February 12, 2009
Ben Franklin Shareholders Approve Acquisition
By Matthew L. Brown
Shareholders of Benjamin Franklin Bancorp Inc., the holding company for Franklin-based Benjamin Franklin Bank, have approved the bank's acquisition by Independent Bank Corp., parent of Rockland Trust of Rockland.
Votes representing about 72 percent of outstanding Franklin shares voted on the measure during a special meeting Wednesday. About 95 percent of those outstanding shares voted to approve the acquisition.
The acquisition must still be approved by Independent Bank Corp. shareholders and gain regulatory approval.
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