East Boston Financial savings Bank (EBSB) has opened new branches in Salem and Woburn and is focusing on a late summer season opening of EBSB’s third department in Brookline.
“We are very excited to be expanding our footprint within these communities. All these locations coincide with our strategy to penetrate lucrative high-density markets and expand the EBSB franchise that has a strong community banking history” stated Richard Gavegnano, Chairman, President and CEO of East Boston Financial savings Bank. “We are proud to be part of these great communities and look forward to establishing new relationships and enhancing existing ones.”
The opening of the Salem department, positioned on the nook of New Derby and Washington Streets, marks a continuation of EBSB’s growth to the North Shore. Situated on Route 114, the placement is good because it offers nice visibility and is accessible to public transportation (busses and commuter rail.) With $32 million in deposits and greater than $76 million in loans, the bank already conducts a considerable quantity of enterprise in Salem and see’s nice potential to increase its buyer base because of the many close by small companies.
The Woburn location at 331 Montvale Avenue is good because it offers nice visibility and is accessible to the closely traveled commuter Route 93. Situated simply off exit three south, the department is provided with a drive-up window and drive-up ATM. “In Woburn and we see great potential to expand our customer base due to the many residential neighborhoods and businesses in the area.” says Gavegnano.
The Bank’s third Brookline department is positioned at 473 Harvard Street. The positioning of a former Starbucks, it’s solely a 6-minute stroll from the MBTA’s Inexperienced Line “B-branch” Harvard Avenue cease. “With a significant deposit base from our two other Brookline branches at 1050 and 1441 Beacon Street, the Harvard Street location allows us to service a more densely populated area of the community.” says Gavegnano. This department is focused to open in mid-September.
Based in 1848, East Boston Financial savings Bank operates 40 full-service branches together with a Cellular Banking Unit in the better Boston metropolitan space. EBSB presents quite a lot of deposit and loan merchandise to people and companies positioned in its major market, which consists of Essex, Middlesex, Norfolk and Suffolk counties. As a member of each the FDIC and Depositors Insurance coverage Fund (DIF) all deposits are insured in full.