Eastern Bank has not yet identified which branches will close as part of its merger with Century Bank, but the state bank regulator expects Eastern to seek approval for branch closures, according to the latest public notice for the proposed merger.
Boston-based Eastern had announced in April that it would make its first bank acquisition since going public last year by acquiring Medford-based Century Bank in an all-cash deal valued at $642 million.
Because of overlap between the two branch footprints, Eastern Bank had said the merger would involve branch consolidations. The Massachusetts Division of Banks said in a public notice that Eastern Bank would likely petition for approval to close some branch offices but had not identified which Eastern and Century branches would close.
Century has 27 branches in the Greater Boston area and recently opened its first New Hampshire branch in Salem. Eastern has approximately 90 bank branches in Eastern Massachusetts and New Hampshire.
Almost all of Century Bank’s Greater Boston branches are within 3 miles of an Eastern branch, and more than 60 percent are within one mile of an Eastern location, according to an investor presentation regarding the merger.
Rockland Trust, which also announced merger plans in April, has identified 18 branches that would close as a result of its acquisition of East Boston Savings Bank.






