Financial Services >> CEO Interviews >> January 6, 2003
DOUGLAS H. PHILIPSEN, Chairman, President and Chief Executive Officer of
Independent Bank Corp., joined Rockland Trust Company, the largest
commercial bank headquartered in southeastern Massachusetts, in December
of 1991 as Chief Executive Officer, President and Director. At that
time, he was also elected President and Director of Independent Bank
Corp., the sole owner of Rockland Trust Company. Mr. Philipsen was
elected Chairman and Chief Executive Officer of Independent Bank Corp.
in July 1998. Rockland Trust merged with the Middleborough Trust Company
(also owned by INDB) in June 1992. It also purchased 16 branches from
FleetBoston Financial and Sovereign Bank in August 2000 (available due
to the divestiture of certain Fleet branches at the time of the
Fleet/BankBoston merger). Mr. Philipsen has over 30 years of banking
experience including former President and Chief Executive Officer of
Bank of New England-Worcester, Worcester, Massachusetts, and its
predecessor financial institutions, Guaranty Bank & Trust and Consumers
Savings Bank. During the period 1983 to 1987, Mr. Philipsen was
President and Chief Executive Officer of Berkshire Bank & Trust Company,
Pittsfield, Massachusetts. From 1972 to 1983, Mr. Philipsen served as
Senior Vice President and Chief Financial Officer and then Executive
Vice President of Essexbank, Peabody, Massachusetts. His professional
experience in the non-banking sector includes senior financial positions
with W. R. Grace & Co. and Ford Motor Company. During his tenure with
the bank, Mr. Philipsen has been active in many civic and community
organizations. Currently, he is a Director of the Brockton 21st Century
Corp. (economic development agency), Director and Executive Committee
member of the Old Colony YMCA, and a member of the Board of Overseers of
the South Shore Health and Educational Corporation of the South Shore
Hospital. Profile
DENIS K. SHEAHAN has served as Chief Financial Officer and Treasurer of
Independent Bank Corp., the sole owner of Rockland Trust Company, since
May 2000. Mr. Sheahan joined Rockland Trust Company in July 1996 as
Senior Vice President and Controller. Since serving as Chief Financial
Officer and Treasurer, Mr. Sheahan has effectively managed a $2.3
billion balance sheet and has been directly responsible for a $700
million investment portfolio, which represents one-third of the
company's balance sheet. Mr. Sheahan has 17 years of experience in the
banking industry. He served as Vice President of Finance of BayBanks,
Inc., Boston, Massachusetts, from 1986 to 1996. Profile
Corp. and a picture of things now?
Mr. Philipsen: Rockland Trust Company currently is the sole banking
subsidiary of the
