265 Franklin Street
Boston, MA 2110
1-800-EASTERN (327-8376)
www.easternbank.com

FDIC


Eastern Bank is headquartered in Boston and is the 2nd largest bank in the state of Massachusetts. It is also the 125th largest bank in the nation. It was established in 1989 and as of December of 2012, it had grown to 1,558 employees at 99 locations. Eastern Bank has a 5-star health rating.



See Rates for: Checking | Savings | Money Market | CD

Eastern Bank Checking Account Rates

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0.02%--Premier Checking

Eastern Bank Savings Account Rates

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0.10%$10k-Prime Liquid Assets
0.05%--Passbook Savings
0.05%--Statement Savings

Eastern Bank Money Market Rates

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0.10%$10k-Premier Money Market

Eastern Bank CD Rates

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0.60%$500-60 + Month Premier CD
0.50%$500-60 + Month Personal CD
0.50%$500-48 - 59 Month Premier CD
0.40%$500-48 - 59 Month Personal CD
0.40%$500-36 - 47 Month Premier CD
0.30%$500-36 - 47 Month Personal CD
0.30%$500-24 - 35 Month Premier CD
0.20%$500-24 - 35 Month Personal CD
0.20%$500-12 - 23 Month Premier CD
0.10%$500-12 - 23 Month Personal CD
0.05%$2,500-3 - 5 Month Personal CD
0.05%$2,500-6 - 11 Month Personal CD
0.05%$2,500-3 - 5 Month Premier CD
0.05%$2,500-6 - 11 Month Premier CD

Rates updated: 5/21/2013

Data for Q4 2012


Institution Statistics


Eastern Bank
OTS #12134
FDIC Certificate #32773
BankRate ReportView
Year Established1989
Employees1558
Primary RegulatorFDIC

Assets and Liabilities

Assets$8.58 billion
Loans$4.55 billion
Deposits$6.96 billion
Equity Capital$1.05 billion
Loan Loss Allowance$71.09 million
Unbacked Noncurrent Loans$52.36 million
Real Estate Owned$8.10 million

Historic Data - December 2011

Assets$7.81 billion
Equity Capital$961.56 million
Loan Loss Allowance$77.59 million
Unbacked Noncurrent Loans$58.29 million
Real Estate Owned$5.10 million

Profit Margin - Quarterly

Net Interest Margin3.12%
Return on Assets0.75%
Return on Equity6.07%
Interest Income$236.76 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2012 Eastern Bank had $60.46 million in non-current loans and owned real-estate with $1.12 billion in equity and loan loss allowances on hand to cover it. This gives Eastern Bank a Texas Ratio of 5.40% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Eastern Bank held steady from 5.72% as of December 31, 2011 to 5.40% as of December 31, 2012, resulting in a positive change of 5.54%.This indicates that the balance sheet and financial strength for Eastern Bank has held steady in recent periods.
Deposit Growth5
In the past year, Eastern Bank has increased its total deposits by $663.82 million, resulting in 10.54% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Eastern Bank has shown is excellent.
Capitalization5
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Eastern Bank has $8.58 billion in assets with $1.12 billion in equity, resulting in a capitalization level of 13.05%, which is excellent.
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