Press Release: Blue Hills Bank : Blue Hills Bancorp, Inc. Stockholders Approve Acquisition by Independent Bank Corp.

NORWOOD, Mass., Jan. 16, 2019 (GLOBE NEWSWIRE) -- Stockholders of Blue Hills Bancorp, Inc. (the "Company" or "Blue Hills Bancorp") (NASDAQ: BHBK) approved the proposed merger of Blue Hills Bancorp and Independent Bancorp, Inc. ("Independent") (NASDAQ:INDB) pursuant to the previously disclosed Agreement and Plan of Merger, dated as of September 20, 2018 (the "Merger Agreement") at Blue Hills Bancorp's special meeting of stockholders held on January 16, 2019. Subject to the terms of the Merger Agreement, Blue Hills Bancorp will merge with and into Independent, with Independent surviving the merger, and Blue Hills Bank will merge with and into Rockland Trust Company. At the effective time of the merger, Blue Hills Bancorp's stockholders will receive in exchange for each share of Blue Hills Bancorp common stock, (i) $5.25 in cash and (ii) 0.2308 of a share of Independent common stock in accordance with the terms and conditions of the Merger Agreement. The merger remains subject to the approval of Independent's stockholders at a special meeting of stockholders to be held on January 25, 2019, and is subject to regulatory approval and other customary closing conditions. The merger is expected to close later in the first quarter of 2019 or early in the second quarter of 2019. Independent's and Blue Hills Bancorp's common stock are each listed on the Nasdaq Global Select Market under the trading symbols "INDB" and "BHBK," respectively.