Rockland Trust Expands Its Reach with Conversion of Newly Acquired Benjamin Franklin Bank Branches

Rockland Trust, one of the largest commercial banks headquartered in Massachusetts, acquired Benjamin Franklin in a move that unites two healthy, growing banks. With the acquisition, which adds close to $1 billion in assets, Rockland Trust now has 71 branches with approximately $4.6 billion in assets and over 1,000 employees. Established in 1907, the bank has steadily grown to become the seventh largest bank in Massachusetts.

According to Rockland Trust President and CEO Christopher Oddleifson, the acquisition of Benjamin Franklin supports Rockland Trust's goals of growing its consumer, business, and investment management relationships.

"This acquisition will combine the best capabilities of both organizations," said Oddleifson. "Benjamin Franklin Bank is an ideal extension of Rockland Trust because it brings our bank into new markets and adds 11 branches to our existing footprint. In addition, Benjamin Franklin employees are committed to customers, communities, and shareholders, much like Rockland Trust. We look forward to continuing our long-standing tradition of building relationships with customers and communities in this new territory."

Thomas Venables, president and CEO of Benjamin Franklin, will join Independent Bank Corp.'s Board of Directors. Two additional Benjamin Franklin directors, William Bissonnette and Daniel O'Brien, will also join the board.

Locations of New Branches

The new Rockland Trust branches will be located in Bellingham, Foxborough, Franklin (2), Medfield, Milford, Newtonville, Waltham (2), Watertown, and Wellesley Hills. In addition, Rockland Trust is part of the SUM Program, which offers customers access to more than 2,900 surcharge-free ATMs throughout the United States. Other than the change in the bank's name, Benjamin Franklin customers should notice little difference. All branch managers and bank employees who work directly with customers will remain in their positions.

"We are working very hard to ensure a seamless transition for our customers," said Oddleifson. "We look forward to offering a wider array of services to Benjamin Franklin's loyal customers and providing an unyielding focus on customer service."

Community Support

Rockland Trust has a long history of supporting a variety of non-profit organizations in the communities in which it operates. "We look forward to upholding this commitment in all of the new communities we'll now be serving," said Oddleifson.

When Rockland Trust opens the doors of their new branches on May 11, it will also kick off a canned food drive to benefit local food pantries. Members of the community are invited to drop off canned goods at all 11 branches for the food drive through June 30, 2009.

About Rockland Trust

Rockland Trust Company is a full-service community bank headquartered in Massachusetts, with approximately $4.6 billion in assets. The sole bank subsidiary of Independent Bank Corp. (Nasdaq: INDB), Rockland Trust provides a wide range of consumer, business, investment, and insurance products and services. Rockland Trust's network consists of 71 retail branches, 12 commercial lending centers, and three mortgage banking centers in Massachusetts; and four Investment Management Group offices located in Massachusetts and Rhode Island. To find out why Rockland Trust is the bank "Where Each Relationship Matters(R)", please visit www.RocklandTrust.com.

SOURCE: Rockland Trust Company

Rockland Trust Company 
Ralph Valente, 781-982-6636 
Ralph.valente@rocklandtrust.com