May 15, 2013, 10:39 AMMoney continues to be made playing community bank consolidation, with Independent Bank Corp. (INDB -0.9%) inking a deal to purchase Mayflower Bank (MFLR +64.5%) in a cash/stock deal worth about $17.50/share. Independent estimates the deal with be about 1.5% accretive to earnings in 2014, and 2% thereafter, with an IRR of about 15%. (earlier this week) (PR) | Comment!
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Independent Bank Corp is a bank holding company. The Company, through its subsidiary bank, offersbanking services, including lending activities, acceptance of demand, savings, and time deposits, and investment management.
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