Day Pitney LLP represented Independent Bank Corp. (Nasdaq: INDB), parent of Rockland Trust Company, in an agreement to acquire Island Bancorp, Inc., parent of Edgartown National Bank, for $24.5 million. Rockland Trust intends to operate all Edgartown National Bank branches when the transaction closes. The parties anticipate that the consummation of the transaction will occur in the second quarter of 2017.
The Day Pitney team was led by Michael Rave, Richard Leu and Kendall Wilson. Steve Ziobrowski, David Doyle and Andrew Wogman also assisted on the transaction.
Day Pitney has also advised Independent Bank Corp. on the acquisition of New England Bancorp, Inc., parent of Bank of Cape Cod, and Peoples Federal Bancshares, Inc., parent of Peoples Federal Savings Bank.
Day Pitney Alert
On April 9, Jed Davis was one of the presenters on a webinar, "Cybersecurity Regulation: Navigating the New DFS Cybersecurity Regulation," distributed through Thomson Reuters.
Jed Davis spoke on "Cybersecurity: Surveying Current State and Federal Regulatory Activity By The SEC and NYDFS," a webinar presented by Bloomberg and moderated by cybersecurity expert Daniel Garrie.
Jed Davis authored an article, "Six Common Misconceptions About Cybersecurity," which appears in the March 5, 2018 issue of New York Law Journal as part of a special section on cybersecurity.
On December 7, Day Pitney, ICSGroup and CohnReznick co-sponsored "Launching a Private Fund: What You Need to Know."
Jed Davis was quoted in a breaking news article, "New York eases proposed cyber regulations after industry complaints," published by Reuters.
Eliza Fromberg was quoted in an article, "FINRA's Capital Acquisition Broker Rules Face Tough Sell," in Law360.
Eliza Fromberg was quoted in an article, "Introduction of Regulation Crowdfunding" in Financier Worldwide Magazine.
Brian Fischer spoke on "Defining Success from a Legal Perspective – How to Best Structure the Transaction to Meet the Owner's Objectives while Providing Significant Legal Protection," at an Exit Planning Exchange (XPX) Hartford program.