Rockland Trust Company is headquartered in Rockland and is the 3rd largest bank in the state of Massachusetts. It is also the 101st largest bank in the nation. It was established in 1907 and as of June of 2022, it had grown to 1,654 employees at 125 locations. Rockland Trust Company's money market rates are 36% higher than the national average, and it boasts an A+ health rating.
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Great Bank
Rockland Trust offer great rates and all employees in my branch are extremely nice.
Great Customer Service
I have a personal checking account through Rockland Trust. With my checking account, I have a few bills that get paid automatically through it. One several occasions, there has not been enough money in my account to cover the automatic payments, which have caused me to have a $35 maintenance fee deducted from my account. On top of my account already being a negative balance because of the automatic payment going through, it has been a larger sum due to the maintenance fee. I have been able to call my local branch twice this year to ask if there was any way someone could help me out, they know that I am a single, stay at home mother, with a very strict, fixed income and am struggling. I always talk to the manager, Michelle and she has helped me by refunding the maintenance fee and I am usually able to get together enough to at least bring my account back into the positives. Because of Michelle's ability to do this, she has saved me a lot of stress and has kept my account from becoming far in debt.
Awful Customer Service
Awful customer service. After waiting on hold for over half an hour, the customer service representative kept giving me different directions and suggestions regarding checking accounts. None of it was helpful and she didn’t have any understanding of how to actually get the problem fixed. Rather than helping with the problem, she told me other banks may be able to verify the information and set up the account but that she didn’t know how the verification system worked at Rockland and there was no way for her to fix the problem generated by the system. She was right: I was able to open an account at a different bank in minutes without being on hold and without an irreconcilable, system generated error.
Stay Away From Rockland Trust.
I absolutely despise this bank. Their fees are absurd, their online banking is often unavailable, their mobile app is horrible, and their customer service is atrocious.
They have been charging me $25 a month for a standard checking account, I trying to go online to check out my account and it has been 'down for maintenance' for 2 days, and a call to customer support leaves me in a 'wait time of 45 mins'. How's that for service?
Whatever you do stay away from using this bank.
Worst Bank In America
After banking here for nine years I can say one thing with certainty: whatever they say they will do will not get done.
Before I went to Spain on vacation I told them I would be using my debit card there. They promised to lift the security block. They didn't, leaving me stranded.
A few months later I sold my house. I asked them for a statement showing I owed nothing on my home equity line of credit. They didn't do it so I had to drive 80 miles to get it. Avoid this bank. It's nothing but trouble.
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 9712 |
| Year Established | 1907 |
| Employees | 1654 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.15% |
| Return on Equity - YTD | 8.01% |
| Annual Interest Income | $291.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $19.98B$14.19B |
| Loans | Q2 2022vs Q2 2021 | $13.53B$8.86B |
| Deposits | Q2 2022vs Q2 2021 | $16.77B$12.05B |
| Equity Capital | Q2 2022vs Q2 2021 | $2.88B$1.83B |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $144.3MM$102.4MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $55.9MM$47.7MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$0 |
