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East Boston Savings Bank was established in Maverick Square, East Boston in 1848 by some merchants and shipbuilders, as a result of the booming commerce in Boston. [7] [8] In 1991, East Boston Savings Bank became a wholly owned subsidiary of Meridian Mutual Holding Company, later known as Meridian Financial Services. [citation needed]
On September 1, 1871 it moved to Hyde Park's Neponset Block, where it remained until the building was destroyed by fire on May 5, 1874. The bank relocated temporarily to the town office building in the Everett Block. A new bank building was constructed in 1875. [2] In 1899, the bank moved to a new building in Everett Square. [3]
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The Provident became a wholly owned subsidiary of Hartford National. However, The Provident, which is the fourth-largest savings bank in Massachusetts, will continue to operate under the name it has been using since 1816." [8] The bank kept its original name through 1992. In 1993, the Provident was merged into Shawmut Bank. [9] [10]
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