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Eastern Bank


Overview / Commentary
www.easternbank.com
617-897-1101
265 Franklin Street
Boston, MA 02110

Eastern Bank is headquartered in BOSTON and is the 2nd largest bank in the state of Massachusetts. It is also the 86th largest bank in the nation. It was established in 1989 and as of March of 2023, it had grown to 2,078 employees at 100 locations. Eastern Bank's CD rates are 6X the national average, and it has a C+ health rating.

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Reviews (3)

My favorite bank ever!!

Posted by: |

I love Eastern bank. I have been with them for 20 years now. I have had other bank accounts at the same time, but I now have Eastern bank as my only source of banking. I tend to overdraft a lot of checks and they have a great overdraft protection policy. The tellers that I deal with at the Hyannis branch are really friendly and helpful as well. When I call customer service I always get a nice person. Best bank in New England!!

4

Banking with Eastern

Posted by: |

We had an Eastern Bank near our house, so we decided to use them. We met with a bank manager who opened up the savings account for us. The process was quite easy since we brought in all the necessary paperwork and we were done in 30 minutes or so. The only problem that we have experienced is trying to connect Eastern Banks sites to Apps. It would make budgeting so much easier if they were compatible.Other than that, the people are helpful and the accounts are reasonable.

2

Hard Inquiry

Posted by: |

After filling out a form on their website, they ran a Hard Inquiry via Factual Data.

After seeing my scores, roughly 670, they decided that it wasn't in their interest to contact me.

Why do business with a company with such practices?

7


Health
C+

Data as of Q1 2023

Learn why bank health matters
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. Eastern Bank has a negative return on equity.

Health Grade Components

Overall
FDIC Certificate #32773
Year Established1989
Employees2078
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-3.41%
Return on Equity - YTD-32.34%
Annual Interest Income$189.7MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$22.70B$22.81B
LoansQ1 2023vs Q1 2022$13.52B$12.03B
DepositsQ1 2023vs Q1 2022$18.68B$19.52B
Equity CapitalQ1 2023vs Q1 2022$2.45B$2.88B
Loan Loss AllowanceQ1 2023vs Q1 2022$140.9MM$124.2MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$32.9MM$31.0MM
Real Estate OwnedQ1 2023vs Q1 2022$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Eastern Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Eastern Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.01%$10-Statement Savings
0.01%--Business Savings Account

Eastern Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.56%*$250k*-Featured Premier Money Market
OTHER TIERS: 0.10% → $10 - $10k | 0.50% → $10k - $100k | 2.53% → $100k - $250k
3.04%*$250k*-Business Featured Select Money Market
OTHER TIERS: 0.10% → $10 - $10k | 0.50% → $10k - $100k | 2.53% → $100k - $250k
0.50%*$10k*-Premier Money Market
OTHER TIERS: 0.10% → $10 - $10k
0.50%*$10k*-Prime Liquid Assets
OTHER TIERS: 0.10% → $10 - $10k
0.50%*$10k*-Business Select Money Market
OTHER TIERS: 0.10% → $10 - $10k
0.50%*$10k*-Business Prime Liquid Assets
OTHER TIERS: 0.10% → $10 - $10k

Eastern Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$5m*-IOLTA Checking
OTHER TIERS: 0.25% → $10 - $5m
0.01%--Premier Checking
0.01%--Business Interest Checking

Eastern Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.27%$2.5k-9 Month Featured CD Special
5.27%$2.5k-Business 9 Month Featured CD Special
5.11%$2.5k-12 Month Featured CD Special
5.11%$2.5k-Business 12 Month Featured CD Special
5.05%$2.5k-6 Month Featured CD Special
5.05%$2.5k-Business 6 Month Featured CD Special
0.20%$500-12-23 Month Premier CD
0.20%$500-24-35 Month Premier CD
0.20%$500-36-47 Month Premier CD
0.20%$500-48-59 Month Premier CD
0.20%$500-60+ Month Premier CD
0.20%$500-Business 12-23 Month Select Account CD
0.20%$500-Business 24-35 Month Select Account CD
0.20%$500-Business 36-47 Month Select Account CD
0.20%$500-Business 48-59 Month Select Account CD
0.20%$500-Business 60+ Month Select Account CD
0.15%$500-24-35 Month Personal CD
0.15%$500-36-47 Month Personal CD
0.15%$500-48-59 Month Personal CD
0.15%$500-60+ Month Personal CD
0.15%$500-Business 24-35 Month CD
0.15%$500-Business 36-47 Month CD
0.15%$500-Business 48-59 Month CD
0.15%$500-Business 60+ Month CD
0.10%$500-12-23 Month Personal CD
0.10%$500-Business 12-23 Month CD
0.05%$2.5k-3-5 Month Personal CD
0.05%$2.5k-6-11 Month Personal CD
0.05%$2.5k-3-5 Month Premier CD
0.05%$2.5k-6-11 Month Premier CD
0.05%$2.5k-Business 3-5 Month Select Account CD
0.05%$2.5k-Business 6-11 Month Select Account CD
0.05%$2.5k-Business 3-5 Month CD
0.05%$2.5k-Business 6-11 Month CD

Eastern Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.27%$2.5k-9 Month Featured IRA Special
5.11%$2.5k-12 Month Featured IRA Special
5.05%$2.5k-6 Month Featured IRA Special
0.20%$500-12-23 Month Premier IRA
0.20%$500-24-35 Month Premier IRA
0.20%$500-36-47 Month Premier IRA
0.20%$500-48-59 Month Premier IRA
0.20%$500-60+ Month Premier IRA
0.15%$500-24-35 Month Personal IRA
0.15%$500-36-47 Month Personal IRA
0.15%$500-48-59 Month Personal IRA
0.15%$500-60+ Month Personal IRA
0.10%$500-12-23 Month Personal IRA
0.05%$2.5k-6-11 Month Premier IRA
0.05%$10-12 Month Variable IRA
0.05%$2.5k-6-11 Month Personal IRA
Locations

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