2/26/2014 3:43:00 PM by Rockland Trust Branch & Commercial Lending Center
ROCKLAND, Mass. (January 10, 2014) - Independent Bank Corp., the parent company of Rockland Trust Company, has been recognized as one of America's Best Banks and was the highest ranked community bank headquartered in Massachusetts on Forbes' list of America's Best and Worst Banks 2014. The bank ranked 32nd nationwide this year in financial health among publically traded banks and thrifts. This is the fourth consecutive year Rockland Trust has made the list of country's healthiest banks.
"We are honored to be recognized by Forbes on their list of America's Best Banks in 2014," said Chris Oddleifson, President and CEO of Rockland Trust. "In this New Year, we invite individuals and businesses to bank with Rockland Trust. We want to serve the financial needs of those within our community and help households and entities thrive in 2014 and beyond."
Forbes, an American publishing and media company and the owner of Forbes Magazine, ranked the 100 largest publically traded banks and thrifts on nine metrics of financial health: return on average equity, net interest margin, nonperforming loans as a percentage of loans, nonperforming assets as a percentage of assets, reserves as a percentage of nonperforming loans, three capital ratios (Tier 1, risk-based, and leverage) and revenue growth. All data is based on filings through the third quarter of 2013 and was provided by Charlottesville, VA-based financial data provider SNL Financial, with the exception of revenue growth.
In addition to the Forbes ranking, Rockland Trust has been recognized as an industry leader throughout 2013. Other accolades include: voted the Top Commercial Lender in Banker and Tradesman's Best of Readers Poll; ranked top SBA Lender in Massachusetts for 504 and Veterans Loans; named to the Boston Globe's list of 100 top-performing public companies for the eighth consecutive year; and recognized by the Boston Globe as one of the Top Places to Work for a fifth Consecutive Year.