Eastern Bank Mortgage Rates, Fees & Info

Boston, MA

LEI: X8V2II80XTQHRH7NCB19

Tax ID: 04-3067724

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Eastern Bank is a smaller bank specializing in Refi and Home Purchase loans. Eastern Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Boston, Barnstable Town, Manchester, Providence, and Worcester among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Eastern Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Eastern Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 5.04% 12/3/24
    30 Year Conventional Purchase 5.63% 12/3/24
    30 Year Conventional Refi 6.31% 12/3/24
    30 Year Cash-out Refi 6.12% 12/3/24
    30 Year FHA Purchase 6.92% 12/3/24
    30 Year VA Purchase 6.84% 12/3/24
    30 Year USDA Purchase 6.76% 12/3/24
    15 Year Conventional Purchase 4.22% 12/3/24
    15 Year Conventional Refi 5.65% 12/3/24
    15 Year Cash-out Refi 5.65% 12/3/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Eastern Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Eastern Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    3,948

    Origination Dollar Volume (All Markets)

    $988,040,000

    Employee count

    1,821 Show all (7) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 3,373 $825,805,000 $244,828 $3,742 4.24%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 257 $47,255,000 $183,872 $3,538 4.24%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 55 $40,695,000 $739,909 $3,189 4.33%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 160 $40,630,000 $253,938 $4,030 4.35%
    WORCESTER, MA-CT (FHA|USDA|VA) 37 $8,155,000 $220,405 $4,496 4.44%
    Outside of Metro Areas 13 $6,695,000 $515,000 $4,313 4.20%
    Concord, NH (FHA|USDA|VA) 19 $4,505,000 $237,105 $4,507 4.49%
    Laconia, NH (FHA|USDA|VA) 5 $3,675,000 $735,000 $3,893 4.07%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2 $3,460,000 $1,730,000 $0 5.50%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 12 $2,560,000 $213,333 $4,707 4.75%
    Vineyard Haven, MA (FHA|USDA|VA) 5 $1,255,000 $251,000 $0 4.20%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 2 $1,130,000 $565,000 $5,204 3.81%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $770,000 $385,000 $3,678 3.50%
    Lebanon, NH-VT (FHA|USDA|VA) 2 $620,000 $310,000 $3,241 3.94%
    SPRINGFIELD, MA (FHA|USDA|VA) 2 $420,000 $210,000 $3,341 3.88%
    Keene, NH (FHA|USDA|VA) 1 $225,000 $225,000 $0 5.67%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $185,000 $185,000 $0 3.99%
    Eastern Bank's top markets include Boston, Barnstable Town, Manchester, Providence, and Worcester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Eastern Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Westport Federal Credit Union
    Similarity Rank: 23
    Notre Dame Community Federal Credit Union
    Similarity Rank: 38
    PAWTUCKET
    Similarity Rank: 60
    Bank of Easton
    Similarity Rank: 66
    SOMERSET
    Similarity Rank: 99
    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Members First Credit Union N.H.
    Similarity Rank: 119
    Charter Oak Federal Credit Union
    Similarity Rank: 120
    Martha's Vineyard Savings Bank
    Similarity Rank: 128

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 2,795 $382,155,000 $136,728 n/a 4.23%
    Conventional 1,111 $592,945,000 $533,704 $3,567 4.32%
    FHA 37 $11,295,000 $305,270 $8,883 4.33%
    USDA 3 $595,000 $198,333 $5,712 4.21%
    VA 2 $1,050,000 $525,000 $11,054 4.56%

    For 2018, Eastern Bank's most frequently originated type of loan was HELOC, with 2,795 originations. Their 2nd most popular type was Conventional, with 1,111 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 1,387 $159,235,000 $114,805 $3,030 4.22%
    Refi 1,044 $216,380,000 $207,261 $3,350 4.26%
    Home Purchase 718 $408,000,000 $568,245 $4,028 4.34%
    Other 502 $69,240,000 $137,928 $3,444 4.21%
    Cash Out Refi 297 $135,185,000 $455,168 $3,360 4.26%

    For 2018, Eastern Bank's most frequently cited loan purpose was Home Improvement, with 1,387 originations. The 2nd most popular reason was Refi, with 1,044 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 2,815 $406,515,000 $144,410 $3,053 4.24%
    30 Year 928 $368,150,000 $396,713 $3,883 4.29%
    15 Year 106 $32,040,000 $302,264 $3,049 3.73%
    10 Year 64 $135,560,000 $2,118,125 $3,341 5.20%
    20 Year 25 $8,465,000 $338,600 $3,108 4.62%
    1 Year 4 $2,020,000 $505,000 $0 5.52%
    5 Year 4 $4,030,000 $1,007,500 $0 4.51%
    3 Year 2 $31,260,000 $15,630,000 $0 5.24%

    For 2018, Eastern Bank's most frequently cited loan duration was Other, with 2,815 originations. The 2nd most popular length was 30 Year, with 928 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 979 $379,035,000 $387,165
    $2k-3k 26 $10,510,000 $404,231
    $3k-4k 12 $4,010,000 $334,167
    $5k+ 4 $2,990,000 $747,500
    $4k-5k 3 $765,000 $255,000
    $<1k 2 $880,000 $440,000

    Eastern Bank's average total fees were $3,883, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 979 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,920 $448,450,000 $233,568
    3-4% 1,844 $397,340,000 $215,477
    5-6% 160 $100,990,000 $631,188
    6-7% 14 $3,870,000 $276,429
    <2.5% 7 $45,000 $6,429
    2.5-3% 2 $1,340,000 $670,000

    During 2018, Eastern Bank's average interest rate for loans was 4.29%, while their most frequently originated rate bucket for loans was 4-5%, with 1,920 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,222 $66,540,000 $54,452 $1,821 4.23%
    $200k-400k 1,127 $299,045,000 $265,346 $3,679 4.30%
    $100k-200k 1,072 $144,350,000 $134,655 $3,076 4.24%
    $400k-600k 325 $156,875,000 $482,692 $3,990 4.24%
    $600k-1MM 146 $105,040,000 $719,452 $4,637 4.13%
    $1MM+ 56 $216,190,000 $3,860,536 $5,549 4.37%

    2018 saw Eastern Bank place emphasis on $100,000 or less loans with 1,222 originations, totaling $66,540,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,028 $194,820,000 $189,514 $3,868 4.25%
    $150k-250k 882 $201,300,000 $228,231 $3,837 4.20%
    $75k-100k 605 $102,065,000 $168,702 $3,700 4.26%
    $50k-75k 573 $82,835,000 $144,564 $3,392 4.27%
    $250k+ 466 $173,940,000 $373,262 $4,363 4.15%
    $50k or less 264 $29,700,000 $112,500 $3,309 4.34%

    Eastern Bank lent most frequently to those with incomes in the $100k-150k range, with 1,028 originations. The second most popular income band? $150k-250k, with 882 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 974 $183,760,000 $188,665 $3,500 4.22%
    30-36% 741 $153,485,000 $207,132 $3,656 4.21%
    <20% 458 $81,240,000 $177,380 $3,273 4.16%
    42% 247 $68,275,000 $276,417 $3,965 4.20%
    41% 165 $40,665,000 $246,455 $3,970 4.17%
    40% 163 $38,255,000 $234,693 $3,955 4.25%
    38% 157 $37,925,000 $241,561 $4,186 4.23%
    43% 154 $25,130,000 $163,182 $3,589 4.25%
    39% 143 $27,545,000 $192,622 $4,051 4.26%
    37% 136 $30,080,000 $221,176 $3,888 4.21%
    36% 122 $23,260,000 $190,656 $3,703 4.35%
    44% 118 $19,640,000 $166,441 $3,661 4.32%
    45% 78 $13,890,000 $178,077 $3,850 4.27%
    46% 68 $15,060,000 $221,471 $4,289 4.40%
    47% 45 $8,745,000 $194,333 $3,633 4.47%
    48% 40 $8,700,000 $217,500 $4,047 4.48%
    49% 27 $8,105,000 $300,185 $4,889 4.43%
    50-60% 21 $4,935,000 $235,000 $7,299 4.31%
    >60% 3 $465,000 $155,000 $0 4.33%

    Eastern Bank lent most frequently to those with DTI ratios of 20-30%, with 974 originations. The next most common DTI ratio? 30-36%, with 741 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,144 $634,380,000 $201,775 $3,754 4.23%
    Not applicable 73 $192,705,000 $2,639,795 $0 5.41%
    Not provided 386 $85,630,000 $221,839 $3,865 4.22%
    Asian 158 $43,720,000 $276,709 $3,712 4.22%
    Black 145 $25,225,000 $173,966 $4,147 4.27%
    American Indian 15 $1,755,000 $117,000 $2,662 4.23%
    Asian Indian 7 $1,555,000 $222,143 $3,980 4.16%
    Other Asian 9 $1,025,000 $113,889 $0 4.08%
    Native Hawaiian or Islander 4 $600,000 $150,000 $0 4.25%
    Other Pacific Islander 2 $460,000 $230,000 $4,201 4.50%
    Vietnamese 2 $370,000 $185,000 $0 4.85%
    Chinese 2 $370,000 $185,000 $0 4.00%
    Samoan 1 $245,000 $245,000 $0 3.99%

    Approval Rates

    Total approvals of all applications
    74.24%

    Eastern Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    88.70%

    Eastern Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,948 $988,040,000 $250,263

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $1,675,000 $1,675,000
    Multifamily:Site-Built 45 $175,905,000 $3,909,000
    Single Family (1-4 Units):Site-Built 3,902 $810,460,000 $207,704

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,094 $183,280,000 $167,532 $3,055 4.21%
    40-60% 493 $162,035,000 $328,671 $3,355 4.25%
    60-80% 516 $322,320,000 $624,651 $3,631 4.39%
    80-100% 458 $189,170,000 $413,035 $4,245 4.30%
    Over 100% 11 $30,185,000 $2,744,091 $18,901 5.36%
    Under 20% 1,376 $101,050,000 $73,438 $1,885 4.22%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    EASTERN BANKSHARES INC Conventional home mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Eastern Bank 1 Atwood Lane Bedford, NH 3110 Full Service B&M $174,022
    Eastern Bank 100 Brooksby Village Drive Peabody, MA 1960 Full Service B&M $41,396
    Eastern Bank 108 Main Street Kingston, MA 2364 Full Service B&M $45,659
    Eastern Bank 11 South Main Street Concord, NH 3301 Full Service B&M $61,026
    Eastern Bank 11 Trafalgar Square Nashua, NH 3063 Full Service B&M $14,756
    Eastern Bank 110 Main Street Bridgewater, MA 2324 Full Service B&M $37,997
    Eastern Bank 112 Market Street Lynn, MA 1901 Full Service B&M $139,230
    Eastern Bank 1150 Washington Street Weymouth, MA 2189 Full Service B&M $67,710
    Eastern Bank 118 Washington Street Marblehead, MA 1945 Full Service B&M $33,538
    Eastern Bank 123 Haven Street Reading, MA 1867 Full Service B&M $114,770
    Eastern Bank 1255 Centre Street Newton, MA 2459 Full Service Retail $33,248
    Eastern Bank 1265 Belmont Street Brockton, MA 2301 Full Service B&M $149,358
    Eastern Bank 139 Washington Street Salem, MA 1970 Full Service B&M $42,456
    Eastern Bank 1413 Tremont Street Boston, MA 2120 Full Service B&M $1,174
    Eastern Bank 151 Campanelli Drive Middleboro, MA 2346 Full Service B&M $31,113
    Eastern Bank 155 Dartmouth Street Boston, MA 2116 Full Service B&M $106,210
    Eastern Bank 156 Boston Street Lynn, MA 1904 Full Service B&M $128,759
    Eastern Bank 1560 Old Post Road Marstons Mills, MA 2648 Full Service B&M $41,861
    Eastern Bank 163 Deer Street Portsmouth, NH 3801 Full Service B&M $50,540
    Eastern Bank 163 Main Street Stoneham, MA 2180 Full Service B&M $127,913
    Eastern Bank 17 Storey Avenue Newburyport, MA 1950 Full Service B&M $103,457
    Eastern Bank 176 Alewife Brook Parkway Cambridge, MA 2138 Full Service B&M $43,119
    Eastern Bank 1800 Main Street Route 38 Tewksbury, MA 1876 Full Service B&M $44,636
    Eastern Bank 1833 Massachusetts Ave Lexington, MA 2420 Full Service B&M $37,230
    Eastern Bank 188 Needham Street Newton, MA 2464 Full Service B&M $93,931
    Eastern Bank 19 Congress Street Salem, MA 1970 Full Service B&M $49,434
    Eastern Bank 19 Depot Street Duxbury, MA 2332 Full Service B&M $53,682
    Eastern Bank 1906 Dorchester Avenue Dorchester, MA 2124 Full Service Retail $28,105
    Eastern Bank 1932 Ocean Street Marshfield, MA 2050 Full Service B&M $60,282
    Eastern Bank 2 South Avenue Natick, MA 1760 Full Service B&M $53,171
    Eastern Bank 203 Littleton Road Westford, MA 1886 Full Service B&M $61,022
    Eastern Bank 2060 Commonwealth Avenue Auburndale, MA 2466 Full Service B&M $32,785
    Eastern Bank 226 Main Street Wareham, MA 2571 Full Service B&M $67,254
    Eastern Bank 240 Providence Highway Dedham, MA 2026 Full Service B&M $81,536
    Eastern Bank 246 Border Street East Boston, MA 2128 Full Service Retail $32,717
    Eastern Bank 250 Elm Street Somerville, MA 2144 Full Service B&M $43,152
    Eastern Bank 265 Franklin Street Boston, MA 2110 Full Service B&M $2,354,981
    Eastern Bank 274 Main Street Hingham, MA 2043 Full Service B&M $69,699
    Eastern Bank 276 Quincy Street Brockton, MA 2302 Full Service B&M $39,090
    Eastern Bank 287 3rd St Cambridge, MA 2142 Full Service B&M $30,279
    Eastern Bank 29 County Road Mattapoisett, MA 2739 Full Service B&M $53,015
    Eastern Bank 291 Chelmsford Street Chelmsford, MA 1824 Full Service B&M $95,366
    Eastern Bank 300 Brooksby Village Drive Peabody, MA 1960 Full Service B&M $25,048
    Eastern Bank 3003 Cranberry Highway East Wareham, MA 2538 Full Service B&M $59,307
    Eastern Bank 301 Harvard Street Brookline, MA 2446 Full Service Retail $39,755
    Eastern Bank 33 Enon Street Beverly, MA 1915 Full Service B&M $77,217
    Eastern Bank 339 Squire Road Revere, MA 2151 Full Service B&M $435
    Eastern Bank 34 Chapman Street Quincy, MA 2170 Full Service B&M $171,691
    Eastern Bank 340 Front Street Marion, MA 2738 Full Service B&M $78,855
    Eastern Bank 35 Memorial Parkway Randolph, MA 2368 Full Service B&M $78,108
    Eastern Bank 36 Main Street Plymouth, MA 2360 Full Service B&M $30,418
    Eastern Bank 37 Foster Street Peabody, MA 1960 Full Service B&M $131,065
    Eastern Bank 370 Main Street Wilmington, MA 1887 Full Service B&M $88,561
    Eastern Bank 375 Iyannough Road Hyannis, MA 2601 Full Service B&M $27,164
    Eastern Bank 397 Washington Street Stoughton, MA 2072 Full Service B&M $61,949
    Eastern Bank 4 Federal Street Danvers, MA 1923 Full Service B&M $225,696
    Eastern Bank 405 Paradise Road Swampscott, MA 1907 Full Service B&M $205,446
    Eastern Bank 41 Hooksett Road Manchester, NH 3104 Full Service B&M $58,932
    Eastern Bank 420 Common Street Lawrence, MA 1840 Full Service B&M $549
    Eastern Bank 43 Middlesex Turnpike, Suite 10 Burlington, MA 1803 Full Service B&M $72,815
    Eastern Bank 441 Main Street Melrose, MA 2176 Full Service B&M $194,917
    Eastern Bank 445 Main Street Wakefield, MA 1880 Full Service B&M $143,224
    Eastern Bank 45 Broadway Road Dracut, MA 1826 Full Service B&M $54,135
    Eastern Bank 45 Main Street Lakeville, MA 2347 Full Service B&M $94,222
    Eastern Bank 45 Salem Street Lynnfield, MA 1940 Full Service B&M $146,365
    Eastern Bank 466 Lincoln Avenue Saugus, MA 1906 Full Service B&M $93,665
    Eastern Bank 470 West Broadway South Boston, MA 2127 Full Service B&M $58,821
    Eastern Bank 486 Essex Street Lawrence, MA 1840 Full Service B&M $14,309
    Eastern Bank 50 Central Street Lowell, MA 1852 Full Service B&M $35,035
    Eastern Bank 51 Commercial Street Braintree, MA 2184 Full Service B&M $63,869
    Eastern Bank 53 Locust Street Medford, MA 2155 Full Service B&M $77,558
    Eastern Bank 538 Central Avenue Dover, NH 3820 Full Service B&M $16,446
    Eastern Bank 6 Shellback Way Mashpee, MA 2649 Full Service B&M $43,574
    Eastern Bank 6 Traders Way Salem, MA 1970 Full Service B&M $142,003
    Eastern Bank 60 Main Street Andover, MA 1810 Full Service B&M $37,385
    Eastern Bank 605 Broadway Saugus, MA 1906 Full Service B&M $335,464
    Eastern Bank 63 Franklin St Boston, MA 2110 Full Service B&M $222,086
    Eastern Bank 63 Franklin Street Quincy, MA 2169 Full Service B&M $117,122
    Eastern Bank 647 Massachusetts Avenue Cambridge, MA 2139 Full Service B&M $40,796
    Eastern Bank 65c Route 6a Sandwich, MA 2563 Full Service B&M $64,487
    Eastern Bank 687 Centre Street Jamaica Plain, MA 2130 Full Service B&M $96,843
    Eastern Bank 7 South Main Street Sharon, MA 2067 Full Service B&M $107,866
    Eastern Bank 71 Carver Road West Plymouth, MA 2360 Full Service B&M $86,625
    Eastern Bank 72 Loring Avenue Salem, MA 1970 Full Service B&M $45,142
    Eastern Bank 738 Broadway Everett, MA 2149 Full Service B&M $51,676
    Eastern Bank 742 County Street Taunton, MA 2780 Full Service B&M $55,183
    Eastern Bank 80 Washington Street Norwell, MA 2061 Full Service B&M $100,357
    Eastern Bank 81 Bridge Street Beverly, MA 1915 Full Service B&M $60,948
    Eastern Bank 815 Main Street Falmouth, MA 2540 Full Service B&M $106,553
    Eastern Bank 90 Everett Avenue Chelsea, MA 2150 Full Service B&M $40,547
    Eastern Bank 94 Pleasant Street Malden, MA 2148 Full Service B&M $91,540
    Eastern Bank Essex Center Drive Peabody, MA 1960 Full Service Retail $68,304
    Eastern Bank One Brattle Square Cambridge, MA 2138 Full Service B&M $45,604
    Eastern Bank One Church Street Watertown, MA 2472 Full Service B&M $51,431

    For 2018, Eastern Bank had 94 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $417,902
    Net interest income $392,780
    Total noninterest income $177,577
    Gross Fiduciary activities income $19,511
    Service charges on deposit accounts $26,897
    Trading account gains and fees $2,156
    Additional Noninterest Income $129,013
    Pre-tax net operating income $157,945
    Securities gains (or losses, -) $50
    Income before extraordinary items $123,003
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $123,003
    Minority interest net income $0
    Net income $123,003
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $122,963

    Eastern Bank's gross interest income from loans was $417,902,000.
    Eastern Bank's net interest income from loans was $392,780,000.
    Eastern Bank's fee based income from loans was $26,897,000.
    Eastern Bank's net income from loans was $123,003,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $25,122
    Provision for credit losses $15,100
    Total noninterest expense $397,312
    Salaries and employee benefits $230,635
    Premises and equipment expense $40,104
    Additional noninterest expense $126,573
    Applicable income taxes $34,992
    Net charge-offs $8,556
    Cash dividends $0

    Eastern Bank's interest expense for loans was $25,122,000.
    Eastern Bank's payroll and benefits expense were $230,635,000.
    Eastern Bank's property, plant and equipment expenses $40,104,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $9,420,234
    Deposits held in domestic offices $9,420,234
    Deposits by Individuals, partnerships, and corporations $8,711,678
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $629,436
    Deposits by Commercial banks and other depository institutions in U.S. $79,120
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $807,189
    Demand deposits $807,189
    Nontransaction accounts $8,613,045
    Money market deposit accounts (MMDAs) $7,123,374
    Other savings deposits (excluding MMDAs) $1,014,721
    Total time deposits $474,950
    Total time and savings deposits $8,613,045
    Noninterest-bearing deposits $342,836
    Interest-bearing deposits $9,077,398
    Retail deposits $9,229,024
    IRAs and Keogh plan accounts $101,404
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $11,378,267
    Cash & Balances due from depository institutions $259,708
    Interest-bearing balances $110,005
    Total securities $1,455,898
    Federal funds sold & reverse repurchase $0
    Net loans and leases $8,774,951
    Loan and leases loss allowance $80,655
    Trading account assets $52,899
    Bank premises and fixed assets $53,304
    Other real estate owned $35
    Goodwill and other intangibles $380,532
    All other assets $400,940

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $11,378,267
    Total Liabilities $9,951,588
    Total deposits $9,420,234
    Interest-bearing deposits $9,077,398
    Deposits held in domestic offices $9,420,234
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $168,776
    Trading liabilities $0
    Other borrowed funds $150,636
    Subordinated debt $0
    All other liabilities $211,942

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $8,774,951
    Loan and leases loss allowance $80,655
    Total loans and leases (domestic) $8,855,606
    All real estate loans $6,155,359
    Real estate loans in domestic offices $6,155,359
    Construction and development loans $305,630
    Residential 1-4 family construction $0
    Other construction, all land development and other land $305,630
    Loans secured by nonfarm nonresidential properties $2,625,160
    Nonfarm nonresidential secured by owner-occupied properties $826,914
    Commercial real estate & other non-farm, non-residential $1,798,246
    Multifamily residential real estate $718,785
    1-4 family residential loans $2,505,784
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,713,718
    To non-U.S. addressees $0
    Loans to individuals $519,374
    Credit card loans $0
    Related Plans $15,860
    Consumer Auto Loans $393,223
    Other loans to individuals $110,291
    All other loans & leases $469,520
    Loans to foreign governments and official institutions $0
    Other loans $229,861
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $74,717
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $35,669
    Non 1-4 family restructured loans & leases $12,815
    Total loans and leases (foreign) $0

    Eastern Bank had $8,774,951,000 of loans outstanding in 2018. $6,155,359,000 of loans were in real estate loans. $305,630,000 of loans were in development loans. $718,785,000 of loans were in multifamily mortgage loans. $2,505,784,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $393,223,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 1,775 $499,857 $281,610
    Nonfarm, nonresidential loans - <$100k 150 $5,874 $39,160
    Nonfarm, nonresidential loans - $100-250k 576 $77,575 $134,679
    Nonfarm, nonresidential loans - $250k-1MM 1,049 $416,408 $396,957
    Commercial & Industrial, US addressed loans - <$1MM 5,584 $410,379 $73,492
    Commercial & Industrial, US addressed loans - <$100k 4,055 $111,194 $27,421
    Commercial & Industrial, US addressed loans - $100-250k 644 $55,156 $85,646
    Commercial & Industrial, US addressed loans - $250k-1MM 885 $244,029 $275,739