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AI brief of an SEC Form 8-K · Eastern Bankshares (EBC)

Eastern Bankshares agrees to acquire HarborOne Bancorp in a deal valued near $490 million

Neutral Impact 5 of 5 m&a Written later

Eastern Bankshares and HarborOne Bancorp signed a merger agreement on April 24, 2025, under which HarborOne will merge into Eastern, with HarborOne holders able to elect Eastern stock or $12.00 cash per share. The companies expect the merger to close in the fourth quarter of 2025, subject to regulatory and HarborOne shareholder approvals, and the filing says no vote of Eastern shareholders is required.

Key points

  • HarborOne holders can elect 0.765 Eastern common shares or $12.00 in cash per share, with stock making up between 75% and 85% of HarborOne shares.
  • Eastern's press release values the deal at about $490 million, based on its $15.48 closing price on April 23, 2025, assuming 80% stock consideration.
  • The merger is expected to close in the fourth quarter of 2025, with an option to defer to February 20, 2026 in some cases.
  • HarborOne directors and executive officers, holding about 3.92% of its common stock, signed voting agreements; HarborOne would pay a $18,900,000 termination fee in certain circumstances.

The filing

CompanyEastern Bankshares (EBC)
Form8-K, current report
Filed with the SECApr 24, 2025, 5:01 PM ET
Accession number0001193125-25-093671

Items reported: 1.01 Material Definitive Agreement5.02 Director / Officer Change7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:05 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 24, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.