The parent company of Rockland Trust has just officially surpassed $11 billion in assets, but it is already thinking about taking the next step.

Rockland’s President and CEO Chris Oddleifson said on a recent earnings call that he envisions the bank growing to $15 billion to $20 billion in assets. He added, however, that while he would like to grow the bank in asset size, he does not envision expanding the bank’s geography at this time and would like to stay east of Worcester.

“We think that focused geographical concentration comes with a lot of positives in terms of managing and focusing the bank,” said Oddleifson. “In terms of the market size, I mean, what we historically have said is that we really like the market [east of] Worcester…. So, going through Southern New Hampshire, going through Providence, Rhode Island and that’s sort of our focus area.”

Rockland has completed a number of moves in the past quarter to solidify and build upon this market.

The bank most importantly closed on its acquisition of Blue Hills Bank’s parent company, giving the company an additional $2.5 billion in assets as well as more branches and therefore a stronger presence in Boston and the Cape and Islands.

Notably, the $2.5 billion in assets from Blue Hills is less than the $2.8 billion the company reported having at the end of 2018. Rockland COO Rob Cozzone said the bank sold approximately $115 million in securities and $250 million in residential loans from Blue Hills’ balance sheet. Webster Bank on its first quarter earnings call reported purchasing a $242 million residential loan portfolio in eastern Massachusetts, but never identified who it purchased the loan book from.

Cozzone said there is still some heavy lifting remaining on the acquisition for the systems conversion, but that preparation is well underway.

He also said the bank continues to keep a close eye on the integration of Milford National Bank, which closed last November. Rockland has been able to retain more Milford customers than anticipated, and the Milford acquisition is continuing the bank’s gradual expansion into Worcester. The bank recently opened a combined loan production and investment management office in the city.

As for whether another acquisition could be in play, Oddleifson said the bank is always keeping its ear to the ground for any and all opportunities.

“If something comes along that’s small, let’s say, $250 million for example, I mean we take a look at it and if it’s in a market that we want to be in, if it’s adjacent or within our markets, I don’t think that would be too small,” he said. “We are in a position that we will be thoughtful and take a look at opportunities.”

In the first quarter of 2019, Rockland Trust’s parent company, Independent Bank Corp., reported net income of $35.2 million, or $1.25 per diluted share, compared to net income of $29.9 million, or $1.07 per diluted share, reported in the fourth quarter of 2018.

Net interest income for the quarter was more than $82.5 million, up $14 million for the first quarter of 2018. The margin reached 4.14 percent, up 37 basis points from last year.

Not including the acquisition of Blue Hills, total assets grew more than $900 million year-over-year and total loans grew more than $600 million, led by commercial growth, specifically commercial and industrial loans. Non-interest income was $21.5 million for the quarter, up about $1.7 million from the first quarter of 2018.

The provision for loan losses in the quarter was $1 million, double what it was in the first quarter of 2018, and the ratio of non-performing assets as a percentage of total assets was .48 percent, down 11 basis points year-over-year.