Eastern Bankshares, Inc. (EBC), the stock holding company for Eastern Bank, and Cambridge Bancorp (CATC), the parent company of Cambridge Trust Company, have received all necessary regulatory approvals to complete their proposed merger, which was previously announced on September 19, 2023. The merger is anticipated to close on or about July 12, 2024.
Bob Rivers, Chief Executive Officer and Chair of the Boards of Eastern and Eastern Bank, said: "This merger will create a $26 billion organization that is positioned as Greater Boston's leading local bank and the largest bank-owned independent investment advisor in Massachusetts."
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.