On April 22, 2021, Meridian Bancorp, Inc., Peabody, Massachusetts, announced the signing of a definitive merger agreement with Independent Bank Corp., Rockland, Massachusetts, pursuant to which Meridian will merge with and into Independent. Meridian shareholders will receive 0.275 of a share of Independent common stock for each share of Meridian common stock. The total merger consideration is valued at approximately $1.2 billion.
Meridian is the holding company for East Boston Savings Bank, which operates 43 branches in the greater Boston metropolitan area.
Independent is the holding company for Rockland Trust Company, which operates 100 retail branches, lending centers and investment management offices in eastern Massachusetts and Rhode Island.
Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past five years and more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.