Eastern Bank Corporation Announces Plans to Acquire MASSBANK Corp.
Parties:
>Eastern Bank is the largest independent, mutually owned commercial banking franchise in New England. With $6.8 billion in assets and 74 branches stretching from Merrimack Valley to Cape Cod(http://www.easternbank.com/)
>MASSBANK is a Massachusetts-chartered savings bank founded in 1872 as the Melrose Savings Bank. In 1983, the Reading Savings Bank was merged with and into the Melrose Savings Bank and the name of the resulting institution was changed to MASSBANK for Savings. In 1986, the Bank converted from mutual to stock form of ownership. MASSBANK has $800 million in assets and 15 branches serving Middlesex County. (http://www.massbank.com/)
