East Boston Savings Bank

East Boston Savings Bank
Public company
Traded as NASDAQ: EBSB[1]
Russell 2000 Component
Industry Financial services
Founded East Boston, Massachusetts (1848)
Headquarters Peabody, Massachusetts
Number of locations
 33
Key people
 Richard Gavegnano
(Chairman & CEO)
Increase US$ 84.969 million (2012)[2]
Increase US$ 12.426 million (2012)[2]
Total assets Increase US$ 2.278 billion (2012)[2]
Number of employees
 348 (2013)[3]
Website EBSB.com

East Boston Savings Bank is a Massachusetts-chartered stock savings bank that was founded in 1848.[4][5] The company delivers a wide range of deposit and loan products through the operation of the bank.[6]

History

East Boston Savings Bank was established in Maverick Square, East Boston in 1848 by some merchants and shipbuilders, as a result of the booming commerce in Boston.[7][8] 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. The merger was consummated in early 2010 and Mt. Washington Bank now operates under its name as a division of East Boston Savings Bank.[7][9] 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.

References

  1. ↑ traded symbols
  2. 1 2 3 "Selected Financial Data" (PDF).
  3. ↑ Number of Employees
  4. ↑ "Edgar Pro". Yahoo.brand.edgar-online.com. Retrieved 2014-03-17.
  5. ↑ "Meridian Interstate Bancorp Inc (EBSB.O) Company Profile". Reuters.com. Retrieved 2014-03-17.
  6. ↑ "Meridian Interstate Bancorp, Inc.: NASDAQ:EBSB quotes & news - Google Finance". Google.com. 2014-01-28. Retrieved 2014-03-17.
  7. 1 2 "East Boston Savings Bank : Mt. Washington Bank: About Us". Ebsb.com. Retrieved 2014-03-17.
  8. ↑ "EBSB Profile | Meridian Interstate Bancorp, In Stock - Yahoo! Finance". Finance.yahoo.com. Retrieved 2014-03-17.
  9. ↑ "Print - Meridian Interstate Bancorp, Inc. and East Boston Savings Bank Complete Acquisition of Mt. Washington Cooperative Bank". Globenewswire.com. Retrieved 2014-03-17.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.