Eastern Bank Provides Financing for Capstan Atlantic's Conversion to an Employee-Owned Company [Yahoo! Finance]
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Eastern Bankshares, Inc. (EBC)
Company Research
Source: Yahoo! Finance
Founded in 1956 and located in Wrentham, MA, Capstan Atlantic is an industry leading powder metal manufacturer producing complex gears, sprockets and structural components for the automotive industry and a wide array of other applications, including lawn mowers, snowblowers and all-terrain vehicles. Eastern Bank is providing a term loan to support Capstan Atlantic's conversion to employee ownership through the implementation of an Employee Stock Ownership Plan (ESOP), making it a fully employee-owned company. Eastern Bank is also providing a revolving line of credit to support the company's ongoing financial needs. "Capstan Atlantic, which will be rebranded to Atlantic Sintered, is pleased to begin a new banking relationship with Eastern Bank," said Ben Hall, President and CEO. "The creation of an employee stock ownership plan is an exciting way to help ensure the long-term success and growth of our company and reward our loyal 260 employees. Eastern Bank's financing and ESOP expert
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EBC
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- Eastern Bankshares: All Eyes On Merger With Cambridge Bancorp [Seeking Alpha]Seeking Alpha
- Eastern Bankshares (NASDAQ:EBC) Could Be A Buy For Its Upcoming Dividend [Yahoo! Finance]Yahoo! Finance
- Eastern Bankshares, Inc. And Cambridge Bancorp Announce Regulatory Approvals Received To MergeBusiness Wire
- Eastern Bank Provides Financing for Capstan Atlantic’s Conversion to an Employee-Owned CompanyBusiness Wire
- Eastern Bankshares, Inc. (NASDAQ:EBC) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
EBC
Earnings
- 4/25/24 - Beat
EBC
Sec Filings
- 6/24/24 - Form 11-K
- 5/28/24 - Form 8-K
- 5/17/24 - Form 4
- EBC's page on the SEC website