Personnel File – No. 430
From new VPs to fresh project managers, see who’s been hired, promoted and honored, it’s our weekly Personnel File roundup.
Eastern Bank Won’t Rule Out a 2025 Merger
With the year 2025 already underway, Eastern Bank executives reflected on the Boston-based bank’s merger with Cambridge Trust last year – and said they were open to another deal this year.
M&A Activity Dominated Banking News in 2024
2024 was another busy year in the Massachusetts banking sphere.
Eastern Bank Outperforms Merger Expectations
In its third-quarter earnings call, Eastern Bank highlighted how it had outperformed merger expectations now that the Cambridge Trust merger is in the rearview mirror.
With Debt Cheaper, Expect Bank M&A Rebound
The fall opened with flurry of bank M&A in Massachusetts, and more deals could be on the horizon as the Federal Reserve follows through on promised rate cuts.
Eastern Names Cambridge Trust Execs to Senior Team
Eastern Bank’s merger with Cambridge Trust, finalized in July, is also seeing the two lenders’ executive teams combine.
Cambridge Trust Wealth Management Names Chief Investment Officer
Eastern Bank has promoted former Cambridge Trust Co. executive Ryan Hanna as the new chief investment officer at Cambridge Trust Wealth Management.
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.
Eastern Completes Merger with Cambridge Trust, Names Rosato CFO
Eastern Bank announced today that its merger with Cambridge Trust has successfully closed.
Eastern-Cambridge Merger Moves Forward with New Board Members
Eastern Bank’s pending merger with Cambridge Trust has taken another step closer to completion with the recent appointment of four Cambridge Trust directors to Eastern’s board.
Eastern, Cambridge Trust Finally Cleared to Merge
After eight months of waiting, Massachusetts’ biggest bank merger deal in years is slated to go ahead.
Eastern Bank Predicts Cambridge Merger Will Close in Q3
Eastern Bank executive said they are highly confident the bank’s merger with Cambridge Trust won’t be delayed much longer.
Eastern Bank-Cambridge Trust Merger Hits Delay
Eastern Bank and Cambridge Trust say their merger, formerly anticipated to close in the first quarter, won’t be completed on schedule.
Lower Costs Improve Q4 Profits for Cambridge Trust
Cambridge Trust recorded a $2.7 million decline in non-interest, non-recurring expenses which resulted in a higher net income in the fourth quarter.
Eastern Bank Moves to Sell Four Non-Performing Loans
Eastern Bank is resolving its three troubled office loans from the third quarter of last year, plus a new non-performing real estate loan that cropped up in the fourth quarter, by selling them at a loss.
Cambridge Trust Earnings, Income Slipped in Q3
In what may prove to be one of its final quarters as an independent bank, Cambridge Trust reported its net income fell 6 percent year-over-year.
Eastern-Cambridge Merger Will Lead to 11 Branch Closures
Eastern Bank said the merger with Cambridge Trust will lead to some branch closures, with many of both banks’ branches less than a mile from each other.
CEO Rivers: Eastern-Cambridge Merger to Create ‘Powerhouse’
The head of Eastern Bank says its proposed $528 million all-stock merger with Cambridge Trust will create a local winner that can challenge Santander for deposit share in Greater Boston.
SVB, First Republic Still Prove Fruitful Hunting Grounds
It’s been almost six months since Silicon Valley Bank and First Republic Bank failed but Massachusetts banks are continuing to hire top-tier talent away from the two failed banks’ successors with the intent of bringing in more business to their books.
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.
