Joseph F. Casey
About Joseph F. Casey
Independent banking operator with deep CFO-to-CEO experience, appointed to Eastern Bankshares, Inc. (EBC) and Eastern Bank boards effective November 1, 2025, with a term expiring in 2027; serves on EBC’s Risk Management Committee and as a trustee of the Eastern Bank Foundation . Previously President & CEO of HarborOne (2022–2025) following roles including President & COO (2018–2022), EVP/COO/CFO/Treasurer (2016–2018) and, earlier, CFO (2004–2015); inactive Certified Public Accountant . Tenure on EBC’s board began 11/1/2025 . Core credentials include financial/accounting expertise, enterprise operating leadership, and community banking relationships in EBC’s market footprint .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| HarborOne Bancorp, Inc. / HarborOne Bank | President & Chief Executive Officer | 2022–2025 | Led publicly listed regional bank; appointed to EBC Board concurrent with merger close |
| HarborOne Bancorp, Inc. / HarborOne Bank | President & Chief Operating Officer | 2018–2022 | Oversaw bank operations; board member since Feb 2017 |
| HarborOne (Holdco and Bank) | EVP, COO, CFO & Treasurer | 2016–2018 | Senior finance and operations leadership |
| HarborOne Bank | EVP & Chief Financial Officer | 2006–2015 | Led finance function during growth phase |
| Seacoast Financial Services (MA) | Vice President | Prior to 2004 | Financial services leadership role |
| Compass Bank for Savings (MA) | SVP, Chief Financial Officer & Treasurer | 2003–2004 | Senior financial officer at community bank |
| Andover Bancorp, Inc. (MA) | CFO, Treasurer, Controller, Internal Auditor (various titles) | 17 years (dates not specified) | Progressive finance roles; inactive CPA credential |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| HarborOne Bancorp, Inc. | Director | Feb 2017–Nov 2025 | Board member until merger; adds interlock history with acquired entity |
| HarborOne Bank | Director | Feb 2017–Nov 2025 | Board member until merger close |
| Eastern Bank Foundation | Trustee | Effective Nov 1, 2025 | Appointed trustee at EBC merger close |
Board Governance
| Item | Details |
|---|---|
| EBC Board term | Term expires 2027 (appointed effective Nov 1, 2025) |
| Committee memberships | Risk Management Committee (EBC and Eastern Bank) |
| Committee focus (Risk) | Oversight of ERM framework; credit, capital, liquidity, IRR; regulatory, operational, cyber, reputational and conduct risk |
| Foundation role | Trustee, Eastern Bank Foundation |
| Board structure context | Board declassification ongoing; all directors stand for annual election beginning 2027 |
| Lead Independent Director framework | Lead Director role (independent) established with defined responsibilities |
| Independence status | Board determines director independence under Nasdaq/SEC and Company policies; current proxy lists independent directors as of 3/14/2025 (prior to Casey’s appointment) |
Fixed Compensation
| Component | Amount/Terms | Notes |
|---|---|---|
| Annual Board retainer (non-chair) | $55,000 | 2024 program; directors serving all year received cash retainer |
| Annual equity grant | ~$65,000 in restricted stock | Time-based restricted stock; 2024 grant date May 13, 2024 |
| Committee member fees | $5,000–$10,000 annually | Varies by committee; includes Bank board committees and Foundation board |
| Committee chair retainers | $10,000–$20,000 | Additional to member fees |
| Lead Director retainer | $40,000 | Annual retainer for Lead Independent Director |
| Special/additional meeting fees | Per-meeting fees for designated bodies | E.g., board of advisors/ambassadors, investment advisory committee |
| Employee directors | No director compensation | Directors who are employees do not receive director pay |
Note: Casey’s 2025 compensation will follow EBC’s director program as adopted for the period following his November 2025 appointment; specific pro-ration/grant details for him were not disclosed in the filings reviewed .
Performance Compensation
| Element | Structure | Performance Metrics |
|---|---|---|
| Director equity | Time-based restricted stock (RSUs) | No director performance metrics disclosed; RSUs vest time-based under director program |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | EBC (appointed Nov 1, 2025) |
| Prior public company boards | HarborOne Bancorp, Inc. (served until merger close Nov 1, 2025) |
| Interlocks/potential conflicts | Only disclosable transaction since Jan 1, 2024 involving Casey is the merger transaction itself (HarborOne–EBC) |
Expertise & Qualifications
- Financial and accounting expert; inactive CPA; extensive CFO and COO background across multiple banks .
- Deep operating experience as President & CEO of HarborOne, with strong customer and community relationships aligned to EBC’s footprint .
- Risk oversight: appointed directly to EBC’s Risk Management Committee, aligning experience with ERM governance needs .
Equity Ownership
- Not disclosed for Casey in EBC’s March 27, 2025 proxy (predates his appointment). Section 16 Form 3/4 filings not referenced in the documents reviewed .
Governance Assessment
-
Positive signals
- Direct appointment to Risk Management Committee leverages Casey’s bank operating and finance background for ERM, credit, and capital oversight during post-merger integration .
- Board policies restrict director hedging/pledging, reinforcing alignment; directors have stock ownership guidelines (5x cash retainer) with holding requirements until compliance, supporting investor alignment .
- Board declassification culminating in 2027 enhances director accountability; Casey’s term aligns with transition to annual elections .
-
Watch items
- Independence determination for Casey will be assessed by the Board under Nasdaq/SEC and Company standards in due course; the March 2025 proxy’s independence list predates his appointment .
- Related-party exposure limited to the merger transaction itself; no other disclosable related-party transactions involving Casey were identified in reviewed filings .
-
Attendance/engagement
- No attendance data yet for Casey post-appointment; as context, in 2024 the Board held 15 meetings and all then-serving directors attended >75% of their meetings .
Overall: Casey brings CFO/CEO-level operating and financial discipline directly into the Risk Management Committee at a pivotal time, a constructive signal for board effectiveness and risk oversight post-merger. Policies on ownership, hedging/pledging, and declassification support investor confidence; formal independence status and future attendance will be important datapoints to monitor in the next proxy .