Central Bancorp shareholders give nod to Independent

By Michael Souza
PBN Staff Writer

SOMERVILLE – Central Bancorp Inc. parent of Central Bank, announced Sept. 11 that its shareholders overwhelmingly approved Central's pending merger with Independent Bank Corp., parent of Rockland Trust Company, at a special meeting.Shareholders also voted in favor of a non-binding advisory resolution to approve certain compensation to be paid to certain executive officers of Central in connection with the merger.

The merger is expected to close in the fourth quarter of 2012 subject to the receipt of regulatory approval and the satisfaction of other customary closing conditions.