Independent Bank-backed Rockland Trust completed the acquisition of East Boston Savings Bank from Meridian Bank for $1.15bn.

Independent Bank-backed Rockland Trust, a full service community bank, completed the acquisition of East Boston Savings Bank, a chartered stock savings bank, from Meridian Bank, a community bank, for $1.15bn. “We heartily welcome the customers of East Boston Savings Bank to Rockland Trust, and we look forward to demonstrating our shared commitment to the highest standards of customer service. We remain excited about the strategic benefits of this transaction and are eager to get started unlocking the opportunities resulting from the combination of two leading franchises and increased scale, including expansion of Rockland’s broad financial product set to an expanded business and consumer customer base,” Christopher Oddleifson, Independent Bank CEO.