Eastern Bank Plans to Hold Cash from Securities Sale
Eastern Bank planned to pay off borrowings after selling about 25 percent of its securities portfolio at a loss, but the bank failures just days later changed those plans.
Eastern Bank Declares $194M First-Quarter Loss After Securities Sale
Eastern Bank had a first quarter net loss of $194.1 million after selling a portion of its securities portfolio for a loss.
Eastern Bank to Reduce Operating Expenses
After a record year for commercial loan originations, Boston-based Eastern Bank expects slower loan growth in 2023 and plans to make broad-based reductions in operating expenses.
Eastern Bank Terminates Loan Purchase Program With Embrace
Changes to its outlook for liquidity has led Eastern Bank to discontinue a program launched in July that reduced its securities portfolio by purchasing mortgages.
Eastern Bank to Repurchase More Shares
Eastern Bank’s parent company plans to use more of its capital to buy back up to $200 million worth of stock starting later this month.
Eastern Bank to Buy $80M in Loans Monthly from Embrace
Eastern Bank has entered into an agreement with Rhode Island-based Embrace Home Loans to purchase about $80 million in loans each month as the bank looks to reduce its securities portfolio.
Eastern Bank to Change Overdraft Fee Policy
As more national and local banks continue to reduce or eliminate fees for overdraft and nonsufficient funds, Boston-based Eastern Bank will also make changes to these fees later this year.
Eastern Bank to Sell Marijuana Business to Needham Bank
Eastern Bank has decided not to keep the cannabis banking business that it inherited in November with the acquisition of Century Bank.
Eastern, Rockland Completed Major Mergers Friday
The two mergers involving four of largest Massachusetts-based stock banks were completed on Friday as expected, bringing an end to two long-time fixtures in Greater Boston’s banking landscape.
Eastern to Close Century Deal in Two Weeks
Eastern Bank is now two weeks away from completing its acquisition of Century Bank, and the bank is looking at another opportunity to spend some of the capital raised in last year’s initial public offering.
Eastern Bank Sees Earnings Decline From First Quarter
Eastern Bank saw second quarter earnings decline about 28 percent from the first quarter as it moves through its first year as a publicly traded company.
Eastern Sees Record Quarterly Earnings
Eastern Bank saw record earnings in the first quarter, its first full quarter since going public in October.
Eastern Will Triple Market Share in Key County with Century Deal
Boston-based Eastern Bank will make its first bank acquisition since going public six months ago by acquiring Medford-based Century Bank in an all-cash deal valued at $642 million, a move that will triple Eastern’s market share in Middlesex County and mark its entry into marijuana banking.
Eastern Bank Added to Regional Stock Index
Eastern Bank has been added to a stock index that tracks the performance of publicly traded regional banks in the U.S.
Eastern Bank to Search for M&A Opportunities
After finishing up its first quarter as a public bank, Eastern Bank in the year ahead plans to reduce expenses as it looks to make larger bank acquisitions than it had in the past.
Eastern Bank Goes Public This Week
Massachusetts will get another stock bank this week as Eastern Bank completes its conversion tomorrow and begins trading shares the next day.
