As previously disclosed, on September 19, 2023, Eastern Bankshares, Inc. (“Eastern”), Eastern Bank, Citadel MS 2023, Inc., Cambridge Bancorp (“Cambridge”), and Cambridge Trust Company entered into an Agreement and Plan of Merger (“Merger Agreement”) pursuant to which Cambridge is expected to merge with and into Eastern, subject to applicable closing conditions set forth in the Merger Agreement, including the receipt of required regulatory approvals.
On May 28, 2024, Eastern and Cambridge jointly issued a press release announcing that they had received all required regulatory approvals for the merger and expect to consummate the merger on or about July 12, 2024. A copy of the press release is provided herewith as Exhibit 99.1 and incorporated herein by reference.
Caution Regarding Forward-Looking Statements
This Current Report on Form 8-K contains “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. You can identify these statements from the use of the words “may,” “will,” “expect,” and similar expressions. Forward-looking statements, by their nature, are subject to risks and uncertainties. There are many factors that could cause actual results to differ materially from expected results described in the forward-looking statements. These include risks associated with the consummation and/or implementation of the merger between Eastern and Cambridge, including risks that the closing conditions are not satisfied in a timely manner or at all and that the timing of completion of the proposed merger is dependent on various factors that cannot be predicted with precision at this point.
These forward-looking statements are also subject to the risks and uncertainties applicable to Eastern’s and Cambridge’s respective businesses generally that are disclosed in Eastern’s and Cambridge’s 2023 Annual Reports on Form 10-K. Eastern’s and Cambridge’s SEC filings are accessible on the SEC’s website at www.sec.gov and on their respective corporate websites at ir.cambridgetrust.com and investor.easternbank.com. These web addresses are included as inactive textual references only. Information on these websites is not part of this document. For any forward-looking statements made in this Current Report on Form 8-K, Cambridge claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Except as required by law, Cambridge specifically disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this Form 8-K. You should not place undue reliance on forward-looking statements, which reflect Cambridge’s expectations only as of the date of this Current Report on Form 8-K. Cambridge does not undertake any obligation to update forward-looking statements.
| Item 9.01 | Financial Statements and Exhibits. |
