Eastern Bank Welcomes Avedis Zildjian Co. As A Commercial Banking Customer

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Eastern Bank (EBC) Announces Comprehensive Banking Solution for Avedis Zildjian Co., the Oldest Family-Owned Business in the U.S. and Leading Musical Instrument Manufacturer

Provides A Comprehensive Banking Solution To Support Oldest Family-Owned Business In The U.S. And Leading Musical Instrument Manufacturer

BOSTON--(BUSINESS WIRE)-- Eastern Bank is pleased to announce Avedis Zildjian Co. (Zildjian), the oldest family-owned business in the United States and the world’s largest maker of cymbals, drumsticks and percussion mallets, as a new commercial customer. Founded in 1623 and headquartered in Norwell, MA, Zildjian’s products are sold globally, inspiring people to express themselves through music. Eastern Bank’s credit solution includes traditional working capital and real estate financing and growth capital to support the company’s next stage of growth.

“As Zildjian celebrates its 400^th anniversary, we are thrilled to embark on a banking relationship with Eastern Bank, a financial institution that shares our commitment to excellence and to the community,” said John Stephans, CEO of Avedis Zildjian Co. “As we map out our next stage of growth, we’re especially excited to work with the banking team at Eastern Bank given their knowledge of family-owned businesses and level of attention to our needs. The team has taken the time to understand what has powered our success, and we’re impressed by the tailored banking solutions they have already begun to offer to us.”

“Zildjian is a beloved brand that epitomizes the highest quality musical experience and at the same time is one of the oldest continuously family-owned-and-operated businesses in the world, and we’re excited to work with them to continue their journey,” said Greg Buscone, Executive Vice President, Chief Commercial Banking Officer of Eastern Bank. “We are proud to welcome them to Eastern Bank and look forward to helping them achieve their financial goals.”

Eastern Bank 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 Avedis Zildjian Co. includes Executive Vice President, Chief Commercial Banking Officer Greg Buscone, Senior Vice President, Commercial Group Director Brendan O’Neill, and Senior Vice President, Commercial Relationship Manager Matthew Hunt.

About Eastern Bank
Founded in 1818, Boston-based Eastern Bank has more than 120 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. As of September 30, 2023, Eastern Bank had approximately $21 billion in total assets. Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes, and takes pride in its outspoken advocacy and community support that includes $240 million in charitable giving since 1994. An inclusive company, Eastern is comprised of 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231115129238/en/

Media contact:

Andrea Goodman

Eastern Bank

a.goodman@easternbank.com

781-598-7847

Investor contact:

Jill Belliveau

Eastern Bankshares, Inc.

InvestorRelations@easternbank.com

781-598-7920

Source: Eastern Bank

FAQ

What is the oldest family-owned business in the U.S. that Eastern Bank is supporting?

Eastern Bank is supporting Avedis Zildjian Co., which is the oldest family-owned business in the United States and the world’s largest maker of cymbals, drumsticks, and percussion mallets.

What financial solutions is Eastern Bank providing to Avedis Zildjian Co.?

Eastern Bank is providing traditional working capital, real estate financing, and growth capital to support Avedis Zildjian Co.'s next stage of growth.

Who are the key executives from Eastern Bank involved in advising Avedis Zildjian Co.?

The Commercial Banking team advising Avedis Zildjian Co. includes Executive Vice President, Chief Commercial Banking Officer Greg Buscone, Senior Vice President, Commercial Group Director Brendan O’Neill, and Senior Vice President, Commercial Relationship Manager Matthew Hunt.