Rockland Trust

Rockland Trust will close at least three branches as part of its acquisition of Blue Hills Bank.

Two will be Rockland Trust branches in West Roxbury and Westwood, while one will be a Blue Hills Bank branch in Norwood, according to a recent activity report from the Massachusetts Division of Banks.

The news is not a big surprise considering Rockland and Blue Hills had branches nearby in West Roxbury and Westwood. The news is also just the latest in cost savings as Rockland continues to work through the deal.

Recently, the bank disclosed that it would cut 80 people from Blue Hills because it already had employees doing those jobs and did not need duplicates.

The parent company of Rockland Trust announced in September that it would acquire the parent company of Blue Hills Bank for nearly $730 million. The new entity will have the largest deposit share in Massachusetts, the largest branch network and bring the company to over $11 billion in assets.

The deal is expected to close sometime in the first half of the year and it is unclear whether additional branch closings might be made.

 

Rockland Trust to Consolidate Three Branches as Result of Blue Hill Deal

by Bram Berkowitz time to read: 1 min
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