Independent Bank Corp. Announces Completion of MNB Bancorp Acquisition
Independent Bank Corp. (INDB)
Last independent bank corp. earnings: 4/23 04:10 pm
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US:NASDAQ Investor Relations:
independentbankgroup.gcs-web.com/investor-relations
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Source: Business Wire
ROCKLAND, Mass.--(BUSINESS WIRE)-- Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced the closing of its acquisition of MNB Bancorp, parent of The Milford National Bank and Trust Company. The legal closing occurred November 14, 2018, with an effective date of November 16, 2018, pursuant to which MNB Bancorp was merged with and into Independent, with Independent the surviving entity, and The Milford National Bank and Trust Company was merged with and into Rockland Trust, with Rockland Trust the surviving entity. Under the merger terms, each share of MNB Bancorp common stock was converted into the right to receive either (i) $275.00 in cash or (ii) 3.55 shares of Independent common stock (with cash to be issued in lieu of fractional shares, at a price of $79.57, which was the volume-weighted average trading price of a share of Independent Bank
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