Eastern Bank Welcomes Alarm New England As A Commercial Customer

Rhea-AI Summary

Eastern Bank has announced Alarm New England as a new commercial banking customer, supporting its financing needs. Alarm New England, established in 1972, offers innovative security solutions and serves the Connecticut, Massachusetts, and Rhode Island regions. Eastern Bank is providing a revolving line of credit and comprehensive cash management to assist with Alarm New England’s growth plans. With approximately $14.0 billion in total assets, Eastern Bank is committed to helping local businesses across various industries improve cash flow and efficiency.

Positive

• Eastern Bank adds Alarm New England as a new commercial banking customer.
• Alarm New England has nearly 50 years of experience in security solutions.
• Eastern Bank is providing a revolving line of credit to support growth.

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• None.

BOSTON--(BUSINESS WIRE)--Eastern Bank is pleased to announce Alarm New England as a new commercial banking customer. Founded in 1972, Alarm New England is a family owned and operated provider of innovative security solutions and technology. Eastern is providing banking solutions to meet Alarm New England’s financing needs. This includes a revolving line of credit for working capital and expansion as well as comprehensive cash management services and solutions. Based in Rocky Hill, Connecticut, Alarm New England operates in Connecticut, Massachusetts and Rhode Island.

“Alarm New England has been serving individuals, families and businesses with security products and services for nearly 50 years, and we have grown locally into a leading alarm company in the region,” said Doug Curtiss, CEO and Founder of Alarm New England. “We’re pleased to work with Eastern Bank for our capital and financing needs to support our plans for growth.”

“For generations, families and businesses across our local communities have relied upon Alarm New England for security solutions, and we look forward to serving as its banking partner,” said Greg Buscone, Executive Vice President, Senior Commercial Banking Officer of Eastern Bank.

Eastern provides a range of commercial financing offerings to help local 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 and asset based lending.

The Commercial Banking team advising Alarm New England includes Executive Vice President, Senior Commercial Banking Officer Greg Buscone, Senior Vice President and Commercial Team Leader Brendan O’Neill, Senior Vice President and Commercial Relationship Manager Matthew Hunt, and Vice President and Commercial Portfolio Manager Stephen Justus.

Mark Sandler of SPP Advisors represented Alarm New England.

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, 2020, Eastern Bank had approximately $14.0 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 subsidiary. Eastern takes pride in its outspoken advocacy and community support that has exceeded $140 million in charitable giving since 1999. An inclusive company, Eastern employs 1,800+ 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, Twitter and Instagram. Eastern Bankshares, Inc. (Nasdaq Global Select Market: EBC) is the stock holding company for Eastern Bank. For investor information, visit investor.easternbank.com.