Eastern Bankshares, Inc. and HarborOne Bancorp, Inc. Enter Into Definitive Agreement To Merge
Key Highlights:
Merger solidifies Eastern's leading position in Greater Boston while expanding into Rhode Island
Financially compelling transaction with 16% EPS accretion resulting in top quartile operating profitability1
Pro forma balance sheet has robust capital, liquidity and reserves
Eastern Bankshares, Inc. ("Eastern" or "the Company") (NASDAQ:EBC), the holding company for Eastern Bank, and HarborOne Bancorp ("HarborOne") (NASDAQ:HONE), the holding company for HarborOne Bank, today jointly announced they have entered into a definitive merger agreement pursuant to which HarborOne will merge with and into Eastern in a stock and cash transaction.
Under the terms of the merger agr