HarborOne and Eastern Bank

Last Updated August 14, 2025

CEO Letter (from customer communication email)

Merger FAQs (from FAQs)

What are the terms of the merger? Eastern Bankshares, Inc., the parent company of Eastern Bank, will merge with HarborOne Bancorp, Inc., the parent company of HarborOne Bank and HarborOne Bank Mortgage. The combined franchise will have $31 billion in assets and be the largest Massachusetts-based bank.

What is the expected timing of the merger? The merger needs to be approved by State and Federal Regulators, and HarborOne shareholders. We expect the merger will close in the fourth quarter of 2025, subject to required regulatory approvals and other conditions.

Until the deal is approved, HarborOne and Eastern Bank will continue to operate independently. For now, there are no changes in how you bank with us and there is no need to take any action. Your relationship management and/or banking center team remain the same. We anticipate communicating proactively with you on how to prepare for any transition, as needed.

How are customers impacted? For now, there is no customer impact. Ultimately, the benefits for HarborOne customers are significant, including expanded convenience with over 100 branch locations, expanded access to a broader range of products and services, and a more robust wealth management capability. Over the coming months, we will provide additional details to our customers.

What are the plans for the branches? We expect most of HarborOne's 30 locations will be retained, including all 3 of the branches in Brockton. Additionally, all HarborOne and Eastern branch employees will be retained. We do not anticipate exiting any city or town where our combined network currently operates.

Will HarborOne's community support and involvement continue? Our commitment to our communities will deepen with this merger. Our shared values, including a commitment to the communities we serve, make this partnership a natural fit. The Eastern Bank Foundation is one of the largest corporate foundations in our region and in combination with the HarborOne Foundation will dedicate $20 million in programming, including financial literacy and business resources currently offered through HarborOne U, to support the communities served by both banks, including in Brockton, Southeastern Massachusetts, and Rhode Island.

Shareholder FAQs (regarding HarborOne shares)

FAQs Regarding HarborOne Shares

Is the merger with Eastern Bank subject to shareholder approval? Yes, all HarborOne shareholders as of a certain date will have the opportunity to vote their shares. That date has not been determined yet.

How do I vote for my shares? You will receive a letter in the mail later this year (timing is still to be determined) with instructions on how to vote your shares.

If I have questions about the best option for converting my shares, who should I speak with? We recommend that you consult your financial advisor. HarborOne Bank is not allowed to provide any advice or recommendations for your personal share conversion elections.

I received my HarborOne dividend checks from Continental. Will they have information about how I convert my shares? Continental has a Shareholder FAQ section on their website (continentalstock.com) for their customers. This has general information that customers may find helpful, but not specific to the HarborOne / Eastern merger.

When should I expect to receive the information about my share conversion? We expect you will receive this information later this year. The exact date has not been determined.

Where can I get the most up-to-date information about the merger? Please visit harborone.com/eastern-bank-merger, and there is also a link at the top of the harborone.com homepage. This page will be updated whenever new information is available.

Read the press release

THE COMMONWEALTH OF MASSACHUSETTS

Division of Banks

HARBORONE BANK, Brockton, Massachusetts and EASTERN BANK, Boston, Massachusetts have petitioned the Division of Banks for various approvals in connection with a multi-step corporate transaction. EASTERN BANK is seeking approval for HARBORONE BANK to merge with and into EASTERN BANK under the charter, bylaws, and name of EASTERN BANK. The main office of EASTERN BANK would remain the main office of the continuing institution. As part of this merger transaction, HARBORONE BANK has petitioned to close its branch offices located at: (1) 64 Broad Street, Boston; (2) 14 West Broadway, Boston; (3) 1608 Commonwealth Avenue, Brighton; (4) 473 Harvard Street, Brookline; (5) 1739 Massachusetts Avenue, Cambridge; (6) One Chestnut Place, Quincy; and (7) 101 Dudley Street, Providence, Rhode Island. In connection with this merger transaction, EASTERN BANK has petitioned to close its branch offices located at: (1) 110 Main Street, Bridgewater; (2) 276 Quincy Street, Brockton; (3) 45 Main Street, Lakeville; (4) 71 Carver Road, West Plymouth; (5) 35 Memorial Parkway, Randolph; and (6) 397 Washington Street, Stoughton. This multi-step transaction includes the acquisition of HARBORONE BANCORP, INC., the holding company for HARBORONE BANK, by EASTERN BANKSHARES, INC., the holding company for EASTERN BANK. Any objections or comments relative to this proposal must be communicated in writing to the Commissioner of Banks, One Federal Street, Suite 710, Boston, Massachusetts 02110-2012 or via electronic mail to dob.comments@mass.gov no later than September 16, 2025. A public hearing may be held if the response is considered significant or circumstances warrant such a hearing, as determined by the Commissioner. The application and all communications relative to this application are available from the Division by request at dob.rao@mass.gov.

MARY L. GALLAGHER

Commissioner of Banks

Branch Closure Notice

HarborOne Bank, Brockton, Massachusetts has petitioned the Massachusetts Division of Banks for permission to close a branch office located at the addresses listed below (the “Branches”) which would be acquired by Eastern Bank in connection with the proposed merger of HarborOne Bank with and into Eastern Bank. Eastern Bank intends to close the Branches on February 20, 2026, if Eastern Bank receives approval by the appropriate federal and state banking agencies of the proposed merger. Any objections or comments relative to this proposal must be communicated in writing to the Commissioner of Banks, Mary Gallagher, One Federal Street, Suite 710, Boston, MA 02110-2012 or dob.comments@mass.gov no later than June 27, 2025.

Customers of the Branch do not have to take any action relating to deposit or loan accounts. All services offered at the Branch will be available at the branch office located at the nearest alternate branch listed below. If you have any additional questions or concerns or need help finding our nearest banking center to you, please call us at (844) 251-0099.

In addition, any person wishing to comment on this proposed closing may file comments with the FDIC regional director at the address below. Comments should be received by June 27, 2025.

Federal Deposit Insurance Corporation – Boston Area Office
15 Braintree Hill Office Park
Braintree, MA 02184-8701

HarborOne Bank Branch Address to Close: 64 Broad Street, Boston, MA

Branch Closure Date: February 20, 2026

Nearest Alternate Branch Address: 1 Federal Street, Boston, MA

HarborOne Bank Branch Address to Close: 14 West Broadway, South Boston, MA

Branch Closure Date: February 20, 2026

Nearest Alternate Branch Address: 470 West Broadway, South Boston, MA

HarborOne Bank Branch Address to Close: 1608 Commonwealth Avenue, Brighton, MA

Branch Closure Date: February 20, 2026

Nearest Alternate Branch Address: 1952 Beacon Street, Brighton, MA

HarborOne Bank Branch Address to Close: 473 Harvard Street, Brookline, MA

Branch Closure Date: February 20, 2026