Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides a range of banking services to individuals and small-to-medium sized businesses. The company operates 82 full service and 3 limited service retail branches, 11 commercial banking centers, 5 investment management offices, and 1 mortgage lending center, all of which are located in Eastern Massachusetts, including Cape Cod, with the exception of an investment management group/commercial lending office located in Providence, Rhode Island. In 2015, the company completed the acquisition of Peoples Federal Bancshares, Inc., adding eight full service bank branches. The company’s 85 branch locations are supplemented by its Internet and mobile banking services, as well as automated teller machine (ATM) cards and debit cards, which might be used to conduct various banking transactions at ATMs maintained at each of its full-service offices and 9 additional remote ATM locations. As of December 31, 2015, the bank had the following corporate subsidiaries, all of which were wholly-owned by the bank: Six Massachusetts security corporations, including Rockland Borrowing Collateral Securities Corp., Rockland Deposit Collateral Securities Corp., Taunton Avenue Securities Corp., Goddard Ave Securities Corp., Central Securities Corporation, and MFLR Securities Corporation. Rockland Trust Community Development Corporation, which has two wholly-owned subsidiaries, Rockland Trust Community Development LLC and Rockland Trust Community Development Corporation II, and which also serves as the manager of three Limited Liability Company subsidiaries wholly-owned by the bank, Rockland Trust Community Development III LLC, Rockland Trust Community Development IV LLC, and Rockland Trust Community Development V LLC, which are all qualified as community development entities under federal New Markets Tax Credit Program criteria. Rockland MHEF Fund LLC was established as a wholly-owned subsidiary of the bank. Massachusetts Housing Equity Fund, Inc. is the third party nonmember manager of Rockland MHEF Fund LLC, which was established to invest in certain low-income housing tax credit projects. RTC LIHTC Investments LLC, which was established to invest primarily in Massachusetts based low-income housing tax credit projects. Rockland Trust Phoenix LLC, formed for the purpose of holding, maintaining, and disposing of certain foreclosed properties. Compass Exchange Advisors LLC, which provides like-kind exchange services pursuant to section 1031 of the Internal Revenue Code. Bright Rock Capital Management LLC, which was established to act as a registered investment advisor under the Investment Advisors Act of 1940. Lending Activities The company classifies loans as commercial, consumer real estate, or other consumer. Commercial loans consist of commercial and industrial loans, asset-based loans, commercial real estate, commercial construction, and small business loans. Asset-based loans consist primarily of revolving lines of credit and also include term loans. Commercial real estate loans include commercial mortgages, including mortgages for construction purposes that are secured by nonresidential properties, multifamily properties, or one-to-four family rental properties. Consumer real estate consists of residential mortgages and home equity loans and lines that are secured primarily by owner-occupied residences and mortgages for the construction of residential properties. Other consumer loans are mainly personal loans and automobile loans. The company’s borrowers consist of small-to-medium sized businesses and consumers. The company’s commercial, consumer real estate, and other consumer loan portfolios consist of loans made to residents of and businesses located in its market area. The majority of the real estate loans in its loan portfolio are secured by properties located within this market area. Commercial Loans: Commercial loans consist of commercial and industrial loans, asset-based loans, commercial real estate loans, commercial construction loans and small business loans. The company offers secured and unsecured c
independent bank corp/ma
288 Union Street
Rockland, MA 02370
The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content.
|No competitor information is available for INDB.|
|View Industry Companies|
Sponsored Financial Commentaries
To contact INDEPENDENT BANK CORP/MA, please visit www.rocklandtrust.com. Company data is provided by Capital IQ. Please use this form to report any data issues.