STT - Which Bank Will Eastern Bank Look to Buy After its IPO?
Eastern Bank, America's largest mutual savings bank, is going public in what could be a $2 billion IPO. The bank said in its prospectus that one of the reasons for the move is to be able to "pursue opportunistic acquisitions" in its current and bordering markets. Following the IPO announcement, Eastern Bank CEO Bob Rivers told The Boston Business Journal that he predicts the bank will grow to $40 billion in total assets over the next decade; it has about $11.6 billion now.
All of this suggests that Rivers is looking to make a big deal happen. Let's take a look at who Eastern might acquire or merge with.
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