Simpson Thacher is representing Independent Bank Corp., parent of Rockland Trust Company (“Rockland Trust”) in connection with its proposed acquisition of Enterprise Bancorp, Inc., parent of Enterprise Bank and Trust Company (“Enterprise Bank”), in a cash and stock transaction valued at approximately $562 million.
Enterprise Bank was founded in 1989 in Lowell, MA and conducts its business from 27 full-service branches in Massachusetts and New Hampshire. As of September 30, 2024, Enterprise Bank had $4.7 billion in total assets, $3.8 billion in net loans, $4.2 billion in deposits and $1.5 billion in wealth assets under management and administration.
Rockland Trust is a full-service commercial bank headquartered in Massachusetts. Following the merger, Rockland Trust will have approximately $25 billion in assets and $8.7 billion in wealth assets under administration.
The Simpson Thacher team includes Lee Meyerson, Louis Argentieri, Michael Lazris and Jack Johanning (M&A); Amanda Allexon and Joseph Pucciarelli (Bank Regulatory); Jeannine McSweeney, Alan Fenyes, Joshua Stephens and Abigail Janik (Executive Compensation and Employee Benefits); and Jonathan Goldstein, Lina Pan and Qian Eva Gao (Tax).