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Subsequent Events | 6 Months Ended
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Jun. 30, 2025
Subsequent Events [Abstract] |
Subsequent Events [Text Block] | SUBSEQUENT EVENTS Effective July 1, 2025, the Company completed its merger with Enterprise Bancorp, Inc. (“Enterprise”), parent of Enterprise Bank and Trust Company (“Enterprise Bank”) pursuant to which Enterprise merged with and into the Company, with the Company as the surviving corporation, and Enterprise Bank was merged into Rockland Trust, with Rockland Trust as the surviving entity (“the acquisition”). The acquisition resulted in the addition of 27 branch locations in Massachusetts and New Hampshire and approximately $3.9 billion in loans and $4.4 billion in deposits, each at estimated fair value. As consideration for the acquisition, each Enterprise share was exchanged for 0.60 of a share of the Company’s common stock and $2.00 in cash, with cash paid in lieu of fractional shares at a price of $61.61, an amount determined by the volume-weighted average closing price of a share of the Company’s common stock for the five consecutive trading days ending on the fifth day immediately preceding the closing date of the acquisition. As a result of the acquisition, former Enterprise shareholders received, in the aggregate, approximately 7.5 million shares of the Company’s common stock and approximately $25.8 million in cash, inclusive of the payment made to cash out outstanding stock options and excluding cash paid in lieu of fractional shares.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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