Eastern Bank Announces Merger with HarborOne

Eastern Bankshares, Inc. and HarborOne Bancorp, Inc., the parent company of HarborOne Bank, have entered into an agreement to merge. Both Eastern Bank and HarborOne share deep local roots and a strong commitment to our customers and the communities we serve. The anticipated merger will create a $31 billion bank, further solidifying Eastern as the Greater Boston region’s leading community bank, delivering enhanced value for our customers and shareholders, greater support for our communities, and increased opportunities for our colleagues.

Read the full press release here.

What to Expect Next

When will the merger close?

While the merger is subject to regulatory approvals and other conditions, our goal is to close the transaction after regulatory approval and convert the bank in early 2026.

Upon closing, Eastern intends to merge HarborOne into Eastern and convert HarborOne customers to the Eastern banking and Cambridge Trust Wealth Management, a Division of Eastern Bank, wealth management platforms.

How will the organizations operate?

Both organizations will continue to operate separately until the merger is complete and until then you should continue to bank as you do today.

What does this mean for Eastern Bank and HarborOne customers?

For now, there are no changes in how you bank with us and there is no need to take any action. Your relationship with your banking team also remains the same and we remain committed to serving your needs with the highest quality service.

After the regulatory approval is completed, we will be communicating proactively with you on how to prepare for any transition, if applicable.