East Boston Savings Bank was a Massachusetts-chartered stock savings bank founded in 1848. The company delivered a wide range of deposit and loan products through the operation of the bank. On April 22, 2021, Rockland Trust would be acquiring the bank.

History

East Boston Savings Bank was established in

Maverick Square Maverick Square is a section of the neighborhood of East Boston in Boston, Massachusetts, United States. It is East Boston's oldest commercial center. At the heart of the square is Maverick Station, which is part of the Blue Line of the MBTA. In ...

East Boston East Boston, nicknamed Eastie, is a neighborhood of Boston, Massachusetts annexed by the city of Boston in 1637. Neighboring communities include Winthrop, Revere, and Chelsea. It is separated from the Boston neighborhood of Charlestown and do ...

in 1848 by some merchants and shipbuilders, as a result of the booming commerce in

Boston Boston (), officially the City of Boston, is the state capital and most populous city of the Commonwealth of Massachusetts, as well as the cultural and financial center of the New England region of the United States. It is the 24th- mo ...

. In 1991, East Boston Savings Bank became a wholly owned subsidiary of Meridian Mutual Holding Company, later known as Meridian Financial Services. By, 2006 Meridian formed another holding company called Meridian Interstate Bancorp, to which ownership of the bank was transferred. In 2009, Meridian Interstate entered into a merger agreement with Mt. Washington Cooperative Bank of South Boston,

Massachusetts Massachusetts (Massachusett language, Massachusett: ''Muhsachuweesut assachusett writing systems, məhswatʃəwiːsət'' English: , ), officially the Commonwealth of Massachusetts, is the most populous U.S. state, state in the New England ...

. The merger was consummated in early 2010 and Mt. Washington Bank now operates under its name as a division of East Boston Savings Bank. In July 2014, Meridian Interstate Bancorp consummated a second step stock conversion. Its top tier holding company MFS ceased to exist and a new corporation, Meridian Bancorp, Inc. was established. In May 2020, East Boston Savings Bank has collaborated with nearby restaurants in East Boston, South Boston, Dorchester and Revere to provide over 1,300 meals. In July 2020, East Boston Savings Bank has launched new branches in

Salem Salem may refer to: Places Canada Ontario * Bruce County ** Salem, Arran–Elderslie, Ontario, in the municipality of Arran–Elderslie ** Salem, South Bruce, Ontario, in the municipality of South Bruce * Salem, Dufferin County, Ontario, part ...

and Woburn, and plans to launch the third branch of EBSB in

Brookline Brookline may refer to: Places in the United States * Brookline, Massachusetts, a town near Boston * Brookline, Missouri * Brookline, New Hampshire * Brookline (Pittsburgh), a neighborhood in Pittsburgh, Pennsylvania * Brookline, Vermont See ...

in late summer.

References

{{Reflist, 2 Companies formerly listed on the Nasdaq 1848 establishments in Massachusetts Banks established in 1848 Banks based in Massachusetts Financial services companies of the United States