Eastern Bankshares, Inc. Reports Third Quarter 2024 Financial Results [Yahoo! Finance]
Eastern Bankshares, Inc. (EBC)
Company Research
Source: Yahoo! Finance
BOSTON, October 24, 2024 BUSINESS WIRE )--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 merger of 0.18%. Trust and investment advisory fees increased $8.2 million, or 122%, from the prior quarter to $14.9 million, due primarily to increased assets under management ("AUM") as a result of the merger. Book value per share and tangible book value per share ended the quarter at $17.09 and $12.17, respect
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News
- Eastern Bank Named #1 SBA Lender in Massachusetts for the 16th Year in a Row [Yahoo! Finance]Yahoo! Finance
- Eastern Bank Named #1 SBA Lender in Massachusetts for the 16th Year in a RowBusiness Wire
- Wolters Kluwer names Eastern Bank the winner of 2024 Community Impact Award [Yahoo! Finance]Yahoo! Finance
- Wolters Kluwer names Eastern Bank the winner of 2024 Community Impact AwardBusiness Wire
- Eastern Bank Names Kimberly Dee Executive Vice President, Consumer Banking DirectorBusiness Wire
EBC
Earnings
- 10/24/24 - Miss
EBC
Sec Filings
- 11/14/24 - Form SC
- 11/14/24 - Form SC
- 11/12/24 - Form 8-K
- EBC's page on the SEC website