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    CNBKA   US1564321065

CNTRY BNC

(CNBKA)
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SEastern Bankshares, Inc. and Century Bancorp, Inc. Receive the Necessary Regulatory Approvals from the Commonwealth of Massachusetts Division of Banks, the Federal Deposit Insurance Corporation, and the Board of Governors of the Federal Reserve System to Complete Their Proposed Merger

09/27/2021 | 05:05pm EST

Eastern Bankshares, Inc. the stock holding company for Eastern Bank, and Century Bancorp, Inc., the stock holding company for Century Bank and Trust Company (“Century Bank”), a full service commercial bank with a full range of business, personal and institutional services, jointly announced they have received the necessary regulatory approvals from the Commonwealth of Massachusetts Division of Banks, the Federal Deposit Insurance Corporation, and the Board of Governors of the Federal Reserve System to complete their proposed merger (the “Merger”). The Merger is expected to close in the mid-fourth quarter of 2021. On April 7, 2021, Eastern and Century announced they had entered into a definitive agreement to merge. On July 7, 2021, Century’s shareholders approved the agreement and plan of merger. The Merger is expected to solidify Eastern’s leading position in Boston and Eastern Massachusetts.


ę S&P Capital IQ 2021
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Financials (USD)
Sales 2020 120 M - -
Net income 2020 42,2 M - -
Net Debt 2020 85,1 M - -
P/E ratio 2020 10,2x
Yield 2020 0,70%
Capitalization 89,3 M 89,3 M -
EV / Sales 2019 7,39x
EV / Sales 2020 3,06x
Nbr of Employees 443
Free-Float -
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Managers and Directors
Barry R. Sloane Chairman, President & Chief Executive Officer
William P. Hornby Chief Financial Officer & Treasurer
George R. Baldwin Independent Director
Russell B. Higley Independent Director
Fraser Lemley Independent Director