1. That the proposed merger will take effect only after a certificate signed by the presidents and employees or other duly authorized employees of each bank stating that each institution has complied with the provisions of Chapter 167I of the General Statutes of Massachusetts, Section 3, has been returned with my consent; Rockland Trust is a community-focused commercial bank headquartered in Massachusetts that has been serving consumers and businesses since 1907. Rockland Trust has a deep commitment to the communities it serves and takes great pride in providing exceptional customer service. As of December 2021, Rockland Trust had more than 120 branches, 20 commercial credit centers, 10 investment management offices, and 12 mortgage offices throughout Massachusetts, including Greater Boston, the South Shore, Cape Cod and the Islands, South Coast and Worcester County. We also participate in the IntraFi® Network Deposits℠ program (formerly known as CDARS). Participation in the IntraFi Network Deposits program gives customers access to FDIC insurance for deposits up to $50 million. Deposits with the East Boston Savings Bank were also insured by the FDIC up to a maximum of $250,000. If you had accounts with Rockland Trust and East Boston Savings Bank, you will continue to receive the same FDIC coverage under federal law as if your accounts were with separate banks for six months after the merger. If your total account balance exceeds $250,000 after six months, a deductible may not be covered by FDIC insurance. Certificates of Deposit will continue to receive separate FDIC insurance coverage until the earliest due date after the six-month period.

We offer retail and commercial banking, commercial lending, investment management, insurance, mortgages, home equity loans, and mobile and online banking. Rockland Trust is a leader in the field of commercial banking and has received gold from Banker & Tradesman for its “Best of Awards” in commercial loans and alternative/hard money loans, as well as money for real estate loans. In addition, Rockland Trust was ranked the #1 bank in Massachusetts on the forbes 2020 World`s Best Banks list. East Boston Savings Bank mailing address Boston is a place full of history; It makes sense that east Boston Savings Bank is part of this story. As a bank founded under one of the most important cities in the United States, it will always have your best interest at heart. Finally, pursuant to Chapter 167I, Section 3 of the General Laws of Massachusetts, the Rockland Trust authorizes Rockland Trust to maintain the remaining banking offices of the East Boston Savings Bank as branches of the Continuing Institution. When you become a rockland Trust customer, you get a wide range of banking options, such as: East Boston Savings Bank was founded in 1848 as Massachusetts Savings Bank and is Meridian`s only banking subsidiary. In addition to its headquarters, East Boston Savings Bank operates 42 branches in massachusetts counties of Suffolk, Norfolk, Middlesex and Essex.

As of June 30, 2021, East Boston Savings Bank had total assets of approximately $6.29 billion and total deposits of approximately $4.91 billion. East Boston Savings Bank offers a full range of products and services for personal and professional audits, deposits and loans. East Boston Savings Bank deposits are insured by the FDIC up to the permitted limits. Deposits that exceed the limits of the FDIC are insured by the Depositors` Insurance Fund. The Rockland Trust Company, Rockland, Massachusetts (Rockland Trust) has requested the Division of Banks (Division) to merge with East Boston Savings Bank, East Boston, Massachusetts, pursuant to the provisions of Massachusetts General Law Chapter 167I, Section 3. Under the terms of the April 22, 2021 agreement and merger plan, East Boston Savings Bank will merge with and into Rockland Trust (bank merger) under the charter, articles of association and name Rockland Trust Company (continuing institution). Rockland Trust`s principal office will remain the continued institution`s principal office upon completion of the proposed merger. As part of this multi-stage transaction, East Boston Savings Bank has also filed applications with the division to close sixteen branches of East Boston Savings Bank in Massachusetts, and Rockland Trust has filed applications for approval to close two branches in Massachusetts. Rockland Trust has also requested the division to maintain and operate twenty-six branches of east Boston Savings Bank that exist as branches of the Continuing Institution at the time of completion of the proposed bank merger. Rockland Trust is a strong, safe and well-capitalised bank. All deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to a maximum of $250,000.

Deposits you hold in different property categories, such as Community, Individual and Retirement Accounts, are insured separately up to a maximum of $250,000. This means, for example, that you have up to $250,000 in registered accounts and up to $250,000 in your share of joint accounts and you can still be fully insured. Documentation was provided to address the issue that competition between banks will not be unduly affected by the proposed transaction. In analyzing the impact of a proposed transaction on banking competition, the Department considers the guidelines used by federal agencies to review bank mergers, but does not rely exclusively. Essentially, these guidelines define relevant markets and measure concentration, which is considered an important indicator of competitiveness. The starting point for the federal analysis is the Herfindahl-Hirschman Index (HHI), an arithmetic measure of market concentration that summarizes the distribution of market share and the number of banks in the affected market into a single value.