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Date of Report (Date of earliest event reported): October 22, 1997
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Emerald Isle Bancorp, Inc.
730 Hancock Street
Quincy, Massachusetts 02170
(617) 479-5001
(Address and telephone number of principal executive offices)
Massachusetts 0-21175 04-3300934
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
Item 5. Other Events.
On October 22, 1997, Emerald Isle Bancorp, Inc. ("Emerald Isle")
entered into a definitive agreement with Eastern Bank Corporation
("Eastern"), pursuant to which Eastern will acquire Emerald Isle and its
wholly-owned subsidiary, The Hibernia Savings Bank, for $33.00 cash per share
of common stock of Emerald Isle, for an aggregate acquisition price of
approximately $80 million. The proposed acquisition has been approved by the
boards of directors of both Emerald Isle and Eastern, and is subject to
approval by the stockholders of Emerald Isle, and state and federal
regulatory authorities. Subject to receipt of all necessary approvals, the
transaction is expected to be completed in early 1998.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized, in the City of Quincy, State of
Massachusetts, this 30th day of October, 1997.
Emerald Isle Bancorp, Inc.
Date: October 30, 1997 By: /s/ Gerard F. Linskey
Gerard F. Linskey, Treasurer
