The acquisition of Benjamin Franklin Bancorp, parent company of Benjamin Franklin Bank, by Rockland’s Independent Bank Corp, parent of Rockland Trust Co., was completed over the weekend. Three former Ben Franklin directors were named to the Rockland Trust board as part of the agreement.

Following receipt of regulatory approvals, Benjamin Franklin Bank will be merged into Rockland Trust in early May.

Former Ben Franklin Directors William P. Bissonnette, Daniel F. O’Brien and Thomas R. Venables were appointed to the Independent board of directors. Bissonnette, O’Brien, and Venables were also appointed to the Rockland Trust board of directors.

The transaction is intended to qualify as a tax-free reorganization for federal income tax purposes, and former Benjamin Franklin Bancorp shareholders will receive 0.59 shares of Independent common stock for each share of Benjamin Franklin Bancorp common stock which they own, the company said in a statement.

Based upon Independent’s $18.27 per share closing price on April 9, the transaction is valued at $10.7793 per share of Benjamin Franklin Bancorp common stock or approximately $84.5 million in the aggregate, the bank said.

Bissonnette is a certified public accountant and a partner in the Holliston firm of Little & Bissonnette, CPAs.

O’Brien is a certified public accountant and a partner in the Westwood firm of O’Brien, Riley and Ryan, P.C. O’Brien is also the manager of State Street Wealthcare Advisors, LLC, a financial services company. He is also a practicing attorney.

Venables has served as the president and chief executive officer of Benjamin Franklin Bancorp and Benjamin Franklin Bank since 2002. Prior to 2002, Venables co-founded Lighthouse Bank of Waltham in 1999 and served as its president and chief executive officer.