construction of residential properties; and personal loans. It also provides investment management and trust services to individuals, institutions, small businesses, and charitable institutions; Internet and mobile banking services, as well as automated teller machine (ATM) cards and debit cards; and mutual fund shares, unit investment trust shares, general securities, fixed and variable annuities, and life insurance products. As of December 31, 2020, it operates through a network of ninety-six full service and two limited service retail branches, sixteen commercial banking centers, ten investment management offices, and eight mortgage lending centers in Eastern Massachusetts, Greater Boston, the South Shore, and the Cape and Islands, as well as in Worcester County and Rhode Island. The company was founded in 1907 and is headquartered in Rockland, Massachusetts.
IPO Year:
Exchange: NASDAQ
Website: rocklandtrust.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/21/2024 | $74.00 | Mkt Perform → Strong Buy | Raymond James |
| 7/22/2024 | $65.00 | Neutral → Buy | Seaport Research Partners |
| 10/23/2023 | Sell → Neutral | Seaport Research Partners | |
| 9/12/2023 | $45.00 | Sell | Seaport Research Partners |
| 12/21/2022 | Mkt Perform | Raymond James | |
| 12/13/2022 | $100.00 | Outperform → Mkt Perform | Keefe Bruyette |
| 10/25/2021 | $82.00 → $88.00 | Overweight → Neutral | Piper Sandler |
LOWELL, Mass., April 17, 2025 (GLOBE NEWSWIRE) -- Enterprise Bancorp, Inc. ("Enterprise") (NASDAQ:EBTC), parent of Enterprise Bank, announced its financial results for the three months ended March 31, 2025. Net income amounted to $10.4 million, or $0.84 per diluted common share, for the three months ended March 31, 2025, compared to $10.7 million, or $0.86 per diluted common share, for the three months ended December 31, 2024 and $8.5 million, or $0.69 per diluted common share, for the three months ended March 31, 2024. On December 9, 2024, Enterprise announced its intention to merge with Rockland Trust Company, a wholly owned subsidiary of Independent Bank Corp. (NASDAQ:INDB). The propos
Solid Fundamentals Offset by Elevated Provision Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2025 first quarter net income of $44.4 million, or $1.04 per diluted share, as compared to 2024 fourth quarter net income of $50.0 million, or $1.18 per diluted share. The decline was primarily driven by a higher loan loss provision. These financial results include pre-tax merger-related costs of $1.2 million and $1.9 million for the first quarter of 2025 and fourth quarter of 2024, respectively, associated with the Company's pending acquisition of Enterprise Bancorp, Inc. ("Enterprise") and its subsidiary, Enterprise Bank. Excluding
Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, will host its quarterly conference call to discuss first quarter results on Thursday, April 17, 2025, at 5:30 PM Eastern Time. Telephonic access will be available by dial-in at 888-336-7153 reference: INDB. Participants may also choose to pre-register for the conference by navigating to https://dpregister.com/sreg/10196701/fe73a708c2 which will provide a unique PIN to the participant which allows immediate access to the call. A replay of the call will be available by calling 877-344-7529, Replay Conference Number: 6859369 which will be available through April 25, 2025. Internet access to the call
The Board of Directors of Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced a $0.59 per share dividend, representing a $0.02 increase from the prior quarter. The dividend will be payable on April 7, 2025, to stockholders of record as of the close of business on March 31, 2025. "We are pleased to announce a 4% increase in our annual dividend, reaffirming our commitment to generating long term, sustainable levels of return on capital to our shareholders," stated Jeffrey Tengel, Chief Executive Officer of Independent Bank Corp. ABOUT INDEPENDENT BANK CORP. Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding co
Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, announces the appointment of Leif O'Leary, Dawn Perry, and Aparna Ramesh to its Board of Directors effective April 1, 2025. Their demonstrated expertise in technology-driven innovation, legal oversight, and financial stewardship will further enhance the Bank's strong commitment to sound governance and long-term growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250224411567/en/Leif O'Leary (Photo: Business Wire) "We are pleased to welcome these three exceptional leaders to our Board," said Donna L. Abelli, Chair of both the Independ
Results marked by net interest income growth and stable asset quality Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2024 fourth quarter net income of $50.0 million, or $1.18 per diluted share, as compared to 2024 third quarter net income of $42.9 million, or $1.01 per diluted share. Financial results for the fourth quarter of 2024 also reflected pre-tax merger-related costs of $1.9 million associated with the Company's pending acquisition of Enterprise Bancorp, Inc. ("Enterprise") and its subsidiary, Enterprise Bank, announced on December 9, 2024. Excluding these merger-related costs and the related tax effects, operating net
Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, will host its quarterly conference call to discuss fourth quarter results on Friday, January 17, 2025, at 10:00 AM Eastern Time. Telephonic access will be available by dial-in at 888-336-7153 reference: INDB. Participants may also choose to pre-register for the conference by navigating to https://dpregister.com/sreg/10194177/fde0484bd2 which will provide a unique PIN to the participant which allows immediate access to the call. A replay of the call will be available by calling 877-344-7529, Replay Conference Number: 6760633 which will be available through January 24, 2025. Internet access to the
On December 9, 2024, Rockland, MA-based Independent Bank Corp. (NASDAQ:INDB) ("Independent"), parent company of Rockland Trust Company ("Rockland Trust"), and Lowell, MA-based Enterprise Bancorp, Inc. (NASDAQ:EBTC) ("Enterprise")(KBRA senior unsecured debt rating: BBB / Stable Outlook), parent company of Enterprise Bank and Trust Company ("Enterprise Bank"), jointly announced the signing of a definitive merger agreement pursuant to which Enterprise will merge into Independent and Enterprise Bank will merge into Rockland Trust in a cash and stock transaction for total consideration valued at approximately $562 million, or 1.55X TBV at the merger announcement. Enterprise shareholders will rec
The Board of Directors of Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced a $0.57 per share dividend. The dividend will be payable on January 6, 2025, to stockholders of record as of the close of business on December 30, 2024. Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. With retail branches in Eastern Massachusetts and Worcester County as well as commercial banking and investment management offices in Massachusetts and Rhode Island, Rockland Trust offers a wide range of banking, investment, and insura
The agreement will unite two relationship-driven organizations and expand Rockland Trust's footprint into northern Massachusetts and southern New Hampshire. Independent Bank Corp. (NASDAQ Global Select Market : INDB) ("Independent"), parent of Rockland Trust Company ("Rockland Trust"), and Enterprise Bancorp, Inc. (NASDAQ Global Select Market: EBTC) ("Enterprise"), parent of Enterprise Bank and Trust Company ("Enterprise Bank"), have signed a definitive merger agreement pursuant to which Enterprise will merge into Independent and Enterprise Bank will merge into Rockland Trust in a cash and stock transaction for total consideration valued at approximately $562 million in aggregate, or $45.
3 - INDEPENDENT BANK CORP (0000776901) (Issuer)
3 - INDEPENDENT BANK CORP (0000776901) (Issuer)
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Raymond James upgraded Independent Bank from Mkt Perform to Strong Buy and set a new price target of $74.00
Seaport Research Partners upgraded Independent Bank from Neutral to Buy and set a new price target of $65.00
Seaport Research Partners upgraded Independent Bank from Sell to Neutral
Seaport Research Partners initiated coverage of Independent Bank with a rating of Sell and set a new price target of $45.00
Raymond James initiated coverage of Independent Bank with a rating of Mkt Perform
Keefe Bruyette downgraded Independent Bank from Outperform to Mkt Perform and set a new price target of $100.00
Piper Sandler downgraded Independent Bank from Overweight to Neutral and set a new price target of $88.00 from $82.00 previously
Seaport Global Securities upgraded Independent Bank from Neutral to Buy and set a new price target of $94.00
Piper Sandler upgraded Independent Bank from Neutral to Overweight and set a new price target of $90.00
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Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, announces the appointment of Leif O'Leary, Dawn Perry, and Aparna Ramesh to its Board of Directors effective April 1, 2025. Their demonstrated expertise in technology-driven innovation, legal oversight, and financial stewardship will further enhance the Bank's strong commitment to sound governance and long-term growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250224411567/en/Leif O'Leary (Photo: Business Wire) "We are pleased to welcome these three exceptional leaders to our Board," said Donna L. Abelli, Chair of both the Independ
Accomplished commercial banker Tengel to take helm as Oddleifson retires after two decades as CEO Rockland Trust Company and its bank holding company parent Independent Bank Corp. (NASDAQ Global Select Market: INDB) today announced the appointment of Jeffrey J. Tengel as the successor to current Chief Executive Officer, Christopher Oddleifson, effective on or about February 6, 2023. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230106005465/en/Jeffrey J. Tengel (Photo: Business Wire) Oddleifson has served as the Bank's CEO since 2003. Under his leadership, Rockland Trust has grown total assets from just over $2 billion to nearl
Bank welcomes distinguished business enterprise and technology leader Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced the appointment of Susan Perry O'Day to its Board of Directors effective September 1, 2021. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210819005742/en/(Photo: Business Wire) "We are extremely pleased to welcome Susan to our board," said Donna L. Abelli, Chair of both the Independent and Rockland Trust Board of Directors. "Susan's managerial expertise and her deep knowledge of information systems and technology will bring invaluable perspective whic
LOWELL, Mass., April 17, 2025 (GLOBE NEWSWIRE) -- Enterprise Bancorp, Inc. ("Enterprise") (NASDAQ:EBTC), parent of Enterprise Bank, announced its financial results for the three months ended March 31, 2025. Net income amounted to $10.4 million, or $0.84 per diluted common share, for the three months ended March 31, 2025, compared to $10.7 million, or $0.86 per diluted common share, for the three months ended December 31, 2024 and $8.5 million, or $0.69 per diluted common share, for the three months ended March 31, 2024. On December 9, 2024, Enterprise announced its intention to merge with Rockland Trust Company, a wholly owned subsidiary of Independent Bank Corp. (NASDAQ:INDB). The propos
Solid Fundamentals Offset by Elevated Provision Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2025 first quarter net income of $44.4 million, or $1.04 per diluted share, as compared to 2024 fourth quarter net income of $50.0 million, or $1.18 per diluted share. The decline was primarily driven by a higher loan loss provision. These financial results include pre-tax merger-related costs of $1.2 million and $1.9 million for the first quarter of 2025 and fourth quarter of 2024, respectively, associated with the Company's pending acquisition of Enterprise Bancorp, Inc. ("Enterprise") and its subsidiary, Enterprise Bank. Excluding
Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, will host its quarterly conference call to discuss first quarter results on Thursday, April 17, 2025, at 5:30 PM Eastern Time. Telephonic access will be available by dial-in at 888-336-7153 reference: INDB. Participants may also choose to pre-register for the conference by navigating to https://dpregister.com/sreg/10196701/fe73a708c2 which will provide a unique PIN to the participant which allows immediate access to the call. A replay of the call will be available by calling 877-344-7529, Replay Conference Number: 6859369 which will be available through April 25, 2025. Internet access to the call
The Board of Directors of Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced a $0.59 per share dividend, representing a $0.02 increase from the prior quarter. The dividend will be payable on April 7, 2025, to stockholders of record as of the close of business on March 31, 2025. "We are pleased to announce a 4% increase in our annual dividend, reaffirming our commitment to generating long term, sustainable levels of return on capital to our shareholders," stated Jeffrey Tengel, Chief Executive Officer of Independent Bank Corp. ABOUT INDEPENDENT BANK CORP. Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding co
Results marked by net interest income growth and stable asset quality Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2024 fourth quarter net income of $50.0 million, or $1.18 per diluted share, as compared to 2024 third quarter net income of $42.9 million, or $1.01 per diluted share. Financial results for the fourth quarter of 2024 also reflected pre-tax merger-related costs of $1.9 million associated with the Company's pending acquisition of Enterprise Bancorp, Inc. ("Enterprise") and its subsidiary, Enterprise Bank, announced on December 9, 2024. Excluding these merger-related costs and the related tax effects, operating net
Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, will host its quarterly conference call to discuss fourth quarter results on Friday, January 17, 2025, at 10:00 AM Eastern Time. Telephonic access will be available by dial-in at 888-336-7153 reference: INDB. Participants may also choose to pre-register for the conference by navigating to https://dpregister.com/sreg/10194177/fde0484bd2 which will provide a unique PIN to the participant which allows immediate access to the call. A replay of the call will be available by calling 877-344-7529, Replay Conference Number: 6760633 which will be available through January 24, 2025. Internet access to the
The Board of Directors of Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced a $0.57 per share dividend. The dividend will be payable on January 6, 2025, to stockholders of record as of the close of business on December 30, 2024. Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. With retail branches in Eastern Massachusetts and Worcester County as well as commercial banking and investment management offices in Massachusetts and Rhode Island, Rockland Trust offers a wide range of banking, investment, and insura
The agreement will unite two relationship-driven organizations and expand Rockland Trust's footprint into northern Massachusetts and southern New Hampshire. Independent Bank Corp. (NASDAQ Global Select Market : INDB) ("Independent"), parent of Rockland Trust Company ("Rockland Trust"), and Enterprise Bancorp, Inc. (NASDAQ Global Select Market: EBTC) ("Enterprise"), parent of Enterprise Bank and Trust Company ("Enterprise Bank"), have signed a definitive merger agreement pursuant to which Enterprise will merge into Independent and Enterprise Bank will merge into Rockland Trust in a cash and stock transaction for total consideration valued at approximately $562 million in aggregate, or $45.
Results marked by higher revenues, increased credit provision, and deposit growth Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2024 third quarter net income of $42.9 million, or $1.01 per diluted share, compared to 2024 second quarter net income of $51.3 million, or $1.21 per diluted share. The decline in net income was largely attributable to an increase in the Company's loan loss provision compared to the prior quarter, partially mitigated by higher revenue levels. The increased loan loss provision was primarily attributable to a reserve allocation associated with one commercial real estate loan, while total levels of criti
Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, will host its quarterly conference call to discuss third quarter results on Friday, October 18, 2024, at 10:00 AM Eastern Time. Telephonic access will be available by dial-in at 888-336-7153 reference: INDB. Participants may also choose to pre-register for the conference by navigating to https://dpregister.com/sreg/10191403/fd2e3a95ee, which will provide a unique PIN to the participant which allows immediate access to the call. A replay of the call will be available by calling 877-344-7529, Replay Conference Number: 8729400 which will be available through October 25, 2024. Internet access to the c