The Financial Services and Banking teams advised HarborOne Bancorp (“HarborOne”) on a definitive merger agreement with Eastern Bankshares, Inc. (“Eastern”) pursuant to which HarborOne will merge with and into Eastern in a stock and cash transaction valued at approximately $490 million. The combined company is expected to have $31 billion in assets, $26 billion in deposits, and $8.5 billion in assets under management.
HarborOne Bancorp, Inc. is the holding company for HarborOne Bank, a Massachusetts-chartered trust company. HarborOne Bank serves the financial needs of consumers, businesses, and municipalities throughout Eastern Massachusetts and Rhode Island through a network of 30 full-service banking centers located in Massachusetts and Rhode Island, and commercial lending offices in Boston, Massachusetts and Providence, Rhode Island. HarborOne Bank also provides a range of educational resources through “HarborOne U,” with free digital content, webinars, and recordings for small business and personal financial education. HarborOne Mortgage, LLC, a subsidiary of HarborOne Bank, provides mortgage lending services throughout New England and other states.
For more information on the deal, please read the press release.