East Boston Savings Bank Announces New Strategic Alliance with Starkweather & Shepley Insurance

East Boston Savings Bank Announces New Strategic Alliance with Starkweather & Shepley Insurance

East Boston Savings Bank (EBSB), and Starkweather & Shepley Insurance Brokerage Inc. (S&S) are pleased to announce a strategic alliance that will allow both financial service institutions the ability to offer a full line of commercial, personal and life insurance products.

The formation of this alliance will enable both organizations to expand the services offered to their respective clienteles throughout New England. This relationship will enhance the strategic goals of both organizations given the synergies of their client base, geographical footprint, product offerings, industries served as well as the shared value of a strong commitment to the communities served by both organizations.

Richard J. Gavegnano, President, CEO and Chairman of East Boston Savings Bank stated “Every person we are connected with; both employees and customers alike, need insurance protection and we often get requests to assist people with their insurance needs.  We found that S&S can consistently provide insurance solutions that are a perfect fit for our customers in addition to fitting seamlessly into our geographic footprint.  We are thrilled to have found S&S and look forward to referring their services as an option to our employees and customers”.

According to Andrew Fotopulos, President, Starkweather & Shepley Insurance Corp. of Massachusetts.  “We are very proud to be working with a distinguished financial institution such as East Boston Savings Bank that shares many of our core values and history. There is a reason why our two institutions have been in business for approximately 310 years. It’s our continued commitment to customers, community and employees that inspires us to evolve and improve the client experience every day.  The mantra “hard work” is emphasized by EBSB in their marketing campaigns and that’s what we both will do in order to be the best provider of banking and insurance services.”

Established in 1879, Starkweather & Shepley is the 68th largest Insurance brokerage firm in the U.S. Held in trust since 1935, ensures that the firm will remain privately held in perpetuity, providing certainty to clients and associates alike. The firm provides commercial and personal insurance, health and employee benefits, surety bonding and risk management services.

East Boston Savings Bank is a Massachusetts chartered stock savings bank originally founded in 1848. Offering a variety of deposit and loan products to individuals and businesses located Essex, Middlesex, Norfolk and Suffolk Counties, Massachusetts, EBSB is known for exceptional customer experiences, solid financial performance, workforce development and community leadership. The bank operates thirty five full-service branch locations and three loan centers in the Greater Boston metropolitan area.

East Boston Savings Bank is a wholly owned subsidiary of Meridian Bancorp, Inc. The common stock of Meridian Bancorp, Inc. is listed on the Nasdaq Global Select Market and trades under the ticker symbol “EBSB.”

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