Eastern Bank wants to help you count your clams. The holding company owns Eastern Bank, which operates approximately 100 branch locations in Massachusetts. Eastern Bank offers retail and commercial products including deposit accounts, investments, and credit cards. Its lending activities are focused on commercial loans and leases, residential mortgages, and consumer loans. Eastern Bank also provides wealth management services through a third-party provider. Insurance subsidiary Eastern Insurance offers personal and commercial coverage, group health and life insurance, employee benefit plans, and 401(k) administration through some 25 locations. Eastern Bank Corporation is mutually owned.
Another subsidiary, Eastern Bank Capital Markets, sells fixed income products such as bonds and money market instruments, while Eastern Investment Advisors serves institutional clients.
In 2010, Eastern Bank Corporation bought Wainwright Bank & Trust, adding a dozen branch locations and approximately $1 billion in assets. The deal also strengthened the company's presence in the Boston area. (Wainwright was merged into Eastern Bank in 2011). Previous acquisitions included the 2007 purchase of Sharon Co-operative Bank and the 2008 takeover of MASSBANK. In addition to buying existing branches, the bank opens new locations in its market. Eastern Bank has also augmented its insurance network by buying several Massachusetts insurance agencies in the past few years. – less