Banker & Tradesman file photos

The proposed merger between Rockland Trust Co. and East Boston Savings Bank has passed another milestone after the deal was approved by the Federal Reserve Board.

The Fed said in its latest activity report that the merger was approved on Aug. 20. The parent companies of both banks earlier in August had received shareholder approval for the deal.

The banks had announced in April that Rockland Trust’s parent company, Independent Bank Corp. would acquire East Boston Savings Bank’s parent, Meridian Bancorp, in an all-stock deal valued at $1.15 billion.

The merger will see 18 Greater Boston branches close, including 16 East Boston Savings Bank branches.

The banks said earlier this month that they expect to complete the merger in the fourth quarter. The state-chartered banks have not yet received approval from the Massachusetts Division of Banks. The Division of Banks is accepting public comments on the proposed merger through Sept. 2, according to a recent public notice.

Another merger that was also announced in April between Greater Boston-based banks, Eastern Bank’s acquisition of Century Bank, is still awaiting regulatory approval.