Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced the closing of its acquisition of New England Bancorp, Inc., parent of Bank of Cape Cod. "This acquisition strengthens Rockland Trust's Cape Cod presence," said Christopher Oddleifson, the Chief Executive Officer of Independent and Rockland Trust. "We look forward to introducing Bank of Cape Cod customers to all that Rockland Trust has to offer." The legal closing occurred today, pursuant to which New England Bancorp will be merged with and into Independent, with Independent the surviving entity, and Bank of Cape Cod will be merged with and into Rockland Trust, with Rockland Trust the surviving entity. On Monday, November 14, 2016, the former Bank of Cape Cod branch located at 57 West Bay Road in Osterville, Massachusetts will open and immediately begin to operate as a Rockland Trust location. The three other former Bank of Cape Cod branches are being closed and consolidated into existing Rockland Trust locations. Under the merger terms, shareholders of New England Bancorp will receive 0.25 of an Independent share for each share of New England Bancorp that they hold and cash will be issued in lieu of fractional shares. As a result of the merger, former New England Bancorp shareholders will receive approximately 672,000 shares of Independent common stock in the aggregate. Including the shares issued in connection with the acquisition, Independent will now have approximately 27,001,185 shares of common stock outstanding. Independent anticipates that the transaction will be accretive to 2017 earnings. About Independent Bank Corp.Independent Bank Corp., which has Rockland Trust Company as its wholly-owned commercial bank subsidiary, will now have approximately $7.8 billion in assets, after the closing of the New England Bancorp acquisition. 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. Forward Looking Statements: 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, statements in future filings of Independent with the Securities Exchange Commission (the "SEC"), in press releases, and in oral and written statements made by or with the approval of Independent that are not statements of historical fact may also 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.