Brookline's East Boston Savings Bank To Become HarborOne Bank

Brookline MA

23 September, 2021

11:13 AM

Description

BROOKLINE, MA — The East Boston Savings Bank branch on Harvard St. in Brookline is one of four locations that will close and reopen as HarborOne Bank, said Rockland Trust Company in a news release Thursday. According to Rockland Trust, which acquired East Boston Savings Bank as part of a merger agreement earlier this year, the transfer agreement with HarborOne will preserve jobs and maintain financial services to local communities. "Due to the considerable overlap in Rockland Trust and East Boston Savings Bank's respective footprints, we knew that branch closures were inevitable, but we were determined to explore ways to minimize the employee and community impact," said Robert Cozzone, Chief Operating Officer and Executive Vice President of Consumer and Business Banking at Rockland Trust. "It is very rare for competitors in the financial services industry to come together in an agreement like this, but we're confident that by entering into transactions with Metro Credit Union and HarborOne to transfer these locations, we are doing what's right for the colleagues who work in these branches and the neighborhoods these branches serve," he continued. This transaction means that HarborOne will acquire four physical branch locations and continue to employ those working there, a similar agreement to the one made between Rockland Trust and Metro Credit Union earlier this month. The other three East Boston Savings Bank branches that will reopen as HarborOne include 1952-1956 Beacon St. in Brighton, 1608 Comm Ave in Brighton, and 1739 Mass Ave in Cambridge.