| Type | Subsidiary of Independent Bank Corp. (NASDAQ: INDB) |
|---|---|
| Industry | Banking |
| Founded | 1907 |
| Headquarters | Rockland, Massachusetts, USA |
| Total assets | US$5.6 billion |
| Website | www.RocklandTrust.com |
Rockland Trust is a commercial bank based in Rockland, Massachusetts that serves Southeastern Massachusetts, Coastal Massachusetts, Cape Cod, and Boston's MetroWest. Established in 1907[1] as Rockland Trust Company, it is one of few local banks that retain their original name and independent ownership after more than 100 years. (Rockland Trust Company is the wholly owned subsidiary of Independent Bank Corp.,[2] which is publicly traded on NASDAQ (INDB).) Rockland Trust is the largest publicly traded commercial bank headquartered in Massachusetts, with $4.6 billion in assets and over 1000 employees. Rockland Trust offers a wide range of commercial, retail, commercial banking products and services, business and consumer loans, insurance products and services, and investment management services from: 67 retail branches, 10 commercial lending centers, and 4 mortgage banking centers located throughout Eastern Massachusetts and on Cape Cod; and 4 investment management offices located in Southeastern Massachusetts, on Cape Cod, and in Rhode Island. Corporate headquarters are in Hanover, Massachusetts.
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Rockland Trust's 1927 petition to open a branch in Hull, Massachusetts sparked a state-level debate on whether to allow "kangaroo banking" (banks opening branches in non-adjacent towns). The proposal was opposed by Alvan T. Fuller, then Governor of Massachusetts, and Hingham Trust, a bank based closer to Hull. The petition was finally granted by the Massachusetts legislature.[3]
In 1910, Rockland Trust began offering "Automobile Banking" — an innovative program that offered banking services to nearby towns (including Hull, Massachusetts) from the window of a special adapted car. The program was so well received that it continued through 1955.
In 2008, Rockland Trust acquired Slades Ferry Bank.
In 2009, Rockland Trust acquired Benjamin Franklin Bank, adding 11 new branches and expanding into Boston's MetroWest area.