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Eastern Bank Welcomes A-COM Integrated Solutions as a Commercial Customer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Eastern Bank announced a new banking partnership with A-COM Integrated Solutions, providing a comprehensive treasury solution including a $9 million revolving line of credit. A-COM, founded in 1973, specializes in security and automation services, catering to over 20,000 customers. Eastern Bank, with assets totaling approximately $17 billion, emphasizes its commitment to supporting local businesses and enhancing cash flow through diverse commercial lending solutions.
Positive
New partnership with A-COM Integrated Solutions opens banking opportunities.
Provision of a $9 million revolving line of credit supports A-COM's operational needs.
Eastern Bank's total assets reported at approximately $17 billion bolster investor confidence.
Negative
None.
Provides Comprehensive Treasury Solution Services Including $9 Million Revolving Line of Credit
BOSTON--(BUSINESS WIRE)--
Eastern Bank is pleased to announce A-COM Integrated Solutions (A-COM) as a new commercial banking customer. Founded in 1973, A-COM is a family-owned security, home and business automation company offering services to benefit increasingly mobile lifestyles. With decades of experience in the safety and fire protection industry, it serves more than 20,000 customers with advanced business management and security in such areas as intrusion, access, surveillance, cyber security risk assessment and proactive IT monitoring. Eastern is providing a full banking solution to A-COM, which includes a revolving line of credit.
“For more than 45 years, providing customers with peace of mind over the security and protection of their homes, businesses and data has been central to our business philosophy,” said Wayne Beck, CEO and Founder of A-COM. “Eastern understands our model, has ensured a smooth process for managing our working capital and daily treasury needs, and offers the resources to support our future plans as new opportunities form from our customers’ changing needs.”
“A-COM is known for its commitment to excellence in customer service and giving back to the community,” said Greg Buscone, Executive Vice President, Senior Commercial Banking Officer of Eastern Bank. He added, “We are pleased to provide our banking solutions and look forward to working with them.”
Eastern provides a range of commercial financing offerings to help companies across many industries to improve cash flow, increase efficiencies and build for the future. Commercial lending solutions include working capital/lines of credit, equipment/term loans, real estate loans, acquisition financing, asset-based lending and employee stock ownership plan-related financing.
The Commercial Banking team advising A-COM includes Executive Vice President, Senior Commercial Banking Officer Greg Buscone, Senior Vice President and Commercial Team Leader Brendan O’Neill, and Senior Vice President and Commercial Relationship Manager Matthew Hunt.
About Eastern Bank
Founded in 1818, Boston-based Eastern Bank has more than 110 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. As of June 30, 2021, Eastern Bank had approximately $17 billion in total assets. Eastern provides banking, investment and insurance products and services for consumers and businesses of all sizes, including through its Eastern Wealth Management division and its Eastern Insurance Group LLC subsidiary. Eastern takes pride in its outspoken advocacy and community support that includes $240 million in charitable giving since 1994. An inclusive company, Eastern employs approximately 1,900 deeply committed professionals who value relationships with their customers, colleagues and communities. Join us for good at www.easternbank.com and follow Eastern on Facebook,LinkedIn,TwitterandInstagram. Eastern Bankshares, Inc. (Nasdaq Global Select Market: EBC) is the stock holding company for Eastern Bank. For investor information, visit investor.easternbank.com.
