Latest news with #BobRivers
Yahoo
a day ago
- Business
- Yahoo
Salute to Scouting gala honors local leaders in banking, sustainable investments
Two local leaders were honored at the 45th annual Salute to Scouting Gala at the Boston Harbor Hotel on Tuesday. Bob Rivers, executive chairman of Eastern Bank, was presented with the 45th Ralph Lowell Distinguished Citizen Award, praising him for his charitable contributions for social and economic justice. Amy Domini, founder of The Sustainability Group and Domini Funds, was presented with the 40th T.L. Storer Conservation Leadership Award for her pioneering work in sustainable investing. 'With challenges like tech overload, loneliness, and a disconnect from nature, we must step up to meet the needs of our youth,' Scouting Boston CEO John Judge said. 'The values and experiences Scouting provides have never been more important. Bob Rivers and Amy Domini epitomize the leadership, community service and values inherent in the Scouting program's aims.' Former Boston Police Commissioner William Gross, a former Scout Explorer leader in his own right, served as master of ceremonies. Download the FREE Boston 25 News app for breaking news alerts. Follow Boston 25 News on Facebook and Twitter. | Watch Boston 25 News NOW
Business Journals
19-05-2025
- Business
- Business Journals
Honoring a Champion for Community and Service
Scouting America is proud to announce that Bob Rivers, Executive Chair and Chair of the Board of Directors at Eastern Bank, will be recognized as the 45th recipient of the Ralph Lowell Distinguished Citizen Award at the 2025 Salute to Scouting on Wednesday, June 4th at the Boston Harbor Hotel. Bob's visionary leadership and unwavering commitment to community have inspired others to lead with purpose. His work exemplifies the Scout Oath and Law —service above self, a life of integrity, and dedication to community. Join us in celebrating Bob's incredible contributions and the values that bind us together as a community.
Yahoo
26-04-2025
- Business
- Yahoo
Eastern Bank to broach Rhode Island with $490M HarborOne deal
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Eastern Bankshares will merge with Brockton, Massachusetts-based HarborOne in a $490 million stock-and-cash deal that would push the Boston-based lender's brick-and-mortar footprint into Rhode Island for the first time, the banks said Thursday. The transaction, set to close in the fourth quarter, will add 30 locations to Eastern's 109-branch presence and bolster the $25 billion-asset bank with a further $5.7 billion in assets. HarborOne shareholders will receive a choice of either 0.765 Eastern shares or $12 cash for each HarborOne share they own, as long as 75% to 85% of the overall payout is in stock. The deal's $490 million value is based on an 80% stock-to-cash ratio – meaning Eastern would issue $99 million in cash, along with 25.2 million shares at $15.48 each, the stock's closing price from Wednesday. The deal announcement comes just one day after Columbia Banking System said it would buy Pacific Premier Bank in a $2 billion transaction meant to boost its presence in Southern California. Taken together, the Columbia and Eastern deals lend credence to the idea that an expected surge in banking mergers and acquisitions following President Donald Trump's reelection may just have needed the right trigger. The Federal Reserve and Office of the Comptroller of the Currency last Friday gave a green light to Capital One's $35.3 billion proposed acquisition of Discover, the largest banking merger in at least six years. Capital One and Columbia mergers notwithstanding, Eastern has shown a particular cadence with its acquisitions: It has tended to expand through purchases roughly every other year. The Boston bank announced it would buy Cambridge Bank for $528 million in 2023, and Century Bank for $642 million in 2021. Bob Rivers, Eastern's chair, called HarborOne a 'highly recognized institution in our local market.' 'We share a deep commitment to customers, colleagues and communities,' Rivers said. Once the transaction closes, HarborOne directors will get two seats on Eastern's board, including one to be occupied by CEO Joseph Casey. 'Today's announcement is a testament to the strength of our franchise and dedication of our team,' Casey said. 'Partnering with Eastern brings further scale, resources and innovation to deliver long-term value and enhanced banking experiences to our customers and local communities. We look forward to building upon the legacy forged by HarborOne for over a century.' Eastern CEO Denis Sheahan touted the deal's 16% earnings accretion, noting that Eastern would earn back its tangible book value in 2.8 years. Sheahan called HarborOne 'a natural strategic fit with shared values, vision and focus on customer-centric banking.' 'We look forward to introducing HarborOne customers to an enhanced array of products and services,' he said. That includes Eastern's wealth business, which manages $8.4 billion in assets – largely inherited through the Cambridge acquisition. HarborOne, for its part, counts a sizable mortgage-lending business. Additionally, its HarborOne U program offers educational resources such as free digital content, webinars and recordings aimed at small-business owners and clients seeking personal-finance help. Sign in to access your portfolio
Business Wire
24-04-2025
- Business
- Business Wire
Eastern Bankshares, Inc. and HarborOne Bancorp, Inc. Enter Into Definitive Agreement To Merge
BOSTON & BROCKTON, Mass.--(BUSINESS WIRE)--Eastern Bankshares, Inc. ('Eastern' or 'the Company') (Nasdaq: EBC), the holding company for Eastern Bank, and HarborOne Bancorp ('HarborOne') (Nasdaq: HONE), the holding company for HarborOne Bank, today jointly announced they have entered into a definitive merger agreement pursuant to which HarborOne will merge with and into Eastern in a stock and cash transaction. Under the terms of the merger agreement, which has been unanimously adopted by both boards of directors, shareholders of HarborOne will receive for each share of HarborOne common stock, at the holder's election, either (i) 0.765 shares of Eastern common stock (the 'Stock Consideration') or (ii) $12.00 in cash (the 'Cash Consideration'), subject to allocation procedures to ensure that the total number of shares of HarborOne common stock that receive the Stock Consideration represents between 75% and 85% of the total number of shares of HarborOne common stock outstanding immediately prior to the completion of the merger. The transaction is intended to qualify as a tax-free reorganization for federal income tax purposes and to provide a tax-free exchange for HarborOne shareholders for the Stock Consideration they will receive. Assuming 80% Stock Consideration, the midpoint of the range, Eastern anticipates issuing approximately 25.2 million shares of its common stock and paying an aggregate amount of $99 million in cash in the merger. Based upon Eastern's $15.48 per share closing price on April 23, 2025, the transaction is valued at approximately $490 million. 'We are excited about this partnership which bolsters our already strong and long-standing presence in Greater Boston and expands our footprint into Rhode Island,' said Bob Rivers, Executive Chair and Chair of the Board of Directors of the Company and Eastern Bank. 'HarborOne is a highly recognized institution in our local market, and we share a deep commitment to customers, colleagues and communities.' Denis Sheahan, Chief Executive Officer of the Company and Eastern Bank, added, 'The combination is a natural strategic fit with shared values, vision, and focus on customer-centric banking. We look forward to introducing HarborOne customers to an enhanced array of products and services offered by our banking and wealth management businesses. Importantly, it is a financially compelling transaction with 16% earnings accretion and a tangible book value earnback of 2.8 years. There are clear opportunities to generate higher returns, improve operating efficiency, and deliver sustained value to shareholders.' 'Today's announcement is a testament to the strength of our franchise and dedication of our team,' said Joseph F. Casey, President and Chief Executive Officer of HarborOne. 'Partnering with Eastern brings further scale, resources, and innovation to deliver long-term value and enhanced banking experiences to our customers and local communities. We look forward to building upon the legacy forged by HarborOne for over a century.' The merger is expected to close in the fourth quarter of 2025, subject to the satisfaction of certain conditions, including the receipt of required regulatory approvals, approval of HarborOne shareholders, and other customary conditions. No vote of Eastern shareholders is required. All HarborOne directors and executive officers have agreed to vote in favor of the merger. In connection with the closing, Joseph Casey and one other director from HarborOne are expected to be elected to Eastern's Board of Directors. Eastern has $25.0 billion in assets, the largest deposit market share in both the Boston MSA and Massachusetts of any bank headquartered in Massachusetts, and the largest bank-owned independent investment advisor in Massachusetts with $8.4 billion in assets under management. HarborOne Bank, founded in 1917, has $5.7 billion in assets, 30 banking centers in Massachusetts and Rhode Island, and operates HarborOne Mortgage, LLC, which provides mortgage lending services throughout New England and other states. J.P. Morgan Securities LLC served as financial advisor and Nutter McClennen & Fish LLP provided legal counsel to Eastern. Raymond James & Associates, Inc. served as financial advisor and Goodwin Procter LLP provided legal counsel to HarborOne. Conference Call and Investor Presentation Information The merger will be discussed in conjunction with Eastern's first quarter 2025 earnings results on Friday, April 25, 2025 at 9:00 a.m. Eastern Time. To join by telephone, participants can call the toll-free dial-in number (800) 549-8228 from within the U.S. and reference conference ID 70523. The conference call will be simultaneously webcast. Participants may join the webcast on the Company's Investor Relations website at A presentation providing additional information for the quarter is also available at A replay of the webcast will be available on this site. About Eastern Bankshares, Inc. Eastern Bankshares, Inc. is the holding company for Eastern Bank. Founded in 1818, Eastern Bank is Greater Boston's leading local bank with 109 branch locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, Rhode Island and Connecticut. As of March 31, 2025, Eastern Bank had approximately $25.0 billion in assets. Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes including through its Cambridge Trust Wealth Management division, the largest bank-owned independent investment advisor in Massachusetts with $8.4 billion in assets under management, and takes pride in its outspoken advocacy and community support that includes more than $240 million in charitable giving since 1994. An inclusive company, Eastern is comprised of deeply committed professionals who value relationships with their customers, colleagues and communities. For investor information, visit About HarborOne Bancorp, Inc. HarborOne Bancorp, Inc. is the holding company for HarborOne Bank, a Massachusetts-chartered trust company. HarborOne Bank serves the financial needs of consumers, businesses, and municipalities throughout Eastern Massachusetts and Rhode Island through a network of 30 full-service banking centers located in Massachusetts and Rhode Island, and commercial lending offices in Boston, Massachusetts and Providence, Rhode Island. HarborOne Bank also provides a range of educational resources through 'HarborOne U,' with free digital content, webinars, and recordings for small business and personal financial education. HarborOne Mortgage, LLC, a subsidiary of HarborOne Bank, provides mortgage lending services throughout New England and other states. Caution Regarding Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. You can identify these statements from the use of the words 'may,' 'will,' 'should,' 'could,' 'would,' 'plan,' 'potential,' 'estimate,' 'project,' 'believe,' 'intend,' 'anticipate,' 'expect,' 'target' and similar expressions. Forward-looking statements, by their nature, are subject to risks and uncertainties. There are many factors that could cause actual results to differ materially from expected results described in the forward-looking statements. Factors relating to the proposed transaction that could cause or contribute to actual results differing materially from expected results include, but are not limited to, the possibility that revenue or expense synergies or the other expected benefits of the transaction may not materialize in the timeframe expected or at all, or may be more costly to achieve; that the transaction may not be timely completed, if at all; that prior to the completion of the transaction or thereafter, Eastern or HarborOne may not perform as expected due to transaction-related uncertainty or other factors; that Eastern is unable to successfully implement its integration strategies; that required regulatory, shareholder or other approvals are not obtained or other closing conditions are not satisfied in a timely manner or at all; that the timing of completion of the proposed merger is dependent on various factors that cannot be predicted with precision at this point; reputational risks and the reaction of the companies' customers to the transaction; the inability to implement onboarding or transition plans and other consequences associated with the merger; continued pressures and uncertainties within the banking industry and Eastern and HarborOne's markets, including changes in interest rates and deposit amounts and composition, adverse developments in the level and direction of loan delinquencies, charge-offs, and estimates of the adequacy of the allowance for loan losses, increased competitive pressures, asset and credit quality deterioration, and legislative, regulatory, and fiscal policy changes and related compliance costs; and diversion of management time on transaction-related issues. These forward-looking statements are also subject to the risks and uncertainties applicable to our respective businesses generally that are disclosed in Eastern's and HarborOne's respective 2024 Annual Reports on Form 10-K. Eastern's and HarborOne's SEC filings are accessible on the SEC's website at and on their respective corporate websites at and These web addresses are included as inactive textual references only. Information on these websites is not part of this document. For any forward-looking statements made in this press release, Eastern and HarborOne claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Except as required by law, each company specifically disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. No Offer or Solicitation This press release is not a proxy statement or solicitation or a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of the Company or HarborOne, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, and otherwise in accordance with applicable law. Additional Information and Where to Find It In connection with the proposed merger transaction, the Company intends to file with the SEC a Registration Statement on Form S-4 that will include a Proxy Statement of HarborOne and a Prospectus of the Company (the 'proxy statement/prospectus'), as well as other relevant documents concerning the proposed transaction. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. INVESTORS AND SHAREHOLDERS OF THE COMPANY AND HARBORONE ARE URGED TO READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS REGARDING THE TRANSACTION WHEN IT BECOMES AVAILABLE AND EACH OTHER RELEVANT DOCUMENT FILED WITH THE SEC, AS WELL AS ANY AMENDMENT OR SUPPLEMENT TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. A copy of the definitive proxy statement/prospectus, as well as other filings containing information about the Company and HarborOne, can be obtained without charge, at the SEC's website ( Copies of the proxy statement/prospectus and the filings with the SEC that will be incorporated by reference in the proxy statement/prospectus can also be obtained, without charge, by directing a request to the Company's Investor Relations via email at or by telephone at (860) 707-4432, or to HarborOne Investor Relations via email at SFinocchio@ or by telephone at (508) 895-1180. Participants in the Solicitation HarborOne and certain of its directors and executives may be deemed to be participants in the solicitation of proxies from the shareholders of HarborOne in connection with the proposed transaction under the rules of the SEC. Information regarding HarborOne's directors and executive officers is available in its definitive proxy statement relating to its 2025 Annual Meeting of Shareholders, which was filed with the SEC on April 1, 2025, its Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on March 6, 2025, and other documents filed by HarborOne with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, will be included in the proxy statement/prospectus and other relevant materials filed with the SEC, which may be obtained free of charge as described in the preceding paragraph. 1 Top quartile profitability for 2026 estimates versus the KBW Nasdaq Regional Banking Index
Yahoo
13-03-2025
- Yahoo
FBI urges public to delete WA Good to Go text scam messages. Here's why
The Brief The FBI and WSDOT warn of a new text scam targeting U.S. and Canadian residents. Scammers send fake texts about overdue tolls, linking to fraudulent websites. Recipients are advised not to click the links and to verify bills via official channels. SEATTLE - The FBI and the Washington State Department of Transportation are warning residents about a new Good to Go text message scam targeting people in the U.S. and parts of Canada. Keep reading to learn more about the WSDOT Good to Go text scam and what to do if you receive a message. WSDOT announced the fake text scam on social media Wednesday morning. "We're getting reports of fake texts warning of overdue bills and asking for payments or threatening legal action," WSDOT said. "These aren't from Good To Go! and link to a fake website." WSDOT is urging users not to click on the link to the fake website. Customers are also encouraged to visit WSDOT's website, to verify if they have a bill due. According to the FBI, these SMS texts, also known as "smishing" texts, are targeting iPhone and Android users across the United States. The FBI is warning anyone who receives these texts to delete them immediately. As reported by FOX 5 DC, cybersecurity firm Palo Alto Networks' Unit 42 reports these latest threats involve the creation of over 10,000 domains with a consistent naming pattern, which are being used in potential smishing schemes. These scams impersonate toll services and package delivery companies in multiple U.S. states, including Virginia, California, Florida, Illinois, Kansas, Massachusetts, Pennsylvania, New Jersey, New York and Texas, as well as the Canadian province of Ontario. The scam aims to trick people into revealing sensitive personal and financial data, such as credit or debit card numbers and bank account information. The new scheme also targets iPhone users by exploiting a feature that blocks links in iMessages from unknown contacts. To bypass this security, the scam texts instruct recipients to reply with a "Y" and reopen the message, which allows iMessage to display the malicious links, according to Palo Alto Networks. According to McAfee, an antivirus, identity and privacy protection company, the U.S. cities facing the biggest influx of toll road scams include the following: Seattle, Washington Dallas, Texas Atlanta, Georgia Los Angeles, California Chicago, Illinois Orlando, Florida Miami, Florida San Antonio, Texas Las Vegas, Nevada Houston, Texas Denver, Colorado San Diego, California Phoenix, Arizona Seattle, Washington Indianapolis, Indiana Boardman, Ohio The Source Information for this article came from the Washington State Department of Transportation, the FBI, McAfee and FOX 5 DC. Seattle radio legend Bob Rivers dies at 68 after cancer battle Missing Oregon toddler found dead in Siletz River, authorities confirm Father 'deeply concerned' for British cartoonist locked up at Tacoma ICE detention enter Fire destroys, damages multiple Cybertrucks in Seattle lot Bryan Kohberger defense ramps up legal maneuvers in bid to keep Idaho murders suspect off death row To get the best local news, weather and sports in Seattle for free, sign up for the daily FOX Seattle Newsletter. Download the free FOX LOCAL app for mobile in the Apple App Store or Google Play Store for live Seattle news, top stories, weather updates and more local and national coverage, plus 24/7 streaming coverage from across the nation.
