Independent Bank Corp. And Central Bancorp, Inc. Report The Filing Of A Lawsuit
Independent Bank Corp. (NASDAQ: INDB) (“Independent”), parent of Rockland Trust Company, and Central Bancorp, Inc. (NASDAQ: CEBK) (“Central”), parent of Central Bank, jointly reported they have become aware of the filing of a complaint on July 17, 2012 in Superior Court in Middlesex County, Massachusetts, against Central, each of Central’s directors, and Independent.
The complaint purports to be a class action filed on behalf of the holders of Central common stock arising from certain alleged actions by the named parties in connection with the previously announced proposed merger of Central with and into Independent.
Independent and Central believe the factual allegations in the complaint are without merit and intend to defend vigorously against the allegations in the complaint.
About Independent Bank Corp.Independent, which has Rockland Trust Company as its wholly-owned commercial bank subsidiary, has approximately $5.1 billion in assets. Rockland Trust offers a wide range of commercial banking products and services, retail banking products and services, business and consumer loans, insurance products and services, and investment management services. To find out why Rockland Trust is the bank “Where Each Relationship Matters ®”, visit www.RocklandTrust.com. About Central Bancorp., Inc. Central is the holding company for Central Bank, whose legal name is Central Co-Operative Bank and which was founded in 1915 as a Massachusetts chartered co-operative bank to provide savings deposits and originate mortgage loans. Central Bank is a full-service community banking operation that provides a variety of deposit and lending services --- including savings and checking accounts for retail and business customers, mortgage loans for constructing, purchasing and refinancing residential and commercial properties, and loans for education, home improvement and other purposes. Central Bank operates nine full-service offices in the Massachusetts communities of Somerville, Arlington, Burlington, Chestnut Hill, Malden, Medford, Melrose, and Woburn (two branches). Forward Looking Statements: Certain statements contained in this filing that are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), notwithstanding that such statements are not specifically identified. In addition, certain statements may be contained in the respective future filings of Independent and of Central with the Securities Exchange Commission, in press releases and in oral and written statements made by or with the approval of Independent or Central that are not statements of historical fact and constitute forward-looking statements within the meaning of the Act. Examples of forward-looking statements include, but are not limited to: (i) statements about the benefits of the merger, including future financial and operating results, cost savings, enhanced revenues and accretion to reported earnings that may be realized from the merger; (ii) statements of plans, objectives and expectations of management or the Boards of Directors; (iii) statements of future economic performance; and (iv) statements of assumptions underlying such statements. Words such as “believes,” “anticipates,” “expects,” “intends,” “targeted,” “continue,” “remain,” “will,” “should,” “may” and other similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.
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