Eastern Bankshares, Inc. 8-K/A

What Happened
Eastern Bankshares, Inc. (EBC), the holding company for Eastern Bank, announced it completed its acquisition of HarborOne Bancorp, Inc. and its subsidiaries (including HarborOne Bank and HarborOne Mortgage, LLC) effective at 12:01 a.m. on November 1, 2025. The merger was completed under the Agreement and Plan of Merger dated April 24, 2025; each outstanding share of HarborOne common stock (other than treasury shares or any shares owned by Eastern) was converted into the right to receive, at the holder’s election, stock consideration, cash consideration, or a mix of both.

Key Details

• Exchange Ratio: 0.765 shares of Eastern common stock per share of HarborOne common stock.
• Cash Consideration: $12.00 per share of HarborOne common stock.
• Holders could elect stock, cash, or a mix; fractional eastern shares were paid in cash (cash in lieu) and elections were subject to allocation, proration and other procedures in the Merger Agreement.
• Merger Agreement date: April 24, 2025; Effective Time of merger: 12:01 a.m., November 1, 2025.

Why It Matters
The transaction folded HarborOne and its subsidiaries into Eastern Bank’s franchise and changed how former HarborOne shareholders were paid (stock, cash, or a combination). For investors, the exchange ratio and cash payout terms determine how many Eastern shares were issued and how much cash was paid as part of the deal, which can affect Eastern’s share count and cash obligations. Review Eastern’s subsequent filings and pro forma disclosures for details on the transaction’s impact on Eastern’s financials and capital structure.