1. Eastern Bank announces Genuine Foods as an asset-based lending customer. 2. Genuine Foods provides meals to K-12 schools and higher education institutions. 3. Eastern Bank supports Genuine Foods with a tailored banking solution. 4. Over 16 million meals delivered by Genuine Foods in the past year. 5. Eastern Bank emphasizes community-focused lending and support for purpose-driven businesses.
Eastern's asset-based lending to Genuine Foods indicates strong growth potential for both companies. This support reflects a healthy lending portfolio which may enhance investor confidence, akin to past successful partnerships in the foodservice sector.
The article highlights significant partnership developments that could enhance EBC's market perception and long-term profitability, supporting its growth narrative.
The partnership is likely to yield sustained growth for Genuine Foods, which can indirectly support Eastern Bank's valuation in the long term. Historical trends show that banks fostering relationships with resilient companies often enjoy improved performance metrics.
Provides Banking Solution To Support Growth of Foodservice Management Company
Eastern Bank is pleased to announce Genuine Food Lab, LLC (Genuine Foods) as a new asset-based lending customer. Founded in 2013, Genuine Foods is a Boston-based foodservice management company that specializes in providing quality food for K–12 schools, higher education institutions, senior living communities and specialty venues across 16+ states. The company is committed to making fresh, high-quality school food and meals accessible to all and has delivered more than 16 million meals to public, independent and higher education academic institutions in the past year. Eastern Bank is providing a line of credit and full suite of treasury management services.
"Genuine Foods is a leading, national purpose-driven food service company focused on wellness and the highest quality hospitality," said Greg Buscone, Executive Vice President, Chief Commercial Banking Officer of Eastern Bank. "We're proud to support their mission and provide a customized banking solution that reflects our collaborative approach to lending and shared commitment to doing good in the communities we serve."
"Eastern Bank's leadership as a force for good stands out and is something we appreciate given our focus on delivering real food with impact to our customers," said Jeff Mills, Founder and CEO of Genuine Foods. "The team was highly responsive to our needs, took the time to understand our vision, and created a financing and treasury management solution that supports our business goals. We're proud to work with a bank that shares our commitment to community and purpose-driven business."
Eastern Bank provides a range of commercial financing offerings to help companies across many industries improve cash flow, increase efficiencies and build for the future. Commercial lending solutions include working capital/lines of credit, equipment/term loans, real estate loans, acquisition financing, asset-based lending, franchise lending and employee stock ownership plan-related financing.
The Commercial Banking team advising Genuine Foods includes: Executive Vice President, Chief Commercial Banking Officer Greg Buscone; Senior Vice President, Head of Asset-Based Lending Donald Lewis; and Senior Vice President, Asset-Based Lending Relationship Manager Justin Mills.
About Eastern Bank
Founded in 1818, Eastern Bank is Greater Boston's leading local bank with approximately 110 branch locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, Rhode Island and Connecticut. As of June 30, 2025, Eastern had approximately $25.5 billion in assets. Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes including through its Cambridge Trust Wealth Management division, the largest bank-owned independent investment advisor in Massachusetts with $8.7 billion in assets under management, and takes pride in its outspoken advocacy and community support that includes more than $240 million in charitable giving since 1994. An inclusive company, Eastern is comprised of deeply committed professionals who value relationships with their customers, colleagues and communities. Join us for good at www.easternbank.com and follow Eastern on Facebook, LinkedIn, and Instagram. Eastern Bankshares, Inc. (NASDAQ:EBC) is the holding company for Eastern Bank. For investor information, visit investor.easternbank.com.
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Media contact:
Andrea Goodman
Eastern Bank
a.goodman@easternbank.com
781-598-7847
Investor contact:
Andrew Hersom
Eastern Bankshares, Inc.
InvestorRelations@easternbank.com
860-707-4432