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Meridian Bancorp, Inc. (EBSB)

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Meridian Bancorp, Inc.

67 Prospect Street
Peabody, MA 01960
United States
617-567-1500
http://www.ebsb.com

SectorFinancial
IndustrySavings & Loans
Full Time Employees412

Key Executives

NameTitlePayExercisedAge
Mr. Richard J. GavegnanoChairman, CEO and Pres1.07M42.26k69
Mr. Mark L. Abbate CPACFO, EVP & Treasurer380.19kN/A61
Mr. John MigliozziEVP of Real Estate Lending and EVP of Real Estate Lending - East Boston Savings Bank393.38kN/A59
Mr. Edward J. MerrittEVP of Bus. Devel. & Community Relations, Corp. Sec. & Director363.06kN/A57
Mr. Frank P. RomanoExec. VP of Corp. Banking and Exec. VP of Corp. Banking - East Boston Savings Bank364.81kN/A62
Amounts are as of December 31, 2016 and compensation values are for the last fiscal year ending on that date. Pay is salary, bonuses, etc. Exercised is the value of options exercised during the fiscal year. Currency in USD.

Description

Meridian Bancorp, Inc. operates as the holding company for East Boston Savings Bank that provides various financial products and services for individuals and businesses primarily in Suffolk, Norfolk, Middlesex, and Essex counties, Massachusetts. The company accepts various deposit products, such as non-interest-bearing demand deposits comprising checking accounts; interest-bearing demand accounts, including NOW and money market accounts; savings accounts; and certificates of deposits, as well as commercial checking accounts. Its loan portfolio consists of commercial real estate loans, which are secured by properties used for business purposes, such as office buildings, industrial facilities, and retail facilities; one- to four-family residential loans, including mortgage loans that enable borrowers to purchase or refinance existing homes; multi-family real estate loans; construction loans; commercial and industrial loans; home equity lines of credit; and consumer loans, including automobile loans, loans secured by passbook or certificate accounts, credit builder, and annuity and overdraft loans. In addition, it provides non-deposit financial products comprising mutual funds, annuities, stocks, and bonds through a third-party broker-dealer; and long-term care insurance products. Further, the company is involved in securities transactions business; and holding foreclosed real estate properties. As of December 31, 2016, it operated through a network of 31 full service offices, mobile branch, and 3 loan centers. The company was founded in 1848 and is based in Peabody, Massachusetts.

Corporate Governance

Meridian Bancorp, Inc.’s ISS Governance QualityScore as of August 1, 2017 is 6. The pillar scores are Audit: 1; Board: 7; Shareholder Rights: 8; Compensation: 5.

Corporate governance scores courtesy of Institutional Shareholder Services (ISS). Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance risk, while a 10 indicates higher governance risk.