One Technology Place in Rockland. Photo Courtesy of Rockland Trust
While Rockland Trust is planning to move to a new, larger corporate headquarters at the same time it’s seeking approval to buy Enterprise Bank, the bank says it will be maintaining an office in Lowell after the merger.
Rockland Trust will be moving its corporate headquarters to 1 Technology Place in Rockland in 2026. Rockland Trust is taking 140,000 square feet of the building, which is approximately 200,000 square feet, sits on a 22-acre campus. The building features several on-site amenities, including a full-service cafeteria, an outside patio area, a fitness center/yoga studio with showers, electric vehicle charging stations and an extensive walking trail network, the bank said.
The bank said it expects approximately 500 workers to be based in the new headquarters location, which will be 40,000 square feet bigger than the five South Shore offices it’s replacing.
“Our people are our greatest asset, and this new headquarters is an investment in them,” CEO Jeffrey Tengel said in a statement. “This move is about strengthening the way we work together. By bringing teams into one central location, we are creating new opportunities to collaborate, deepen colleague relationships, and ensure we continue to deliver the exceptional service our customers, colleagues and communities expect.”
The acquisition of Lowell-based Enterprise Bank is expected to close later this year. In response to a question about whether these employees will be relocated to the new headquarters, Tengel said that Rockland Trust will maintain a presence in Lowell.
“Rockland Trust will maintain an office presence in Lowell, the current location of Enterprise’s corporate headquarters,” he said in a statement. “The Bank maintains other office locations throughout the footprint. This headquarters is bringing together offices that currently exist on the South Shore.”
Despite having very little overlap in their respective branch networks, Rockland Trust told investors when the merger with Enterprise was announced that it hoped to save about 30% of the latter’s annual operating expenses once the two organizations are combined.
