What Eagle Bank does

Eagle Bank is a privately held, state-chartered community bank headquartered in Everett, Massachusetts, founded in 1889 and operating 7 branch locations across Massachusetts (Everett, Boston North End, Lexington, Middleton) and Maine (Kennebunk), with administrative offices in Peabody, MA. The bank serves two primary customer segments: individual consumers (checking, savings, money market, CDs, IRAs, personal credit cards, residential mortgages, construction loans, and home equity products) and small to mid-size businesses (business checking and savings, commercial mortgages, SBA 7(a)/504 loans, business term loans, lines of credit, land development loans, business credit cards, and treasury/cash management). Its lending products include 30-year fixed mortgages (6.375%), 15-year fixed (5.500%), 7/1 ARM products, commercial mortgages from $100K to $5.5M, and consumer deposit products such as Elite Money Market at 3.49% APY and 6-12 month CDs at 3.25% APY.

The bank's technology stack centers on a Digital Banking platform (online banking portal, iOS/Android mobile apps, mobile check deposit, eStatement, bill pay, and alerts) backed by Eagle eXchange Online Banking for business treasury and cash management (supporting internal transfers, domestic/international wires, ACH origination, tax payment templates, custom approval workflows, and reconciliation). Security is provided through SSL/TLS encryption, security firewalls, real-time intrusion detection, and RSA Authenticator-based multi-factor authentication for cash management access. Merchant services accept magnetic stripe, EMV, Apple Pay, and Google Pay. Credit card issuance is outsourced to Elan Financial Services (Visa/Mastercard), SBA loans are originated in partnership with the U.S. Small Business Administration, and business checks are fulfilled via Deluxe Corporation — the bank uses a partnership-based delivery model rather than building all capabilities in-house.

Eagle Bank generates revenue primarily through interest income on its loan portfolio (commercial mortgages, construction, business term loans, lines of credit, residential mortgages, home equity, consumer loans), supplemented by deposit account service fees (Heritage Business Checking at $8/month, Liberty Business Checking at $16/month with waiver conditions), loan origination and closing fees, annual facility fees on lines of credit, interchange and interest income on partner-issued credit cards, and treasury/cash management service fees. The bank distributes through a relationship-led model with branch bankers, commercial loan officers, SVP-level commercial team leaders, residential lenders, and a call center, supplemented by content marketing via its "The Nest" educational blog and active social media presence. All deposits carry dual FDIC and Depositors Insurance Fund (DIF) coverage, providing 100% deposit insurance — a structural trust advantage that is rare outside of Massachusetts mutual and cooperative banks.

Name

Eagle Bank

Legal name

Eagle Bank

Website

https://bankeagle.com

Company type

Private

Founded year

1889

Operating status

Operating

Headcount range

101–250 employees

Short description

Eagle Bank is a privately held community bank founded in 1889, operating 7 branches across Massachusetts and Maine, serving individual consumers and small-to-mid-size businesses with deposits, mortgages, commercial lending, SBA loans, and treasury management services.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

Savings Institutions, Not Federally Chartered (6036), Personal Credit Institutions (6141), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

Keywords

• Community banking services
• Commercial lending
• Residential mortgages
• Small business banking
• Deposit accounts

Headquarters

HQ city

Everett

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Eagle Bank generates primary revenue through interest income on loans including commercial mortgages, construction loans, business term loans, lines of credit, residential mortgages, home equity lines, and consumer loans. Interest rates are variable or fixed based on loan type.
2. Deposit Account Fees: Monthly service fees for business and personal checking accounts, with fee waivers based on minimum balance requirements or transaction volumes. Additional fees for overdraft protection transfers.
3. Business Loan Fees: Origination fees and closing costs on commercial real estate mortgages, land development loans, business term loans, and lines of credit. Annual facility fees on lines of credit.
4. SBA Loan Program: SBA 7(a) and SBA 504 loans offered through partnership with the U.S. Small Business Administration, generating revenue through interest, origination fees, and SBA guarantee fees.
5. Credit Card Revenue: Business and personal credit cards issued in partnership with Elan Financial Services, generating interchange revenue and interest income on balances.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Eagle Bank is a community bank headquartered in Everett, Massachusetts that provides personal and business banking products through seven branches across Massachusetts and Maine. Core offerings include deposit accounts (checking, savings, CDs, money market), residential mortgages and home equity lending, consumer and business credit cards, and a full suite of commercial lending (commercial mortgages, SBA loans, lines of credit, term financing, land development loans) supported by treasury, cash management, and digital banking services.

Product overview

Eagle Bank is a community bank offering a unified portfolio of personal and business banking products. Personal banking centers on deposit accounts (checking, savings, CDs, money market), residential mortgages (fixed-rate, ARM, construction), home equity products, credit cards, and retirement accounts. Business banking encompasses commercial lending (mortgages, SBA loans, term financing, lines of credit, land development), deposit accounts, treasury and cash management services, and business credit cards. A shared Digital Banking platform (online and mobile) supports both segments. All deposits carry dual insurance through FDIC and the Depositors Insurance Fund (DIF).

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking

Quantifiable outcome

• Deposit insurance covers 100% of deposits with FDIC plus DIF coverage
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature6 records

Partnerships

Three partnerships are on record, tiered core and minor.

• U.S. Small Business Administration (SBA)coreStrategic or Co-development PartnerEagle Bank partners with the SBA to offer SBA 7(a) and SBA 504 loan programs designed to help small businesses start, get established, and expand. SBA loans combine the flexibility of local banking with federal loan program strength by offering favorable terms, lower down payments, and extended repayment options. The SBA provides a partial guarantee that reduces risk and helps more small businesses access capital.
• Elan Financial ServicescoreTechnology or IntegrationEagle Bank offers business and personal credit cards through a partnership with Elan Financial Services. Elan provides card issuance, zero fraud liability protection, and 24/7 cardmember service. Cards are issued under Visa and Mastercard licenses, with Elan handling backend processing and customer service while Eagle Bank markets and originates cards to its customers.
• Deluxe CorporationminorChannel Partner/ Reseller/ DistributorEagle Bank partners with Deluxe Corporation for business check reordering. Customers can purchase checks directly through Deluxe via a link on Eagle Bank's website, providing a convenient integrated service for business banking customers.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• East Boston Savings Bank (East Bank): Direct Massachusetts community bank peer headquartered in the same metro region (East Boston/Suffolk County) as Eagle Bank's Everett HQ. Similar product suite of consumer deposits, residential mortgages, and small business lending, with comparable branch footprint serving the Boston North Shore and immediate suburbs.
• Salem Five Bank: Massachusetts mutual community bank with similar consumer and commercial banking focus across the North Shore. Directly comparable in geography and product mix; notably, Eagle Bank's SVP Chief Credit Officer Ryan Kelly was most recently SVP Senior Credit Officer at Salem Five, indicating direct talent flow between the two institutions.
• Cambridge Savings Bank: Massachusetts-based mutual community bank with comparable full-service consumer and commercial lending products, similar branch-driven GTM, and overlapping SBA and CRE lending programs. Operates in adjacent Boston-area geography to Eagle Bank with comparable SMB and high-net-worth customer segments.
• Brookline Bank: Massachusetts community bank with similar consumer and commercial banking product suite including mortgages, HELOCs, commercial real estate lending, and SBA loans. Operates in the greater Boston metro with comparable relationship-led commercial banking model and overlapping branch-adjacent geography.
• Century Bank: Massachusetts-chartered community bank headquartered in Medford with similar commercial banking focus on SMB and middle-market C&I lending, CRE, and SBA programs. Closely comparable size, customer segments, and relationship-banking model in the greater Boston market.

Regional players

• Rockland Trust (Independent Bank Corp): Largest Massachusetts-headquartered community bank with significantly larger branch network (100+) across MA and RI. Comparable consumer/SMB/commercial lending focus but at much greater scale, providing a competitive ceiling on Eagle Bank's deposit and loan pricing power in shared geographies.
• Berkshire Bank: New England community bank with comparable product suite across MA, CT, VT, NY, and RI. Offers similar SBA, CRE, and consumer lending products and competes for the same relationship banking customers in western and central Massachusetts adjacent to Eagle Bank's geography.
• Hingham Institution for Savings: Massachusetts-chartered savings bank with similar mortgage-heavy product mix and conservative commercial lending posture. Operates in greater Boston South Shore geography adjacent to Eagle Bank; comparable in charter type (savings institution) and customer demographic focus.
• MountainOne Bank: Massachusetts community bank with comparable consumer and business banking offerings, including SBA loans, commercial mortgages, and treasury services. Smaller scale and different (Western MA/South Shore) footprint but comparable product depth and SMB relationship orientation.

Others

• Elan Financial Services: Crucial technology and processing partner rather than a direct competitor; Elan issues the credit cards Eagle Bank distributes under Visa/Mastercard. Included as a peer because Eagle Bank's card revenue stream is entirely dependent on Elan, making this relationship a key operational and commercial consideration.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/bankeagle
• LinkedInlinkedin.com/company/eagle-bank
• Instagraminstagram.com/bankeagle
• Xx.com/bankeagle

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Eagle Bank