WHAT IS THE HISTORY OF EAST BOSTON SAVINGS BANK?
East Boston Savings Bank has operated under the same name since holding its first meeting of incorporation on October 4, 1848. On January 17, 1849, the first official business day of the Bank, 57 people deposited $2,999.00 at the Bank’s Maverick Square Office, since then the bank has grown to nearly $1 billion in assets. Most of that growth has been achieved under the bank’s current senior management team. On September 1, 1991 East Boston Savings Bank became a stock savings bank and a wholly owned subsidiary of Meridian Mutual Holding Company, now known as Meridian Financial Services, Inc. In 2006, Meridian Financial Services, Inc. formed a mid-tier holding company called Meridian Interstate Bancorp, Inc. This company seeded a new commercial stock bank in southern New Hampshire known as Hampshire First. In 2007, the directors of Meridian Interstate Bancorp, Inc. decided to pursue a partial mutual-to-stock conversion. The ownership of EBSB would remain with Meridian Interstate Bancorp,
