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Eastern Bank was established on April 15, 1818, as Salem Savings Bank and became insured by the Federal Deposit Insurance Corporation on October 1, 1983. [5] On October 19, 1989, Eastern Savings Bank's parent company Lynn, Massachusetts-based Eastern Bank Corporation, renamed it Eastern Bank, and reorganized it into a mutual holding company, making it the first of its kind in Massachusetts.
Liberty Bank locations in Connecticut as of 2017. Liberty Bank is the oldest mutual savings bank in the United States, [1] as well as the third largest bank in Connecticut. [2] Liberty Bank is headquartered in Middletown, Connecticut and has 62 banking offices throughout the state, and one in western Massachusetts. [3]
The bank provides financial services including private banking, checking, deposit, and savings accounts. In addition, Salem Five Bank also offers mortgages, HELOCs, insurance, and commercial lending such as aviation and construction loans. The company headquarters is located at 210 Essex Street in Salem, Massachusetts. [1] [2]
It was chartered in 1818 in Salem, Massachusetts, as the Salem Savings Bank. In 2020, Eastern Bank demutualized and listed its stock on the New York Stock Exchange. Mutual savings banks are common in New England. New Bedford Institution For Savings was founded in 1825, and converted from mutual to stock status in 1987.
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