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

~ Company Announces 2025 Investment Portfolio Repositioning ~ Operating net income* of $68.3 million, or $0.34 per diluted share. $1.2 billion investment portfolio repositioning in Q1 2025 anticipated to add approximately $0.13 to 2025 operating EPS. Net interest margin on a fully tax equivalent basis* expanded 8 basis points to 3.05%, primarily due to lower cost of funds. Annualized net charge-offs of 0.71% of average total loans primarily driven by purchased credit deteriorated loans acquired from Cambridge Trust. Strong balance sheet with robust capital and reserve levels. Year-end CET1 ratio of 15.73%(1) and allowance coverage of total loans of 1.29%. Eastern Bankshare

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 fourth quarter 2024 results: Earnings Release: Thursday, January 23, 2025 after the market close     Conference Call: Friday, January 24, 2025 at 9:00 AM Eastern Time     Join by Telephone: Toll-Free Dial-In Number: (800) 549-8228 Conference ID: 65981   Webcast: The conference call will be simultaneously webcast. Participants may join the webcast on the Company's Inve

~ Company Announces a 9% Increase to Quarterly Dividend ~ Eastern Bankshares, Inc. (the "Company") (NASDAQ:EBC), the holding company of Eastern Bank, today announced its 2024 third quarter financial results. FINANCIAL HIGHLIGHTS Net loss of $6.2 million included the initial provision on non-purchased credit deteriorated ("non-PCD") loans of $40.9 million and merger-related charges of $30.5 million. Operating net income of $49.7 million, or 0.25 per diluted share. Merger EPS accretion and cost saves on track to exceed original estimates. Net interest margin on a fully tax equivalent ("FTE") basis of 2.97%, an increase of 0.33%, including net discount accretion from the Cambridge merg

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 third quarter 2024 results: Earnings Release: Thursday, October 24, 2024 after the market close   Conference Call: Friday, October 25, 2024 at 9:00 AM Eastern Time   Join by Telephone: Toll-Free Dial-In Number: (800) 549-8228 Conference ID: 35193   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

~ Company Announces Authorization of Share Repurchase Program ~ Eastern Bankshares, Inc. (the "Company," or together with its subsidiaries, "Eastern") (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2024 second quarter financial results, the declaration of a quarterly cash dividend, and the authorization of a share repurchase program. On July 12, 2024, the Company completed its merger ("the merger") with Cambridge Bancorp ("Cambridge") and surpassed $25 billion in assets. The merger also added approximately $4.8 billion in assets under management and administration ("AUM/A"), 11 net new branch locations, and 4 net new wealth management

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 second quarter 2024 results: Earnings Release: Thursday, July 25, 2024 after the market close     Conference Call: Friday, July 26, 2024 at 9:00 AM Eastern Time     Join by Telephone: Toll-Free Dial-In Number: (800) 549-8228 Conference ID: 26729     Webcast: The conference call will be simultaneously webcast. Participants may join the webcast o

~ Receipt of Shareholder Approvals for the Merger with Cambridge ~ ~ CFO James Fitzgerald Announces Upcoming Retirement ~ Eastern Bankshares, Inc. (the "Company," or together with its subsidiaries, "Eastern") (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2024 first quarter financial results and the declaration of a quarterly cash dividend. On February 28, 2024, the Company and Cambridge Bancorp ("Cambridge") each received shareholder approval for the previously announced all-stock merger of Cambridge with and into Eastern ("the merger"). The merger is anticipated to close early in the third quarter of 2024, subject to receipt of regul

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

Eastern Bankshares, Inc. ("Eastern") (NASDAQ Global Select Market: EBC), the stock holding company for Eastern Bank, announced today the appointment of four members of Cambridge Bancorp's (NASDAQ:CATC) ("Cambridge") Board of Directors to the Eastern and Eastern Bank Boards of Directors (together, the "Eastern Boards of Directors" or the "Eastern Boards") effective upon the closing of the companies' pending Merger (the "Merger"). As previously announced on September 19, 2023, upon closing of the Merger, Denis Sheahan, Chairman, President and CEO of Cambridge, will become the CEO of Eastern and will join the Eastern Boards of Directors, and three Cambridge directors will be appointed to the

New Directors Bring Extensive Banking, Risk Management and Audit Experience Eastern Bankshares, Inc. (the "Company") (Nasdaq Global Select Market: EBC), the stock holding company for Eastern Bank, announced today the appointment of Marisa J. Harney and Linda M. Williams to its Board of Directors effective immediately. They have also each been appointed to the Audit and Risk Management Committees of the Board effective January 1, 2024. They will also serve on the Board of Directors of the Company's banking subsidiary, Eastern Bank. "We are extremely pleased to welcome Marisa Harney and Linda Williams to our Board," said Bob Rivers, Chief Executive Officer and Chair of the Board of Easter