Last $36.24 USD
Change Today -0.21 / -0.58%
Volume 5.0K
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As of 10:54 AM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

288 Union Street

Rockland, MA 02370

United States

Phone: 781-878-6100

Fax:

Independent Bank Corp. operates as the holding company for Rockland Trust Company that provides a range of banking services. The company operates 74 full service and 3 limited service retail branches, 10 commercial banking centers, 4 investment management offices, and 3 mortgage lending centers, all of which are located in Eastern Massachusetts, including Cape Cod, with the exception of an investment management group/commercial lending office located in Rhode Island. The company's 77 branch locations are supplemented by the bank’s 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 the bank’s full-service offices and 6 additional remote ATM locations. As of December 31, 2012, the company had various subsidiaries, all of which were wholly-owned by the bank, such as five Massachusetts security corporations, including Rockland Borrowing Collateral Securities Corp., Rockland Deposit Collateral Securities Corp., Taunton Avenue Securities Corp., and former Central Bancorp, Inc. subsidiaries, such as Central Securities Corporation and Central Securities Corporation II, which hold securities, industrial development bonds, and other qualifying assets; Rockland Trust Community Development Corporation, which has two wholly-owned subsidiaries, such as Rockland Trust Community Development LLC and Rockland Trust Community Development Corporation II, and which also serves as the manager of two Limited Liability Company subsidiaries wholly-owned by the bank, such as Rockland Trust Community Development III LLC and Rockland Trust Community Development IV LLC, all of which were all formed to qualify as community development entities under federal New Markets Tax Credit Program criteria; Rockland MHEF Fund LLC, a Delaware limited liability company, was established as a wholly-owned subsidiary of the bank; 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; and Rockland Trust Phoenix LLC and Metro Real Estate Holdings, LLC (a former Central Bank subsidiary), which were formed for the purpose of holding, maintaining, and disposing of foreclosed properties. Lending Activities The bank 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. The bank’s borrowers consist of small-to-medium sized businesses and consumers. 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 bank offers secured and unsecured commercial loans for business purposes. Commercial loans might be structured as term loans or as revolving or nonrevolving lines of credit, including overdraft protection, credit cards, automatic clearinghouse exposure, and owner and nonowner-occupied commercial mortgages, as well as issuing standby letters of credit. The bank’s commercial real estate portfolio includes commercial construction. This portfolio is diversified with loans secured by various property types, such as owner-occupied and nonowner-occupied commercial, retail, office, industrial, warehouse, industrial development bonds, and other special purpose properties, such as hotels, motels, nursing homes, restaurants, churches, recreational facilities, marinas, and golf courses. Commercial real estate also includes loans secured by certain residential-related property types, including multi-family apartment buildings, residential development tracts, and condominiums. Consumer Real Estate Loans: The bank’s consumer real estate loans consist of loans and lines secured by one-to-four family residential properties. The bank originates both fixed-rate and adjustable-rate residential real estate loans. The b

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