South Shore bank busts into Boston market with acquisition that will make it the third largest bank in Allston/Brighton

The Boston Business Journal reports the parent company of Rockland Trust is buying Peoples Federal Savings Bank, headquartered in Brighton Center.

While the move will make Rockland the third largest bank in Allston/Brighton, it will be only the fifth largest bank in West Roxbury, the Journal reports.

For Peoples Federal, the move means it will no longer be constrained by its name - two years ago, it lost a lawsuit against Peoples United Bank over the potential name confusion.

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    Comments

    We knew something was up months ago

    By on

    When they changed the photo of President Thomas J. Leetch from the stern, unsmiling banker's banker pose that had appeared on bank notices for years to one with a huge grin.

    Of more practical importance, as a Peoples customer, I wonder if Rockland will honor Peoples' lifetime free checking accounts.

    A man , you have some sort of

    By on

    A man , you have some sort of fixation with pictures here . Your man is a serious business type dude. He got your money in his bank. Would you be happier if he was smiling in a picture with , say Steve Wynn and a fistful of chips . Say it now , in Tom we trust . Carry on ,sir !

    A man , that is a much older

    By on

    A man , that is a much older picture. Times change , try to buy a DeSoto , or an Oldsmobile. No more neighborhood A & P's, try to find a bake shop too ! At least my barber still razor shaves my neck with hot lather.

    Peoples FSB just lost

    By on

    Peoples FSB just lost themselves a 15-year customer.

    After South Shore's slipshod handling of my mortgage and the "So what's YOUR problem" attitude of their customer service department, I swore they would never touch any of my money ever again.

    South Shore?

    I'm confused - is your beef with South Shore Bank or Rockland Trust? As far as I can tell those are two different banks.

    You mean I have an obligation

    By on

    You mean I have an obligation to read Adam's lead carefully and read the linked article for completeness? Dang!

    He wrote "South Shore bank...", meaning "[A} south shore bank...". My brain (such as it is) saw "South Shore Bank..."

    Once I had done my triple-Lindy off the 3-meter conclusion board, there was no stopping me. I saw the part about "parent company of Rockland Trust" and blew right past my natural skepticism of how South Shore would end up the parent over Rockland. A good friend of mine is friends with a veep at Rockland, and I've heard good things about them.

    I would like to retract my earlier indignant departure from PFSB.

    In the words of Gilda Radner: "Never mind."