SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
SEPTEMBER 27, 1999
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(Date of earliest event reported)
Independent Bank Corp.
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(Exact name of registrant as specified in its charter)
MASSACHUSETTS 1-9047 04-2870273
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(State or other jurisdiction (Commission File Number) IRS Employer
of incorporation) Identification No.
288 UNION STREET, ROCKLAND, MASSACHUSETTS 02370
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(Address of principal executive offices) (Zip Code)
(781) 878-6100
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(Registrant's telephone number, including area code)
NOT APPLICABLE
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(Former name, former address and former fiscal year, if
changed since last report)
ITEM 5. OTHER EVENTS
On September 24, 1999, Independent Bank Corp. (the "Company") and its sole
banking subsidiary, Rockland Trust Company, entered into a purchase and
assumption agreement with Fleet Financial Group, Inc., Fleet National Bank and
BankBoston, N.A., to acquire 12 Massachusetts branches totaling $269 million in
deposits and $37 million in consumer and SBA loans. In addition, the Company
will purchase approximately $113 million of commercial real estate loans at par
from BankBoston, related to its Small Business Banking Developmental Real Estate
portfolio. The acquisitions result from the divestiture of Fleet branches after
its merger with BankBoston. The transaction is contingent on regulatory
approvals and the raising of approximately $10 million of total risk-based (Tier
2) capital.
Reference is made to the Press Release, dated September 27, 1999, which
is attached hereto as Exhibit 99 and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial Statements.
Not Applicable.
(b) Pro Forma Financial Information.
Not Applicable.
(c) Exhibits:
10 Purchase and Assumption Agreement by and among Independent
Bank Corp., Rockland Trust Company, Fleet Financial Group,
Inc., Fleet National Bank and BankBoston, N.A., dated
September 27, 1999
99 Press Release, dated September 27, 1999
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
INDEPENDENT BANK CORP.
Date: October 1, 1999 By: /s/ RICHARD J. SEAMAN
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Richard J. Seaman
Chief Financial Officer and Treasurer
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