PLAYING IT COOL: "We've never viewed Boston as critical to our long-term sustainability, but took the approach that when an opportunity presented itself we would jump on it," said Christopher Oddleifson, chief executive of Independent and its Rockland Trust.

Massachusetts Deal Shows Patience Is a Virtue for Acquirers

Independent Bank Corp. has spent recent years looking for a way to break into Boston without overpaying. It recently found a steal in Peoples Federal, a former mutual, in a deal that boosts earnings and tangible book value.

To continue, please log in, register or subscribe.
Already a subscriber? Log in here
Please note you must now log in with your email address and password.

Already a subscriber? Log in here
Please note you must now log in with your email address and password.