April 12, 2023 – Hanover, MA – Independent Bank Corp., bank holding company of Rockland Trust Co., is honored to announce that it has been ranked #5 in S&P Global Market Intelligence’s list of 2022 Top 50 Public Banks. The banks that appeared on this list were ranked on growth, profitability and overall safety and soundness. Independent Bank Corp. is the top New England-based bank to make the list and the only Massachusetts-based bank to rank in the top 20.
“This recognition underlines the strong performance year we had in 2022 as a result of our colleagues’ unwavering dedication to our customers, communities, and shareholders,” said Mark Ruggiero, Chief Financial Officer and Executive Vice President of Consumer Lending at Rockland Trust. “This ranking reaffirms our disciplined strategy of focusing on true relationship banking to build long-term and sustainable value.”
Companies were ranked based on three major categories, using calendar-year data as well as GAAP data unless otherwise noted: growth, weighted at 35%; profitability, weighted at 35%; and safety and soundness, weighted at 30%. For more information about the full rankings and criteria please click here.
About INDB and Rockland Trust
Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. Rockland Trust was named to The Boston Globe's "Top Places to Work" 2022 list, an honor earned for the 14th consecutive year. Rockland Trust has a longstanding commitment to equity and inclusion. This commitment is underscored by initiatives such as Diversity and Inclusion leadership training, a colleague Allyship mentoring program, and numerous Employee Resource Groups focused on providing colleague support and education, reinforcing a culture of mutual respect and advancing professional development, and Rockland Trust's sponsorship of diverse community organizations through charitable giving and employee-based volunteerism. In addition, Rockland Trust is deeply committed to the communities it serves, as reflected in the overall "Outstanding" rating in its most recent Community Reinvestment Act performance evaluation. Rockland Trust offers a wide range of banking, investment, and insurance services. The Bank serves businesses and individuals through over 120 retail branches, commercial and residential lending centers, and investment management offices located throughout Eastern Massachusetts as well as in Worcester County and Rhode Island. Rockland Trust also offers a full suite of mobile, online, and telephone banking services. Rockland Trust is an FDIC member and an Equal Housing Lender.
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Source: Rockland Trust Company