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East Boston Savings Bank Parent To Begin Community Stock Offering

Jun 11, 2014 | Reprints | Unlock Link | Print

Meridian Interstate Bancorp, the holding company for East Boston Savings Bank, this week announced the beginning of its community stock offering, part of the company’s plans to go fully public.

The community offering will happen concurrently with the company’s subscription offering and will expire at 5 p.m. on June 20. Meridian will give preference to residents of Belmont, Boston, Cambridge, Chelsea, Danvers, Everett, Lynn, Lynnfield, Malden, Medford, Melrose, Peabody, Revere, Saugus, Somerville, Wakefield and Winthrop, and then to the company’s stakeholders as of April 30.

East Boston Savings Bank is one of five mutual banks in the state that have announced plans to go public this year.

Banking & Lending