Eastern Bankshares, Inc. Stock Price, News & Analysis

Eastern Bank (NASDAQ:EBC) has appointed Beata Mazen as Senior Vice President, Consumer Banking Strategy Manager. Mazen brings 25 years of experience in sales, customer experience, and consumer banking strategies, including managing operations for up to 1,000 retail locations.

Prior to joining Eastern Bank, Mazen served as SVP, Wealth & Deposit Senior Strategy Manager at Citizens Bank and held leadership positions at Bank of America. She is also the founder of the non-profit Women Supporting Women, focusing on food insecurity and women's aid organizations.

Eastern Bankshares (NASDAQ: EBC) and HarborOne Bancorp (NASDAQ: HONE) have received all necessary regulatory approvals for their previously announced merger. The transaction is expected to close around November 1, 2025, creating a $30 billion community-focused organization.

Following the merger completion, HarborOne Bank will operate as a division of Eastern Bank for approximately four months. The full integration of banking systems is scheduled for February 21, 2026. The merger will strengthen Eastern's presence in Greater Boston and expand its branch network into Rhode Island, combining Eastern's 109 branches with HarborOne's 30 banking centers.

Eastern Bankshares (NASDAQ: EBC) and HarborOne Bancorp (NASDAQ: HONE) announced the mailing of stock/cash election forms for their pending merger. Under the agreement, HarborOne shareholders can choose to receive either 0.765 shares of Eastern common stock, $12.00 in cash per share, or a combination of both.

The election deadline is expected to be 5:00 PM ET on October 28, 2025. The merger, previously approved by HarborOne shareholders on August 20, 2025, is anticipated to close on November 1, 2025, subject to regulatory approvals. The deal structure ensures that 75-85% of HarborOne shares will be converted to Eastern stock, with the remainder receiving cash consideration.

Eastern Bank (NASDAQ:EBC) has announced a new commercial banking relationship with LOUD Security Systems, a leading security systems provider. Eastern Bank is providing $7.5 million in financing to support LOUD's growth initiatives, including a revolving line of credit and treasury management services.

LOUD Security Systems, founded in 1995 and based in Kennesaw, Georgia, serves nearly 13,000 customers across metro Atlanta and 20 states. The company specializes in security, fire, access control, and video systems for residential, commercial, and government customers.

Eastern Bank (NASDAQ:EBC) has announced a new asset-based lending partnership with Genuine Foods, a Boston-based foodservice management company. Genuine Foods, founded in 2013, specializes in providing food services to educational institutions and senior living communities across 16+ states, having delivered over 16 million meals in the past year.

The banking relationship includes a line of credit and treasury management services to support Genuine Foods' business operations and growth. The company's focus aligns with Eastern Bank's commitment to community impact and purpose-driven business practices.

Engageware, a provider of AI-powered customer engagement solutions, has appointed Dan O'Malley as its new Chief Executive Officer. O'Malley brings over 20 years of experience in financial services and technology, most recently serving as Co-Founder and CEO of Numerated, which was acquired by Moody's (NYSE:MCO) in 2024.

O'Malley joins Engageware at a time of significant growth, with the company's AI platform approaching one billion AI interactions and serving over 600 customers, including many of the top 30 U.S. banks. The company's platform integrates three core solutions: AI Agents, appointment scheduling, and knowledge management. Former CEO Rick Lowrey will continue serving as Executive Chairperson.

Eastern Bankshares (NASDAQ: EBC), the holding company for Eastern Bank, has announced its participation in the Barclays 23rd Annual Global Financial Services Conference. CEO Denis Sheahan and CFO David Rosato will engage in a fireside chat on September 8, 2025 at 3:30 PM ET.

Investors can access the live audio webcast through Eastern's investor relations website at investor.easternbank.com, where a replay will also be available after the event.

Eastern Bank (NASDAQ:EBC) has appointed Denise LeMay as Senior Vice President, Head of Foreign Exchange and Derivative Sales in its Commercial Banking division. LeMay brings over 25 years of experience in advising commercial clients on interest rate risk management and derivative products.

Prior to joining Eastern Bank, LeMay served as SVP, Treasury Capital Markets Trading Manager at M&T Bank, where she played a crucial role in the LIBOR to SOFR transition. She previously led the Interest Rate Derivatives program at People's United Bank, transforming it into a key revenue driver.

Eastern Bankshares (NASDAQ: EBC) reported strong Q2 2025 financial results with net income of $100.2 million ($0.50 per diluted share) and operating net income of $81.7 million ($0.41 per diluted share). The bank achieved a return on average assets of 1.60% and return on average tangible equity of 16.44%.

Key highlights include: 8% annualized loan growth, net interest margin expansion of 21 basis points to 3.59%, and improved asset quality with non-performing loans decreasing to 0.30% of total loans from 0.51%. Period-end deposits grew by $424 million to $21.2 billion, primarily driven by municipal balances, while maintaining stable deposit costs.

The company declared a quarterly cash dividend of $0.13 per share and repurchased 183,053 shares at an average price of $16.36. Integration planning with HarborOne is progressing well, focusing on delivering a seamless transition.