Original Content
Activist investor HoldCo Asset Management urged the bank to sell to a larger regional, such as M&T. Executives Friday said Eastern, after completing a deal last October, had attained “the size and scale to compete effectively.”
Eastern Bank eschews M&A in face of investor complaint
AI Summary
Eastern Bank decided against pursuing mergers and acquisitions after receiving an investor complaint. The bank stated it had reached the appropriate size to compete effectively without needing a larger regional partner.
Texas Relevance
The article does not mention Texas, TCUD, or any Texas-specific entities and focuses on Eastern Bank's decision regarding M&A activities.