Eastern Bankshares (EBC) Closes Merger With Cambridge Bancorp

Eastern Bankshares Inc. (EBC) announced the completion of its merger with Cambridge Bancorp. The deal, announced in September 2023 with a 100% stock consideration, aligns with the company's inorganic growth strategy. At the time of announcing the deal, it was noted that the combined company would have approximately $27.1 billion in total assets,$18 billion in total loans, $22.6 billion in deposits and$7.6 billion of assets under management and administration. These efforts indicate the strategic redeploym ...