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Independent Bank Corp., Hanover to acquire Peoples Federal Bancshares, Inc., Brighton

Tuesday, December 2, 2014
10 a.m. - 12 p.m.

Address

1000 Washington Street, Hearing Room 1-E, 1st Floor, Boston, MA 02118

Overview

The Commonwealth of Massachusetts Board of Bank Incorporation and the Division of Banks

Independent Bank Corp. (Petitioner), Hanover, Massachusetts, has petitioned the Board of Bank Incorporation (Board) pursuant to Massachusetts General Laws, chapter 167A, sections 2 and 4 for approval to acquire Peoples Federal Bancshares, Inc. (Bancshares), Brighton, Massachusetts in a multi-step transaction.  Bancshares is the holding company for Peoples Federal Savings Bank, (Peoples Federal), Brighton, Massachusetts.  The Petitioner is the holding company for Rockland Trust Company (Rockland Trust), Rockland, Massachusetts.  An application has also been filed with the Division of Banks for approval of the subsequent merger of Peoples Federal with and into Rockland Trust.

In determining whether or not to approve the petition, the Board and Division must decide whether competition among banking institutions will be unreasonably affected and whether public convenience and advantage will be promoted by this proposal.  A public hearing will be given to all interested parties on the petition before the Board on Tuesday, December 2, 2014 at 10:00 a.m., in Hearing Room 1E, First Floor, 1000 Washington Street, Boston, Massachusetts.  

All comments concerning this petition, however, must be filed with the Board or the Division by the close of business on Thursday, December 11, 2014 at the following address.  The applications and all communications relative to these matters are available for public inspection at the Division at 1000 Washington Street, 10th Floor, Boston, MA 02118-6400.

Board of Bank Incorporation

David J. Cotney
______________________
Commissioner of Banks


Steven Grossman
______________________
Treasurer and Receiver-General


Amy Pitter
______________________
Commissioner of Revenue
 

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Written commends accepted until December 11, 2014.

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