East Boston Savings Bank

Independent Bank Corp. Reports Fourth Quarter Net Income of $54.8 Million

Retrieved on: 
Thursday, January 18, 2024
Banking, Professional Services, Finance, FDIC, Internet, Total, Credit, Federal Deposit Insurance Corporation, Insurance, Share repurchase, Rockland Trust, Sale, GAAP, East Boston Savings Bank, Federal Home Loan Banks, Acquisition, Conference, Net income, Cryptocurrency

Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2023 fourth quarter net income of $54.8 million, or $1.26 per diluted share, a decrease of $6.0 million, or 9.9%, compared to the prior quarter.

Key Points: 
  • Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2023 fourth quarter net income of $54.8 million, or $1.26 per diluted share, a decrease of $6.0 million, or 9.9%, compared to the prior quarter.
  • Please refer to "Reconciliation of Net Income (GAAP) to Operating Net Income (Non-GAAP)" below for a reconciliation of net income to operating net income.
  • Noninterest income of $32.1 million for the fourth quarter of 2023 represented a decrease of $1.5 million, or 4.4%, as compared to the prior quarter.
  • Noninterest expense of $100.7 million for the fourth quarter of 2023 represented an increase of $3.0 million, or 3.0%, as compared to the prior quarter.

Independent Bank Corp. Reports Fourth Quarter Net Income of $77.0 Million

Retrieved on: 
Thursday, January 19, 2023
Banking, Professional Services, Finance, Net income, East Boston Savings Bank, Shotter v Westpac Banking Corp, PPP, Internet, GAAP, Environment, Total, Rockland Trust, Maintenance, Conference, Growth, Trust, Sale, Acquisition, Lethenteron appendix, Security (finance), Real estate, Life insurance, Bank, Video game, Commercial property, Meridian

Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2022 fourth quarter net income of $77.0 million, or $1.69 per diluted share, compared to 2022 third quarter net income of $71.9 million, or $1.57 per diluted share, driven primarily by continued net interest margin expansion combined with solid loan growth and higher fee income.

Key Points: 
  • Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2022 fourth quarter net income of $77.0 million, or $1.69 per diluted share, compared to 2022 third quarter net income of $71.9 million, or $1.57 per diluted share, driven primarily by continued net interest margin expansion combined with solid loan growth and higher fee income.
  • Please refer to "Reconciliation of Net Income (GAAP) to Operating Net Income (Non-GAAP)" below for a reconciliation of net income to operating net income.
  • Noninterest income of $32.3 million for the fourth quarter of 2022 was $4.1 million, or 14.6% higher as compared to the prior quarter.
  • Noninterest expense of $94.9 million for the fourth quarter of 2022 was $2.1 million, or 2.3%, higher as compared to the prior quarter.

Rockland Trust Launches Ad Campaign Highlighting Local Business Owners

Retrieved on: 
Monday, July 11, 2022
Partnership, Employee resource group, SBA, Greater Boston, Heat, Jones, Community Reinvestment Act, Rockland Trust, CEO, Hope, The Boston Globe, Sand, Education, Trust, Inclusion, Bank, FDIC, Dune Jewelry, HVAC, Culture, Community, New England Regional Art Museum, East Boston Savings Bank, Goal, Plumber, National Association of Affordable Housing Lenders, History, Television, Shotter v Westpac Banking Corp, GLOBE, Life, Diversity, Equal housing lender, Loan, Online gambling, Public relations, Security (finance)

ROCKLAND, Mass., July 11, 2022 (GLOBE NEWSWIRE) -- Today, Rockland Trust introduces a new advertising campaign highlighting the Bank's ability to provide credit, banking services, and advice to help business owners, of all sizes, achieve their goals.

Key Points: 
  • ROCKLAND, Mass., July 11, 2022 (GLOBE NEWSWIRE) -- Today, Rockland Trust introduces a new advertising campaign highlighting the Bank's ability to provide credit, banking services, and advice to help business owners, of all sizes, achieve their goals.
  • "What sets Rockland Trust apart from our competitors is the genuine and meaningful connections our colleagues build with the customers they serve," said Alastair Ironside, Chief Marking Officer at Rockland Trust.
  • Our hope is that business owners - and even aspiring business owners - are inspired to believe in their own ideas about what comes next and know that Rockland Trust is ready to believe in them too."
  • Today, seven decades later, Jimmie's sons and current owners, Kevin and Jay Jones, continue to grow their father's business with the help of Rockland Trust.

Bluejay Diagnostics Appoints Kenneth Fisher as Chief Financial Officer

Retrieved on: 
Thursday, March 24, 2022
Company, Biomarker, Isenberg School of Management, Form 10-K, NASDAQ, McLaughlin, CPAS, Emirates Institute for Banking and Financial Studies, Forward-looking statement, HIV disease progression rates, Patient, CFO, Savings bank, East Boston Savings Bank, LTAC, U.S. Securities and Exchange Commission, Treasurer, Security (finance), Health, Business administration, University of Massachusetts Medical School, Southern New England School of Law, Rockland Trust, Triage, GLOBE, CPA, IL-6, Certified Public Accountant, Accounting, Parent, University, Symphony, Pharmaceutical industry, Management, Hospital, Blue jay

ACTON, Mass., March 24, 2022 (GLOBE NEWSWIRE) -- Bluejay Diagnostics, Inc. (NASDAQ: BJDX) (Bluejay, the Company), a late-stage, pre-revenue diagnostics company focused on developing cost-effective, rapid, near-patient products for triage and monitoring of disease progression, today announced that Kenneth Fisher, CPA, has joined the Company as Chief Financial Officer (CFO), effective March 23, 2022.

Key Points: 
  • ACTON, Mass., March 24, 2022 (GLOBE NEWSWIRE) -- Bluejay Diagnostics, Inc. (NASDAQ: BJDX) (Bluejay, the Company), a late-stage, pre-revenue diagnostics company focused on developing cost-effective, rapid, near-patient products for triage and monitoring of disease progression, today announced that Kenneth Fisher, CPA, has joined the Company as Chief Financial Officer (CFO), effective March 23, 2022.
  • Mr. Fisher is an accomplished financial professional and Certified Public Accountant.
  • Kenneth Fisher, CFO of Bluejay Diagnostics, said, I am excited to join Bluejay at such a pivotal time for the Company.
  • Most recently, he was Executive Vice President, Chief Financial Officer and Treasurer of Meridian Bancorp, Inc. and its subsidiary, East Boston Savings Bank (merged with Rockland Trust in November 2021).

Rockland Trust Partners with ZSuite Technologies to Expand Digital Offerings in Preparation for Bank Acquisition

Retrieved on: 
Tuesday, December 14, 2021
Professional Services, Data Management, Technology, Finance, Software, Banking, Software as a service, Solution, East Boston Savings Bank, Rockland Trust, Insurance, Industry, FVP, CEO, Collection, Trust, Partnership, Compliance, EBSB, Cryptocurrency, Online shopping

ZSuite Technologies , a financial technology company that powers community financial institutions with digital escrow products for specific commercial verticals, has partnered with Rockland Trust Bank to offer its customers ZEscrow .

Key Points: 
  • ZSuite Technologies , a financial technology company that powers community financial institutions with digital escrow products for specific commercial verticals, has partnered with Rockland Trust Bank to offer its customers ZEscrow .
  • As a result, Rockland Trust required a solution to accommodate the master and subaccounts that would be onboarded upon the closing date.
  • Conventional escrow and sub-accounting are manual and extremely resource-intensive for everyone involved, said Karen DelPrete, FVP at Rockland Trust.
  • We are excited to partner with Rockland as they continue to grow by enhancing their digital offerings to include ZEscrow.

Independent Bank Corp. and Rockland Trust Complete Meridian Bancorp, Inc. and East Boston Savings Bank Acquisition

Retrieved on: 
Friday, November 12, 2021
Banking, Professional Services, Finance, Securities Exchange Act of 1934, Shotter v Westpac Banking Corp, FDIC, East Boston Savings Bank, The Boston Globe, Acquisition, Private Securities Litigation Reform Act, Culture, Education, Security (finance), Equal housing lender, Risk, Goal, COVID-19, Community, Securities Act of 1933, Greater Boston, Forward-looking statement, Annual report, Diversity, Employee resource group, Community Reinvestment Act, Bank, Federal Reserve Board of Governors, Inclusion, Keefe, Bruyette & Woods, Wachtell, Lipton, Rosen & Katz, U.S. Securities and Exchange Commission, LIBOR, SEC, Nature, National Association of Affordable Housing Lenders, Communication, Time, PC, Trust

Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced the closing of its acquisition of Meridian Bancorp, Inc., parent of East Boston Savings Bank, and Rockland Trusts acquisition of East Boston Savings Bank.

Key Points: 
  • Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced the closing of its acquisition of Meridian Bancorp, Inc., parent of East Boston Savings Bank, and Rockland Trusts acquisition of East Boston Savings Bank.
  • We heartily welcome the customers of East Boston Savings Bank to Rockland Trust, and we look forward to demonstrating our shared commitment to the highest standards of customer service.
  • The conversion of East Boston Savings Bank customer accounts to Rockland Trusts systems will occur during this coming weekend and be completed prior to branches opening for business on November 15, 2021.
  • Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts.

Independent Bank Corp. and Meridian Bancorp, Inc. Report Receipt of All Regulatory Approvals and Anticipated Closing Date

Retrieved on: 
Friday, November 5, 2021
Banking, Professional Services, Finance, Securities Exchange Act of 1934, Shotter v Westpac Banking Corp, FDIC, East Boston Savings Bank, The Boston Globe, Acquisition, Private Securities Litigation Reform Act, Culture, Education, Security (finance), Equal housing lender, Failure, Risk, Goal, COVID-19, Rockland Trust, Community, Securities Act of 1933, Forward-looking statement, Greater Boston, Annual report, Diversity, Employee resource group, Community Reinvestment Act, Bank, Federal Reserve Board of Governors, Inclusion, U.S. Securities and Exchange Commission, Nasdaq, LIBOR, SEC, Nature, Communication, Time, Trust, Independent Bank Corp. and Rockland Trust, Meridian Bancorp, Inc., INDEPENDENT BANK CORP. AND ROCKLAND TRUST, MERIDIAN BANCORP, INC.

The transaction is expected to be completed on November 12, 2021, subject to the satisfaction of the remaining customary closing conditions.

Key Points: 
  • The transaction is expected to be completed on November 12, 2021, subject to the satisfaction of the remaining customary closing conditions.
  • Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts.
  • Rockland Trust was named to The Boston Globe's "Top Places to Work" 2020 list, an honor earned for the 12th consecutive year.
  • In 2021, Rockland Trust was ranked the #1 Bank in Massachusetts according to Forbes World's Best Banks list for the second year in a row.

HarborOne Bank to acquire four former East Boston Savings Bank branch locations from Rockland Trust

Retrieved on: 
Thursday, September 23, 2021
Professional Services, Small Business, Legal, Finance, Banking, Accounting, East Boston Savings Bank, Partnership, Center for Economic Studies (U.S. Census Bureau), Solution, Sale, NASDAQ, Population growth, CEO, Acquisition, Rockland Trust, Savings bank, LLC, Massachusetts Avenue, Broad Street, Housing, Small business, Commonwealth, Harvard Street Historic District, Bank, Hilltop Holdings Inc., Century Bank, Cleveland Circle

HarborOne Bancorp, Inc. (the Company) (NASDAQ: HONE), the holding company of HarborOne Bank (the Bank), today announced that the Bank has agreed to acquire four former East Boston Savings Bank branches located in Brighton, Cambridge and Brookline, Massachusetts from Rockland Trust Company (Rockland Trust) further extending HarborOnes footprint in Greater Boston.

Key Points: 
  • HarborOne Bancorp, Inc. (the Company) (NASDAQ: HONE), the holding company of HarborOne Bank (the Bank), today announced that the Bank has agreed to acquire four former East Boston Savings Bank branches located in Brighton, Cambridge and Brookline, Massachusetts from Rockland Trust Company (Rockland Trust) further extending HarborOnes footprint in Greater Boston.
  • New HarborOne branch locations in Quincy and South Boston have opened over the last year.
  • The Bank has agreed to acquire the leases to the East Boston Savings Bank branches, along with the furniture, fixtures, and equipment.
  • HarborOne Bancorp, Inc. is the holding company for HarborOne Bank, a Massachusetts-chartered savings bank.

Meridian Bancorp, Inc. Announces Quarterly Dividend

Retrieved on: 
Tuesday, August 31, 2021
GLOBE, U.S. Securities and Exchange Commission, Private Securities Litigation Reform Act, Risk, NASDAQ, Security (finance), East Boston Savings Bank

BOSTON, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Meridian Bancorp, Inc. (the Company or Meridian) (NASDAQ: EBSB), the holding company for East Boston Savings Bank, today declared a quarterly cash dividend of $0.10 per common share, payable on October 5, 2021 to stockholders of record at the close of business on September 21, 2021.

Key Points: 
  • BOSTON, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Meridian Bancorp, Inc. (the Company or Meridian) (NASDAQ: EBSB), the holding company for East Boston Savings Bank, today declared a quarterly cash dividend of $0.10 per common share, payable on October 5, 2021 to stockholders of record at the close of business on September 21, 2021.
  • Meridian Bancorp, Inc. is the holding company for East Boston Savings Bank.
  • These statements are based upon the current beliefs and expectations of Meridian Bancorp, Inc.s management and are subject to significant risks and uncertainties.
  • Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, Meridian Bancorp, Inc.s actual results could differ materially from those discussed.

Independent Bank Corp. and Meridian Bancorp, Inc. Receive Shareholder Approval for Merger

Retrieved on: 
Thursday, August 5, 2021
Finance, Consulting, Banking, Professional Services, Other Professional Services, Employee resource group, Bank, Nature, Rockland Trust, Equal housing lender, U.S. Securities and Exchange Commission, Forward-looking statement, East Boston Savings Bank, Federal Deposit Insurance Corporation, Community, Shotter v Westpac Banking Corp, Risk, Inclusion, Annual report, Federal Reserve Board of Governors, Security (finance), Private Securities Litigation Reform Act, Diversity, Securities Act of 1933, Time, Nasdaq, Greater Boston, The Boston Globe, COVID-19, Securities Exchange Act of 1934, Community Reinvestment Act, Trust, Communication, Culture, SEC, Certification, Failure, Libor, Goal, Education, Independent Bank Corp., Meridian Bancorp, Inc., INDEPENDENT BANK CORP., MERIDIAN BANCORP, INC.

Independent Bank Corp. (NASDAQ Global Select Market: INDB) (Independent), parent of Rockland Trust Company, and Meridian Bancorp, Inc. (NASDAQ Global Select Market: EBSB) (Meridian), parent of East Boston Savings Bank, jointly announced that, at their respective special meetings of shareholders today, they each received the necessary shareholder approvals for the consummation of the merger pursuant to which Independent will acquire Meridian.

Key Points: 
  • Independent Bank Corp. (NASDAQ Global Select Market: INDB) (Independent), parent of Rockland Trust Company, and Meridian Bancorp, Inc. (NASDAQ Global Select Market: EBSB) (Meridian), parent of East Boston Savings Bank, jointly announced that, at their respective special meetings of shareholders today, they each received the necessary shareholder approvals for the consummation of the merger pursuant to which Independent will acquire Meridian.
  • Completion of the transaction remains subject to regulatory approval and the satisfaction of the other customary closing conditions set forth in the merger agreement.
  • Independent and Meridian currently anticipate completing the transaction in the fourth quarter of 2021.
  • Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts.