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Rockland Trust strikes $54m deal for bank

Will expand footprint north, west of Boston

By Todd Wallack
Globe Staff / May 2, 2012
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Rockland Trust, the largest community bank based south of Boston, is accelerating its expansion north and west of Boston. The parent of Rockland Trust Co., Independent Bank Corp. of Rockland, announced Tuesday that it would buy the parent of Central Bank in Somerville, Central Bancorp, for $54.8 million, more than tripling its presence in Middlesex County. The deal, expected to close by the end of the year, will give Rockland Trust nine additional branches in Middlesex County in addition to the four it already has.

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