Eastern Bank Q2 2023 Earnings Report
Key Takeaways
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.
Total revenue was $195.4 million, with total operating revenue of $196.3 million, up $1.5 million from the prior quarter.
Net income reached $48.7 million, or $0.30 per diluted share, compared to a net loss in the previous quarter.
Total loans increased by $286.6 million, or 2.1%, to $14.0 billion compared to the prior quarter.
The net interest margin expanded 14 basis points to 2.80%.
Eastern Bank
Eastern Bank
Eastern Bank Revenue by Segment
Forward Guidance
The company is well-positioned to meet customer needs in an uncertain economic environment due to its strong balance sheet and core earnings.
Revenue & Expenses
Visualization of income flow from segment revenue to net income