Rockland Trust CEO Aiming for $15B to $20B in Assets East of Worcester
The parent company of Rockland Trust has just officially surpassed $11 billion in assets, but it is already thinking about taking the next step.
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 Trust will complete its merger of Milford National Bank and Trust and its parent within the next few days.
While much of the recent focus has been on Rockland Trust’s planned acquisition of Blue Hills Bank and its expansion in the Boston area, the company has also been busy building out its franchise in Worcester and Central Massachusetts.
The rate of consolidation in the banking industry has lately been a cause for concern, as fewer banks typically means reduced access to banking services and small business loans.
The parent company of Rockland Trust announced yesterday that it would acquire the parent company of Hyde Park-based Blue Hills Bank in a deal that will give Rockland the largest deposit share in Massachusetts, the largest branch network and bring the company over $11 billion in assets.