East Boston Savings Bank
East Boston Savings Bank reported total assets of $6.1 bn at Q3 2021, its last Call Report before it merged into Rockland Trust Company. It uses the community bank leverage ratio framework, with a tier 1 leverage ratio of 11.90%, and an estimated 23.13% of domestic deposits were uninsured. Source: FDIC Call Report data, cross-checked against FFIEC filings.
- Total deposits: down 3.6% on Q2 2021, to $4.7 bn
- Tier 1 leverage ratio: up 0.64 pp on Q2 2021, to 11.90%
- Bank equity capital: up 2.6% on Q2 2021, to $762.8 mn
Ranks compare banks in our US coverage that report each metric. Sparklines: the last ten years. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Overview
What stands out about East Boston Savings Bank?
Against its six size peers, its loan-to-deposit ratio stands out most: 102.59% at Q3 2021, above the peer median of 71.10%.
How large is East Boston Savings Bank?
At Q3 2021 the bank held $6.1 bn of assets. Deposits were $4.7 bn and net loans and leases $4.9 bn, a loan-to-deposit ratio of 102.59%. Securities of $9.2 mn made up 0.1% of assets.
Total assets rose 70.0% between Q1 2016 and Q3 2021, from $3.6 bn.
How much of its funding is uninsured?
An estimated 23.13% of domestic deposits were above the FDIC insurance limit at Q3 2021, -0.15 pp from the previous quarter and +0.12 pp from a year earlier.
Key facts, Q3 2021
| Metric | Value | Change from a year earlier | US rank |
|---|---|---|---|
| Total assets | $6.1 bn | -6.7% | |
| Total deposits | $4.7 bn | -4.8% | |
| Net loans and leases | $4.9 bn | -13.3% | |
| Bank equity capital | $762.8 mn | +6.4% | |
| Tier 1 leverage ratio | 11.90% | +0.92 pp | |
| Return on equity (ROE) | 10.69% | +1.69 pp | |
| Net interest margin | 3.13% | +0.02 pp | |
| Uninsured share of domestic deposits | 23.13% | +0.12 pp | |
| Noncurrent loans to total loans | 0.14% | +0.08 pp | |
| Net charge-offs to average loans | 0.10% | +0.09 pp |
US rank: rank among the banks in our coverage reporting each metric, 1 = highest unless marked 1 = lowest.
Balance sheet
Total assets, deposits and net loans, quarterly, Q1 2016 to Q3 2021. Dashed amber lines mark the merger or acquisition listed under Mergers and acquisitions.
- Total assets $6.1bn
- Deposits $4.7bn
- Net loans $4.9bn
Capital and securities
The bank uses the community bank leverage ratio framework, so it does not report risk-based capital ratios. Its tier 1 leverage ratio was 11.90% at Q3 2021, +0.92 pp from a year earlier. The median tier 1 leverage ratio of the size peers listed below was 8.86% at Q3 2021.
Available-for-sale securities showed an unrealized gain of $454,000 at Q3 2021; the gain fell by $196,000 from a year earlier.
Capital ratios
- Total capital 12%
- CET1 11%
- Tier 1 leverage 12%
Unrealized gains and losses on securities
- Available for sale $454,000
- Held to maturity $0
Profitability and loan quality
Return on equity was 10.69% for the year to Q3 2021, annualized, with a return on assets of 1.26% and a net interest margin of 3.13%. The margin was +0.02 pp from a year earlier. The efficiency ratio, noninterest expense as a share of revenue as the FDIC defines it, was 50.93%. Net income for the year to Q3 2021 was $60.4 mn, up 28.0% on the same period a year earlier. The median return on equity of its size peers was 13.45% for the same period.
Noncurrent loans, those 90 days or more past due or no longer accruing interest, were 0.14% of total loans at Q3 2021. Net charge-offs for the year to date were 0.10% of average loans, annualized.
Profitability
- Return on equity 11%
- Net interest margin 3.1%
- Return on assets 1.3%
Compared with banks of similar size
The six banks ranked closest to East Boston Savings Bank by total assets at Q3 2021, three above and three below where possible.
Among the seven banks in the table at Q3 2021, East Boston Savings Bank is 4th by total assets. Its tier 1 leverage ratio of 11.90% compares with a peer median of 8.86%, its return on equity of 10.69% compares with a peer median of 13.45%, and its uninsured share of deposits of 23.13% compares with a peer median of 36.56%.
| Bank | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|
| Stock Yards Bank & Trust Company | $6.2 bn | 11.34% | 11.84% | 45.98% | |
| Metropolitan Commercial Bank | $6.1 bn | 14.61% | 13.30% | 42.07% | |
| TrustCo Bank | $6.1 bn | 18.90% | 11.34% | 13.32% | |
| East Boston Savings Bank | $6.1 bn | not reported | 10.69% | 23.13% | |
| Union Bank and Trust Company | $6.1 bn | 11.99% | 13.86% | 16.70% | |
| Alpine Bank | $6.1 bn | 13.09% | 13.60% | 47.51% | |
| Principal Bank | $6.1 bn | 14.42% | 16.10% | 31.05% | |
Q3 2021. Peer median (the six banks, excluding this one): CET1 13.75%, return on equity 13.45%. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Last eight quarters
East Boston Savings Bank, as reported in its Call Reports.
From Q4 2019 to Q3 2021, total assets fell 3.2% to $6.1 bn, deposits fell 4.2% to $4.7 bn and bank equity capital rose 11.6% to $762.8 mn. Over the same period its full-time equivalent staff went from 514 to 427 and its offices went from 40 to 43.
| Metric | Q4 2019 | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | Q1 2021 | Q2 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $6.3 bn | $6.3 bn | $6.4 bn | $6.6 bn | $6.6 bn | $6.5 bn | $6.3 bn | $6.1 bn |
| Total deposits | $4.9 bn | $4.8 bn | $4.8 bn | $5.0 bn | $5.1 bn | $5.1 bn | $4.9 bn | $4.7 bn |
| Bank equity capital | $683.4 mn | $698.1 mn | $698.8 mn | $716.7 mn | $741.3 mn | $766.5 mn | $743.8 mn | $762.8 mn |
| Common equity tier 1 (CET1) ratio | 11.06% | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Return on equity (ROE) | 10.45% | 7.56% | 8.78% | 9.00% | 9.24% | 12.93% | 11.14% | 10.69% |
| Uninsured share of domestic deposits | 20.16% | 20.92% | 23.25% | 23.00% | 24.50% | 22.00% | 23.28% | 23.13% |
| Full-time equivalent employees | 514 | 514 | 481 | 472 | 478 | 470 | 438 | 427 |
| Number of offices | 40 | 40 | 40 | 43 | 43 | 43 | 43 | 43 |
Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Mergers and acquisitions
Figures before and after each event are not like for like.
- . Absorbed Meetinghouse Bank (FDIC certificate 26715).
- . Merged into Rockland Trust Company (FDIC certificate 9712).
Source: FDIC BankFind API, institution history. Moves of more than 25% in one quarter are checked against that history in our review.
Identifiers and sources
- FDIC certificate
- 33510
- Federal Reserve RSSD ID
- 1000100
- Head office
- Boston, Massachusetts
- Holding company
- MERIDIAN BCORP INC (as reported to the FDIC)
- Holding company RSSD ID
- 1902651
- EconoMonitor ID
- EMB-US-000281
Frequently asked questions
What were East Boston Savings Bank's total assets?
$6.1 bn at Q3 2021, according to its Call Report as published by the FDIC.
Is East Boston Savings Bank the same as its holding company?
No. This page covers the FDIC-insured bank (certificate 33510). Its holding company, MERIDIAN BCORP INC (as reported to the FDIC), reports separately to the Federal Reserve and, if its shares are listed, to the SEC.
How often is this page updated?
Every quarter, after East Boston Savings Bank files its Call Report and the FDIC publishes it. This page shows Q3 2021, loaded on 19 October 2026; any sentence that uses an earlier quarter names it.
Where can I check these numbers?
In the FDIC BankFind Suite record for certificate 33510, and in the Call Reports filed under RSSD ID 1000100 at the FFIEC Central Data Repository.
Sources and definitions
Definitions, Call Report fields and formulas for each metric: Bank equity capital, Uses community bank leverage ratio framework, Common equity tier 1 (CET1) ratio, Deposits in domestic offices, Efficiency ratio, Full-time equivalent employees, Loan-to-deposit ratio, Total loans and leases (gross), Net loans and leases, Net charge-offs to average loans, Net income (year to date), Net interest margin, Noncurrent loans to total loans, Number of offices, Return on assets (ROA), Return on equity (ROE), Available-for-sale securities (amortized cost), Available-for-sale securities (fair value), Held-to-maturity securities (amortized cost), Held-to-maturity securities (fair value), Total securities, Tier 1 leverage ratio, Total assets, Total deposits, Total equity capital, Total risk-based capital ratio, Uninsured share of domestic deposits, Estimated uninsured deposits, Unrealized gain/loss on available-for-sale securities, Unrealized gain/loss on held-to-maturity securities.
Checks for this release: Check A (database against the FDIC download) passed, Check B (FDIC against FFIEC Call Report filings) passed.
Source: FDIC BankFind Suite (Call Report data). EconoMonitor is not affiliated with or endorsed by the FDIC. FDIC BankFind Suite API.
Source: FFIEC Central Data Repository (Call Reports). EconoMonitor is not affiliated with or endorsed by the FFIEC. FFIEC Central Data Repository, Public Data Distribution.
Data and analysis only, not financial advice. The FDIC and the FFIEC do not endorse EconoMonitor. See the disclaimer and methodology.