Eastern Bankshares Inc. is a bank holding company based in Boston, Massachusetts, that operates Eastern Bank, the largest and oldest mutual bank in the United States. The company was founded in 1818, making Eastern Bank the oldest and largest mutual bank in the country. In 2020, Eastern Bankshares went public, with its shares listed on the NASDAQ stock exchange under the ticker symbol "EBC". Eastern Bankshares operates more than 110 branches in Massachusetts, New Hampshire, and Rhode Island, and has more than $14 billion in assets.
Eastern Bank offers a range of personal and commercial banking services, including checking and savings accounts, mortgages, home equity loans, personal loans, and credit cards. The bank also offers wealth management services, including investment management, trust and estate planning, and retirement planning. Eastern Bank has a strong commitment to supporting the communities it serves, with a focus on social and economic justice, affordable housing, and environmental sustainability.
In recent years, Eastern Bank has expanded its digital banking capabilities, with online and mobile banking services that allow customers to manage their accounts, pay bills, transfer funds, and deposit checks remotely. The bank has also introduced new products and services, such as its "Boost" savings account, which offers higher interest rates and cash-back rewards for meeting certain requirements.
Eastern Bank has received numerous awards and recognitions for its commitment to social responsibility, including being named one of the "World's Most Ethical Companies" by Ethisphere Institute for seven consecutive years. The bank has also been recognized for its support of affordable housing and community development, and for its efforts to promote diversity, equity, and inclusion within its own workforce and the broader community.
Despite the challenges posed by the COVID-19 pandemic, Eastern Bankshares has remained financially strong, reporting record earnings in 2020. The company has continued to invest in its digital capabilities, while also expanding its branch network and product offerings to better serve its customers.