Eastern Bankshares and HarborOne set merger deadline and closing date

Eastern Bankshares Inc. (NASDAQ: EBC) and HarborOne Bancorp Inc. (NASDAQ: HONE) announced key dates for their merger, including an election deadline for HarborOne shareholders and the expected closing date.

HarborOne shareholders have until 5:00 p.m. Eastern Time on October 28, 2025, to elect their preferred form of merger consideration. The companies expect the merger to become effective shortly after midnight Eastern Time on November 1, 2025.

HarborOne will delist its common stock from the NASDAQ Global Select Market following the close of trading on October 31, 2025, which will be the last trading day for HarborOne shares.

Under the merger terms, HarborOne shareholders can elect to receive either 0.765 shares of Eastern common stock per HarborOne share, $12.00 in cash per share, or a combination of both. The allocation ensures that 75% to 85% of HarborOne shares will receive stock consideration, with the remainder receiving cash consideration.

Shareholders who do not make a proper election by the deadline will have their shares exchanged according to the elections of other shareholders and the allocation procedures specified in the merger agreement.

The merger was initially announced on April 24, 2025. Eastern, the holding company for Eastern Bank, operates 109 branch locations in eastern Massachusetts, southern and coastal New Hampshire, Rhode Island and Connecticut. HarborOne Bank operates through 30 full-service banking centers in Massachusetts and Rhode Island.

Election materials were distributed to HarborOne shareholders on September 24, 2025. Shareholders with questions about the election process can contact Innisfree M&A Incorporated at (877) 800-5182.

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