All eyes were on Eastern Bank Corporation as it went public in October 2020, one of the few initial public offerings of the year by a US bank. As one of the oldest and largest mutual savings banks in the country, some believe that its demutualisation signals an appetite for acquisitions.
Importantly, the move allowed the bank to increase its assets by 37.3% and its Tier 1 capital by a whopping 136.5%, to $3bn, securing it first place in the highest movers’ table. It also jumped up 254 places in the Top 1000 ranking, to 406th.
