Independent Bank Corp., Rockland, Massachusetts - permission to acquire Central Bancorp. Inc., Somerville, Massachusetts
Overview of Independent Bank Corp., Rockland, Massachusetts - permission to acquire Central Bancorp. Inc., Somerville, Massachusetts
Independent Bank Corporation (Petitioner), Rockland, Massachusetts, has petitioned the Board of Bank Incorporation (Board) pursuant to Massachusetts General Laws, chapter 167A, sections 2 and 4 for approval to acquire Central Bancorp, Inc. (Central), Somerville, Massachusetts in a multi-step transaction. Central is the holding company for Central Co-operative Bank (Central Bank), Somerville, 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 Central Bank 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 Monday, September 10, 2012 at 11:00 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 Wednesday, September 19, 2012 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
David J. Cotney
Commissioner of Banks
Commissioner of Revenue
Treasurer and Receiver-General