Eastern Bankshares, Inc.
For the period ended Mar 31, 2025. Filed May 8, 2025.
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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.
Mar 31, 2025 · Filed May 8, 2025
EBC$23.10-1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Consolidated Statements of (Loss) Income
| Three Months Ended March 31, | ||
|---|---|---|
| (In thousands, except per share data) | 2025 | 2024 |
| Interest and dividend income: | ||
| Interest and fees on loans | $228,467 | $169,981 |
| Taxable interest and dividends on securities | 31,160 | 23,373 |
| Non-taxable interest and dividends on securities | 1,442 | 1,437 |
| Interest on federal funds sold and other short-term investments | 4,636 | 7,820 |
| Total interest and dividend income | 265,705 | 202,611 |
| Interest expense: | ||
| Interest on deposits | 75,998 | 72,460 |
| Interest on borrowings | 808 | 251 |
| Total interest expense | 76,806 | 72,711 |
| Net interest income | 188,899 | 129,900 |
| Provision for allowance for loan losses | 6,600 | 7,451 |
| Net interest income after provision for allowance for loan losses | 182,299 | 122,449 |
| Noninterest (loss) income: | ||
| Investment advisory fees | 16,437 | 6,544 |
| Service charges on deposit accounts | 8,315 | 7,508 |
| Card income | 3,920 | 3,926 |
| Interest rate swap income | 488 | 667 |
| (Loss) income from investments held in rabbi trusts | (1,257) | 4,318 |
| Losses on sales of mortgage loans held for sale, net | (133) | (58) |
| Losses on sales of securities available for sale, net | (269,638) | — |
| Other | 5,750 | 4,787 |
| Total noninterest (loss) income | (236,118) | 27,692 |
| Noninterest expense: | ||
| Salaries and employee benefits | 79,859 | 64,471 |
| Occupancy and equipment | 10,617 | 9,184 |
| Technology and data processing | 18,015 | 16,509 |
| Professional services | 2,924 | 3,512 |
| Marketing expenses | 1,732 | 1,515 |
| FDIC insurance | 3,288 | 2,285 |
| Amortization of intangible assets | 7,808 | 504 |
| Other | 5,877 | 3,222 |
| Total noninterest expense | 130,120 | 101,202 |
| (Loss) income before income tax expense | (183,939) | 48,939 |
| Income tax expense | 33,727 | 10,292 |
| Net (loss) income | $(217,666) | $38,647 |
| Basic (loss) earnings per share | $(1.09) | $0.24 |
| Diluted (loss) earnings per share | $(1.08) | $0.24 |
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