Independent Bank Corp., parent of Rockland Trust Co., has completed the acquisition of Mayflower Bancorp Inc., parent of Mayflower Co-operative Bank, doing business as Mayflower Bank.

"We are pleased to welcome Mayflower Bank customers and colleagues to Rockland Trust," Christopher Oddleifson, CEO of Independent and Rockland Trust, said in a statement.

The legal closing took place on Friday, Nov. 15. Mayflower Bancorp Inc. is now merged with and into Independent, with Independent the surviving entity, and Mayflower Bank merged with and into Rockland Trust, with Rockland Trust the surviving entity.

The four former Mayflower Bank branches located at 30 South Main St. in Middleboro, 94 Court St. in Plymouth, 565 Rounseville Road in Rochester and 2420 Cranberry Highway in Wareham will open and immediately begin to operate as Rockland Trust locations. The four other former Mayflower Bank branches are being closed and consolidated into existing Rockland Trust locations. Independent anticipates that the transaction will, excluding one-time acquisition expenses, be immediately accretive.

Cash will be issued in lieu of fractional shares. Mayflower shareholders will receive 818,715 shares of Independent common stock in the aggregate and $10,867,899 in cash in the aggregate, an amount which does not include cash issued in lieu of fractional shares. Including the shares issued in connection with the acquisition, Independent now has 23,787,234 shares of common stock outstanding.