Another bank is hoisting its name up onto Live Nation’s concert pavilion in the Seaport. This time, it’s Rockland Trust.
The Hanover-based bank unveiled plans to call the concert venue the Rockland Trust Bank Pavilion following its deal last year to acquire Blue Hills Bank, which had two more years left on a naming-rights contract for the 5,000-seat pavilion.
The move comes as Rockland Trust is trying to build its brand in Boston. Under the leadership of chief executive Chris Oddleifson, the company has expanded well beyond the South Shore, where its roots are, to communities west and north of Boston as well as to a few neighborhoods in the city, via acquisitions.
Rockland opened its first retail branch in downtown Boston in December. It will also have a Seaport branch a few blocks from the pavilion through its Blue Hills Bank purchase, a deal that is expected to be completed within the first half of 2019.
“It brings instant awareness to the brand,” said Jennifer Marino, Rockland Trust’s chief marketing and customer officer. “Boston is a cluttered market. There are a lot of financial institutions in Boston. We wanted that instant recognition, if people weren’t familiar with us” before.
Marino said the arrangement is the same as it was for Blue Hills: slightly more than $300,000 annually for the next two concert seasons. She said the bank may look to renew when the contract runs out.
Blue Hills wasn’t the first bank whose name graced the venue’s signage. BankBoston, FleetBoston, and Bank of America all had their turns, with the names swapping with each successive merger. Bank of America’s contract for naming rights expired in 2013.
Blue Hills Bank started a new line of succession by inking a deal to brand the place the Blue Hills Bank Pavilion before the 2014 concert season.