Eagle Bank celebrated its 125th anniversary on May 11. Formerly Everett Savings Bank, the mutual savings bank opened on May 11, 1889. The first deposit was for $15 and made by the son of the first president of the bank. On the first day of operations, Everett Savings Bank took in more than $4,000 in deposits. Today, Eagle Bank has more than $430 million in assets and is expanding.
“We’re extraordinarily proud of the bank’s 125 years in the community of Everett,” says James Whittaker, President and CEO. “We’ve stayed a strong community bank dedicated to serving people on a personal basis. We’ve seen it grow quite a bit.”
During the depression, the bank offered rational, caring advice to the community in the local newspaper. Eagle Bank also sold defense bonds and stamps during World War II to raise funds for the war effort.
Eagle Bank’s current building at 466 Broadway, Everett, was erected in the early 1900s. It contains a massive bank vault that is one of a handful in Massachusetts. Now, Eagle Bank has five full service branches and one loan center in Everett, Medford, and Lexington. They will be opening a sixth full service branch on Hanover Street in the North End this summer.