Rockland Trust Company is headquartered in ROCKLAND and is the 3rd largest bank in the state of Massachusetts. It is also the 95th largest bank in the nation. It was established in 1907 and as of March of 2024, it had grown to 1,724 employees at 124 locations. Rockland Trust Company's CD rates are 4X the national average, and it has an A health rating.
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Dishornorable Bank
The Executive Vice President of the bank was responsible for liaison duties while I worked for a company that promised to protect me during its loan repayment difficulties. I provided all necessary information for the loan and supported the banker during legal proceedings. After the bank forced the company into loan default, I was laid off, and the bank appointed someone to oversee the finances. Out of goodwill, I continued to answer questions and assist the Executive Vice President's team. However, when I reached out to the Executive Vice President multiple times for a job recommendation and reference, I was met with silence and ignored, despite my previous cooperation. This bank prioritizes personal gain and profits over trust and partnerships. It is not advisable to partner with such an institution.
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.
Data as of Q1 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 9712 |
| Year Established | 1907 |
| Employees | 1724 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.03% |
| Return on Equity - YTD | 6.8% |
| Annual Interest Income | $210MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2024vs Q1 2023 | $19.33B$19.45B |
| Loans | Q1 2024vs Q1 2023 | $14.19B$13.79B |
| Deposits | Q1 2024vs Q1 2023 | $15.1B$15.37B |
| Equity Capital | Q1 2024vs Q1 2023 | $2.92B$2.87B |
| Loan Loss Allowance | Q1 2024vs Q1 2023 | $146.9MM$159.1MM |
| Unbacked Noncurrent Loans | Q1 2024vs Q1 2023 | $56.9MM$56.1MM |
| Real Estate Owned | Q1 2024vs Q1 2023 | $110K$0 |
