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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.
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On February 20, Michael Rave and Michael Dunne spoke at FinXTech R.O.D.E., a conference presented by Autobooks, Bank Director and Microsoft and held at the Advanced Technology Development Center in Atlanta, GA.
Michael Rave and Megan Bedell authored an article, "Banking the Marijuana Business: Legal or Not?," published by the New Jersey Law Journal.
Michael Rave spoke on a Marijuana Banking panel at the 115th Annual New Jersey Bankers Association conference held in Colorado Springs, CO.
Mike Rave was quoted in an analysis article, "Reg Rollbacks Seen As Bit Player In $28B BB&T-SunTrust Deal," published by Law360.
On December 7, Day Pitney, ICSGroup and CohnReznick co-sponsored "Launching a Private Fund: What You Need to Know."
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.
On July 7, Michael Kaufman will participate as faculty on Strafford's 90-minute Q&A style webinar, "Contribution Agreements: Joint Liability and Rights of Contribution Under Loan Guaranties."