On July 1, 2025, Independent Bank Corp completed its merger with Enterprise Bancorp, exchanging each share of Enterprise for 0.60 shares of Independent stock and $2.00 in cash, impacting approximately 7.5 million shares and $25.8 million in cash paid to Enterprise shareholders. The merger also involved a total of $60 million in Enterprise's subordinated notes which Independent will manage and intends to retire by July 15, 2025.