ROCKLAND, Mass. – Rockland Trust, a community savings bank with more than 70 locations in southeastern Massachusetts, opened a commercial lending and wealth management office in Providence on Wednesday.
Its parent company, Independent Bank Corp., said it aims to double its lending commitment to Rhode Island businesses in the next three to five years.
The Providence office is located at the GTECH Corp. Center, 10 Memorial Boulevard; it has a nine-person team.
It is Rockland Trust's first location in Rhode Island; Independent, however, bought an investment management office in Lincoln in 2009 and has incorporated that team into the Providence office.
Independent’s current Ocean State portfolio represents more than $220 million in financing and $454 million in assets.
“We are excited to expand our already substantial commitment to the Rhode Island business community by opening an office in the GTECH Center,” said CEO Christopher Oddleifson.
“We have assembled a team of local market experts to further extend our unique brand of commercial lending on a local basis in Rhode Island, which combines the customer-centric focus Rockland Trust is known for with the capabilities and expertise of a global financial institution,” he said.
Rockland Trust has branches in Bristol County, Mass., in Attleboro, Fall River, New Bedford, North Attleboro and Seekonk.