Private company

Rockland Trust

Logo: Public domain, via Wikimedia Commons3

Commercial bank in Massachusetts, U.S.

Rockland Trust is a commercial bank based in Rockland, Massachusetts that serves Southeastern Massachusetts, Coastal Massachusetts, Cape Cod, and Boston's MetroWest. Established in 1907 as Rockland Trust Company.2 From Wikipedia, CC BY-SA 4.0

Last updated Oct 19, 2026.

Overview

1907Founded1

Rockland Trust is a commercial bank based in Rockland, Massachusetts that serves Southeastern Massachusetts, Coastal Massachusetts, Cape Cod, and Boston's MetroWest. Established in 1907 as Rockland Trust Company. A wholly owned subsidiary of Independent Bank Corp., by October 2016, Rockland Trust had $7.5 billion in assets and employed around 1,000 people. By April 2022, Rockland Trust had $20 billion in assets and employed around 1,100 people.2

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Investment Advisory, Management and Administrative Service brought in 43% of the revenue Rockland Trust broke down this way in fiscal 2025.

  1. Investment Advisory, Management and Administrative Service$45.0M543%up 17% from 2024
  2. Deposit Account$32.1M530%up 21% from 2024
  3. Credit Card, Merchant Discount$14.0M513%up 12% from 2024
  4. Investment Advisory, Retail Investment and Insurance Service$5.1M55%up 14% from 2024
  5. ATM Charge$4.6M54%down 0% from 2024
  6. Credit Card Income$2.8M53%up 21% from 2024
  7. Merchant Processing$2.1M52%up 16% from 2024
Products and services by year
Products and services202320242025
Investment Advisory, Management and Administrative Service$34.6M$38.3M$45.0M
Deposit Account$23.5M$26.5M$32.1M
Credit Card, Merchant Discount$11.9M$12.5M$14.0M
Investment Advisory, Retail Investment and Insurance Service$5.6M$4.4M$5.1M
ATM Charge$4.2M$4.6M$4.6M
Credit Card Income$2.1M$2.3M$2.8M
Merchant Processing$1.7M$1.8M$2.1M

Financial statements

Net income6785$205.1M in 2025+6% since 2019
0$100.0M$200.0M$300.0M2019: $192.7M$192.7M20192020: $201.2M$201.2M2020+4%2021: $224.8M$224.8M2021+12%2022: $196.3M$196.3M2022−13%2023: $43.2M$43.2M2023−78%2024: $192.1M$192.1M2024+345%2025: $205.1M$205.1M2025+7%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Interest and fees on loans$922.2M$789.3M$730.0M
Interest Income, Securities, Operating, Taxable$79.3M$57.1M$60.3M
Non-taxable interest and dividends on securities$345.0K$6.0K$6.0K
Interest on loans held for sale$796.0K$712.0K$190.0K
Interest on federal funds sold and short-term investments$19.8M$5.7M$5.2M
Total interest and dividend income$1.0B$852.8M$795.7M
Interest on deposits$274.4M$247.0M$144.8M
Interest on borrowings$39.2M$44.1M$44.5M
Total interest expense$313.6M$291.0M$189.2M
Net interest income$708.8M$561.7M$606.5M
Provision for Loan and Lease Losses$65.5M$36.2M$23.2M
Net interest income after provision for credit losses$643.4M$525.5M$583.3M
Deposit account fees$32.1M$26.5M$23.5M
Interchange and ATM fees$21.0M$19.1M$18.1M
Investment Banking, Advisory, Brokerage, and Underwriting Fees and Commissions$50.0M$42.7M$40.2M
Fees and Commission Mortgage Banking$4.5M$4.1M$2.3M
Increase in cash surrender value of life insurance policies$9.4M$8.1M$7.9M
Gain Realized on Life Insurance Policies$2.0M$457.0K$2.3M
Derivative, Gain (Loss) on Derivative, Net$3.6M$2.1M$3.3M
Other non-interest income$26.0M$25.0M$27.0M
Total non-interest income$148.7M$128.0M$124.6M
Salaries and employee benefits$287.5M$233.7M$222.1M
Occupancy and equipment expenses$57.6M$52.1M$50.6M
Data processing & facilities management$11.2M$10.0M$9.9M
FDIC assessment$12.5M$10.9M$12.0M
Consulting expense$6.6M$7.1M$9.0M
Cost, Amortization$16.9M$5.9M$6.9M
Debit Card Expense$8.5M$6.6M$9.0M
Merger and acquisition expense$39.6M$1.9M
Software Maintenance$24.2M$18.2M$16.2M
Other non-interest expenses$65.2M$60.1M$57.2M
Total non-interest expenses$529.9M$406.4M$392.7M
Income before income taxes$262.2M$247.1M$315.1M
Income tax benefit$57.0M$55.0M$75.6M
Net Income$205.1M$192.1M$239.5M
Basic earnings per share (in dollars per share)$4.44$4.52$5.42
Diluted earnings per share (in dollars per share)$4.44$4.52$5.42
Weighted average common shares (basic) (in shares)46.2M shares42.5M shares44.2M shares
Common share equivalents (in shares)21.4K shares12.3K shares12.0K shares
Weighted average common shares (diluted) (in shares)46.2M shares42.5M shares44.2M shares
Cash dividends declared (in dollars per share)$2.36$2.28$2.20

Compare Rockland Trust with another company

The story

1907-2000

The Rockland Trust Company was organized in September 1907 in the Boston suburb of Rockland, Massachusetts. As of September 30, 1907, bank resources were recorded by the Massachusetts Bank Commissioner at $317,852.52, and by December 3, 1907, were at $484,907.48. By September 23, 1908, resources were at $553,430.25. By June 23, 1909, they were at $645,430.87. At the last election, Rockland Trust Company's executive committee chairman, Horace T. Fogg, was elected "almost without opposition" to the office of Treasurer of Plymouth County.

In 1910, Rockland Trust began offering "Automobile Banking" — an innovative program that offered banking services to nearby towns (including Hull, Massachusetts) from the window of a special adapted car. The program was well received and continued through 1955.

Rockland Trust's 1927 petition to open a branch in Hull, Massachusetts sparked a state-level debate on whether to allow "kangaroo banking," where banks opened branches in non-adjacent towns. The proposal was opposed by Alvan T. Fuller, then Governor of Massachusetts, and Hingham Trust, a bank based closer to Hull. The petition was finally granted by the Massachusetts legislature.

2001-2018

The bank instigated a "buying spree" of other financial companies in 2008, acquiring Slades Ferry Bank that year. In 2009, its acquisition of Benjamin Franklin Bank brought Rockland into the western suburbs of Boston for the first time. The Central Bank purchase in 2012 brought Rockland to have branches north of Boston. The bank was planning further expansion in 2012. In 2015, the bank was named the No. 1 largest company by the Boston Globe in its "2015 Top Places To Work" feature. In 2015, it was reported that Rockland Trust had secured its first branches in Boston, with the $131 million acquisition of Peoples Federal Savings Bank's holding company. Although Rockland already had a commercial lending and wealth management office in Boston, it had no retail locations prior, with 8 branches added to Rockland's 78 branch network. Between 2005 and October 2016, the bank grew to have 85 branches in eastern Massachusetts and Rhode Island, and acquired Slades Ferry Bancorp, Benjamin Franklin Bank, Central Bank, Mayflower Bank and Peoples Federal Savings Bank. The largest of those acquisitions was Benjamin Franklin, which had near $1 billion in assets.

By October 2016, Rockland Trust was wholly owned by Independent Bank Corp and had $7.5 billion in assets. It also employed around 1,000 people, and had a loan limit of

$100 million. That month, the company acquired the Bank of Cape Cod. It had plans to begin offering wealth management services through its wealth management division. On October 20, 2016, it was reported that Rockland Trust Company would acquire Edgartown National Bank, with the merger expected to be complete by May 2017. The transaction was valued at about $24.5 million, according to the Vineyard Gazette. After the merger was finalized, it was reported the name of the Edgartown National Bank would change to Rockland Trust.

In 2017, CEO Chris Oddleifson was quoted saying that they would consider acquiring banks with as much as $3 billion to $4 billion assets. At the time, Rockland Trust had about $7.7 billion in assets. As of February 2018, Chris Oddleifson was CEO of Rockland Trust.

2021

In April 2021 Rockland Trust Company announced its acquisition of East Boston Savings Bank for $1.15 billion. Following this acquisition Rockland Trust total assets were estimated at $20 billion.

From Wikipedia’s article on Rockland Trust, shared under CC BY-SA 4.0.4

Products and brands

The company continues to operate as a subsidiary of Independent Bank Corp, and remains based in Rockland, Massachusetts with branches in the state and Rhode Island. Corporate headquarters are in Hanover, Massachusetts. It has retail branches, commercial lending offices, investment management offices, and residential lending centers located in Eastern Massachusetts and Rhode Island. By October 2016, Rockland Trust employed around 1,000 people and had 85 branches.

Rockland Trust offers banking, investment, and insurance services to businesses and individuals.

From Wikipedia’s article on Rockland Trust, shared under CC BY-SA 4.0.4

Acquisitions

1992 - Middleboro Trust Company

2000 - Four Sovereign Bank branches

2004 - Falmouth Cooperative Bank

2008 - Slades Ferry Trust Company

Read the full text

2009 - Benjamin Franklin Bank

2012 - Central Bank

2013 - Mayflower Bank

2015 - People's Federal Savings Bank

2016 - New England Bancorp, Inc., parent of Bank of Cape Cod

2017 - Island Bancorp, Inc., parent of Edgartown National Bank

2018 - Milford National Bank and Trust Company

2019 - Blue Hills Bank

2021 - East Boston Savings Bank

From Wikipedia’s article on Rockland Trust, shared under CC BY-SA 4.0.4

Timeline

  1. 1907Founded Founded1

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.6,979,611$584.3M0.0%−162,714
Vanguard Portfolio Management LLC3,273,358$274.0M0.0%−31,755
State Street Corp2,645,824$223.2M0.0%+144,561
Dimensional Fund Advisors LP2,633,640$220.5M0.0%+63,714
Vanguard Capital Management LLC2,171,265$181.8M0.0%−29,580
Geode Capital Management, LLC1,440,396$120.6M0.0%+176,807
Rockland Trust Co1,427,951$119.5M4.7%−42,487
Alliancebernstein L.P.1,179,183$88.7M0.0%−276,659
Channing Capital Management, LLC953,435$79.8M1.8%+13,768
Nomura Asset Management International Inc.917,172$76.8M0.1%−4,566
Citadel Advisors LLC733,718$61.4M0.0%−251,719
Morgan Stanley714,013$59.8M0.0%+66,412
Reinhart Partners, Llc.657,871$55.1M1.3%+8,575
Verition Fund Management LLC627,376$52.5M0.4%−73,391
Norges Bank616,226$51.6M0.0%New
Charles Schwab Investment Management Inc592,448$49.6M0.0%−7,723
Northern Trust Corp556,997$46.6M0.0%+23,478
Bank Of America Corp /de/533,209$44.6M0.0%−59,456
BNP PARIBAS ASSET MANAGEMENT Holding S.A.531,514$44.5M0.0%−3,439
Goldman Sachs Group Inc500,477$41.9M0.0%−46,386
Bank of New York Mellon Corp492,923$41.3M0.0%+3,274
Silvercrest Asset Management Group LLC469,098$39.3M0.3%−36,576
Nfj Investment Group, LLC421,384$35.3M1.2%−30,365
Deprince Race & Zollo Inc379,723$31.8M0.5%−656,465
Manufacturers Life Insurance Company, The326,056$27.3M0.0%−825

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
May 29, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−4.6%Report
Nov 15, 2021Josh GottheimerDemocratic, HouseExchange$1,001 - $15,000Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).