Independent Bank, Enterprise Bancorp sign $562M merger agreement
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 09 2024
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Merger Agreement Details: Independent Bank and Enterprise Bancorp have agreed to merge, with Enterprise shareholders receiving 0.60 shares of Independent stock and $2.00 in cash per share, totaling approximately $562 million. The merger is expected to close in the second half of 2025, pending regulatory approvals.
Financial Impact and Leadership Changes: The merger is projected to be 16% accretive to Independent's earnings per share in 2026, with combined charges estimated at $61.2 million before tax. Post-merger, Enterprise's board chair will become an advisor to Independent, and two Enterprise directors will join Independent's board.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
