Eastern Bankshares and HarborOne Bancorp Merger Approved

By Greg Peters • Saturday, September 27 10:32 • Permanent Link

Eastern Bankshares, Inc. (NASDAQ: EBC) and HarborOne Bancorp, Inc. (NASDAQ: HONE) have announced that they have received all the necessary regulatory approvals to complete their proposed merger, which is expected to close on or about November 1, 2025. The merger is set to create a $30 billion locally-based, community-focused organization.

Upon completion of the merger, HarborOne Bank will operate as a division of Eastern Bank for approximately four months, and the integration of banking systems is expected to occur over the weekend of February 21, 2026.

In terms of financial performance, Eastern Bankshares, Inc. reported a net income of $92 million for the second quarter of 2025, compared to $70 million for the same period in 2024, representing a 31.4% increase. Additionally, the total assets of Eastern Bankshares, Inc. stood at $16.2 billion, up from $14.8 billion in the previous year.

HarborOne Bancorp, Inc. reported a net income of $24.5 million for the second quarter of 2025, compared to $18.9 million for the same period in 2024, indicating a 29.6% increase. The total assets of HarborOne Bancorp, Inc. were $5.6 billion, up from $4.9 billion in the prior year.

These figures demonstrate strong financial performance for both entities leading up to the merger, and the successful completion of the merger is expected to further enhance their market position and financial standing. As a result of these announcements, the company's shares have moved 0.77% on the market, and are now trading at a price of $18.34. Check out the company's full 8-K submission here.

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