Eastern Bankshares, Inc..
EBC.US | Other monetary intermediation
Eastern Bankshares, Inc. operates as the holding company for Eastern Bank that provides banking products and services to retail, commercial, and small business customers in the United States. It accepts various deposit products, including checking, savings, and money market accounts, as well as cert...Show More
Better Health for All
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The company's core business of banking, wealth management, and insurance services has no significant direct positive or negative health impact, nor does it generate revenue from products with negative health outcomes. Its products do not have direct safety implications, carry health risks requiring disclosure, or involve health-related R&D, data management, or clinical trials. The company does not offer health-related products requiring price accessibility, nor does it produce food or products with addiction potential. The company's operations do not intersect with pharmaceutical patents. While the Eastern Bank Charitable Foundation provides grants to organizations addressing housing, homelessness, food security, and essential services for vulnerable populations,
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and supports organizations addressing healthcare,
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the articles do not provide quantitative data on the percentage of vulnerable populations reached with health services or the impact on health disparities. Similarly, while the foundation made investments for mental and cognitive health challenges
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and COVID-19 relief,
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the evidence does not provide specific metrics to score the quality or scale of these initiatives against the rubric's quantitative thresholds for health equity, mental health, or crisis response. No evidence is provided for healthcare education.
Fair Money & Economic Opportunity
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Eastern Bank has committed to various community initiatives and financial education programs. The company has donated $240 million to charitable causes since 1994, which represents approximately 9% of its total assets of $23 billion as of December 31, 2022.
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It also supports community development corporations (CDCs) and the Foundation for Business Equity.
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For financial literacy, Eastern Bank partners with local nonprofits and high schools, is a member of the FDIC Money Smart Alliance, and offers the FDIC Money Smart program with over 50 certified employees.
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It also partners with EverFi for online courses, which have been used by over seven million learners.
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Geographically, the ONE+ program is available in 29 Massachusetts communities, including Gateway Cities, and the bank has over 120 locations, with a focus on communities in Massachusetts, New Hampshire, and Rhode Island, including opening branches in underserved neighborhoods like Roxbury.
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Fair Pay & Worker Respect
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For the 2024 fiscal year, the company's CEO to median employee pay ratio was 41:1.
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The company demonstrates a commitment to diversity, with 53% of Board and Senior Management being women and/or people of color, and 62% of the total workforce being women.
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In 2025, 42% of new hires were people of color.
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The company has earned a perfect score of 100% on the Human Rights Campaign’s Corporate Equality Index for LGBTQ+ workplace equality for 11 consecutive years.
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It maintains a Code of Conduct, an Ethics Hotline for anonymous reporting, and requires annual training for all employees.
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The company also offers an Employee Stock Ownership Plan (ESOP) with 100% vesting after three years of service.
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Fair Trade & Ethical Sourcing
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Eastern Bankshares, Inc. directed 10% of its purchasing expenditures to diverse suppliers in 2022.
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The company also reported a 40% increase in spend with diverse suppliers from 2017 to 2022.
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Honest & Fair Business
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Eastern Bankshares, Inc. has a whistleblower policy that prohibits retaliation against individuals making good faith reports.
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An Ethics Hotline, managed by an independent third party, is available for reporting concerns.
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All employees receive annual Code of Conduct training, and new employees are trained within 30 days of hire.
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The Audit Committee is responsible for establishing procedures for confidential and anonymous submissions.
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The company has undergone multiple securities restructurings, which were criticized by an investor.
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The Board of Directors and the Bank's Board each have a majority of independent directors, and the Audit, Compensation and Human Capital Management, and Nominating and Governance Committees are comprised entirely of independent directors.
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Directors are required to disclose personal interests and recuse themselves from discussions and votes where conflicts exist.
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The Code of Conduct prohibits improper payments, bribes, and kickbacks, and requires compliance with all applicable laws, including those related to money laundering and terrorist financing.
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The Ethics Hotline is managed by an independent third party, and the Internal Audit Department reviews ethical violations and investigates reports to the hotline.
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Kind to Animals
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No evidence available to assess Eastern Bankshares, Inc. on Kind to Animals.
No War, No Weapons
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No specific, concrete data points were found in the provided articles to assess Eastern Bankshares, Inc. against the 'No War, No Weapons' ethical value. The articles discuss general charitable giving
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and a Code of Conduct,
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but do not provide information on revenue from arms contracts, dual-use technology, sales to embargoed regimes, peacebuilding investments, divestment policies, board oversight of defense activities, export controls, lobbying on arms control, humanitarian procurement, human rights due diligence in conflict areas, Arms Trade Treaty compliance, AI military safeguards, UN Guiding Principles alignment, dual-use item screening, surveillance transparency, ethical red lines, exposure to controversial weapons, war-risk audits, conflict partner reviews, defense divestment, conflict minerals, peace tech investment, or procurement from conflict zones.
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Planet-Friendly Business
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The provided articles offer no specific quantitative data or concrete actions related to EBC.US's planet-friendly business practices. While one article mentions general "sustainability initiatives" such as energy conservation, waste reduction, and sustainable lending practices, these are broad statements without any measurable outcomes, targets, or percentages.
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Several articles explicitly state the absence of quantitative sustainability metrics, including emissions, renewable energy use, and water use.
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ESG risk scores are provided, but these are not direct measures for any of the specific KPIs in this rubric.
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Therefore, no KPIs under the 'Planet-Friendly Business' value can be scored based on the evidence provided.
Respect for Cultures & Communities
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The Eastern Bank Foundation provides over $5 million annually in grants to hundreds of nonprofits, focusing on Massachusetts, New Hampshire, and Rhode Island.
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The foundation emphasizes listening to community members and partnering with local organizations. No specific data points are provided regarding formal partnerships, percentage of revenue reinvested, cultural appropriation incidents, cultural impact protocols, local employment, grievance mechanisms, FPIC participation, community governance, cultural preservation investment, local procurement, indigenous suppliers, cultural site protection, social license, charitable giving to cultural organizations, community fund allocation, language inclusivity, cultural incident response, or cultural training completion.
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Safe & Smart Tech
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A security breach occurred on March 13, 2024, affecting Eastern Bank Debit MasterCard BusinessCard® customers.
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Potentially exposed information included cardholder names, card numbers, addresses, phone numbers, Social Security numbers, dates of birth, government IDs, medical information, and financial information.
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Eastern Bank responded by lowering transaction limits on affected cards to $500 and mailing new cards.
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The article did not provide the number of affected customers, which is required to score the data_breach_severity KPI.
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No other specific, concrete data points were found for the remaining KPIs related to Safe & Smart Tech.
Zero Waste & Sustainable Products
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The provided articles do not contain any specific, quantitative data for Eastern Bankshares, Inc. (EBC.US) related to waste management, product sustainability, or circular economy practices.
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While some articles discuss general ESG trends or the company's overall ESG risk rating,
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they explicitly state the absence of concrete metrics such as waste diversion rates, product recyclability, packaging sustainability, or waste reduction initiatives for EBC.US.
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Therefore, no KPIs under the 'Zero Waste & Sustainable Products' value can be scored based on the evidence provided.