09:47 AM EDT, 07/01/2025 (MT Newswires) -- Independent Bank (INDB) said Tuesday that it had completed the acquisition of Enterprise Bancorp ( EBTC ) , the parent company of Enterprise Bank and Trust.

Under the terms of the deal, each share of Enterprise will be exchanged for .60 shares of Independent's common stock and $2 in cash, which will be paid instead of fractional shares at $61.61 each.

Enterprise Bancorp ( EBTC ) shareholders will receive 7.5 million shares of Independent Bank stock and $25.8 million in cash.

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