Eastern Bank Earnings Reports

Eastern Bankshares, Inc. reported a net income of $38.6 million, or $0.24 per diluted share, for the first quarter of 2024. The company saw growth in core deposits and loans, with a stable net interest margin and well-controlled expenses. The merger with Cambridge Bancorp is expected to close early in the third quarter of 2024, pending regulatory approvals.

Eastern Bankshares, Inc. reported a strong fourth quarter in 2023, marked by strategic repositioning including the sale of its insurance operations which resulted in an after-tax gain of $294.5 million. Net income stood at $318.5 million, or $1.95 per diluted share. The company also focused on growing core deposits and reducing wholesale funding, while preparing for its merger with Cambridge Bancorp.

Eastern Bankshares, Inc. reported a net income of $59.1 million, or $0.36 per diluted share, for the third quarter of 2023. The company's board declared a 10% increase in the quarterly cash dividend to $0.11 per share, demonstrating confidence in its earnings capacity and commitment to long-term shareholder value.

Eastern Bankshares, Inc. reported strong second quarter results with a net income of $48.7 million, or $0.30 per diluted share. The company's net interest margin expanded 14 basis points, and operating revenues increased by $1.5 million.

Eastern Bankshares, Inc. reported a net loss of $194.1 million for Q1 2023, primarily due to a $280 million after-tax loss from the sale of available-for-sale securities. However, operating net income was a record $61.1 million, driven by an increase in insurance commissions and a balance sheet repositioning. The company strengthened its liquidity, providing 107% coverage of uninsured deposits while maintaining a strong capital position.

Eastern Bankshares, Inc. reported a net income of $42.3 million for the fourth quarter of 2022, or $0.26 per diluted share. Operating net income for the same period was $49.9 million, or $0.31 per diluted share. Total assets reached $22.6 billion, marking a 3% increase from the previous quarter.

Eastern Bankshares, Inc. reported a strong third quarter in 2022, with net income of $54.8 million, or $0.33 per diluted share, compared to $51.2 million, or $0.31 per diluted share, in the previous quarter. The company experienced significant loan growth and an expansion of the net interest margin, driving a 10% increase in net interest income.

Eastern Bankshares, Inc. reported a net income of $51.2 million for Q2 2022, or $0.31 per diluted share. The company experienced growth in net interest income and loan growth across major lending categories. The net interest margin expanded, contributing to record quarterly revenue.

Eastern Bankshares, Inc. reported a strong first quarter with net income of $51.5 million, or $0.30 per diluted share. Operating net income was $55.1 million, or $0.32 per diluted share, a 23% increase compared to the same period last year. The company realized benefits from investments made to grow the business and solidify its position as a leading community bank.

Eastern Bankshares, Inc. reported a net income of $35.1 million, or $0.20 per diluted share, for the fourth quarter of 2021. The company completed the merger with Century Bancorp, Inc. on November 12, 2021, adding approximately $7 billion of total assets.

Eastern Bankshares, Inc. reported a net income of $37.1 million, or $0.22 per share, for the third quarter of 2021, demonstrating strong financial performance and optimism about future profitability as the economy recovers. The company saw significant loan growth excluding PPP loans and maintained strong asset quality. A share repurchase program was approved, contingent on regulatory approval.

Eastern Bankshares, Inc. reported net income of $34.8 million, or $0.20 per share, for the second quarter of 2021. Excluding merger-related and overdraft litigation expenses, operating net income was $37.1 million, or $0.22 per share. Total assets reached $17.0 billion, and total loans were $9.6 billion. The company saw growth in residential and commercial loans, excluding PPP loans, and an increase in net interest income.

Eastern Bankshares, Inc. reported a net income of $47.7 million, or $0.28 per share, for the first quarter of 2021, compared to a net loss of $44.1 million, or $0.26 per share, for the fourth quarter of 2020. The company originated $453 million in PPP loans during the quarter and announced a merger with Century Bancorp, Inc.

Eastern Bankshares, Inc. reported a net loss of $44.1 million for Q4 2020 due to a one-time donation of stock to the Eastern Bank Charitable Foundation. However, operating net income was $31.6 million, and the company initiated a quarterly cash dividend of $0.06 per share.