The Financial Services and Banking teams advised HarborOne Bancorp ("HarborOne") on a definitive merger agreement with Eastern Bankshares, Inc. ("Eastern") pursuant to which HarborOne will merge with and into Eastern in a stock and cash transaction valued at approximately $490 million. The combined company is expected to have $31 billion in assets, $26 billion in deposits, and $8.5 billion in assets under management.
HarborOne Bancorp, Inc. is the holding company for HarborOne Bank, a Massachusetts-chartered trust company. HarborOne Bank serves the financial needs of consumers, businesses, and municipalities throughout Eastern Massachusetts and Rhode Island through a network of 30 full-service banking centers located in Massachusetts and Rhode Island, and commercial lending offices in Boston, Massachusetts and Providence, Rhode Island. HarborOne Bank also provides a range of educational resources through "HarborOne U," with free digital content, webinars, and recordings for small business and personal financial education. HarborOne Mortgage, LLC, a subsidiary of HarborOne Bank, provides mortgage lending services throughout New England and other states.
The Goodwin team representing HarborOne was led by Samantha Kirby.
For more information on the deal, please read the press release.