Newsroom

Eastern Bankshares, Inc.

Eastern Bank-Century Bank Merger Notice

June 10, 2021

THE COMMONWEALTH OF MASSACHUSETTS

Division of Banks

     EASTERN BANK, Boston, Massachusetts has petitioned the Commissioner of Banks for approval to merge with CENTURY BANK AND TRUST COMPANY (CENTURY), Medford, Massachusetts in a multi-step transaction. Under the terms of an Agreement and Plan of Merger, CENTURY will merge with and into EASTERN BANK under the charter, bylaws, and name of EASTERN BANK. This multi-step transaction also includes the merger of CENTURY BANCORP, INC., the holding company for CENTURY, with and into EASTERN BANKSHARES, INC., the holding company for EASTERN BANK. The main office of EASTERN BANK would remain the main office of the continuing institution. As part of this transaction, EASTERN BANK indicates that it will likely further petition the Division for approval to close some branch offices of the continuing institution, but specific EASTERN BANK and CENTURY branch locations have not yet been identified for closing.

     Any objections or comments relative to this proposal must be communicated in writing to the Commissioner of Banks, 1000 Washington Street, 10th Floor, Boston, Massachusetts 02118-6400 or via electronic mail to dob.comments@mass.gov no later than July 14, 2021. A public hearing may be held if the response is considered significant or circumstances warrant such a hearing, as determined by the Commissioner. The application and all communications relative to this application are available from the Division by request at dob.rao@mass.gov.

MARY L. GALLAGHER
Commissioner of Banks

Back to newsroom