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Banking News and Analysis | Banking Dive

Banking News and Analysis | Banking Dive

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Eastern Bank to broach Rhode Island with $490M HarborOne deal

Banking News and Analysis | Banking Dive
Summary
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Eastern Bankshares will merge with Brockton , Massachusetts -based HarborOne in a $490 million stock-and-cash deal.

The deal will add 30 locations to Eastern ’s 109 -branch presence and bolster the $25 billion -asset bank with a further $5.7 billion in assets.

HarborOne shareholders will receive a choice of either 0.765 Eastern shares or $ 12 cash for each share they own.