User:Pames/Sandbox

Rockland Trust Company


Rockland Trust Company is a commercial bank based in Rockland, Massachusetts that serves Southeastern Massachusetts and Cape Cod. Established in 1907 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., which is publicly traded on NASDAQ (INDB).) Rockland Trust is the largest publicly traded commercial bank headquartered in Massachusetts, with $3.2 billion in assets and over 900 employees, and a network of more than 60 retail branches. Corporate headquarters are in Hanover, Massachusetts.

On December 8, 1917, the bank opened a new Rockland Trust Company building at 288 Union Street, Rockland, and the bank’s corporate headquarters were housed in the Colonial Georgian structure until 2008. The building was added to the National Historic Register in 1989.

Historic highlights

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 Alvin T. Fuller, then Governor of Massachusetts, and Hingham Trust, a bank based closer to Hull. The petition was finally granted by the Massachusetts legislature.

In 1910, Rockland Trust began offering "Automobile Banking" — an innovative program that offered banking services to nearby towns (including Hull) from the window of a special adapted car. The program was so well received that it continued through 1955.

Recent acquisitions

1992 acquisition of Middleboro Trust Company

2000 acquisition of Sovereign branches

2004 acquisition of Falmouth Cooperative Bank 2008 acquisition of Slades Ferry Trust Company

Sources and External Links

http://www4.fdic.gov/IDASP/main_bankfind.asp (search Rockland Trust Company): includes documentation on date of founding, bank market share, and other current and historical data.

Yahoo bank profile: http://finance.yahoo.com/q/pr?s=INDB

Letter of Establishment: from Commonwealth of Massachusetts, Board of Bank Incorporation, dated April 27, 1910, establishing the bank. (On file at Rockland Trust Company – electronic copy available.)

http://www.nr.nps.gov/iwisapi/explorer.dll?IWS_SCHEMA=NRIS1&IWS_LOGIN=1&IWS_REPORT=100000044 National Register Information System, National Register of Historic Places. National Park Service.

Coverage of 100th anniversary: http://www.wickedlocal.com/rockland/archive/x1941732519

Official site: http://www.RocklandTrust.com

100th anniversary newsletter issue (PDF): http://dansmall.vo.llnwd.net/o1/RocklandTrust/RocklandTrust100.pdf

Categories Financial services company Bank Companies based in Massachusetts