- Division of Banks
- Office of Consumer Affairs and Business Regulation
The Board of Bank Incorporation virtual hearing previously scheduled to be held on Tuesday, September 9, 2025, at 2:30 pm has been canceled due to Eastern Bankshares, Inc.’s withdrawal of the application to the Board of Bank Incorporation for approval for Eastern Bankshares, Inc., Boston, Massachusetts (Eastern Bankshares) to acquire HarborOne Bancorp, Inc., Brockton, Massachusetts (HarborOne Bancorp).
Eastern Bankshares notified the Board of Bank Incorporation that Eastern Bankshares had updated its intended closing process for the multi-step transaction to acquire HarborOne Bancorp and HarborOne Bank, Brockton, Massachusetts whereby, subject to obtaining all required approvals, Eastern Bankshares now intends to close the merger of HarborOne Bank with and into Eastern Bank, Boston, Massachusetts simultaneously with the closing of the merger of HarborOne Bancorp with and into Eastern Bankshares.
By separate application, Eastern Bank petitioned the Commissioner of Banks for approval for HarborOne Bank to merge with and into Eastern Bank and that bank merger application remains pending before the Division of Banks. Pursuant to Massachusetts General Laws chapter 167A, section 3, because the holding company merger of HarborOne Bancorp with and into Eastern Bankshares would now occur simultaneously with the merger of the subsidiary banks and the subsidiary bank merger is subject to approval by the Commissioner of Banks, Eastern Bankshares’s application to the Board of Bank Incorporation was no longer required under Massachusetts General Laws chapter 167A, sections 2 and 4 and could be withdrawn.
Division of Banks
