Hanover, MA - February 6, 2024 – In a recent Community Reinvestment Act (CRA) performance evaluation by the Federal Deposit Insurance Corporation (FDIC) and the Massachusetts Division of Banks, Rockland Trust received an overall “Outstanding” rating – the highest rating possible. The examination period was from March 2020 through August 2023.
Rockland Trust proudly announces its “Outstanding” Community Reinvestment Act (CRA) rating from both the Federal Deposit Insurance Corporation (FDIC) and the Massachusetts Division of Banks. The two regulators have recognized Rockland Trust for its proactive efforts to provide accessible and inclusive banking services.
“As a community-oriented bank, we’re committed to strengthening the neighborhoods our colleagues live in and serve,” said Jeff Tengel, Chief Executive Officer at Rockland Trust. “The Community Reinvestment Act helps financial institutions focus on meeting the needs of all community members. Our 2023 ‘Outstanding’ rating is a testament to the dedication and effort our colleagues demonstrate in pursuit of our shared vision to be the Bank Where Each Relationship Matters®.”
The Community Reinvestment Act was enacted by Congress in 1977 to encourage banks to meet the credit needs of the communities they serve, specifically low and moderate-income individuals, neighborhoods and businesses. Separate comprehensive evaluations of Rockland Trust’s lending, investments and services were conducted during the examination. Positive results in each area contributed to the overall “Outstanding” result.
Some of Rockland Trust’s noteworthy achievements during the evaluation period include:
- Community Development Lending: Rockland Trust is a market leader in community development lending and extended $682.5 million in qualified credit during the examination period. These loans provided support to a myriad of activities including affordable housing, essential community services, economic development, and revitalization of targeted geographies.
- Affordable Housing: The Bank has played a major role in supporting affordable housing and making homeownership more accessible. This work included 615 loans totaling $236.9 million during the examination period through innovative and flexible lending home loan programs.
- Community Investment: Rockland Trust is deeply committed to investing in community development projects and contributing to the improvement of neighborhoods. During the examination period, the Bank originated and maintained 886 community development investments totaling approximately $367.8 million. This is inclusive of approximately $4.2 million in grants and donations to 816 different charitable organizations. These organizations provided affordable housing or community services to low and moderate-income individuals, or otherwise promoted economic development impacting low and moderate-income individuals.
- Small Business Lending: The Bank continually supports the economic development of small businesses as it is the backbone of entrepreneurship and job creation within the communities. During the examination period, Rockland Trust originated 10,977 Small Business loans through SBA loan programs totaling $1.4 billion.
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Financial Education Programs: Rockland Trust has a strong focus on financial education. The organization has created and offers several comprehensive education programs which promote financial literacy and empowerment for individuals of all ages. Some examples of these free programs include the virtual
Ms. Money’s Classroom, No Shame in this Money Game podcasts
, The Homebuyer’s Playbook, and many more resources.
A continuous commitment
Rockland Trust is steadfast in its commitment to supporting development services. As the Bank grows and expands its reach, the organization is dedicated to fulfilling its promise of Where Each Relationship Matters® across all of the communities within its footprint. To see the complete performance evaluation provided by the FDIC and Division of Banks
click here. 
