The History of East Boston Savings Bank
East Boston Savings Bank held its first meeting of incorporation on October 4, 1848, 218 years after the puritans first sailed to Boston Harbor. During that period before the bank began, the area called Noddles Island had grown from pastures and woodlands into a center of commerce highlighted by shipbuilding, carpentry, sugar refining and iron foundries. Those early merchants and world-famous shipbuilders were the leaders in the formation of East Boston Savings Bank.
Piers Park, East Boston
The modern history of East Boston is a story of immigrant waves. People from Ireland, Italy, South and Central America, and Southeast Asia have made the neighborhood their home, thereby making this community as vibrant and interesting as any in Boston
Since 1848 East Boston Savings Bank has continually endeavored to uphold the principles and ideals its founders set forth. As a major employer, and an integral part of the community, we remain dedicated to fostering growth and prosperity in the communities we serve.
In 2006, Meridian Interstate Bancorp, Inc. (“Meridian Interstate”) was established to be the mid-tier bank holding company for East Boston Savings Bank. Meridian Interstate’s primary business activity is the ownership of the outstanding capital stock of East Boston Savings Bank. The common stock of Meridian Interstate is listed on the Nasdaq Global Select Market and trades under the ticker symbol “EBSB.”
Castle Island, South Boston
In July 2009, Meridian Interstate entered into a merger agreement to acquired Mt. Washington Bank, a $516 million institution located in South Boston. In 2010 the Mt. Washington division began operating as “Mt. Washington Bank, A Division of East Boston Savings Bank allowing customers of both divisions to access 27 branches between the two divisions.
EBSB will continue to grow by providing exceptional financial services and by treating our customers as individuals. Fulfilling this commitment to quality service means taking the extra time to understand our customers’ financial needs and providing them with the right financial solutions.
All of EBSB’s deposits are insured in full as a member of both the Federal Deposit Insurance Corporation (FDIC) and the Deposit Insurance Fund of Massachusetts (DIF).