Eastern Bank in Boston, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


Eastern Bank - Overview

  • General
  • FDIC Certificate #: 32773
    Status: Active
    Federal Reserve ID: 128904
    Bank Holding Company (Regulatory Top Holder): Eastern Bank Corporation (RSSDID: 1427239, Location: Boston, MA)
    Date Established: October 19, 1989
    WWW: http://www.easternbank.com
    Trust Powers Granted: Yes
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 96 (Domestic: 96, Interstate: No)
    OTS Docket #: 12134
    FDIC's unique #: 45683
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: October 19, 1989
    Last Structure Change Effective Date: March 18, 2011
    Last Structure Change Process Date: March 30, 2011
    Last Data Update: March 30, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 265 Franklin Street, Boston, MA 2110
    County: Suffolk
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: North Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Boston, MA-NH (#1120)
    Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Boston-Cambridge-Quincy, MA-NH (#14460)
    CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
    Core Based Statistical Division: Boston-Quincy, MA (#14484)
  • History of Changes
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $7,812.9 mil
    Equity capital: $961.6 mil
    Deposits held in domestic offices: $6,295.8 mil
    Return on assets (ROA): 1.10% ($85.9 mil)
    Quarterly return on assets: 0.96% ($75.0 mil)
    Return on Equity (ROE): 9.11% ($87.6 mil)
    Quarterly return on equity: 7.80% ($75.0 mil)
    Net income: $84.4 mil
    Quarterly Net income: $18.7 mil
    Pretax return on assets: 1.71% ($133,600.9 mil)
    Quarterly Pretax return on assets: 1.48% ($115,631.2 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 1,525Total employees (full-time equivalent)
  • $7,812,916Total assets
  • $1,456,190Cash and due from depository institutions
  • $1,379,086Interest-bearing balances
  • $1,756,796Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $3,879,554Net loans & leases
  • $77,593Loan loss allowance
  • $48,335Trading account assets
  • $50,459Bank premises and fixed assets
  • $5,100Other real estate owned
  • $277,408Goodwill and other intangibles
  • $7,812,916Life insurance assets
  • $339,074All other assets
  • $6,851,355Total liabilities and capital
  • $6,295,820Total liabilities
  • $4,590,439Total deposits
  • $6,295,820Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 366522.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $10,952Trading liabilities
  • $0Other borrowed funds
  • $178,061Subordinated debt
  • $961,561All other liabilities
  • $961,561Total equity capital
  • $961,561Total bank equity capital
  • $0Perpetual preferred stock
  • $600Common stock
  • $415,646Surplus
  • $545,315Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $21,136Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $58,293Income earned, not collected on loans
  • $0Earning assets
  • $19,574Long-term assets (5+ years)
  • $7,063,771Average Assets, year-to-date
  • $2,617,868Average Assets, quarterly
  • $7,695,209Volatile liabilities
  • $7,826,507Insider loans
  • $4,750,097FHLB advances
  • $7,512,335Loans and leases held for sale
  • $50,855Unused loan commitments
  • $50,855Tier 1 (core) risk-based capital
  • $702,615Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $1,398,689Restructured Loans and leases
  • $39,620Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $273,188Total interest income
  • $14,462Total interest expense
  • $258,726Net interest income
  • $0Provision for loan and lease losses
  • $129,764Total noninterest income
  • $13,267Fiduciary activities
  • $23,900Service charges on deposit accounts
  • $5,259Trading account gains & fees
  • $87,338Additional noninterest income
  • $284,165Total noninterest expense
  • $172,093Salaries and employee benefits
  • $31,933Premises and equipment expense
  • $80,139Additional noninterest expense
  • $104,325Pre-tax net operating income
  • $27,002Securities gains (losses)
  • $46,932Applicable income taxes
  • $84,395Income before extraordinary items
  • $0Extraordinary gains - net
  • $84,437Net income attributable to bank
  • -$42Net charge-offs
  • $84,395Cash dividends
  • $10,948Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.96%Yield on earning assets
  • 0.21%Cost of funding earning assets
  • 3.75%Net interest margin
  • 1.88%Noninterest income to earning assets
  • 4.12%Noninterest expense to earning assets
  • 0.87%Net operating income to assets
  • 1.10%Return on assets (ROA)
  • 1.71%Pretax return on assets
  • 9.11%Return on equity (ROE)
  • 9.11%Retained earnings to average equity (YTD only)
  • 0.28%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 9.53%Efficiency ratio
  • 72,052Assets per employee
  • 5.12%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.96%Loss allowance to noncurrent loans
  • 133.11%Noncurrent assets plus other real estate owned to assets
  • 0.96%Noncurrent loans to loans
  • 1.47%Net loans and leases to deposits
  • 61.62%Net loans and leases to core deposits
  • 63.13%Equity capital to assets
  • 12.31%Core capital (leverage) ratio
  • 9.35%Tier 1 risk-based capital ratio
  • 14.79%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $7,695,209Average earning assets
  • $926,589Average equity
  • $6,901,914Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $1,627,138Managed Assets
  • 1Number of Accounts
  • $1,595,265Personal trust and agency accounts
  • $724,303Employee benefit-defined contribution accounts
  • $71,499Employee benefit-defined benefit accounts
  • $6,765Other retirement accounts
  • $193,370Corporate trust and agency accounts
  • $5,704Investment management agency accounts
  • $348,282Other fiduciary accounts
  • $245,342Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 3502Number of Accounts
  • $0Personal trust and agency accounts
  • $188,462Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $31,873Other retirement accounts
  • $6,325Corporate trust and agency accounts
  • $15,170Other fiduciary accounts
  • $10,152Fiduciary accounts held in foreign offices

List of branches

  • 94 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    045683Eastern Bank265 Franklin Street, Boston, MA 2110October 19, 1989Full Service Brick and Mortar
    4291451Enon Street Branch33 Enon Street, Beverly, MA 1915December 04, 1978Full Service Brick and Mortar
    517822Washington Street Branch125 Washington Street, Salem, MA 1970January 01, 1826Full Service Brick and Mortar
    7291299Lynngate Branch156 Boston Street, Lynn, MA 1904January 01, 1826Full Service Brick and Mortar
    8291301Lynnfield Branch Route One771 Salem Street, Lynnfield, MA 1940January 01, 1826Full Service Brick and Mortar
    10291303Wakefield Branch445 Main Street, Wakefield, MA 1880January 16, 1978Full Service Brick and Mortar
    11291304Lynn Street Peabody Branch102 Lynn Street, Peabody, MA 1960January 31, 1978Full Service Brick and Mortar
    12291452Melrose Branch441 Main Street, Melrose, MA 2176July 01, 1981Full Service Brick and Mortar
    13180874Loring Avenue Branch72 Loring Avenue, Salem, MA 1970October 27, 1971Full Service Brick and Mortar
    14180875Pickering Wharf Branch19 Congress Street, Salem, MA 1970April 14, 1975Full Service Brick and Mortar
    15180876Ryalside Branch81 Bridge Street, Beverly, MA 1915Febuary 02, 1976Full Service Brick and Mortar
    19193646Storey Avenue Branch17 Storey Avenue, Newburyport, MA 1950Febuary 08, 1978Full Service Brick and Mortar
    265198Pleasant Street Branch94 Pleasant Street, Malden, MA 2148December 01, 1896Full Service Brick and Mortar
    28218058Stoneham Branch163 Main Street, Stoneham, MA 2180December 01, 1960Full Service Brick and Mortar
    3616213Market Street Branch112 Market Street, Lynn, MA 1901May 15, 1855Full Service Brick and Mortar
    39291295Vinnin Square Branch405 Paradise Road, Swampscott, MA 1907December 28, 1967Full Service Brick and Mortar
    40291296Highlander Branch6 Traders Way, Salem, MA 1970October 18, 1976Full Service Brick and Mortar
    4114116Liberty Tree Branch4 Federal Street, Danvers, MA 1923August 24, 1971Full Service Brick and Mortar
    43255957Lynnfield Branch45 Salem Street, Lynnfield, MA 1940October 20, 1984Full Service Brick and Mortar
    44255958Foster Street Peabody Branch37 Foster Street, Peabody, MA 1960May 27, 1992Full Service Brick and Mortar
    456213Cliftondale Branch466 Lincoln Avenue, Saugus, MA 1906June 15, 1928Full Service Brick and Mortar
    46221079Saugus Center Branch13 Main Street, Saugus, MA 1906October 28, 1957Full Service Brick and Mortar
    47221080Lynnfells Branch605 Broadway, Saugus, MA 1906January 26, 1983Full Service Brick and Mortar
    48289026Shaw's Peabody BranchEssex Center Drive, Peabody, MA 1960May 22, 1996Full Service Retail
    49289027Marblehead Branch118 Washington Street, Marblehead, MA 1945May 20, 1997Full Service Brick and Mortar
    50289028Middlesex Commons Branch43 Middlesex Turnpike, Suite 10, Burlington, MA 1803June 30, 1997Full Service Brick and Mortar
    5215306Wollaston Branch731 Hancock Street, Quincy, MA 2170May 21, 1912Full Service Brick and Mortar
    53253988Braintree Branch51 Commercial Street, Braintree, MA 2184May 10, 1980Full Service Brick and Mortar
    55253990Weymouth Branch1150 Washington Street, Weymouth, MA 2189September 04, 1990Full Service Brick and Mortar
    56253992Hingham Branch274 Main Street, Hingham, MA 2043July 17, 1995Full Service Brick and Mortar
    58253994Stoughton Branch397 Washington Street, Stoughton, MA 2072December 21, 1995Full Service Brick and Mortar
    59253995Quincy Branch63 Franklin Street, Quincy, MA 2169November 14, 1996Full Service Brick and Mortar
    60253996South Boston Branch470 West Broadway, South Boston, MA 2127July 07, 1997Full Service Brick and Mortar
    61289030Marshfield Branch1932 Ocean Street, Marshfield, MA 2050March 23, 1998Full Service Brick and Mortar
    64340835Brooksby Village Branch100 Brooksby Village Drive, Peabody, MA 1960June 05, 2000Full Service Brick and Mortar
    65193616Canton Branch39 Washington Street, Canton, MA 2021July 11, 1966Full Service Brick and Mortar
    66193388Norwell Branch80 Washington Street, Norwell, MA 2061November 26, 1962Full Service Brick and Mortar
    67193700Stonehill Branch1313 Belmont Street, Brockton, MA 2301November 20, 1972Full Service Brick and Mortar
    68180866Randolph Branch35 Memorial Parkway, Randolph, MA 2368May 13, 1965Full Service Brick and Mortar
    71418877Shaw's East Boston Branch246 Border Street, East Boston, MA 2128April 07, 2003Full Service Retail
    74423269Dedham Mall Branch240 Providence Highway, Dedham, MA 2026November 10, 2003Full Service Brick and Mortar
    7557025Needham Street Branch188 Needham Street, Newton, MA 2464June 02, 1997Full Service Brick and Mortar
    76430741Newton Branch2060 Commonwealth Avenue, Auburndale, MA 2466July 19, 2004Full Service Brick and Mortar
    77433417Lexington Branch1833 Massachusetts Ave, Lexington, MA 2420November 29, 2004Full Service Brick and Mortar
    78433418300 Brooksby Village Branch300 Brooksby Village Drive, Peabody, MA 1960November 22, 2004Full Service Brick and Mortar
    7916443Wareham Branch226 Main Street, Wareham, MA 2571March 12, 1847Full Service Brick and Mortar
    8017883Plymouth Branch36 Main Street, Plymouth, MA 2360January 01, 1847Full Service Brick and Mortar
    81291523Falmouth Branch117 Main Street, Falmouth, MA 2540January 01, 1847Full Service Brick and Mortar
    82291423Mattapoisett Branch29 County Road, Mattapoisett, MA 2739September 16, 1974Full Service Brick and Mortar
    83291424Marion Branch340 Front Street, Marion, MA 2738October 18, 1976Full Service Brick and Mortar
    84291425Depot Street Branch19 Depot Street, Duxbury, MA 2332September 19, 1977Full Service Brick and Mortar
    85291426Sandwich Center Branch65c Route 6a, Sandwich, MA 2563November 07, 1977Full Service Brick and Mortar
    86256346Sandwich Road Branch4 Sandwich Road, Falmouth, MA 2536August 30, 1982Full Service Brick and Mortar
    87256565Cotuit Branch3821 Falmouth Road/Route 28, Marstons Mills, MA 2648October 05, 1985Full Service Brick and Mortar
    88256347Campanelli Drive Branch151 Campanelli Drive, Middleboro, MA 2346January 16, 1990Full Service Brick and Mortar
    8917831Middleboro BranchOne South Main Street, Middleboro, MA 2346January 01, 1873Full Service Brick and Mortar
    90291334Lakeville Branch348 Bedford Street, Lakeville, MA 2347October 02, 1976Full Service Brick and Mortar
    91256348Mashpee Branch6 Shellback Way, Mashpee, MA 2649September 06, 1989Full Service Brick and Mortar
    92256349East Wareham Branch3003 Cranberry Highway, East Wareham, MA 2538August 14, 1995Full Service Brick and Mortar
    93256350West Plymouth Branch71 Carver Road, West Plymouth, MA 2360August 21, 1995Full Service Brick and Mortar
    94256351Kingston Branch108 Main Street, Kingston, MA 2364December 11, 1995Full Service Brick and Mortar
    96423240Taunton Branch742 County Street, Taunton, MA 2780September 28, 2003Full Service Brick and Mortar
    97446178Natick Branch2 South Avenue, Natick, MA 1760November 21, 2005Full Service Brick and Mortar
    9933087Sharon Main Office7 South Main Street, Sharon, MA 2067January 01, 1912Full Service Brick and Mortar
    100480340Everett Avenue Chelsea Branch90 Everett Avenue, Chelsea, MA 2150August 18, 2008Full Service Brick and Mortar
    10115339Massbank Main Office123 Haven Street, Reading, MA 1867April 05, 1872Full Service Brick and Mortar
    102291332Wilmington Branch219 Lowell Street, Wilmington, MA 1887November 01, 1974Full Service Brick and Mortar
    103254058Melrose Towers Branch27 Melrose Street, Melrose, MA 2176September 12, 1975Full Service Brick and Mortar
    106291440Wilmington Branch370 Main Street, Wilmington, MA 1887January 01, 1891Full Service Brick and Mortar
    107242799Wellington Circle Branch53 Locust Street, Medford, MA 2155January 08, 1977Full Service Brick and Mortar
    108275083Chelmsford Branch291 Chelmsford Street, Chelmsford, MA 1824January 01, 1892Full Service Brick and Mortar
    10917816Lowell/Central Branch50 Central Street, Lowell, MA 1852March 03, 1871Full Service Brick and Mortar
    110291257Chelmsford Branch17 North Road, Chelmsford, MA 1824July 01, 1974Full Service Brick and Mortar
    111291258Westford Branch203 Littleton Road, Westford, MA 1886September 09, 1974Full Service Brick and Mortar
    112291259Lakeview Branch755 Lakeview Avenue, Lowell, MA 1850November 01, 1977Full Service Brick and Mortar
    113291260Main Street Branch1800 Main Street Route 38, Tewksbury, MA 1876March 11, 1985Full Service Brick and Mortar
    114291261Dracut Branch45 Broadway Road, Dracut, MA 1826June 05, 1987Full Service Brick and Mortar
    11535271738 Broadway Branch738 Broadway, Everett, MA 2149January 01, 1928Full Service Brick and Mortar
    116493877Hyannis Branch375 Iyannough Road, Hyannis, MA 2601July 27, 2009Full Service Brick and Mortar
    117511684Andover Branch60 Main Street, Andover, MA 1810August 16, 2010Full Service Brick and Mortar
    118515757West Roxbury Branch2029 Centre Street, West Roxbury, MA 2132January 03, 2011Full Service Brick and Mortar
    11936451Downtown Crossing Branch63 Franklin St, Boston, MA 2110July 27, 1987Full Service Brick and Mortar
    121244775Harvard Square BranchOne Brattle Square, Cambridge, MA 2138November 01, 1967Full Service Brick and Mortar
    122244776Kendall Square BranchOne Broadway, Cambridge, MA 2142December 14, 1970Full Service Brick and Mortar
    123260622Fresh Pond Mall Branch176 Alewife Brook Parkway, Cambridge, MA 2138December 12, 1994Full Service Brick and Mortar
    124260623Back Bay Station Branch155 Dartmouth Street, Boston, MA 2116June 01, 1995Full Service Brick and Mortar
    125260624Jamaica Plain Branch687 Centre Street, Jamaica Plain, MA 2130June 29, 1999Full Service Brick and Mortar
    126359998Watertown Square BranchOne Church Street, Watertown, MA 2472September 25, 2000Full Service Brick and Mortar
    127361462Central Square Branch647 Massachusetts Avenue, Cambridge, MA 2139May 14, 2001Full Service Brick and Mortar
    128363182Davis Square Branch250 Elm Street, Somerville, MA 2144Febuary 19, 2002Full Service Brick and Mortar
    129444145Brookline Branch301 Harvard Street, Brookline, MA 2446July 25, 2005Full Service Retail
    130444908Newton Branch1255 Centre Street, Newton, MA 2459September 26, 2005Full Service Retail
    131481503Dorchester Branch1906 Dorchester Avenue, Dorchester, MA 2124October 14, 2008Full Service Retail
    132526220Lawrence Branch486 Essex Street, Lawrence, MA 1840October 11, 2011Full Service Brick and Mortar

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