Independent Bank - M&A Summary and Business Overview

Financial ServicesCompany

Independent Bank M&A Summary

Independent Bank has acquired 13 companies. It has also divested 1 asset.

Independent Bank’s largest acquisition to date was in 2018, when it acquired The Milford National Bank and Trust for $275M. Independent Bank has acquired in 4 different US states. The Company’s most targeted sectors include financial services (100%).

Independent Bank Business Overview

Where is Independent Bank headquartered?

Independent Bank is headquartered in Rockland, Massachusetts.

What is Independent Bank’s revenue?

Independent Bank disclosed revenue of 722M USD for 2023 and 720M USD for 2022.

How many employees does Independent Bank have?

Independent Bank has 1,787 employees.

What sector is Independent Bank in?

Independent Bank is a financial services company.

When was Independent Bank founded?

Independent Bank was founded in 1907.

M&A Summary

  • M&A Total Activity14
    • M&A Buy Activity13
    • M&A Sell Activity1
  • Total Sectors Invested 1
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 2
  • M&A Advisors 11

Independent Bank

Independent Bank Corp.

288 Union Street,
Rockland, Massachusetts 02370
United States,
(781) 878-6100
www.rocklandtrust.com

Independent Bank 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 in the United States. The company provides interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit. Independent Bank was founded in 1907 and is based in Rockland, Massachusetts.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 13 - - - - - 13
vol $859M $859M
Sell (0.0/yr) # 1 - - - - - 1
  14

Most Recent M&A

Company Date Value Type
The Milford National Bank and Trust Co. (MNB Bancorp) 2018-11-16 275M USD Add-on Acquisition
Milford, Massachusetts · www.milfordnationalonline.com
Blue Hills Bancorp, Inc. 2018-09-20 - Merger
Hyde Park, Massachusetts · www.bluehillsbancorp.com
TCSB Bancorp, Inc. 2017-12-04 63M USD Add-on Acquisition
Traverse City, Michigan · www.tcstatebank.com
Island Bancorp, Inc. 2017-05-12 - Divestiture
Edgartown, Massachusetts
New England Bancorp, Inc. 2016-03-17 31M USD Add-on Acquisition
Hyannis, Massachusetts · www.bankofcapecod.com
Peoples Federal Bancshares, Inc. 2015-02-20 131M USD Merger
Brighton, Massachusetts · www.pfsb.com
Mayflower Bancorp, Inc. 2013-11-15 37M USD Add-on Acquisition
Middleboro,, Massachusetts · www.mayflowerbank.com
Central Bancorp Inc. 2012-11-09 55M USD Add-on Acquisition
Somerville, Massachusetts
Benjamin Franklin Bancorp Inc. 2009-04-10 125M USD Add-on Acquisition
Franklin, Massachusetts
Slades Ferry Bancorp. 2008-02-29 105M USD Add-on Acquisition
Somerset, Massachusetts
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 13 (100%) 859M (100%) 1 (100%) -
Total 13 $859M 1 -

By Geo

State/Country Buy Value Sell Value
United States 13 859M 1 -
  Massachusetts 10 795M - -
  Illinois 1 - 1 -
  Michigan 1 63M - -
Total 13 $859M 1 -

Top M&A Advisors

Financial Deals
Sandler O'Neill + Partners LP
 2
Keefe, Bruyette, & Woods, Inc.
 2
Robert W. Baird & Co., Inc.
 2
Legal Deals
Choate Hall & Stewart
 3
Day Pitney
 3
Foley Hoag
 1

Deal Values

buy # Total
$100M to $1B 4 $636M
< $100M 5 $223M
TOTAL $859M
Largest The Milford National Bank and Trust Co. (MNB Bancorp)
$275M (2018-11-16)

M&A Connections

Deals
Acquired from
Strategic(s)
8%
1 (8%)
Divested to
Strategic(s)
100%
1 (100%)

Company Summary

SECTOR

Financial Services

Revenue

722   1% 2023
720   44% 2022
502   7% 2021
473   6% 2020
503   32% 2019
383   14% 2018
338   10% 2017
310   2016
(millions of USD) Show More Show Less

Employees

1,787

Established

1907

Public

NASDAQ: INDB

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