ADDED
and international trade policies, such as tariffs or other factors, the impact of U.S.
At December 31, 2025, the Company had total assets of $24.9 billion, total deposits of $20.1 billion, and stockholders equity of $3.6 billion.
On July 1, 2025, the Company completed the acquisition of Enterprise Bancorp, Inc.
For each share of Enterprise common stock, Enterprise stockholders had the right to receive 0.60 shares of the Company s common stock and $2.00 in cash, with cash paid in lieu of fractional shares.
Total consideration was $503.1 million and consisted of $477.2 million of equity (7,478,906 shares) of the Company s common stock, plus $25.9 million in cash, including cash paid for stock option cancellations and fractional shares.
The transaction qualified as a tax-free reorganization for federal income tax purposes and provided a tax-free exchange for Enterprise stockholders for the portion of the transaction consideration consisting of the Company s common stock.
The Bank s primary footprint for branch presence and deposit gathering is comprised of Eastern Massachusetts, Worcester County, and southern New Hampshire.
Lending Activities The Bank s gross loan portfolio (loans before allowance for credit losses) amounted to $18.5 billion on December 31, 2025, or 74.3% of total assets.
The Bank s largest relationship as of December 31, 2025 consisted of 56 loans with an aggregate exposure of $168.8 million.
It is the Bank s general practice to obtain personal guarantees from the principals of the borrower on commercial real estate loans, when appropriate.
REMOVED
At December 31, 2024, the Company had total assets of $19.4 billion, total deposits of $15.3 billion, and stockholders equity of $3.0 billion.
The Bank s primary footprint for branch presence and deposit gathering is generally comprised of Eastern Massachusetts and Worcester County.
Lending Activities The Bank s gross loan portfolio (loans before allowance for credit losses) amounted to $14.5 billion on December 31, 2024, or 74.9% of total assets.
The Bank s largest relationship as of December 31, 2024 consisted of 11 loans with an aggregate exposure of $157.8 million.
It is the Bank s general practice to obtain personal guarantees from the principals of the borrower on commercial real estate loans.
The following pie chart shows the diversification of the commercial real estate portfolio as of December 31, 2024: * Inclusive of commercial construction balances Select Statistics Regarding the Commercial Real Estate Portfolio (Dollars in thousands) Average loan size $ 1,939 Largest individual commercial real estate mortgage outstanding $ 60,609 Commercial real estate nonperforming loans/commercial real estate loans 0.99 % Commercial and industrial loans consist of both term loans and revolving or non-revolving lines of credit.
In order to protect the properties securing its residential and other real estate loans, the Bank requires title insurance protecting the priority of its mortgage lien, as well as fire, extended casualty, and flood insurance, when necessary.
Independent appraisers assess properties securing all of the Bank s first mortgage real estate loans, as required by regulatory standards.
The consumer real estate loan portfolio at December 31, 2024 was as follows: Select Statistics Regarding the Consumer Portfolio (Dollars in thousands) Average loan size $ 116 Largest individual consumer loan outstanding $ 5,290 Consumer nonperforming loans/consumer loans 0.35 % Sources of Funds The Bank s primary sources of funds are derived from deposits and to a lesser extent, borrowings as well as the amortization, prepayment, and maturities of loans and securities.
Rockland Trust s 123 branch locations feature expanded use of video-tellers, and are supplemented by internet and mobile banking services as well as automated teller machine ( ATM ) cards and debit cards which may be used to conduct various banking transactions at ATMs maintained at each of the Bank s full-service offices and 55 additional remote ATM locations.