Eastern Bank adds Tobin Scientific as a new commercial banking customer

Boston, MA According to Eastern Bank, Tobin Scientific, a leading provider of ambient and cold GMP storage, biorepository services and specialized logistics for the life sciences industry, is a new commercial banking customer. Eastern Bank is providing Tobin Scientific with a full-service banking relationship that includes financing as well as deposit and treasury services. Founded in 1960 and headquartered in Beverly, Mass., Tobin Scientific is a family-owned business dedicated to the safe and reliable transport and storage of temperature-sensitive products, specializing in biopharma cold chain, ambient storage, and transport and logistics services nationally. Eastern Bank is providing $32 million in financing to support Tobin Scientific’s growth initiatives, including capital for a new facility and recent acquisition efforts.

“We’re proud to support Tobin Scientific as it seeks to accelerate growth across its infrastructure and expand its storage and logistics capacity, broaden its geographic footprint in key hubs nationally, and support M&A initiatives across the broader sector’s supply chain,” said Greg Buscone, executive vice president, chief commercial banking officer of Eastern Bank. “We’re excited to support their vision of meeting the evolving needs of their customers in the Boston area and nationwide.”

“As a growing, family-owned business with roots in the North Shore of Massachusetts, we’re thrilled to work with Eastern Bank,” said Brian Tobin, CEO of Tobin Scientific. “We value how Eastern takes the time to get to know our business and is responsive with a local commercial banking team – with a shared interest in our region – and the resources to support our vision for growth.”

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 Tobin Scientific includes: executive vice president, chief commercial banking officer Greg Buscone; senior vice president and commercial group director Dan Field; senior vice president and commercial team leader Frank Coccoluto; and vice president, commercial portfolio manager Myla Tran.