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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.
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[1] The list excludes the following three banks listed amongst the 100 largest by the Federal Reserve but not the Federal Financial Institutions Examination Council because they are not holding companies: Zions Bancorporation ($87 billion in assets), Cadence Bank ($48 billion in assets) and Bank OZK ($36 billion in assets).
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It was a Connecticut state-chartered bank that in 2019 had $7.34 billion in assets, over 800 employees and 58 banking locations throughout Connecticut, Massachusetts and Rhode Island. United Financial Bancorp, Inc., the Bank’s Holding Company , traded on the NASDAQ Global Select Stock Market under the ticker symbol “UBCP”.
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