HarborOne Bancorp Inc. has agreed to merge with Eastern Bankshares Inc. in a stock and cash transaction that is set to be completed by the final quarter of 2025, Eastern said in an April 24 statement.
Eastern Bankshares is the holding company for Eastern Bank, while HarborOne Bancorp is the holding company for HarborOne Bank.
Eastern Bankshares has $25 billion in assets and holds the largest deposit market share in Massachusetts and the Boston metropolitan statistical area of any bank headquartered in Massachusetts. It is also the biggest bank-owned independent investment adviser in Massachusetts, with assets under management valued at $8.4 billion.
HarborOne Bancorp has $5.7 billion in assets and runs 30 banking centers in Massachusetts and Rhode Island. It operates mortgage-lending services under HarborOne Mortgage LLC in New England and other states….