Eastern Bankshares to acquire HarborOne; shareholders elect 0.765 shares or $12 cash

Eastern Bankshares, Inc.

HarborOne shareholders can elect 0.765 Eastern shares or $12 cash per share, subject to proration between 75%-85% stock consideration.
Deal expected to close Q4 2025; can be deferred to Feb 20, 2026. Termination fee of $18.9M from HarborOne.
Voting agreements with all HarborOne directors and executives (~3.92% of shares) to vote in favor.
Upon closing, HarborOne CEO Joseph Casey and one other director to join Eastern's board.
Merger requires regulatory approvals and HarborOne shareholder vote; unanimous board approval on both sides.

item 1.01 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Joseph F. Casey

Director

EBC · Eastern Bankshares, Inc.

Filed: April 24, 2025, 7:59 PM ET

Upon and subject to the completion of the Merger, Joseph F. Casey, HarborOne’s President and Chief Executive Officer, and one other current member of the HarborOne board of directors will join the respective Boards of Directors of the Company and Eastern Bank.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph F. Casey was appointed as Director at Eastern Bankshares, Inc..

Action: will join
Role: Director

Exact text from the filing

Upon and subject to the completion of the Merger, Joseph F. Casey, HarborOne’s President and Chief Executive Officer, and one other current member of the HarborOne board of directors will join the respective Boards of Directors of the Company and Eastern Bank.

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Eastern Bankshares, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-093671

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