Eastern Bankshares, Inc.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

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Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Eastern Bankshares reports record 2022 earnings amidst margin challenges

Eastern Bankshares, Inc. delivered strong financial performance in 2022 with record net income and a favorable tax rate, despite facing challenges in Q4.
The company's focus on cost management, revenue diversification, and commercial loan growth positions it well to navigate near-term challenges and capitalize on opportunities.
While maintaining sound asset quality, Eastern Bankshares, Inc. must address margin contraction, liquidity concerns, and economic uncertainties to sustain its financial performance.

Eastern Bankshares, Inc. reports record earnings amidst strategic portfolio adjustments

Eastern Bankshares, Inc. delivered strong financial performance in Q1 2023, achieving record operating earnings and maintaining a robust capital position. While facing challenges in noninterest income and loan growth, the company remains focused on enhancing liquidity and asset quality. Opportunities lie in optimizing income streams and managing expenses to drive profitability.

Eastern Bankshares reports solid Q2 earnings amidst growth challenges

Eastern Bankshares' Q2 performance reflects resilience in a challenging banking environment, driven by strong commercial loan growth and improved asset quality metrics.
While facing challenges such as slower loan growth and reduced shareholders' equity, the company remains optimistic about future opportunities for growth and strategic initiatives.
Investors should monitor Eastern Bankshares' focus on revenue diversification, potential M&A activities, and capital management strategies to assess long-term sustainability and value creation.

Eastern Bankshares reports strong Q3 earnings amidst strategic advancements

Eastern Bankshares, Inc. delivered solid financial performance in Q3 2023, supported by strong asset quality and strategic initiatives.
While facing challenges in loan provisions and merger integration, the company is well-positioned to capitalize on growth opportunities.
Investors can look forward to potential synergies from the merger with Cambridge Trust and continued focus on optimizing the company's financial performance.

Eastern Bankshares, Inc. reports robust Q4 earnings and prepares for merger with Cambridge Bancorp

Eastern Bankshares, Inc. navigated 2023 with strategic repositioning efforts, resulting in a strong financial performance for Q4. The company's focus on resolving nonperforming loans and preparing for the Cambridge merger indicates a forward-looking approach. Despite challenges in loan growth, Eastern's financial stability and upcoming opportunities position it well for future growth.

Eastern Bankshares reports solid Q1 earnings, eyes growth through merger

Eastern Bankshares, Inc. navigated a tough Q1 with stable financial performance and a focus on strategic growth through the upcoming merger. Despite challenges from the environment and expenses, the company remains optimistic about future opportunities and the strength of its balance sheet.

Eastern Bankshares, Inc. reports robust Q2 earnings post-Cambridge Trust merger

Eastern Bankshares, Inc. demonstrated resilience amidst challenges, leveraging the Cambridge Trust merger for growth. With a focus on asset quality and operational efficiency, the company aims to navigate the evolving financial landscape strategically. The future outlook post-merger looks promising, with a strong emphasis on net interest margin, return metrics, and wealth business revenues.

Eastern Bankshares, Inc. excels post-merger, eyes organic growth and M&A

Eastern Bankshares, Inc.'s Q3 2024 earnings call highlighted a transformative period post-merger, with a focus on operational excellence, financial strength, and community impact. Despite facing some challenges, the company is well-positioned to leverage its strengths and pursue growth opportunities in the upcoming quarters.

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Eastern Bankshares, Inc. operates as a holding company, which engages in the provision of financial and banking services. It operates through the following segments: Banking and Insurance Agency segments. The Banking segment provides commercial, retail, lending, deposits, and wealth management services. The Insurance Agency segment offers commercial, personal, and employee benefits insurance products. Its. The Company was founded in 1818 and is headquartered in Boston, MA.

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the merger of Eastern Bankshares, Inc. (NASDAQ: EBC) and Cambridge Bancorp is fair to Eastern shareholders. Under the terms of the proposed transaction, each share of Cambridge common stock will be exchanged for 4.956 shares of Eastern common stock. Halper Sadeh encourages Eastern shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halpe.

EBC Stock Alert: Halper Sadeh LLC Is Investigating Whether the Merger of Eastern Bankshares, Inc. Is Fair to Shareholders

BOSTON--(BUSINESS WIRE)--Eastern Bank is pleased to announce its financing for the development of the LeClair Village Apartments, in Mashpee, MA. Scheduled to open in 2025, LeClair Village will feature 39 affordable rental units designed to serve low- and moderate-income households, including 14 one-bedroom apartments, 21 two-bedroom units, and 4 three-bedroom apartments. Eastern is providing a construction loan for the build-out of the Village, permanent financing for the ongoing operations of.

Eastern Bank Provides Financing For LeClair Village Apartments, An Affordable Housing Development On Cape Cod

BOSTON--(BUSINESS WIRE)--Eastern Bank is pleased to announce the election of six local community and business leaders to its Board of Advisors and Board of Ambassadors. The newly elected Advisors are: - Daniel Rivera, President and CEO, MassDevelopment - Andrea Silbert, President, the Eos Foundation, and - Grace Sterling Stowell, Executive Director, The Boston Alliance of Gay, Lesbian, Bisexual and Transgender Youth (BAGLY) The newly elected Ambassadors are: - Robert Corley, CEO, NeighborWorks.

Eastern Bank Welcomes New Members To Its Board Of Advisors And Board Of Ambassadors

Eastern Bankshares, Inc. (NASDAQ:EBC ) Q2 2023 Earnings Conference Call July 28, 2023 9:00 AM ET Company Participants Bob Rivers - Chair of the Board & Chief Executive Officer Jim Fitzgerald - Chief Administrative Officer, Chief Financial Officer & Treasurer-Eastern Bankshares, Inc.; Vice Chair, Chief Administrative Officer & Chief Financial Officer, Eastern Bank Conference Call Participants Damon DelMonte - KBW Mark Fitzgibbon - Piper Sandler Janet Lee - JPMorgan Operator Hello, and welcome to the Eastern Bankshares, Inc. Second Quarter 2023 Earnings Conference Call. Today's call will include forward-looking statements, including statements about Eastern's future financial and operating results, outlook, business strategies and plans as well as other opportunities and potential risks that management foresees.

Eastern Bankshares, Inc. (EBC) Q2 2023 Earnings Call Transcript

Although the revenue and EPS for Eastern Bankshares, Inc. (EBC) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Compared to Estimates, Eastern Bankshares, Inc. (EBC) Q2 Earnings: A Look at Key Metrics

Eastern Bankshares, Inc. (EBC) came out with quarterly earnings of $0.28 per share, missing the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.32 per share a year ago.

Eastern Bankshares, Inc. (EBC) Misses Q2 Earnings Estimates

BOSTON--(BUSINESS WIRE)--Eastern Bankshares, Inc. Reports Second Quarter 2023 Financial Results.

Eastern Bankshares, Inc. Reports Second Quarter 2023 Financial Results

BOSTON--(BUSINESS WIRE)--Eastern Bank is pleased to announce it has provided the financing to facilitate Raycon Construction, LLC's sale of 100% of its stock to a newly formed Employee Stock Ownership Plan (ESOP). Founded in 2007, Raycon Construction is one of the largest privately-owned concrete construction contractors in the Northeast. Eastern Bank is also providing a revolving line of credit to support the company's ongoing financial needs. This financing builds on a long-standing business.

Eastern Bank Provides Financing For Raycon Construction, LLC's Conversion To An Employee-Owned Company

BOSTON--(BUSINESS WIRE)--Eastern Bankshares, Inc. Announces Second Quarter 2023 Earnings Release Date, Conference Call and Webcast.

Eastern Bankshares, Inc. Announces Second Quarter 2023 Earnings Release Date, Conference Call and Webcast

Eastern Bankshares, Inc. (EBC) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Eastern Bankshares, Inc. (EBC) Upgraded to Strong Buy: Here's What You Should Know

BOSTON--(BUSINESS WIRE)--Eastern Bank is pleased to announce its financing for SPS New England, Inc.'s (SPS New England) conversion to an employee-owned company. Founded in 1984, SPS New England is a bridge, highway, transit and marine contractor providing construction, bridge repair and design-build services to municipal and state clients throughout New England. After working with SPS New England since 2017, Eastern Bank is now providing a term loan to support SPS New England's conversion to e.

Eastern Bank Provides Financing For SPS New England, Inc.'s Conversion To An Employee-Owned Company

BOSTON--(BUSINESS WIRE)--Three of Boston's award-winning business leaders in the hospitality and entertainment sector, Nia Grace—owner of Darryl's Corner Bar & Kitchen and The Underground Café & Lounge—along with Ed Kane and Randy Greenstein—owners of Big Night Entertainment Group—have joined forces to open ‘Grace by Nia', a modern-day supper club for which Eastern Bank is providing financing. Opened on May 11th in Boston's Seaport District, Grace by Nia puts a new twist on the supper c.

Eastern Bank Provides Financing for ‘Grace by Nia,' a New Modern-Day Supper Club in Boston's Seaport District

Eastern found itself in a tricky situation because of high interest rates. The bank had a large securities portfolio and was seeing heavy deposit outflows.

A Painful but Necessary Move: Eastern Bankshares Repositions Its Balance Sheet

Eastern Bankshares, Inc. (NASDAQ:EBC ) Q1 2023 Earnings Conference Call April 28, 2023 9:00 AM ET Company Participants Robert F. Rivers - Chairman and CEO James B.

Eastern Bankshares, Inc. (EBC) Q1 2023 Earnings Call Transcript

Eastern Bankshares, Inc. (EBC) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.32 per share a year ago.

Eastern Bankshares, Inc. (EBC) Beats Q1 Earnings Estimates

BOSTON--(BUSINESS WIRE)--Eastern Bankshares, Inc. Reports First Quarter 2023 Financial Results.

Eastern Bankshares, Inc. Reports First Quarter 2023 Financial Results

Eastern Bankshares, Inc. (EBC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Eastern Bankshares, Inc. (EBC) Reports Next Week: What You Should Expect

BOSTON--(BUSINESS WIRE)--Eastern Bankshares, Inc. (the “Company”) (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, today announced the following details regarding the report of the Company's first quarter 2023 results:

Eastern Bankshares, Inc. Announces First Quarter 2023 Earnings Release Date, Conference Call and Webcast

BOSTON--(BUSINESS WIRE)--As part of its deep and long-standing commitment to drive greater economic inclusion and mobility, Eastern Bank is announcing today the launch of Equity Alliance for Business to further advance the growth of underrepresented business owners and entrepreneurs.

Eastern Bank Launches Equity Alliance for Business, Further Advancing Growth Opportunities for Underrepresented Business Owners

In response to rising interest rates, all banks are dealing with intense deposit pressure.

Not Even This Strong Bank Is Immune to Deposit Pressure Right Now

Eastern reported earnings for the fourth quarter of the year.

Why Shares of Eastern Bankshares Are Falling Today

Eastern Bankshares, Inc. (NASDAQ:EBC ) Q4 2022 Earnings Conference Call January 27, 2023 9:00 AM ET Company Participants Robert F. Rivers - Chairman and CEO James B.

Eastern Bankshares, Inc. (EBC) Q4 2022 Earnings Call Transcript

Eastern Bankshares, Inc. (EBC) delivered earnings and revenue surprises of -13.89% and 4.39%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Eastern Bankshares, Inc. (EBC) Misses Q4 Earnings and Revenue Estimates

BOSTON--( BUSINESS WIRE )--Eastern Bankshares, Inc. (the “Company,” or together with its affiliates and subsidiaries, “Eastern”) (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2022 fourth quarter financial results and the declaration of a quarterly cash dividend. Net income for the fourth quarter of 2022 was $42.3 million, or $0.26 per diluted share, compared to net income of $54.8 million, or $0.33 per diluted share, reported for the third quarter of 2022. Operating net income* for the fourth quarter of 2022 was $49.9 million, or $0.31 per diluted share, compared to $55.7 million, or $0.34 per diluted share, reported for the prior quarter.

Eastern Bankshares, Inc. Reports Fourth Quarter 2022 Financial Results

BOSTON--( BUSINESS WIRE )--Eastern Bank is pleased to announce Done Right Building Services, Inc. (DRB Facility Services) as a new commercial customer. Founded in 1993 by President and CEO Anthony Samuels, DRB Facility Services provides comprehensive facilities services including commercial cleaning, landscape management, sustainable and green cleaning, and metal restoration and maintenance. Its clients include public transportation systems, higher education facilities, government buildings, retail environments, companies and office buildings across the United States. Eastern Bank is providing $3 million in financing, which includes a revolving line of credit for working capital, an equipment line of credit, and financing for acquisitions as DRB Facility Services seeks to expand its role in the industry.

News for Eastern Bankshares, Inc. Stock (EBC)