ESOP · DOL Form 5500 · 2023
Eastern Bank ESOP
Data updated 2026-08-11
- $213M
- Total assets
- 1,778
- Participants
- 95th
- Percentile by assets
- $119,992
- Avg per participant
Official DOL plan name: Eastern Bank Employee Stock Ownership Plan · Sponsored by Eastern Bank · Massachusetts · Finance & Insurance
$213M in assets, 1,778 participants
Eastern Bank's Eastern Bank Employee Stock Ownership Plan reported $213M in total assets and 1,778 participants in its 2023 DOL Form 5500 filing, ranking in the 95th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.
- 95th percentile by assets (of 127,072 plans)
- #8,157 in Finance & Insurance (8,869 peers)
Coverage in Massachusetts
Eastern Bank Employee Stock Ownership Plan covers 1,778 participants in Massachusetts, 2.7x the typical Massachusetts plan (state average ~659 per filing). Assets: $213M.
- $213M
- total plan assets (2023 EOY)
- 1,778
- covered participants
- 95th
- percentile by assets (of 127,072 plans)
- $119,992
- avg assets per participant
The plan reported a net loss of $44M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
What changed between DOL Form 5500 filings
plan year 2022 → plan year 2023
- Eastern Bank Employee Stock Ownership Plan end-of-year assets fell from $259M in the plan year 2022 filing to $213M in the plan year 2023 filing.
- Eastern Bank Employee Stock Ownership Plan reported net income fell from -$40M in the plan year 2022 filing to -$44M in the plan year 2023 filing.
- Eastern Bank Employee Stock Ownership Plan reported participants rose from 1,646 in the plan year 2022 filing to 1,778 in the plan year 2023 filing.
Participants vs Massachusetts filers
In Massachusetts, the average filing covers about 659 participants across 4,265 plans. Eastern Bank Employee Stock Ownership Plan reports 1,778 participants - 2.7x that state average ($213M EOY assets).
Massachusetts filing particulars
| Total Assets (Beginning of Year) | $259M |
|---|---|
| Net Assets (End of Year) | $72M |
| Net Income | -$44M |
| Employer EIN | 043067724 |
| Plan Effective Date | 2020-01-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Eastern Bank)
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 4 | 5,829 | $976M |
| 2023 | 3 | 5,359 | $1.0B |
| 2024 | 3 | 3,851 | $946M |
Nearby ESOP Plans in Massachusetts
Peer ESOP plans, same state, same plan type, ranked by total assets.
Eastern Bank Employee Stock Ownership Plan vs. nearby ESOP plans in Massachusetts, assets vs. participants
- Consigli Building Group Employee Stock Ownership Plan $612M · 1,511
- The Gillette Company Employee Stock Ownership Plan $349M · 174
- Shawmut Group Employee Stock Ownership Plan $274M · 716
- First Amended and Restated Creative Financial Staffing, Inc. Employee Stock Ownership Plan $245M · 641
- David Clark Employee Stock Ownership Plan $209M · 221
Similar-Sized ESOP Plans Nationally
ESOP plans in other states closest to Eastern Bank Employee Stock Ownership Plan by total assets, not by location.
Frequently Asked Questions
How did Eastern Bank Employee Stock Ownership Plan assets move in 2023? ▼
How have Eastern Bank plan assets changed over time? ▼
Where does Eastern Bank Employee Stock Ownership Plan rank by assets among Form 5500 filers? ▼
Which ESOP plans are similar in size to Eastern Bank Employee Stock Ownership Plan? ▼
Next read for Eastern Bank Employee Stock Ownership Pl…
Filing takeaways
Ways to act on Eastern Bank Employee Stock Ownership Plan's numbers.
- By total assets, Eastern Bank Employee Stock Ownership Plan ranks in the top 5% of all filed plans by assets. See the largest plans
- Compare it side-by-side against 3 similar ESOP plans in Massachusetts. Compare plans
- Eastern Bank's sponsor-wide assets have declined 3.0% since 2022 across 3 plan years on file. More Finance & Insurance plans