Rockland Trust Provides a $9 Million Loan to Bassett Development LLC for New 55 Plus Community In Taunton

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Taunton, MA - April 12, 2021 - Rockland Trust announced today that it provided two loans totaling roughly $9MM to Bassett Development LLC for Titicut Estates, a brand new 55 plus community in Taunton. These two loans will be used to acquire the land and develop the infrastructure for this new project, including 110 modular family units across 60 acres.

'Rockland Trust is proud to work with Bassett Development for another community-focused development project in South Eastern Massachusetts,' said John S. Davison, First Vice President of Commercial Lending at Rockland Trust. 'By providing our community with more affordable housing options like Titicut Estates, we're creating thoughtful developments that truly cater to those that are 55 and over.'

'Rockland Trust shares our strong commitment to the communities we serve,' said Matthew Falconeiri, Principal and Owner of Bassett Development LLC. 'From the start, John has understood our vision and goals for this project and we are grateful for his partnership.'

This community development will be built in three phases over the next five years, with the first phase projected to be opening in the late spring of 2021. Construction started earlier this year with the clearing of the 60 acres of land, the future location of the modular homes, community center, and pool. Bassett will be working with Keller Williams Real Estate to sell the houses, which are expected to cost between $350,000 and $375,000.

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Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. Rockland Trust was named The Boston Globe's 'Top Places to Work' 2020 list, an honor earned for the 12th consecutive year. In addition to this recognition, Rockland Trust was ranked the #1 Bank in Massachusetts, according to Forbes 2020 World's Best Banks list. Rockland Trust is deeply committed to the communities it serves, as reflected in the overall 'Outstanding' rating received in its most recent Community Reinvestment Act performance evaluation. Rockland Trust offers a wide range of banking, investment, and insurance services. The Bank serves businesses and individuals through approximately 100 retail branches, commercial and residential lending centers, and investment management offices in eastern Massachusetts, including Greater Boston, the South Shore, the Cape and Islands, and Worcester County and Rhode Island. Rockland Trust also offers a full suite of mobile, online, and telephone banking services. Rockland Trust is an FDIC member and an Equal Housing Lender. To find out why Rockland Trust is the bank 'Where Each Relationship Matters®,' please visit RocklandTrust.com.

Rockland Trust's Commercial Banking Group has more than 50 commercial lenders and 16 lending centers throughout Massachusetts and Rhode Island. With a lending capacity of up to $100 million, the Commercial Banking Team has broad experience in asset-based lending, commercial real estate, construction and land development, equipment financing, commercial mortgages, and low-income housing loans. Also, the team can meet all the financial needs of its customers with additional services such as business deposit products, merchant and foreign exchange services, and cash management services.