Meridian Bancorp, Inc.


Meridian Bancorp, Inc., incorporated on March 6, 2014, is a bank holding company for East Boston Savings Bank (the Bank). The Bank is a stock savings bank. The Bank conducted its business from 31 locations, one mobile branch and three loan centers in the greater Boston metropolitan area, as of December 31, 2016. The Bank offers a range of deposit and loan products to individuals and businesses located in its market, which consists of Suffolk, Middlesex and Essex Counties, Massachusetts. The Bank attracts deposits from the public and uses those funds to originate loans, which it holds for investment. The Bank’s lending business also involves the purchase and sale of loan participation interests. The Bank also offers non-deposit financial products through a third-party network arrangement. It offers customers a range of non-deposit financial products, including mutual funds, annuities, stocks and bonds, which are offered and cleared by a third-party broker-dealer. It also offers customers long-term care insurance through a third-party insurance company. Lending Activities The Bank’s loan portfolio includes commercial real estate loans, one- to four-family residential real estate loans, multi-family real estate loans, construction loans, commercial and industrial loans, home equity lines of credit and consumer loans. Its commercial real estate loans are secured by properties used for business purposes, such as office buildings, industrial facilities and retail facilities. It originates a range of fixed- and adjustable-rate commercial real estate loans for terms and amortization periods up to 30 years. Its one- to four-family residential loan portfolio consists of mortgage loans that enable borrowers to purchase or refinance existing home. It originates a range of adjustable-rate multi-family real estate loans for terms approximately 30 years. It makes construction loans for commercial development projects, including apartment buildings, small industrial buildings, and retail and office buildings. It also originates adjustable loans to individuals and to builders to finance the construction of residential dwellings. It also originates construction and site development loans to contractors and builders to finance the construction of single-family homes and subdivisions. It offers home equity lines of credit, which are secured by one- to four-family residences. It offers automobile loans, loans secured by passbook or certificate accounts and overdraft loans. As of December 31, 2016, the Bank’s total net loans amounted to $3898.66 million.
Bank NameMeridian Bancorp, Inc.
Stock ExchangeLSE
SymbolEBSB
SectorFinancials
IndustryMajor Banks
CountryUnited States
World Region"North America "
Chairman
CEOMr. Richard J. Gavegnano
Employees447
Websiteebsb.com
Registered Year1848

2017 2016 2015
  € m € m € m
Revenue
Total interest income 184 148 122
Total Interest Expenses 39 20 27
Net Interest income 145 145 101
Total Net Revenue 24 16 15
Earnings per share
Basic 0.84 0.67 0.47
Diluted 0.82 0.65 0.46
Assets
Total current assets
Other assets 45,567 43,850 42,841
Total assets 15,244 21,461 21,246
Total current liabilities
Total liabilities 4,653,056 3,828,705 2,936,383
Total Equity 646,399 607,297 588,126
Net income
Net cash provided by operating activities 50 44 28
Net cash used for investment activities 598 768 361
Net cash provided by financing activities 714 864 224
Source:http://www.ebsb.com
Currency in EUR, All numbers in million.

 

United States

 

East Boston