Welcome to our dedicated page for Eastern Bankshares news (Ticker: EBC), a resource for investors and traders seeking the latest updates and insights on Eastern Bankshares stock.
Eastern Bankshares, Inc. (EBC) maintains this dedicated news hub for stakeholders tracking its financial operations and community impact. As New England's oldest mutual bank, EBC delivers timely updates on strategic developments through verified press releases and official announcements.
This comprehensive resource consolidates essential updates including quarterly earnings reports, merger announcements like the Cambridge Trust integration, and community initiatives reflecting its social responsibility commitments. Investors will find material disclosures while local residents discover updates on branch network expansions and financial literacy programs.
All content undergoes strict verification to ensure accuracy standards expected from a FDIC-insured institution. The news archive serves both immediate research needs and long-term trend analysis, with historical context spanning EBC's 1818 founding to modern digital banking innovations.
Bookmark this page for direct access to primary-source updates on commercial lending developments, wealth management offerings, and leadership changes at one of America's most enduring community-focused financial institutions.
Eastern Bank has welcomed Alarm Detection Systems, Inc. as a new commercial banking customer. Founded in 1968, Alarm Detection Systems is among the largest security firms in the U.S. Eastern Bank is providing a full suite of banking services, including a revolving line of credit aimed at supporting working capital and expansion plans. The deal showcases Eastern's commitment to serving the security alarm sector. With approximately $15.5 billion in total assets, Eastern Bank continues to expand its commercial banking footprint.
Eastern Bank has welcomed Curate Partners LLC and its subsidiaries as new customers in its Commercial Banking Division by providing an asset-based lending (ABL) line of credit. Curate Partners is a recruitment and consulting agency focusing on digital transformation, serving clients in various sectors including banking and healthcare. Founded in 2014, Curate ranked first among Massachusetts’ Fastest-Growing Private Companies in 2018. Eastern Bank aims to support Curate's operations and expansion with tailored financial solutions.
Eastern Bank has been recognized as a leading lender for small businesses by the U.S. Small Business Administration (SBA), ranking as the No. 1 SBA lender in Massachusetts for the 12th consecutive year. Eastern Bank originated 426 SBA 7(a) loans worth approximately $41.2 million and was also the top 504 lender with 19 loans totaling $12.9 million. The bank delivered around 8,800 PPP loans totaling $1.1 billion, showcasing its commitment to providing critical support to small businesses during the pandemic.
Eastern Insurance Group LLC, a subsidiary of Eastern Bank, has acquired the assets of Campbell, Flaherty & Ring Insurance Agency, Inc., effective December 1, 2020. This marks Eastern Insurance's 32nd acquisition since 2002. The agency, a family-owned business serving the greater Boston area for over 60 years, emphasizes exceptional customer service in personal lines insurance. The acquisition will allow Eastern to enhance customer offerings and maintain high service standards. David Campbell, the agency owner, announced his retirement after decades in the industry.
Eastern Bank announced that Greg Buscone, Executive Vice President and Senior Commercial Banking Officer, has joined the Board of Directors of BDC Capital. BDC Capital focuses on providing financing for growing companies in New England. Buscone emphasized the importance of supporting small- and mid-sized businesses to foster economic growth. He is active in various community organizations and brings extensive experience in business lending. Eastern Bank, founded in 1818, has over $14 billion in total assets and is committed to supporting its local communities.
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.
Eastern Bank announced significant leadership changes, with Nancy Huntington Stager stepping into the full-time role as President and CEO of the Eastern Bank Charitable Foundation, while retaining her position on the Management Committee. Kathleen C. Henry will take on the role of Chief Human Resources Officer in addition to her duties as General Counsel. The bank's IPO has enhanced the foundation's assets to over $220 million, boosting its philanthropic reach. Both leaders are expected to advance the bank's focus on economic inclusion, benefiting the communities served.
Eastern Bankshares, Inc. (EBC) plans to file its third-quarter 2020 financial results on or about November 16, 2020. The Company will not issue a press release or hold a conference call for this quarter. Following its conversion from mutual to stock organization on October 14, 2020, Eastern Bank will provide earnings reports starting in early 2021. Additionally, regulatory filings will occur, with the Call Report to be submitted to FFIEC on October 30, 2020, and other financial statements to the Federal Reserve by November 9, 2020.
Eastern Insurance Group has acquired the assets of Auburn Insurance Agency, a family-owned insurance agency based in Massachusetts. Founded in 1982, Auburn specializes in complex commercial insurance coverage. The acquisition, effective October 1, 2020, marks Eastern Insurance's 31st acquisition since 2002, expanding their presence across 16 states. President Janice Ryan expressed enthusiasm about joining Eastern, highlighting their commitment to customer service and shared values. This move is expected to enhance Eastern's specialty offerings and strengthen customer relationships.
Eastern Bankshares, Inc. (EBC) announced the successful completion of its mutual-to-stock conversion and common stock offering, raising approximately $1.79 billion. A total of 179,287,828 shares were sold at $10.00 each, with 14,940,652 shares allocated to the employee stock ownership plan. The company also donated 7,470,326 shares to the Eastern Bank Charitable Foundation. Trading for EBC is set to commence on the Nasdaq Global Select Market on October 15, 2020. The offering was facilitated by Keefe, Bruyette & Woods, Inc., with J.P. Morgan as the capital markets advisor.
