Rockland Belief Firm and Impartial Financial institution Corp. Appoint Jeffrey J. Tengel as Chief Govt Officer

Rockland Trust Company and Independent Bank Corp. Appoint Jeffrey J. Tengel as Chief Executive Officer

ROCKLAND, Mass.–(BUSINESS WIRE)–Rockland Belief Firm and its financial institution holding firm father or mother Impartial Financial institution Corp. (NASDAQ International Choose Market: INDB) right now introduced the appointment of Jeffrey J. Tengel because the successor to present Chief Govt Officer, Christopher Oddleifson, efficient on or about February 6, 2023. 

Oddleifson has served because the Financial institution’s CEO since 2003. Underneath his management, Rockland Belief has grown complete belongings from simply over $2 billion to just about $20 billion and expanded from its southeastern Massachusetts roots to a financial institution with over 120 retail branches, industrial and residential lending facilities, and funding administration workplaces.

“What an honor it has been to function Rockland Belief’s CEO,” stated Oddleifson. “After main Rockland Belief for over twenty years, I’ve determined that the time has come to cross the baton. I’m thrilled that our Board of Administrators has chosen a successor with the caliber of Jeff Tengel to information Rockland Belief into the longer term.”

The appointment of Tengel is the end result of a considerate, thorough CEO succession planning course of that concerned a nationwide search. A particular committee of the Board, comprised of impartial administrators, oversaw CEO succession planning, assisted by a preeminent management consulting agency. Following Tengel’s formal appointment as CEO, Oddleifson will stay with Rockland Belief in an govt advisory function till the tip of 2023.

“On behalf of the Board of Administrators, I thank Chris Oddleifson for establishing constant, disciplined, excellent efficiency during the last 20 years,” stated Donna L. Abelli, Chair of each the Impartial and Rockland Belief Boards. “Our strategic route is unchanged, and we’re assured that Jeff Tengel will leverage his strong industrial banking expertise and people-first management type to keep up Rockland Belief’s best-in-class tradition and construct on the group’s stable basis.”

Tengel most just lately served as Senior Govt Vice President, Head of Industrial Specialty Banking at M&T Financial institution. Previous to M&T’s current acquisition of Folks’s United Monetary, Tengel was President of Folks’s United the place he was accountable for industrial banking, retail banking, and wealth administration. He joined Folks’s United in 2010 from PNC Financial institution the place he labored following PNC’s acquisition of Nationwide Metropolis Financial institution. At Nationwide Metropolis, Tengel served as Govt Vice President of Company Banking, managing the specialised trade, capital markets, industrial actual property, tools finance, and personal fairness enterprise traces.

Tengel obtained his Bachelor of Science diploma in accounting from Marquette College and his M.B.A. from the Weatherhead Faculty of Administration at Case Western Reserve College. He at the moment serves on the Board of Trustees of Quinnipiac College.

“I’m grateful for the chance the Board has granted me to affix an excellent group so deeply rooted within the communities it serves,” stated Tengel. “I look ahead to constructing robust, enduring relationships with Rockland Belief’s loyal clients and devoted colleagues. I’m steadfastly dedicated to sustaining the award-winning tradition and customer support fostered throughout Chris Oddleifson’s long-term stewardship. I’ll draw upon my expertise to guide Rockland Belief to a tomorrow full of innovation, alternative, sustainable disciplined progress, and objective.”

Impartial has appointed Tengel as a Class I Director, efficient as of his appointment as CEO. Rockland Belief additionally concurrently appointed Tengel to its Board of Administrators, efficient as of his appointment as CEO.

Oddleifson will proceed to function a Class III Director of Impartial and as a Rockland Belief Director. Oddleifson doesn’t intend to face for reelection as a director when his present phrases expire in 2023.

About INDB/Rockland Belief

Impartial Financial institution Corp. (NASDAQ International Choose Market: INDB) is the holding firm for Rockland Belief Firm, a full-service industrial financial institution headquartered in Massachusetts. Rockland Belief was named to The Boston Globe’s “High Locations to Work” 2022 listing, an honor earned for the 14th consecutive 12 months. *In 2022, Rockland Belief was ranked #1 in Buyer Satisfaction with Retail Banking in New England. Rockland Belief has a longstanding dedication to fairness and inclusion. This dedication is underscored by initiatives akin to Range and Inclusion management coaching, a colleague Allyship mentoring program, and quite a few Worker Useful resource Teams centered on offering colleague help and schooling, reinforcing a tradition of mutual respect and advancing skilled improvement, and Rockland Belief’s sponsorship of various neighborhood organizations by means of charitable giving and employee-based volunteerism. As well as, Rockland Belief is deeply dedicated to the communities it serves, as mirrored within the general “Excellent” ranking in its most up-to-date Group Reinvestment Act efficiency analysis. Rockland Belief affords a variety of banking, funding, and insurance coverage companies. The Financial institution serves companies and people by means of over 120 retail branches, industrial and residential lending facilities, and funding administration workplaces in jap Massachusetts, together with Higher Boston, South Shore, North Shore, Cape Cod and Islands, Worcester County, and Rhode Island. Rockland Belief additionally affords a full suite of cellular, on-line, and phone banking companies. Rockland Belief is an FDIC member and an Equal Housing Lender. To search out out why Rockland Belief is the Financial institution The place Every Relationship Issues®, please go to