Bank Merger Leads to Branch Closures
Eastern Bank and Harbaugh Lawn Bank, which originated in Brockton, are planning to close 13 branches as they merge. The merged entity will operate 126 branches across Massachusetts and Rhode Island.
According to Quincy Miller, the president and COO for the East Coast, the expected regulatory approval could result in these closures happening by February 2026. He mentioned that the banks are strategically consolidating locations that are in close proximity to one another.
“We believe this approach best serves our customers, and it’s different from what some other banks might do,” Miller noted in a July 11 discussion.
Closed Branch in Brockton
The East Coast branch and drive-thru at 276 Quincy St. in Brockton have officially closed.
Remaining Brockton Branches
All HarborOne locations in the city will continue to operate. Following the merger, Brockton will have four full-service branches: located at 1265 Belmont St., 443 Belmont St., 68 Legion Parkway, and 1601 Main St. Additionally, a new branch will open at 472 Foundry St. in North Easton.
Rebranding as “East Bank”
Post-merger, the bank will be known as East Bank. Miller anticipates that the sign for the Herboron branch will be updated to reflect this new branding by the end of March 2026.
Harbaugh Locations Closing
Several Harbaugh branches will be closing, including: 64 Broad St. and 14 West Broadway in Boston, 1608 Commonwealth Ave. in Brighton, 473 Harvard St. in Brookline, 1739 Massachusetts Ave. in Cambridge, one at Chestnut Place in Quincy, and 101 Dudley St. in Providence, RI.
East Coast Branch Closures
The following East Coast branches will shut down: 110 Main St. in Bridgewater, 276 Quincy St. in Brockton, 45 Main St. in Lakeville, 71 Carver Road in West Plymouth, 35 Memorial Parkway in Randolph, and 397 Washington St. in Stoughton.
The merger is anticipated to finalize on October 31, pending regulatory approval and a positive vote from Harbaugh shareholders.
Public Comments Deadline Approaches
If you’re reading this on the morning of July 14, be aware that comments regarding the merger must be submitted to financial regulators by the end of the day. Written comments can be sent to the Regional Director of the Federal Insurance Deposits Corporation at their Boston office.
Layoffs and Employee Transfers
When the merger was announced in April, bank leaders indicated that jobs would be offered to employees at the branches that would close. Miller has confirmed that this plan remains in place, but some employees may need to transfer to different branches, potentially affecting their commutes.
