Eastern Bank Corporation, Boston, Massachusetts - approval to acquire Wainwright Bank & Trust Company, Boston, Massachusetts
Overview of Eastern Bank Corporation, Boston, Massachusetts - approval to acquire Wainwright Bank & Trust Company, Boston, Massachusetts
Eastern Bank Corporation (Petitioner), Boston, Massachusetts, has petitioned the Board of Bank Incorporation (Board) pursuant to Massachusetts General Laws, chapter 167A, sections 2 and 4 for approval to acquire Wainwright Bank & Trust Company, (Wainwright Bank), Boston, Massachusetts in a multi-step transaction. The approval of the Board is also required for the establishment of an interim trust company. The Petitioner is the mutual holding company of Eastern Bank, Boston, MA. A related application has been filed with the Division of Banks (Division) for approval of a subsequent merger of Wainwright Bank with and into Eastern Bank. As a result of the merger, the banking offices of Wainwright Bank will become branch offices of Eastern Bank.
In determining whether or not to approve the petition the Board must decide whether competition among banking institutions will be unreasonably affected and whether public convenience and advantage will be promoted by this proposal. A public hearing will be given to all interested parties on the petition before the Board on Tuesday, October 12, 2010 at 10:30 a.m., in Hearing Room 1F, First Floor, 1000 Washington Street, Boston, Massachusetts.
All comments in favor or in protest of this petition, however, must be filed with the Board or the Division by the close of business on October 20, 2010 at the following address. The applications and all communications relative to these matters are available for public inspection at the Division at 1000 Washington Street, 10th Floor, Boston, MA 02118-6400.
Board of Bank
Steven L. Antonakes
Commissioner of Banks
Navjeet K. Bal
Commissioner of Revenue
Timothy P. Cahill
Treasurer and Receiver-General
You will need for Eastern Bank Corporation, Boston, Massachusetts - approval to acquire Wainwright Bank & Trust Company, Boston, Massachusetts
Written comments accepted until October 20, 2010.