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 small bank specializing in Refi, Cash Out 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, Providence, Barnstable Town, Worcester, and Concord among others. We have data for 19 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% 11/21/24
    30 Year Conventional Purchase 5.63% 11/21/24
    30 Year Conventional Refi 6.31% 11/21/24
    30 Year Cash-out Refi 6.12% 11/21/24
    30 Year FHA Purchase 6.92% 11/21/24
    30 Year VA Purchase 6.84% 11/21/24
    30 Year USDA Purchase 6.76% 11/21/24
    15 Year Conventional Purchase 4.22% 11/21/24
    15 Year Conventional Refi 5.65% 11/21/24
    15 Year Cash-out Refi 5.65% 11/21/24
    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

    4,341

    Origination Dollar Volume (All Markets)

    $1,590,215,000

    Employee count

    1,832 Show all (8) 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) 3,557 $1,248,815,000 $351,087 $3,695 3.11%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 248 $115,800,000 $466,935 $4,147 3.17%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 280 $92,310,000 $329,679 $3,603 3.12%
    WORCESTER, MA-CT (FHA|USDA|VA) 69 $38,925,000 $564,130 $3,618 3.17%
    Concord, NH (FHA|USDA|VA) 28 $28,030,000 $1,001,071 $4,118 3.09%
    Outside of Metro Areas 21 $15,185,000 $723,095 $4,018 3.12%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 3 $13,185,000 $4,395,000 $2,516 2.54%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 63 $13,115,000 $208,175 $3,577 3.09%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 26 $6,980,000 $268,462 $5,180 2.85%
    Laconia, NH (FHA|USDA|VA) 9 $6,275,000 $697,222 $4,466 2.94%
    Vineyard Haven, MA (FHA|USDA|VA) 7 $4,295,000 $613,571 $5,330 2.95%
    Lebanon, NH-VT (FHA|USDA|VA) 14 $3,330,000 $237,857 $3,280 2.97%
    SPRINGFIELD, MA (FHA|USDA|VA) 7 $1,705,000 $243,571 $4,571 3.08%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 2 $960,000 $480,000 $4,010 2.88%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 3 $555,000 $185,000 $4,209 2.67%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $255,000 $255,000 $8,643 2.63%
    Keene, NH (FHA|USDA|VA) 1 $175,000 $175,000 $2,988 3.25%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $165,000 $165,000 $0 2.75%
    Berlin, NH (FHA|USDA|VA) 1 $155,000 $155,000 $3,021 3.13%
    Eastern Bank's top markets include Boston, Providence, Barnstable Town, Worcester, and Concord among others.

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

    Homestar Mortgage, Inc.
    Similarity Rank: 166
    SOMERSET
    Similarity Rank: 169
    OCEAN STATE CREDIT UNION
    Similarity Rank: 252
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    AMERICAN EAGLE FINANCIAL CREDIT UNION
    Similarity Rank: 280
    Piscataqua Savings Bank
    Similarity Rank: 310
    Rhode Island Credit Union
    Similarity Rank: 510
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    NESC
    Similarity Rank: 772
    East Boston Savings Bank
    Similarity Rank: 798

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,225 $1,210,435,000 $544,016 $3,539 3.11%
    HELOC 2,047 $353,625,000 $172,753 n/a 3.13%
    FHA 58 $22,410,000 $386,379 $10,651 2.71%
    VA 9 $3,205,000 $356,111 $8,552 2.82%
    USDA 2 $540,000 $270,000 $6,359 2.75%

    For 2020, Eastern Bank's most frequently originated type of loan was Conventional, with 2,225 originations. Their 2nd most popular type was HELOC, with 2,047 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,600 $548,880,000 $343,050 $3,361 3.08%
    Home Improvement 879 $154,705,000 $176,001 $3,572 3.14%
    Cash Out Refi 742 $398,270,000 $536,752 $3,483 3.20%
    Home Purchase 627 $400,745,000 $639,147 $4,688 3.09%
    Other 493 $87,615,000 $177,718 $4,166 3.08%

    For 2020, Eastern Bank's most frequently cited loan purpose was Refi, with 1,600 originations. The 2nd most popular reason was Home Improvement, with 879 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 2,101 $464,485,000 $221,078 $3,041 3.14%
    30 Year 1,614 $724,730,000 $449,027 $3,928 3.09%
    15 Year 304 $94,670,000 $311,414 $3,154 2.77%
    10 Year 191 $208,565,000 $1,091,963 $3,161 3.64%
    20 Year 124 $38,180,000 $307,903 $3,223 3.04%
    3 Year 4 $55,920,000 $13,980,000 $0 3.38%
    5 Year 3 $3,665,000 $1,221,667 $0 3.60%

    For 2020, Eastern Bank's most frequently cited loan duration was Other, with 2,101 originations. The 2nd most popular length was 30 Year, with 1,614 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,866 $798,590,000 $427,969
    $2k-3k 113 $40,055,000 $354,469
    $3k-4k 33 $12,525,000 $379,545
    $5k+ 17 $7,685,000 $452,059
    $4k-5k 12 $4,120,000 $343,333

    Eastern Bank's average total fees were $3,928, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,866 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 2,515 $779,275,000 $309,851
    3-4% 1,170 $627,220,000 $536,085
    4-5% 452 $94,770,000 $209,668
    <2.5% 196 $85,550,000 $436,480
    5-6% 5 $1,825,000 $365,000
    6-7% 2 $1,310,000 $655,000

    During 2020, Eastern Bank's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 2.5-3%, with 2,515 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,457 $416,395,000 $285,789 $3,496 3.10%
    $100k-200k 952 $134,150,000 $140,914 $2,919 3.09%
    $100,000 or less 763 $42,925,000 $56,258 $1,303 3.16%
    $400k-600k 678 $323,700,000 $477,434 $4,153 3.09%
    $600k-1MM 367 $272,215,000 $741,730 $4,394 3.17%
    $1MM+ 124 $400,830,000 $3,232,500 $5,508 3.20%

    2020 saw Eastern Bank place emphasis on $200k-400k loans with 1,457 originations, totaling $416,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 1,055 $332,805,000 $315,455 $3,669 3.07%
    $100k-150k 1,048 $269,450,000 $257,109 $3,773 3.09%
    $250k+ 649 $313,665,000 $483,305 $4,226 3.04%
    $75k-100k 596 $135,690,000 $227,668 $3,628 3.12%
    $50k-75k 496 $93,270,000 $188,044 $3,527 3.09%
    $50k or less 215 $30,985,000 $144,116 $3,313 3.23%

    Eastern Bank lent most frequently to those with incomes in the $150k-250k range, with 1,055 originations. The second most popular income band? $100k-150k, with 1,048 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,140 $312,960,000 $274,526 $3,556 3.04%
    30-36% 807 $238,445,000 $295,471 $3,591 3.09%
    <20% 561 $160,065,000 $285,321 $3,562 3.01%
    42% 310 $85,160,000 $274,710 $3,526 3.07%
    39% 167 $48,605,000 $291,048 $3,945 3.07%
    36% 146 $44,410,000 $304,178 $3,728 3.08%
    41% 146 $41,910,000 $287,055 $4,129 3.14%
    40% 144 $43,290,000 $300,625 $3,758 3.17%
    38% 144 $42,520,000 $295,278 $3,618 3.10%
    37% 136 $40,710,000 $299,338 $3,645 3.11%
    43% 85 $20,585,000 $242,176 $3,658 3.54%
    44% 64 $18,750,000 $292,969 $4,188 3.28%
    48% 52 $17,180,000 $330,385 $4,389 3.23%
    45% 51 $16,205,000 $317,745 $4,175 3.24%
    47% 41 $13,605,000 $331,829 $4,657 3.06%
    46% 33 $10,255,000 $310,758 $3,507 3.32%
    49% 32 $11,920,000 $372,500 $3,752 3.19%
    50-60% 23 $7,535,000 $327,609 $9,304 3.08%
    >60% 7 $4,115,000 $587,857 $3,582 3.79%

    Eastern Bank lent most frequently to those with DTI ratios of 20-30%, with 1,140 originations. The next most common DTI ratio? 30-36%, with 807 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,386 $1,004,220,000 $296,580 $3,686 3.10%
    Not applicable 164 $343,940,000 $2,097,195 $0 3.69%
    Not provided 381 $100,725,000 $264,370 $3,754 3.00%
    Asian 218 $83,100,000 $381,193 $4,249 3.06%
    Black 162 $48,210,000 $297,593 $4,375 3.13%
    Asian Indian 11 $5,855,000 $532,273 $4,845 3.39%
    American Indian 8 $1,420,000 $177,500 $3,604 3.08%
    Native Hawaiian or Islander 4 $1,180,000 $295,000 $2,926 3.03%
    Other Asian 3 $655,000 $218,333 $0 3.25%
    Chinese 2 $480,000 $240,000 $0 2.75%
    Other Pacific Islander 1 $325,000 $325,000 $3,017 2.88%
    Filipino 1 $105,000 $105,000 $0 2.75%

    Approval Rates

    Total approvals of all applications
    74.69%

    Eastern Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.44%

    Eastern Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,341 $1,590,215,000 $366,325

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 91 $307,855,000 $3,383,022
    Single Family (1-4 Units):Site-Built 4,250 $1,282,360,000 $301,732

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 891 $202,385,000 $227,144 $3,188 3.12%
    40-60% 823 $390,205,000 $474,125 $3,294 3.06%
    60-80% 1,109 $607,085,000 $547,417 $3,673 3.16%
    80-100% 465 $205,575,000 $442,097 $4,789 3.07%
    Over 100% 21 $68,555,000 $3,264,524 $16,454 3.49%
    Under 20% 1,032 $116,410,000 $112,800 $2,184 3.12%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    EASTERN BANKSHARES INC FHA mortgage Struggling to pay mortgage 1 50.0%
    EASTERN BANKSHARES INC Home equity loan or line of credit (HELOC) Trouble during payment process 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Eastern Bank 1 Atwood Lane Bedford, NH 3110 Full Service B&M $176,229
    Eastern Bank 100 Brooksby Village Drive Peabody, MA 1960 Full Service B&M $47,138
    Eastern Bank 108 Main Street Kingston, MA 2364 Full Service B&M $67,307
    Eastern Bank 11 South Main Street Concord, NH 3301 Full Service B&M $57,258
    Eastern Bank 11 Trafalgar Square, Suite 105 Nashua, NH 3063 Full Service B&M $21,622
    Eastern Bank 110 Main Street Bridgewater, MA 2324 Full Service B&M $57,881
    Eastern Bank 112 Market Street Lynn, MA 1901 Full Service B&M $177,869
    Eastern Bank 1150 Washington Street Weymouth, MA 2189 Full Service B&M $87,278
    Eastern Bank 118 Washington Street Marblehead, MA 1945 Full Service B&M $43,593
    Eastern Bank 123 Haven Street Reading, MA 1867 Full Service B&M $139,778
    Eastern Bank 1255 Centre Street Newton, MA 2459 Full Service Retail $48,792
    Eastern Bank 1265 Belmont Street Brockton, MA 2301 Full Service B&M $186,206
    Eastern Bank 130 Pleasant Street Malden, MA 2148 Full Service B&M $102,874
    Eastern Bank 139 Washington Street Salem, MA 1970 Full Service B&M $50,200
    Eastern Bank 1413 Tremont Street Boston, MA 2120 Full Service B&M $39,468
    Eastern Bank 155 Dartmouth Street Boston, MA 2116 Full Service B&M $146,762
    Eastern Bank 156 Boston Street Lynn, MA 1904 Full Service B&M $155,382
    Eastern Bank 1560 Old Post Road Marstons Mills, MA 2648 Full Service B&M $51,055
    Eastern Bank 163 Deer Street Portsmouth, NH 3801 Full Service B&M $85,627
    Eastern Bank 163 Main Street Stoneham, MA 2180 Full Service B&M $160,048
    Eastern Bank 17 Storey Avenue Newburyport, MA 1950 Full Service B&M $139,037
    Eastern Bank 1833 Massachusetts Ave Lexington, MA 2420 Full Service B&M $43,392
    Eastern Bank 188 Needham Street Newton, MA 2464 Full Service B&M $98,200
    Eastern Bank 19 Congress Street Salem, MA 1970 Full Service B&M $108,603
    Eastern Bank 19 Depot Street Duxbury, MA 2332 Full Service B&M $63,119
    Eastern Bank 1906 Dorchester Avenue Dorchester, MA 2124 Full Service Retail $44,748
    Eastern Bank 1932 Ocean Street Marshfield, MA 2050 Full Service B&M $69,058
    Eastern Bank 2 South Avenue Natick, MA 1760 Full Service B&M $66,478
    Eastern Bank 203 Littleton Road Westford, MA 1886 Full Service B&M $73,332
    Eastern Bank 2060 Commonwealth Avenue Auburndale, MA 2466 Full Service B&M $96,849
    Eastern Bank 226 Main Street Wareham, MA 2571 Full Service B&M $69,833
    Eastern Bank 240 Providence Highway Dedham, MA 2026 Full Service B&M $118,687
    Eastern Bank 246 Border Street East Boston, MA 2128 Full Service Retail $40,383
    Eastern Bank 250 Elm Street Somerville, MA 2144 Full Service B&M $57,979
    Eastern Bank 265 Franklin Street Boston, MA 2110 Full Service B&M $2,924,992
    Eastern Bank 274 Main Street Hingham, MA 2043 Full Service B&M $96,011
    Eastern Bank 276 Quincy Street Brockton, MA 2302 Full Service B&M $50,297
    Eastern Bank 287 3rd St Cambridge, MA 2142 Full Service B&M $36,324
    Eastern Bank 29 County Road Mattapoisett, MA 2739 Full Service B&M $138,139
    Eastern Bank 291 Chelmsford Street Chelmsford, MA 1824 Full Service B&M $112,260
    Eastern Bank 300 Brooksby Village Drive Peabody, MA 1960 Full Service B&M $24,310
    Eastern Bank 3003 Cranberry Highway East Wareham, MA 2538 Full Service B&M $86,744
    Eastern Bank 301 Harvard Street Brookline, MA 2446 Full Service Retail $57,295
    Eastern Bank 33 Enon Street Beverly, MA 1915 Full Service B&M $91,897
    Eastern Bank 339 Squire Road Revere, MA 2151 Full Service B&M $2,142
    Eastern Bank 34 Chapman Street Quincy, MA 2170 Full Service B&M $195,721
    Eastern Bank 340 Front Street Marion, MA 2738 Full Service B&M $98,287
    Eastern Bank 35 Memorial Parkway Randolph, MA 2368 Full Service B&M $132,011
    Eastern Bank 36 Main Street Plymouth, MA 2360 Full Service B&M $32,377
    Eastern Bank 37 Foster Street Peabody, MA 1960 Full Service B&M $142,241
    Eastern Bank 370 Main Street Wilmington, MA 1887 Full Service B&M $154,654
    Eastern Bank 375 Iyannough Road Hyannis, MA 2601 Full Service B&M $35,265
    Eastern Bank 397 Washington Street Stoughton, MA 2072 Full Service B&M $71,022
    Eastern Bank 4 Federal Street Danvers, MA 1923 Full Service B&M $262,762
    Eastern Bank 405 Paradise Road Swampscott, MA 1907 Full Service B&M $276,150
    Eastern Bank 41 Hooksett Road Manchester, NH 3104 Full Service B&M $89,691
    Eastern Bank 43 Middlesex Turnpike, Suite 10 Burlington, MA 1803 Full Service B&M $99,205
    Eastern Bank 441 Main Street Melrose, MA 2176 Full Service B&M $234,302
    Eastern Bank 445 Main Street Wakefield, MA 1880 Full Service B&M $149,722
    Eastern Bank 45 Broadway Road Dracut, MA 1826 Full Service B&M $61,451
    Eastern Bank 45 Main Street Lakeville, MA 2347 Full Service B&M $144,660
    Eastern Bank 45 Salem Street Lynnfield, MA 1940 Full Service B&M $202,492
    Eastern Bank 466 Lincoln Avenue Saugus, MA 1906 Full Service B&M $100,156
    Eastern Bank 470 West Broadway South Boston, MA 2127 Full Service B&M $61,592
    Eastern Bank 486 Essex Street Lawrence, MA 1840 Full Service B&M $20,860
    Eastern Bank 50 Central Street Lowell, MA 1852 Full Service B&M $30,907
    Eastern Bank 51 Commercial Street Braintree, MA 2184 Full Service B&M $81,285
    Eastern Bank 53 Locust Street Medford, MA 2155 Full Service B&M $99,790
    Eastern Bank 538 Central Avenue Dover, NH 3820 Full Service B&M $34,472
    Eastern Bank 6 Shellback Way Mashpee, MA 2649 Full Service B&M $59,021
    Eastern Bank 6 Traders Way Salem, MA 1970 Full Service B&M $180,007
    Eastern Bank 60 Main Street Andover, MA 1810 Full Service B&M $75,845
    Eastern Bank 605 Broadway Saugus, MA 1906 Full Service B&M $389,434
    Eastern Bank 63 Franklin St Boston, MA 2110 Full Service B&M $251,357
    Eastern Bank 63 Franklin Street Quincy, MA 2169 Full Service B&M $168,444
    Eastern Bank 647 Massachusetts Avenue Cambridge, MA 2139 Full Service B&M $53,632
    Eastern Bank 65c Route 6a Sandwich, MA 2563 Full Service B&M $74,860
    Eastern Bank 687 Centre Street Jamaica Plain, MA 2130 Full Service B&M $122,046
    Eastern Bank 7 South Main Street Sharon, MA 2067 Full Service B&M $143,806
    Eastern Bank 71 Carver Road West Plymouth, MA 2360 Full Service B&M $108,799
    Eastern Bank 738 Broadway Everett, MA 2149 Full Service B&M $64,360
    Eastern Bank 742 County Street Taunton, MA 2780 Full Service B&M $59,911
    Eastern Bank 80 Washington Street Norwell, MA 2061 Full Service B&M $155,271
    Eastern Bank 81 Bridge Street Beverly, MA 1915 Full Service B&M $83,124
    Eastern Bank 815 Main Street Falmouth, MA 2540 Full Service B&M $128,306
    Eastern Bank 90 Everett Avenue Chelsea, MA 2150 Full Service B&M $68,107
    Eastern Bank Essex Center Drive Peabody, MA 1960 Full Service Retail $86,786
    Eastern Bank One Brattle Square Cambridge, MA 2138 Full Service B&M $98,321
    Eastern Bank One Church Street Watertown, MA 2472 Full Service B&M $66,613

    For 2020, Eastern Bank had 89 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $416,016
    Net interest income $403,938
    Total noninterest income $179,455
    Gross Fiduciary activities income $21,473
    Service charges on deposit accounts $21,560
    Trading account gains and fees $-4
    Additional Noninterest Income $136,426
    Pre-tax net operating income $128,537
    Securities gains (or losses, -) $288
    Income before extraordinary items $101,729
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $101,729
    Minority interest net income $0
    Net income $101,729
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $101,501

    Eastern Bank's gross interest income from loans was $416,016,000.
    Eastern Bank's net interest income from loans was $403,938,000.
    Eastern Bank's fee based income from loans was $21,560,000.
    Eastern Bank's net income from loans was $101,729,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $12,078
    Provision for credit losses $38,800
    Total noninterest expense $416,056
    Salaries and employee benefits $261,470
    Premises and equipment expense $38,339
    Additional noninterest expense $116,247
    Applicable income taxes $27,096
    Net charge-offs $8,066
    Cash dividends $0

    Eastern Bank's interest expense for loans was $12,078,000.
    Eastern Bank's payroll and benefits expense were $261,470,000.
    Eastern Bank's property, plant and equipment expenses $38,339,000.

    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 $12,910,803
    Deposits held in domestic offices $12,910,803
    Deposits by Individuals, partnerships, and corporations $11,831,225
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $799,980
    Deposits by Commercial banks and other depository institutions in U.S. $279,598
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $1,454,108
    Demand deposits $1,454,108
    Nontransaction accounts $11,456,695
    Money market deposit accounts (MMDAs) $9,927,465
    Other savings deposits (excluding MMDAs) $1,270,371
    Total time deposits $258,859
    Total time and savings deposits $11,456,695
    Noninterest-bearing deposits $1,254,393
    Interest-bearing deposits $11,656,410
    Retail deposits $12,851,976
    IRAs and Keogh plan accounts $88,614
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $15,952,528
    Cash & Balances due from depository institutions $2,054,075
    Interest-bearing balances $1,937,479
    Total securities $3,183,860
    Federal funds sold & reverse repurchase $0
    Net loans and leases $9,595,123
    Loan and leases loss allowance $113,031
    Trading account assets $0
    Bank premises and fixed assets $125,317
    Other real estate owned $0
    Goodwill and other intangibles $375,790
    All other assets $618,363

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $15,952,528
    Total Liabilities $13,278,395
    Total deposits $12,910,803
    Interest-bearing deposits $11,656,410
    Deposits held in domestic offices $12,910,803
    % insured (estimated) $58
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $15,022
    Subordinated debt $0
    All other liabilities $352,570

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $9,595,123
    Loan and leases loss allowance $113,031
    Total loans and leases (domestic) $9,708,154
    All real estate loans $6,475,668
    Real estate loans in domestic offices $6,475,668
    Construction and development loans $252,503
    Residential 1-4 family construction $0
    Other construction, all land development and other land $252,503
    Loans secured by nonfarm nonresidential properties $2,984,665
    Nonfarm nonresidential secured by owner-occupied properties $911,993
    Commercial real estate & other non-farm, non-residential $2,072,672
    Multifamily residential real estate $869,246
    1-4 family residential loans $2,369,254
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $2,522,521
    To non-U.S. addressees $0
    Loans to individuals $258,931
    Credit card loans $0
    Related Plans $18,843
    Consumer Auto Loans $119,111
    Other loans to individuals $120,977
    All other loans & leases $468,948
    Loans to foreign governments and official institutions $0
    Other loans $172,119
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $70,154
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $39,112
    Non 1-4 family restructured loans & leases $13,628
    Total loans and leases (foreign) $0

    Eastern Bank had $9,595,123,000 of loans outstanding in 2020. $6,475,668,000 of loans were in real estate loans. $252,503,000 of loans were in development loans. $869,246,000 of loans were in multifamily mortgage loans. $2,369,254,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $119,111,000 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 1,582 $477,643 $301,924
    Nonfarm, nonresidential loans - <$100k 83 $4,195 $50,542
    Nonfarm, nonresidential loans - $100-250k 497 $66,966 $134,740
    Nonfarm, nonresidential loans - $250k-1MM 1,002 $406,482 $405,671
    Commercial & Industrial, US addressed loans - <$1MM 3,947 $295,716 $74,922
    Commercial & Industrial, US addressed loans - <$100k 3,006 $68,144 $22,669
    Commercial & Industrial, US addressed loans - $100-250k 397 $42,950 $108,186
    Commercial & Industrial, US addressed loans - $250k-1MM 544 $184,622 $339,379