Eastern Bank Looks Ahead to Merger Benefits

Eastern Bank closed its merger with Cambridge Trust earlier this month, and executives spent part of the bank’s second-quarter earnings call looking ahead to the deal’s benefits while not expressing any immediate desire to continue expansion. 

Cambridge Trust: Uncertainties Remain Over Fed Rate Hikes

With a resilient job market and consumer spending raising hopes the U.S. economy will achieve a “soft landing,” a top Cambridge Trust banker sees that there remains a risk the Federal Reserve will take its interest rate hikes too far, leading to recession.

Cambridge Trust Sees Q2 Income Drop 42.7 Percent

The second quarter result was strongly influenced by the $3.1 million expense that come with its latest merger and the associated systems conversion. If not for the one-off expense, the company said its operating net income would have decreased by a mere 24.3 percent.