Eastern Bankshares, Inc. - Common Stock (EBC)

Competitors to Eastern Bankshares, Inc. - Common Stock (EBC)

Citizens Financial Group 

Citizens Financial Group, operating as a larger regional bank, competes aggressively with Eastern Bankshares by offering a vast range of financial services, including advanced digital banking solutions. Citizens has economies of scale that enable them to provide lower fees and better interest rates on loans and deposits. Their well-established presence across multiple states gives them an advantage in marketing and brand recognition over Eastern Bankshares.

Greenwood Bank

Greenwood Bank is notable for serving the underrepresented communities and focuses on providing accessible banking services to these populations. They compete with Eastern Bankshares by fostering strong community ties and innovative financing solutions tailored to specific needs. Although Eastern Bankshares has a broader range of services, Greenwood's niche market strategy gives it a competitive edge in social impact banking.

HarborOne Bancorp, Inc. 

HarborOne Bancorp primarily serves New England, making it a direct competitor to Eastern Bankshares. They emphasize low-cost lending products and a strong digital banking platform. While they excel in customer engagement, Eastern Bankshares holds an advantage in product diversity, including investment and insurance services, which allows them to cater to a more extensive customer base.

Notice Bank

Notice Bank focuses on community-centered banking with a robust array of personal and small business products designed to attract local customers. Their strong emphasis on customer service and community engagement creates a loyal customer base, positioning them well against Eastern Bankshares, which operates similarly in local markets. Notice Bank has an edge in digital banking capabilities, making it attractive to younger customers.

Shawmut Bank 

Shawmut Bank is known for its personalized services and financial advisory for affluent clients, which contrasts with Eastern Bankshares' broader market focus. Shawmut's strength lies in custom banking solutions and wealth management, allowing it to target high net-worth individuals effectively. This specialization grants Shawmut a competitive advantage in the premium banking segment.