Work

All Enterprise Bank locations remain open.

The merger between Rockland Trust and Enterprise Bank will result in the addition of 125 local employees. Rockland Trust recently filed a state notice indicating that the merger might impact up to 125 jobs by the end of the year. Maria Harris, the Chief Human Resources Officer at Rockland Trust, explained that this change is due to overlapping operational functions.

Harris mentioned that they have extended offers to more than 71% of Enterprise Bank staff, and more offers should be forthcoming. “We aim to support our corporate colleagues during this transition, ensuring transparency, care, and respect,” she stated.

In light of these changes, the bank is reintroducing training workshops focused on interview skills and resume writing. They recently hosted a job fair with local employers to assist those who may not remain with the organization, and another one is scheduled for August.

Harris confirmed that all Enterprise Bank branches will stay open during this transition.

In December, Rockland Trust announced its plan to acquire Enterprise Bank in a deal worth $562 million. Founded in 1989 in Lowell, Enterprise Bank operates 27 branches in Massachusetts and New Hampshire, boasting $4.7 billion in assets as of September. Following the merger, Rockland Trust is expected to have around $25 billion in assets, with the merger anticipated to finalize in the latter half of 2025.

This merger follows Rockland Trust’s acquisition of East Boston Savings Bank three years ago, which was a $11.5 billion deal. Jeffrey Tengel, president and CEO of Independent Bank Corporation, which owns Rockland Trust, stated, “Both institutions are committed to making a positive impact in the lives of local families and businesses.” He expressed enthusiasm about expanding Rockland Trust’s presence in northern Massachusetts and New Hampshire, emphasizing that the merger will enhance convenience and diversify the services available to the communities served.