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."
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