Eastern Bank Named One of ” Top Banks for Businesses” in U.S.

 

Financial research firm Greenwich Associates recently named Eastern Bank as one of the top banks for businesses nationally with Greenwich Excellence Awards for both “Overall Customer Satisfaction” and “Customer Likelihood to Recommend” in the Northeast’s Middle Market segment.

Among the 600 banks evaluated nationally, Eastern was one of only 37 to earn recognition from Greenwich Associates, a leading global financial services research firm that interviewed over 28,000 business executives to determine its results.

“While community banks like Eastern are typically known for superior service to individuals and families, commercial lending is actually the largest part of our loan portfolio,” said Bob Rivers, Eastern Bank Chairman and CEO.  “We’re grateful to work with so many commercial clients and proud that our colleagues continue to provide financial solutions that help businesses of all sizes prosper.”

Over the past five years, Eastern’s Commercial Banking Group has seen double-digit loan growth in its loan portfolio, which now totals over $5 billion. Additionally, Eastern was named in 2016 the No. 1 SBA (Small Business Administration) Lender in New England for the seventh consecutive year, placing it among the Top 10 SBA lenders nationally.

 

Greenwich Excellence Awards Methodology

Greenwich Excellence Award winners were determined at a national level and in four geographic regions: Midwest, Northeast, South, and West. To qualify for consideration for the national awards, each winning bank had to have a minimum of 50 clients that responded to the study. To qualify for regional awards, each winning bank had to have a minimum of 30 clients responding in the region. To qualify for mid-corporate national awards, banks had to have a minimum of 30 clients responding to the study. Greenwich Excellence Award selection is based on top box ratings on Greenwich Associates’ five-point evaluation scale. The banks selected must receive a statistically significant proportion of “Excellent” ratings relative to the overall mean (at a 95 percent confidence level).