Eastern Bankshares, Inc is a bank holding company for Eastern Bank. It operates in the banking and insurance segments, providing a range of retail and business banking services within the US. Founded in 1818, the company has its headquarters in Boston, Massachusetts.
Eastern Bank provides a range of products and services, including lending, deposit, insurance and wealth management products. The company operates its business through a banking business segment and an insurance agency segment. The bank offers interest checking accounts, savings accounts, demand deposit accounts, money market accounts and time certificates of deposit accounts. The bank provides a variety of loans, including commercial and industrial, commercial real estate, commercial construction, asset-based lending, small business banking, home equity loans and residential real estate.
In November 2021, Eastern Bankshares announced the completion of its acquisition of Century Bancorp, Inc. The transaction was valued at approximately $642m. As of March 2022, the bank has more than 110 locations in eastern Massachusetts and southern and coastal New Hampshire. Eastern Insurance Group LLC is a wholly owned subsidiary of Eastern Bank. Eastern Bankshares stock trades on the NASDAQ GS under the ticker EBC, where it has been listed since October 2020.
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