secwatch.observer — SEC 8-K summary
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Issuer:     Eastern Bankshares, Inc. (EBC)
CIK:        0001810546
Form:       8-K
Filed at:   2023-10-31T23:59:59+00:00
Accession:  0001193125-23-267310
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eastern Bankshares completes sale of Eastern Insurance to Gallagher for $511M cash
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- Transaction closed on Oct 31, 2023; purchase price approximately $511 million in cash, subject to working capital adjustments.
- Eastern Insurance serves over 75,000 individuals/businesses and represents more than 50 national/regional insurance carriers.
- CEO Bob Rivers says sale enables stronger focus on core banking growth; Gallagher to remain insurance brokerage partner.
- Company expects to file unaudited pro forma financial statements by November 6, 2023, giving effect to the asset sale.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810546/000119312523267310/0001193125-23-267310-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810546/000119312523267310/d923226d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-267310

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer