Eastern Bankshares Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
EBC$23.35+2.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Consolidated Balance Sheets
| (In thousands, except per share data) | September 30, 2024 | December 31, 2023 |
|---|---|---|
| ASSETS | ||
| Cash and due from banks | $98,299 | $87,233 |
| Short-term investments | 791,177 | 605,843 |
| Cash and cash equivalents | 889,476 | 693,076 |
| Securities: | ||
| Available for sale (amortized cost $4,795,399 and $5,161,904, respectively) | 4,163,352 | 4,407,521 |
| Held to maturity (fair value $393,088 and $404,822, respectively) | 427,459 | 449,721 |
| Total securities | 4,590,811 | 4,857,242 |
| Loans held for sale | 1,993 | 1,124 |
| Total loans | 18,064,126 | 13,973,428 |
| Allowance for loan losses | (253,821) | (148,993) |
| Unearned discounts and deferred fees, net | (308,243) | (25,068) |
| Net loans | 17,502,062 | 13,799,367 |
| Federal Home Loan Bank stock, at cost | 5,865 | 5,904 |
| Premises and equipment | 78,776 | 60,133 |
| Bank-owned life insurance | 203,635 | 164,702 |
| Goodwill and other intangibles, net | 1,057,509 | 566,205 |
| Deferred income taxes, net | 319,206 | 266,185 |
| Prepaid expenses | 201,285 | 183,073 |
| Other assets | 656,569 | 536,267 |
| Total assets | $25,507,187 | $21,133,278 |
| LIABILITIES AND EQUITY | ||
| Deposits: | ||
| Demand | $5,856,171 | $5,162,218 |
| Interest checking accounts | 4,562,226 | 3,737,361 |
| Savings accounts | 1,681,093 | 1,323,126 |
| Money market investment | 5,572,277 | 4,664,475 |
| Certificates of deposit | 3,545,087 | 2,709,037 |
| Total deposits | 21,216,854 | 17,596,217 |
| Borrowed funds: | ||
| Escrow deposits of borrowers | 29,405 | 21,978 |
| Interest rate swap collateral funds | 24,070 | 8,500 |
| Federal Home Loan Bank advances | 17,342 | 17,738 |
| Total borrowed funds | 70,817 | 48,216 |
| Other liabilities | 548,378 | 513,990 |
| Total liabilities | 21,836,049 | 18,158,423 |
| Commitments and contingencies (see Note 12) | ||
| Shareholders’ equity | ||
| Common shares, $0.01 par value, 1,000,000,000 shares authorized, 214,802,602 and 176,426,993 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively | 2,150 | 1,767 |
| Additional paid in capital | 2,246,134 | 1,666,441 |
| Unallocated common shares held by the Employee Stock Ownership Plan | (129,077) | (132,755) |
| Retained earnings | 2,048,042 | 2,047,754 |
| Accumulated other comprehensive income, net of tax | (496,111) | (608,352) |
| Total shareholders’ equity | 3,671,138 | 2,974,855 |
| Total liabilities and shareholders’ equity | $25,507,187 | $21,133,278 |
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