Eastern Bankshares, the stock holding company for Eastern Bank, completed its acquisition of Century Bancorp, the stock holding company for Century Bank and Trust Company. The transaction is valued at approximately $642 million.
Eastern Bank announced A-COM Integrated Solutions (A-COM) as a new commercial banking customer. Founded in 1973, A-COM is a family-owned security, home and business automation company offering services to benefit increasingly mobile lifestyles.
Eastern Bank added Metropolitan Cabinets & Countertops as a new commercial banking customer. Eastern Bank is providing $23 million in financing to the company, including a revolving line of credit as well as financing for various real estate.
Eastern Bank added Boston Warehouse Trading as a new commercial banking customer. Eastern Bank is providing full banking solutions to the company, including a $13 million revolving line of credit for working capital and inventory management as well as treasury management services and solutions.
Eastern Bankshares, the stock holding company for Eastern Bank, and Century Bancorp, the stock holding company for Century Bank and Trust Company, entered into a definitive all-cash merger agreement with an aggregate transaction value of $642 million.
Eastern Bank added Curate Partners and its subsidiaries as new asset-based lending customers in the bank’s commercial banking division. Eastern Bank provided Curate with a $7 million asset-based loan for working capital purposes.
Eastern Bank announced that Donald B. Lewis has joined its Commercial Lending Division as Senior Vice President, Head of Asset Based Lending.
Eastern Bank promoted General Counsel and Corporate Secretary Kathleen C. Henry and Enterprise Risk Management Director Steven L. Antonakes to executive vice president.