News Brief

EBSB Named 2021 Best Small Bank in Massachusetts by Newsweek

Newsweek recognizes East Boston Savings Bank (EBSB) as Massachusetts’ 2021 Best Small Bank in their first ever ranking of the financial institutions that are working to meet the needs of customers during this unprecedented time.

The criteria for this award was extensive and focused on the 55 separate factors that would be most important to customers in choosing their bank. Factors that were assessed included current and historical interest rates, a wide array of fees, account terms, consumer service features, mobile app satisfaction and bank profile, among others.

“We are extremely proud to be named among the best banks in the country by Newsweek. 2020 has been a difficult year for everyone. At EBSB we focused on the safety of our employees as well as continue to provide our customers not only with great service but also provide them with resources to help them navigate through the crisis. Our directors, senior management and entire staff work hard as a team for our customers every day. This recognition is a great reflection on the entire EBSB team,” said Richard J. Gavegnano, Chairman, President and Chief Executive Officer.

Newsweek published its inaugural bank rankings in September in partnership with LendingTree, an online loan marketplace and comparison site for financial services. The rankings were based on a subjective assessment of checking and savings accounts as well as digital banking tools from more than 2,500 FDIC-insured institutions.

East Boston Savings Bank is a Massachusetts-chartered stock savings bank founded in 1848,

With over $6.5 billion in assets and 42 branch offices in 27 communities in the greater Boston metropolitan area, East Boston Savings Bank is a proven community bank that offers products and services that meet the deposit and financing needs of both consumers and businesses.

MVES Receives $10K Grant from The Eastern Bank Charitable Foundation  

Mystic Valley Elder Services (MVES) announced that it has received a $10,000 grant from Eastern Bank Charitable Foundation (EBCF). The grant is part of a commitment from the EBCF to provide financial support to local organizations focused on COVID-19 relief.

MVES is receiving this grant for its work in helping older adults in its communities of Chelsea, Everett, Malden, Medford, Melrose, North Reading, Reading, Revere, Stoneham, Wakefield and Winthrop, as they cope and adjust to new circumstances in food insecurity, financial challenges, and isolation brought on by the virus.

“We are so grateful for the support of the Eastern Bank Charitable Foundation,” said Daniel O’Leary, Chief Executive Officer of Mystic Valley Elder Services. “Our agency relies on the generosity of business partners like the Eastern Bank Charitable Foundation so we can continue to provide services and programs to older adults who have been affected by COVID-19.”

“Evidence of the impact of this virus outbreak on our neighbors, families, and small businesses is everywhere,” said Nancy Huntington Stager, President and CEO of Eastern Bank Charitable Foundation. “And, we also see the resiliency, sheer will, and hope of people across our region as they band together to help one another. The need for assistance continues to grow, and we will do what we can to give back and support the most vulnerable populations in our communities as well as encourage those who are able to do so to join us.” EBCF is providing a total of $8 million in COVID-19 philanthropic support in the communities it serves.