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Eastern Bank Announces Two Promotions Within Its Management Committee As Part Of Planned And Long-Term Succession Planning

BOSTON, MA, November 9, 2023  – Eastern Bank is pleased to announce the promotions of two existing Management Committee Members following the October 2023 retirement of Daniel Sullivan, who served at Eastern for 27 years including most recently as Chief Credit Officer: Matthew A. Osborne has been promoted to Executive Vice President and Chief Credit Officer, and Gregory P. Buscone has been promoted to Executive Vice President and Chief Commercial Banking Officer. Their promotions have been part of a long-term succession plan.

“Dan Sullivan was the chief architect of Eastern’s credit process and culture, a longtime strength of the company; we are grateful and thankful for his 27 years of service to Eastern and wish him a very happy and healthy retirement,” said Bob Rivers, CEO and Chair of the Board of Eastern Bankshares, Inc. and Eastern Bank. “To ensure a seamless transition for our teams and customers, I’m delighted to share that two current Management Committee Members have been promoted – Matthew Osborne to Chief Credit Officer and Greg Buscone to Chief Commercial Banking Officer. Matthew most recently led Eastern’s commercial real estate and community development lending teams and is a 25 year veteran of Eastern. As a result, Greg, who has led our middle market lending and international banking teams, will head all of our commercial banking activities. Their promotions have been long planned, and represent our strategic, long-term, and thoughtful succession planning as well as the exceptional talent and bench strength within our organization.”

Matthew A. Osborne joined Eastern Bank in 1998 and as Chief Credit Officer he oversees all credit underwriting, credit training, loan portfolio reviews, managed assets and default management for the Bank. He also oversees the Bank’s Credit Policy Committee and Credit Committee, where credit policies and larger credit requests are approved. Mr. Osborne was promoted in 2019 to Executive Vice President, Senior Commercial Banking Officer, leading the Commercial Real Estate and Community Development Lending Divisions, and in 2023 to Executive Vice President, Chief Credit Officer. Prior to joining Eastern Bank, Mr. Osborne began his career with The Hibernia Savings Bank in Quincy, Massachusetts. He is actively engaged across the South Shore of Massachusetts, and serves as a Board Member of both the Metro South Chamber of Commerce and the South Shore Hospital Charitable Foundation. He is a founding member of the Brockton Partnership, a group dedicated to furthering economic development in the City of Brockton.

Gregory P. Buscone joined Eastern Bank in 2017 as Senior Vice President and Regional Group Head in Commercial Banking, overseeing Eastern’s Commercial & Industrial lending portfolio, and as Chief Commercial Banking Officer he oversees Eastern’s Commercial Loan Portfolio consisting of Commercial Real Estate, Community Development Lending, Middle Market Banking, Specialized Lending, and International Banking. He was promoted in 2019 to Executive Vice President, Senior Commercial Banking Officer and in 2023 to Executive Vice President, Chief Commercial Banking Officer. Previously, he spent 17 years at Citizens Bank, serving as a Senior Vice President and Market Manager for Massachusetts Middle Market and Specialized Lending. Active in the community, Mr. Buscone serves on the Board of Directors of: Bay Cove Human Services where he is Treasurer; Associated Industries of MA, where he is Treasurer and co-chairs its Diversity & Inclusion Committee; and BDC New England. He also serves on the Board of Overseers at Newton Wellesley Hospital and on the Financial Services Committee for the Greater Boston Chamber of Commerce.

About Eastern Bank 
Founded in 1818, Boston-based Eastern Bank has more than 120 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. As of September 30, 2023, Eastern Bank had approximately $21 billion in total assets. Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes, and takes pride in its outspoken advocacy and community support that includes $240 million in charitable giving since 1994. An inclusive company, Eastern is comprised of deeply committed professionals who value relationships with their customers, colleagues and communities. Join us for good at www.easternbank.com and follow Eastern on Facebook, LinkedIn, Twitter and Instagram. Eastern Bankshares, Inc. (Nasdaq Global Select Market: EBC) is the stock holding company for Eastern Bank. For investor information, visit investor.easternbank.com.

Media contact:
Andrea Goodman
Eastern Bank
[email protected]
781-598-7847

Investor contact:
Jill Belliveau
Eastern Bankshares, Inc.
[email protected]
781-598-7920

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