Eastern Bank and Century Bank Merger Agreement: Information and Resources

 

Eastern Bankshares, Inc. and Century Bancorp, Inc. logos

Eastern Bankshares, Inc. and Century Bancorp, Inc. have announced a definitive agreement to merge. Both banks share deep local roots and are committed to the communities we serve. The anticipated merger will provide Century Bank customers greater access to a broader network of banking services to help meet your financial goals. Many of the familiar faces you have come to know will continue to assist you.

We are excited for the opportunities this agreement creates. Refer here for updates.

 

What to expect

  • The acquisition is expected to close in mid-November 2021, subject to regulatory approval.
  • Both organizations will continue to operate separately until the merger is complete and until then, you should continue to bank as you do today.
  • Over the coming months and as the regulatory approval is completed, we will be communicating proactively with customers including with information on how to prepare for the transition. Century customers will be converted to the Eastern platform with Century Bank branches assuming the Eastern Bank name.
  • As of July 30, 2021, Century Bank customers can use Eastern Bank ATMs for free.

 

Frequently asked questions

Q1: What do customers need to know? What’s changing for them?
  • Both organizations will work towards key regulatory approvals during the coming weeks and months.
  • There are no steps for customers to take in the interim.
  • All of their accounts, ATM cards, credit cards, and online banking accounts will continue to operate as usual. In addition as of July 30, 2021, Century Bank customers can use Eastern Bank ATMs for free.
  • After all conditions of the acquisition are met and the transaction closes, Century customers will then be converting to the Eastern platform and will receive a comprehensive package of information in advance with information on how to prepare for the transition.

 

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