|
East Boston Savings Bank
East Boston Savings Bank was a Massachusetts-chartered stock savings bank founded in 1848.[3][4] The company delivered a wide range of deposit and loan products through the operation of the bank.[5] On April 22, 2021, Rockland Trust would be acquiring the bank.[6] HistoryEast Boston Savings Bank was established in Maverick Square, East Boston in 1848 by some merchants and shipbuilders, as a result of the booming commerce in Boston.[7][8] In 1991, East Boston Savings Bank became a wholly owned subsidiary of Meridian Mutual Holding Company, later known as Meridian Financial Services.[citation needed] By, 2006 Meridian formed another holding company called Meridian Interstate Bancorp, to which ownership of the bank was transferred.[9] In 2009, Meridian Interstate entered into a merger agreement with Mt. Washington Cooperative Bank of South Boston, Massachusetts. The merger was consummated in early 2010 and Mt. Washington Bank now operates under its name as a division of East Boston Savings Bank.[7][10] In July 2014, Meridian Interstate Bancorp consummated a second step stock conversion. Its top tier holding company MFS ceased to exist and a new corporation, Meridian Bancorp, Inc. was established.[11] In May 2020, East Boston Savings Bank has collaborated with nearby restaurants in East Boston, South Boston, Dorchester and Revere to provide over 1,300 meals.[12] In July 2020, East Boston Savings Bank has launched new branches in Salem and Woburn, and plans to launch the third branch of EBSB in Brookline in late summer.[13] In April 2021, Independent Bank Corp. and Meridian Bancorp, Inc. Sign Merger Agreement for Rockland Trust Company to Acquire East Boston Savings Bank. [14] References
|
||||||||||||||||||||||||||||||
