FORM 10-C

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

REPORT BY ISSUER OF SECURITIES QUOTED ON THE NASDAQ STOCK MARKET, FILED 
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 AND
RULE 13a-17 OR 15d-17 THEREUNDER.

EXACT NAME OF ISSUER AS SPECIFIED IN CHARTER:     Eastern Bancorp, Inc.

ADDRESS OF PRINCIPAL EXECUTIVE OFFICES:           537 Central Avenue
                                                  Dover, NH  03820

ISSUER'S TELEPHONE NUMBER (INCLUDING AREA CODE):  (603) 749-2150

I.  CHANGE IN NUMBER OF SHARES OUTSTANDING
Indicate any change (increase or decrease) of five percent or more in the 
number of shares outstanding:

1.  Title of security Common Shares, $.01 par value per share

2.  Number of shares outstanding before the change   2,730,455
                                                  ----------------------------
3.  Number of shares outstanding after the change    4,095,549
                                                  ----------------------------
4.  Effective date of change     June 19, 1996
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5.  Method of change     Stock Split
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Specify method (such as merger, acquisition, exchange, distribution, stock 
split, reverse split, acquisition of stock for treasury, etc.)

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Give a brief description of transaction  three-for-two stock split in the 
                                       ---------------------------------------
form of a 50% dividend
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II. CHANGE IN NAME OF ISSUER

1.  Name prior to change
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2.  Name after change
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3.  Effective date of charter amendment changing name
                                                     -------------------------
4.  Date of shareholder approval of change, if required
                                                       -----------------------

July 3, 1996                 /s/ Janine K. Pinel
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DATE                       OFFICER'S SIGNATURE AND TITLE