Eastern Bankshares, the holding company for Eastern Bank, and HarborOne Bancorp, the holding company for HarborOne Bank, jointly announced they have received all the necessary regulatory approvals to complete their proposed merger, which was previously announced on April 24, 2025. Eastern and HarborOne expect the Merger to close on or about Nov. 1, 2025.
“We are pleased to have received the required regulatory approvals for our Merger with HarborOne and look forward to completing the integration of our two companies early next year,” said Bob Rivers, Executive Chair and Chair of the Board of Directors of Eastern Bankshares and Eastern Bank. “This partnership will create a $30 billion locally-based, community-focused organization that bolsters Eastern’s leading presence in Greater Boston and expands our branch network into Rhode Island. We look forward to leveraging the combination of our organizations to add greater value for our colleagues, customers, community partners and shareholders.”
Denis Sheahan, CEO of Eastern, added, “We are grateful to the teams at both banks for their outstanding contributions to our companies. We look forward to welcoming our newest colleagues to Eastern, as we maintain our focus on ensuring a smooth transition for our customers and community partners, while delivering exceptional banking and wealth management solutions across our expanded footprint.”
Joseph F. Casey, HarborOne’s President and CEO, said, “This is an exciting time as our two banks come together. We share a deep commitment to colleague development, personalized customer service and community engagement. I am thrilled to be joining the Eastern Boards and look forward to our future together.”
On April 24, 2025, Eastern and HarborOne announced they had entered into a definitive agreement to merge. On Aug. 20, 2025, shareholders of HarborOne approved all matters in support of the Merger.
For approximately four months following the completion of the Merger, HarborOne Bank will operate as a division of Eastern Bank and customers will be served through their respective Eastern Bank and HarborOne Bank branches, websites, mobile applications and representatives until the full integration of banking systems. The conversion of HarborOne banking and mortgage products and services to Eastern Bank’s systems is expected to occur over the weekend of Feb. 21, 2026. HarborOne customers will be receiving communications regarding product and account conversions in advance of that conversion.