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, Home Purchase, and Cash Out Refi 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.) Their top markets by origination volume include: Boston, Providence, Barnstable Town, Worcester, and Manchester among others. We have data for 18 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

    5,389

    Origination Dollar Volume (All Markets)

    $1,846,425,000

    Employee count

    1,994 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) 4,426 $1,530,570,000 $345,813 $4,072 2.82%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 266 $102,580,000 $385,639 $4,846 3.04%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 396 $98,670,000 $249,167 $4,020 2.82%
    WORCESTER, MA-CT (FHA|USDA|VA) 81 $27,605,000 $340,802 $4,262 2.96%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 79 $25,235,000 $319,430 $3,871 3.00%
    Outside of Metro Areas 25 $11,875,000 $475,000 $4,930 2.90%
    SPRINGFIELD, MA (FHA|USDA|VA) 14 $11,630,000 $830,714 $4,405 2.90%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 20 $8,730,000 $436,500 $4,013 2.99%
    Vineyard Haven, MA (FHA|USDA|VA) 15 $7,875,000 $525,000 $4,873 2.84%
    Laconia, NH (FHA|USDA|VA) 13 $6,375,000 $490,385 $4,201 2.81%
    Lebanon, NH-VT (FHA|USDA|VA) 17 $4,955,000 $291,471 $4,171 2.96%
    Concord, NH (FHA|USDA|VA) 21 $3,275,000 $155,952 $3,731 2.80%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 5 $2,715,000 $543,000 $4,849 2.70%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $1,215,000 $1,215,000 $0 3.50%
    PITTSFIELD, MA (FHA|USDA|VA) 3 $1,045,000 $348,333 $4,717 2.92%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 4 $850,000 $212,500 $3,471 3.00%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $775,000 $775,000 $5,512 2.75%
    Keene, NH (FHA|USDA|VA) 2 $450,000 $225,000 $3,088 2.63%
    Eastern Bank's top markets include Boston, Providence, Barnstable Town, Worcester, and Manchester 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.

    SOMERSET
    Similarity Rank: 87
    Homestar Mortgage, Inc.
    Similarity Rank: 156
    SCIENT Federal Credit Union
    Similarity Rank: 286
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 396
    OCEAN STATE CREDIT UNION
    Similarity Rank: 405
    AMERICAN EAGLE FINANCIAL CREDIT UNION
    Similarity Rank: 470
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Rhode Island Credit Union
    Similarity Rank: 524
    Sharon & Crescent United Credit Union
    Similarity Rank: 540
    WAVE FEDERAL CREDIT UNION
    Similarity Rank: 596

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 3,351 $598,655,000 $178,650 n/a 2.77%
    Conventional 1,986 $1,223,870,000 $616,249 $3,899 2.95%
    FHA 47 $21,895,000 $465,851 $12,708 2.75%
    VA 5 $2,005,000 $401,000 $4,966 2.80%

    For 2021, Eastern Bank's most frequently originated type of loan was HELOC, with 3,351 originations. Their 2nd most popular type was Conventional, with 1,986 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 1,725 $239,095,000 $138,606 $3,379 2.77%
    Refi 1,553 $557,885,000 $359,231 $3,683 2.80%
    Home Purchase 774 $520,990,000 $673,114 $4,950 2.97%
    Cash Out Refi 679 $402,055,000 $592,128 $3,794 3.01%
    Other 658 $126,400,000 $192,097 $3,934 2.77%

    For 2021, Eastern Bank's most frequently cited loan purpose was Home Improvement, with 1,725 originations. The 2nd most popular reason was Refi, with 1,553 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 3,375 $619,945,000 $183,687 $3,609 2.77%
    30 Year 1,394 $753,330,000 $540,409 $4,400 2.91%
    15 Year 315 $102,595,000 $325,698 $3,247 2.55%
    10 Year 239 $306,905,000 $1,284,121 $3,166 3.66%
    20 Year 62 $25,140,000 $405,484 $3,105 2.99%
    5 Year 3 $38,135,000 $12,711,667 $0 3.33%
    1 Year 1 $375,000 $375,000 $0 4.25%

    For 2021, Eastern Bank's most frequently cited loan duration was Other, with 3,375 originations. The 2nd most popular length was 30 Year, with 1,394 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,619 $809,745,000 $500,151
    $2k-3k 77 $27,695,000 $359,675
    $3k-4k 26 $12,490,000 $480,385
    $5k+ 21 $9,595,000 $456,905
    $4k-5k 8 $4,080,000 $510,000

    Eastern Bank's average total fees were $4,400, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,619 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 4,384 $1,258,600,000 $287,089
    3-4% 596 $406,610,000 $682,232
    <2.5% 316 $127,260,000 $402,722
    4-5% 90 $52,430,000 $582,556
    5-6% 3 $1,525,000 $508,333

    During 2021, Eastern Bank's average interest rate for loans was 2.91%, while their most frequently originated rate bucket for loans was 2.5-3%, with 4,384 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,474 $413,540,000 $280,556 $3,697 2.87%
    $100k-200k 1,296 $176,090,000 $135,872 $3,105 2.78%
    $100,000 or less 1,172 $66,430,000 $56,681 $1,444 2.78%
    $400k-600k 758 $366,190,000 $483,100 $4,534 2.91%
    $600k-1MM 505 $374,305,000 $741,198 $4,629 2.87%
    $1MM+ 184 $449,870,000 $2,444,946 $5,695 2.99%

    2021 saw Eastern Bank place emphasis on $200k-400k loans with 1,474 originations, totaling $413,540,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 1,422 $408,960,000 $287,595 $4,089 2.79%
    $100k-150k 1,188 $279,660,000 $235,404 $4,241 2.81%
    $250k+ 1,031 $477,535,000 $463,177 $4,569 2.77%
    $75k-100k 704 $145,370,000 $206,491 $4,086 2.81%
    $50k-75k 517 $91,235,000 $176,470 $3,658 2.83%
    $50k or less 184 $22,750,000 $123,641 $3,294 2.87%

    Eastern Bank lent most frequently to those with incomes in the $150k-250k range, with 1,422 originations. The second most popular income band? $100k-150k, with 1,188 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,353 $368,535,000 $272,384 $3,900 2.79%
    30-36% 1,028 $290,940,000 $283,016 $3,893 2.79%
    <20% 727 $178,375,000 $245,358 $3,798 2.77%
    42% 553 $149,045,000 $269,521 $4,600 2.78%
    39% 234 $67,500,000 $288,462 $4,380 2.80%
    40% 212 $65,610,000 $309,481 $3,853 2.80%
    38% 189 $58,915,000 $311,720 $4,061 2.80%
    41% 187 $62,855,000 $336,123 $4,134 2.79%
    37% 184 $52,740,000 $286,630 $4,160 2.83%
    36% 178 $54,730,000 $307,472 $3,909 2.80%
    43% 59 $17,135,000 $290,424 $4,114 2.91%
    49% 35 $11,595,000 $331,286 $4,172 3.11%
    48% 29 $10,565,000 $364,310 $3,867 3.14%
    50-60% 28 $11,390,000 $406,786 $11,389 2.90%
    44% 26 $11,250,000 $432,692 $4,615 2.87%
    47% 26 $8,220,000 $316,154 $4,668 2.97%
    45% 22 $6,750,000 $306,818 $6,699 2.99%
    46% 20 $6,260,000 $313,000 $4,964 2.99%
    >60% 13 $2,415,000 $185,769 $1,572 2.90%

    Eastern Bank lent most frequently to those with DTI ratios of 20-30%, with 1,353 originations. The next most common DTI ratio? 30-36%, with 1,028 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,194 $1,199,210,000 $285,935 $4,019 2.80%
    Not applicable 210 $357,100,000 $1,700,476 $0 3.78%
    Asian 260 $100,330,000 $385,885 $4,333 2.79%
    Not provided 385 $96,115,000 $249,649 $3,923 2.79%
    Black 288 $81,020,000 $281,319 $5,297 2.80%
    Asian Indian 16 $5,880,000 $367,500 $3,776 2.85%
    American Indian 13 $2,665,000 $205,000 $4,279 2.77%
    Chinese 7 $1,385,000 $197,857 $0 2.75%
    1 $865,000 $865,000 $5,210 2.75%
    Other Pacific Islander 2 $580,000 $290,000 $3,051 2.75%
    Vietnamese 2 $360,000 $180,000 $0 2.75%
    Other Asian 3 $325,000 $108,333 $0 2.75%
    Filipino 4 $300,000 $75,000 $0 2.75%
    Native Hawaiian or Islander 3 $255,000 $85,000 $0 2.75%
    Japanese 1 $35,000 $35,000 $0 3.25%

    Approval Rates

    Total approvals of all applications
    78.02%

    Eastern Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.99%

    Eastern Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,389 $1,846,425,000 $342,629

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    5,389 $1,846,425,000 $342,629

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,366 $329,030,000 $240,871 $3,381 2.77%
    40-60% 863 $444,105,000 $514,606 $3,701 2.85%
    60-80% 939 $650,495,000 $692,753 $4,139 3.03%
    80-100% 458 $234,780,000 $512,620 $5,161 2.82%
    Over 100% 18 $24,730,000 $1,373,889 $0 3.80%
    Under 20% 1,745 $163,285,000 $93,573 $2,387 2.78%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    EASTERN BANKSHARES INC Conventional home mortgage Incorrect information on your report 1 33.3%
    EASTERN BANKSHARES INC Conventional home mortgage Trouble during payment process 1 33.3%
    EASTERN BANKSHARES INC Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Eastern Bank 1 Atwood Lane Bedford, NH 3110 Full Service B&M $146,228
    Eastern Bank 100 Brooksby Village Drive Peabody, MA 1960 Full Service B&M $53,415
    Eastern Bank 108 Main Street Kingston, MA 2364 Full Service B&M $67,252
    Eastern Bank 11 South Main Street Concord, NH 3301 Full Service B&M $83,968
    Eastern Bank 11 Trafalgar Square, Suite 105 Nashua, NH 3063 Full Service B&M $13,888
    Eastern Bank 110 Main Street Bridgewater, MA 2324 Full Service B&M $68,020
    Eastern Bank 112 Market Street Lynn, MA 1901 Full Service B&M $202,736
    Eastern Bank 1150 Washington Street Weymouth, MA 2189 Full Service B&M $102,700
    Eastern Bank 118 Washington Street Marblehead, MA 1945 Full Service B&M $51,428
    Eastern Bank 123 Haven Street Reading, MA 1867 Full Service B&M $178,961
    Eastern Bank 1255 Centre Street Newton, MA 2459 Full Service Retail $70,703
    Eastern Bank 1265 Belmont Street Brockton, MA 2301 Full Service B&M $212,874
    Eastern Bank 130 Pleasant Street Malden, MA 2148 Full Service B&M $110,471
    Eastern Bank 139 Washington Street Salem, MA 1970 Full Service B&M $54,388
    Eastern Bank 1413 Tremont Street Boston, MA 2120 Full Service B&M $45,749
    Eastern Bank 155 Dartmouth Street Boston, MA 2116 Full Service B&M $161,615
    Eastern Bank 156 Boston Street Lynn, MA 1904 Full Service B&M $187,927
    Eastern Bank 1560 Old Post Road Marstons Mills, MA 2648 Full Service B&M $62,864
    Eastern Bank 163 Deer Street Portsmouth, NH 3801 Full Service B&M $81,967
    Eastern Bank 163 Main Street Stoneham, MA 2180 Full Service B&M $182,576
    Eastern Bank 17 Storey Avenue Newburyport, MA 1950 Full Service B&M $155,870
    Eastern Bank 1833 Massachusetts Ave Lexington, MA 2420 Full Service B&M $55,541
    Eastern Bank 188 Needham Street Newton, MA 2464 Full Service B&M $109,776
    Eastern Bank 19 Congress Street Salem, MA 1970 Full Service B&M $92,334
    Eastern Bank 19 Depot Street Duxbury, MA 2332 Full Service B&M $73,479
    Eastern Bank 1906 Dorchester Avenue Dorchester, MA 2124 Full Service Retail $57,535
    Eastern Bank 1932 Ocean Street Marshfield, MA 2050 Full Service B&M $87,033
    Eastern Bank 2 South Avenue Natick, MA 1760 Full Service B&M $83,715
    Eastern Bank 203 Littleton Road Westford, MA 1886 Full Service B&M $86,608
    Eastern Bank 2060 Commonwealth Avenue Auburndale, MA 2466 Full Service B&M $80,719
    Eastern Bank 226 Main Street Wareham, MA 2571 Full Service B&M $77,655
    Eastern Bank 240 Providence Highway Dedham, MA 2026 Full Service B&M $162,032
    Eastern Bank 246 Border Street East Boston, MA 2128 Full Service Retail $45,370
    Eastern Bank 250 Elm Street Somerville, MA 2144 Full Service B&M $70,077
    Eastern Bank 265 Franklin St Boston, MA 2110 Full Service B&M $3,997,855
    Eastern Bank 274 Main Street Hingham, MA 2043 Full Service B&M $101,387
    Eastern Bank 276 Quincy Street Brockton, MA 2302 Full Service B&M $72,003
    Eastern Bank 287 3rd St Cambridge, MA 2142 Full Service B&M $36,646
    Eastern Bank 29 County Road Mattapoisett, MA 2739 Full Service B&M $153,115
    Eastern Bank 291 Chelmsford Street Chelmsford, MA 1824 Full Service B&M $135,155
    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 $101,221
    Eastern Bank 301 Harvard Street Brookline, MA 2446 Full Service Retail $61,799
    Eastern Bank 33 Enon Street Beverly, MA 1915 Full Service B&M $101,638
    Eastern Bank 339 Squire Road Revere, MA 2151 Full Service B&M $4,623
    Eastern Bank 34 Chapman Street Quincy, MA 2170 Full Service B&M $261,244
    Eastern Bank 340 Front Street Marion, MA 2738 Full Service B&M $125,008
    Eastern Bank 35 Memorial Parkway Randolph, MA 2368 Full Service B&M $110,713
    Eastern Bank 37 Foster Street Peabody, MA 1960 Full Service B&M $161,463
    Eastern Bank 370 Main Street Wilmington, MA 1887 Full Service B&M $167,291
    Eastern Bank 375 Iyannough Road Hyannis, MA 2601 Full Service B&M $45,435
    Eastern Bank 397 Washington Street Stoughton, MA 2072 Full Service B&M $84,793
    Eastern Bank 4 Federal Street Danvers, MA 1923 Full Service B&M $324,223
    Eastern Bank 405 Paradise Road Swampscott, MA 1907 Full Service B&M $298,425
    Eastern Bank 41 Hooksett Road Manchester, NH 3104 Full Service B&M $89,828
    Eastern Bank 43 Middlesex Turnpike, Suite 10 Burlington, MA 1803 Full Service B&M $101,997
    Eastern Bank 441 Main Street Melrose, MA 2176 Full Service B&M $247,575
    Eastern Bank 445 Main Street Wakefield, MA 1880 Full Service B&M $150,012
    Eastern Bank 45 Broadway Road Dracut, MA 1826 Full Service B&M $74,224
    Eastern Bank 45 Main Street Lakeville, MA 2347 Full Service B&M $169,612
    Eastern Bank 45 Salem Street Lynnfield, MA 1940 Full Service B&M $226,400
    Eastern Bank 466 Lincoln Avenue Saugus, MA 1906 Full Service B&M $106,578
    Eastern Bank 470 West Broadway South Boston, MA 2127 Full Service B&M $80,547
    Eastern Bank 486 Essex Street Lawrence, MA 1840 Full Service B&M $27,921
    Eastern Bank 50 Central Street Lowell, MA 1852 Full Service B&M $43,728
    Eastern Bank 51 Commercial Street Braintree, MA 2184 Full Service B&M $103,583
    Eastern Bank 53 Locust Street Medford, MA 2155 Full Service B&M $100,073
    Eastern Bank 538 Central Avenue Dover, NH 3820 Full Service B&M $29,304
    Eastern Bank 6 Shellback Way Mashpee, MA 2649 Full Service B&M $66,030
    Eastern Bank 6 Traders Way Salem, MA 1970 Full Service B&M $214,733
    Eastern Bank 60 Main Street Andover, MA 1810 Full Service B&M $86,360
    Eastern Bank 605 Broadway Saugus, MA 1906 Full Service B&M $435,674
    Eastern Bank 63 Franklin St Boston, MA 2110 Full Service B&M $235,520
    Eastern Bank 63 Franklin Street Quincy, MA 2169 Full Service B&M $168,380
    Eastern Bank 647 Massachusetts Avenue Cambridge, MA 2139 Full Service B&M $64,422
    Eastern Bank 65c Route 6a Sandwich, MA 2563 Full Service B&M $88,049
    Eastern Bank 687 Centre Street Jamaica Plain, MA 2130 Full Service B&M $150,566
    Eastern Bank 7 South Main Street Sharon, MA 2067 Full Service B&M $153,735
    Eastern Bank 71 Carver Road West Plymouth, MA 2360 Full Service B&M $183,902
    Eastern Bank 738 Broadway Everett, MA 2149 Full Service B&M $74,214
    Eastern Bank 742 County Street Taunton, MA 2780 Full Service B&M $75,491
    Eastern Bank 80 Washington Street Norwell, MA 2061 Full Service B&M $178,700
    Eastern Bank 81 Bridge Street Beverly, MA 1915 Full Service B&M $90,819
    Eastern Bank 815 Main Street Falmouth, MA 2540 Full Service B&M $140,271
    Eastern Bank 90 Everett Avenue Chelsea, MA 2150 Full Service B&M $73,311
    Eastern Bank Essex Center Drive Peabody, MA 1960 Full Service Retail $79,853
    Eastern Bank One Brattle Square Cambridge, MA 2138 Full Service B&M $89,705
    Eastern Bank One Church Street Watertown, MA 2472 Full Service B&M $86,359

    For 2021, Eastern Bank had 88 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $436,795
    Net interest income $431,458
    Total noninterest income $194,536
    Gross Fiduciary activities income $24,797
    Service charges on deposit accounts $24,272
    Trading account gains and fees $0
    Additional Noninterest Income $145,467
    Pre-tax net operating income $195,161
    Securities gains (or losses, -) $1,166
    Income before extraordinary items $150,936
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $150,936
    Minority interest net income $0
    Net income $150,936
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $150,014

    Eastern Bank's gross interest income from loans was $436,795,000.
    Eastern Bank's net interest income from loans was $431,458,000.
    Eastern Bank's fee based income from loans was $24,272,000.
    Eastern Bank's net income from loans was $150,936,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,337
    Provision for credit losses $-9,686
    Total noninterest expense $440,519
    Salaries and employee benefits $295,912
    Premises and equipment expense $44,514
    Additional noninterest expense $100,093
    Applicable income taxes $45,391
    Net charge-offs $5,558
    Cash dividends $0

    Eastern Bank's interest expense for loans was $5,337,000.
    Eastern Bank's payroll and benefits expense were $295,912,000.
    Eastern Bank's property, plant and equipment expenses $44,514,000.

    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 $19,783,055
    Deposits held in domestic offices $19,783,055
    Deposits by Individuals, partnerships, and corporations $16,834,351
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $2,922,713
    Deposits by Commercial banks and other depository institutions in U.S. $25,991
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $1,087,225
    Demand deposits $1,087,225
    Nontransaction accounts $18,695,830
    Money market deposit accounts (MMDAs) $16,071,602
    Other savings deposits (excluding MMDAs) $2,097,847
    Total time deposits $526,381
    Total time and savings deposits $18,695,830
    Noninterest-bearing deposits $837,503
    Interest-bearing deposits $18,945,552
    Retail deposits $19,409,541
    IRAs and Keogh plan accounts $354,572
    Brokered deposits $149,725
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $23,490,236
    Cash & Balances due from depository institutions $1,230,603
    Interest-bearing balances $1,087,158
    Total securities $8,511,224
    Federal funds sold & reverse repurchase $0
    Net loans and leases $12,158,518
    Loan and leases loss allowance $97,787
    Trading account assets $0
    Bank premises and fixed assets $163,244
    Other real estate owned $0
    Goodwill and other intangibles $649,513
    All other assets $777,134

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $23,490,236
    Total Liabilities $20,240,103
    Total deposits $19,783,055
    Interest-bearing deposits $18,945,552
    Deposits held in domestic offices $19,783,055
    % insured (estimated) $48
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $15,044
    Subordinated debt $0
    All other liabilities $442,004

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $12,158,518
    Loan and leases loss allowance $97,787
    Total loans and leases (domestic) $12,256,305
    All real estate loans $7,980,464
    Real estate loans in domestic offices $7,980,464
    Construction and development loans $167,036
    Residential 1-4 family construction $0
    Other construction, all land development and other land $167,036
    Loans secured by nonfarm nonresidential properties $3,465,627
    Nonfarm nonresidential secured by owner-occupied properties $1,220,783
    Commercial real estate & other non-farm, non-residential $2,244,844
    Multifamily residential real estate $1,130,698
    1-4 family residential loans $3,217,007
    Farmland loans $96
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $2,184,384
    To non-U.S. addressees $0
    Loans to individuals $197,102
    Credit card loans $0
    Related Plans $15,390
    Consumer Auto Loans $50,093
    Other loans to individuals $131,619
    All other loans & leases $1,900,641
    Loans to foreign governments and official institutions $0
    Other loans $202,443
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $100,145
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $30,843
    Non 1-4 family restructured loans & leases $11,095
    Total loans and leases (foreign) $0

    Eastern Bank had $12,158,518,000 of loans outstanding in 2021. $7,980,464,000 of loans were in real estate loans. $167,036,000 of loans were in development loans. $1,130,698,000 of loans were in multifamily mortgage loans. $3,217,007,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $50,093,000 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 1,700 $530,833 $312,255
    Nonfarm, nonresidential loans - <$100k 85 $4,180 $49,176
    Nonfarm, nonresidential loans - $100-250k 500 $66,708 $133,416
    Nonfarm, nonresidential loans - $250k-1MM 1,115 $459,945 $412,507
    Commercial & Industrial, US addressed loans - <$1MM 8,454 $565,740 $66,920
    Commercial & Industrial, US addressed loans - <$100k 6,695 $146,070 $21,818
    Commercial & Industrial, US addressed loans - $100-250k 913 $118,366 $129,645
    Commercial & Industrial, US addressed loans - $250k-1MM 846 $301,304 $356,151
    Farmland loans - <$1MM 1 $96 $96,000
    Farmland loans - <$100k 1 $96 $96,000