Eastern Bankshares, Inc.
For the period ended Mar 31, 2025. Filed May 8, 2025.
View on SEC.govAbout this filing
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.
Mar 31, 2025 · Filed May 8, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Consolidated Statements of Changes in Shareholders’ Equity
Three Months Ended March 31, 2025 and 2024
| Shares of Common Stock Outstanding | Common Stock | Additional Paid in Capital | RetainedEarnings | AccumulatedOtherComprehensiveLoss | Unallocated Common Stock Held by ESOP | Total | |
|---|---|---|---|---|---|---|---|
| (In thousands, except share data) | |||||||
| Balance at December 31, 2023 | 176,426,993 | $1,767 | $1,666,441 | $2,047,754 | $(608,352) | $(132,755) | $2,974,855 |
| Dividends to common shareholders (1) | — | — | — | (18,086) | — | — | (18,086) |
| Issuance of common shares under share-based compensation arrangements (2) | 204,484 | 2 | (1,264) | — | — | — | (1,262) |
| Share-based compensation | — | — | 3,589 | — | — | — | 3,589 |
| Net income | — | — | — | 38,647 | — | — | 38,647 |
| Other comprehensive loss, net of tax | — | — | — | — | (46,522) | — | (46,522) |
| ESOP shares committed to be released | — | — | 367 | — | — | 1,243 | 1,610 |
| Balance at March 31, 2024 | 176,631,477 | $1,769 | $1,669,133 | $2,068,315 | $(654,874) | $(131,512) | $2,952,831 |
| Balance at December 31, 2024 | 213,909,472 | $2,141 | $2,237,494 | $2,084,503 | $(584,329) | $(127,842) | $3,611,967 |
| Dividends to common shareholders (1) | — | — | — | (24,230) | — | — | (24,230) |
| Repurchased common stock | (2,875,530) | (28) | (48,629) | — | — | — | (48,657) |
| Restricted stock awards cancelled (3) | (10,435) | (2) | (137) | — | — | — | (139) |
| Issuance of common shares under share-based compensation arrangements (2) | 536,670 | 5 | (5,841) | — | — | — | (5,836) |
| Share-based compensation | — | — | 4,752 | — | — | — | 4,752 |
| Net loss | — | — | — | (217,666) | — | — | (217,666) |
| Other comprehensive income, net of tax | — | — | — | — | 260,550 | — | 260,550 |
| ESOP shares committed to be released | — | — | 913 | — | — | 1,280 | 2,193 |
| Balance at March 31, 2025 | 211,560,177 | $2,116 | $2,188,552 | $1,842,607 | $(323,779) | $(126,562) | $3,582,934 |
(1)The Company declared quarterly cash dividends of $0.12 and $0.11 per share of common stock during the three months ended March 31, 2025 and 2024, respectively.
(2)Represents shares issued, net of employee tax withheld, upon the vesting of performance and restricted stock units. Refer to Note 9, “Employee Benefits” for additional discussion.
(3)Includes 7,452 restricted stock award shares cancelled upon vesting for employee payroll tax withholding and 2,983 restricted stock award shares cancelled upon forfeiture. Shares withheld relate to awards issued by Cambridge Bancorp to its employees which were converted to awards of the Company upon completion of the Company' merger with Cambridge Bancorp effective July 12, 2024 (“the merger”).
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.