SEC Form 10-Q filed by Eastern Bankshares Inc.

Key Highlights: Merger solidifies Eastern's leading position in Greater Boston while expanding into Rhode Island Financially compelling transaction with 16% EPS accretion resulting in top quartile operating profitability1 Pro forma balance sheet has robust capital, liquidity and reserves Eastern Bankshares, Inc. ("Eastern" or "the Company") (NASDAQ:EBC), the holding company for Eastern Bank, and HarborOne Bancorp ("HarborOne") (NASDAQ:HONE), the holding company for HarborOne Bank, today jointly announced they have entered into a definitive merger agreement pursuant to which HarborOne will merge with and into Eastern in a stock and cash transaction. Under the terms of the merger agr

Completed $1.3 Billion Investment Portfolio Repositioning Announces 8% Increase to Quarterly Dividend Net loss of $217.7 million, or $1.08 per diluted share, included non-operating loss related to investment portfolio repositioning. Operating net income of $67.5 million, or $0.34 per diluted share. Net interest margin on a fully tax equivalent basis expanded 33 basis points to 3.38%, due to higher asset yields and lower cost of funds. Non-performing loans of $91.6 million or 0.51% of total loans, an improvement from $135.8 million or 0.76% at year-end 2024. Strong balance sheet with robust capital and reserve levels. Quarter-end CET1 ratio of 14.15%(2) and allowance coverage to t

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 2025 results: Earnings Release: Thursday, April 24, 2025 after the market close   Conference Call: Friday, April 25, 2025 at 9:00 AM Eastern Time   Join by Telephone: Toll-Free Dial-In Number: (800) 549-8228 Conference ID: 70523   Webcast: The conference call will be simultaneously webcast. Participants may join the webcast on the Company's Investor Relations website at investor.easternbank.com. A replay of the webca

David Farwell and Randi Baskin Blume Bring Decades of Franchise Lending Experience Eastern Bank is pleased to expand its Franchise Lending group with the arrivals of Senior Vice President and Head of Specialty Finance David Farwell and Senior Vice President of Franchise Finance Randi Baskin Blume. Both bring extensive expertise in franchise lending and commercial banking. "It is an exciting time for Eastern Bank as we build out our franchise lending offering, and we are thrilled to welcome David Farwell and Randi Baskin Blume to the team," said Greg Buscone, Executive Vice President, Chief Commercial Banking Officer of Eastern Bank. "David's track record of developing high-performing team

Eastern Bank, Greater Boston's leading local bank, is pleased to announce that Kimberly Dee, a highly accomplished retail, customer transformation and business banking executive, has been named Executive Vice President, Consumer Banking Director. She will also serve on the Bank's Management Committee, comprised of Eastern's most senior executives. Dee most recently served as Executive Vice President and Head of the Retail Branch Network of Citizens Financial Group, where she was a member of its Executive Leadership Group. "Delivering a truly differentiated, personalized customer experience across a full range of banking and wealth management solutions is central to Eastern's focus as Great

Eastern Bank Surpasses $25 Billion In Assets Eastern Bankshares, Inc. ("Eastern") (NASDAQ Global Select Market: EBC), the stock holding company for Eastern Bank, today announced the closing of its merger with Cambridge Bancorp (NASDAQ:CATC) ("Cambridge"), the parent company of Cambridge Trust Company (the "Merger"). The all-stock transaction was originally announced on September 19, 2023. "We are excited to have successfully completed Eastern's merger with Cambridge Trust and in doing so, to strategically solidify Eastern's position as Greater Boston's leading local bank and Cambridge Trust Wealth Management as the largest bank-owned independent investment advisor in Massachusetts," sai

Key Highlights: Merger solidifies Eastern's leading position in Greater Boston while expanding into Rhode Island Financially compelling transaction with 16% EPS accretion resulting in top quartile operating profitability1 Pro forma balance sheet has robust capital, liquidity and reserves Eastern Bankshares, Inc. ("Eastern" or "the Company") (NASDAQ:EBC), the holding company for Eastern Bank, and HarborOne Bancorp ("HarborOne") (NASDAQ:HONE), the holding company for HarborOne Bank, today jointly announced they have entered into a definitive merger agreement pursuant to which HarborOne will merge with and into Eastern in a stock and cash transaction. Under the terms of the merger agr

Completed $1.3 Billion Investment Portfolio Repositioning Announces 8% Increase to Quarterly Dividend Net loss of $217.7 million, or $1.08 per diluted share, included non-operating loss related to investment portfolio repositioning. Operating net income of $67.5 million, or $0.34 per diluted share. Net interest margin on a fully tax equivalent basis expanded 33 basis points to 3.38%, due to higher asset yields and lower cost of funds. Non-performing loans of $91.6 million or 0.51% of total loans, an improvement from $135.8 million or 0.76% at year-end 2024. Strong balance sheet with robust capital and reserve levels. Quarter-end CET1 ratio of 14.15%(2) and allowance coverage to t

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 2025 results: Earnings Release: Thursday, April 24, 2025 after the market close   Conference Call: Friday, April 25, 2025 at 9:00 AM Eastern Time   Join by Telephone: Toll-Free Dial-In Number: (800) 549-8228 Conference ID: 70523   Webcast: The conference call will be simultaneously webcast. Participants may join the webcast on the Company's Investor Relations website at investor.easternbank.com. A replay of the webca