Eastern Bankshares, Inc.

For the period ended Jun 30, 2025. Filed Aug 8, 2025.

About 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.

Jun 30, 2025 · Filed Aug 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.

See the whole filing, with its images and exhibits

Contents

Unaudited Consolidated Statements of Cash Flows

	Six Months Ended June 30,
(In thousands)	2025	2024
Operating activities
Net (loss) income	$(117,433)	$64,978
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Provision for allowance for loan losses	14,200	13,577
Depreciation and amortization	21,408	6,742
(Accretion) amortization of deferred loan fees and premiums, net	(22,976)	5,611
Deferred income tax (benefit) expense	(41,224)	9,890
(Accretion) amortization of investment security premiums and discounts, net	(3,177)	2,271
Right-of-use asset amortization	6,410	5,161
Share-based compensation	8,997	7,831
Increase in cash surrender value of bank-owned life insurance	(2,613)	(2,008)
Gain on life insurance benefits	(337)	—
Loss on sale of securities available for sale, net	269,638	7,557
Employee Stock Ownership Plan expense	4,066	3,175
Other	301	329
Change in:
Loans held for sale	7,964	(151)
Prepaid pension expense	(2,644)	(889)
Other assets	86,493	(3,864)
Other liabilities	(57,875)	(33,360)
Net cash provided by operating activities	171,198	86,850
Investing activities
Proceeds from sales of securities available for sale	1,339,345	85,220
Proceeds from maturities and principal paydowns of securities available for sale	219,518	173,584
Purchases of securities available for sale	(1,330,852)	—
Proceeds from maturities and principal paydowns of securities held to maturity	12,455	13,225
Purchases of securities held to maturity	(84,737)	—
Proceeds from sale of Federal Home Loan Bank stock	20,971	3,638
Purchases of Federal Home Loan Bank stock	(21,360)	(3,613)
Contributions to low income housing tax credit investments	(23,053)	(27,261)
Contributions to other equity investments	(743)	(180)
Distributions from other equity investments	709	167
Net increase in outstanding loans	(531,945)	(173,594)
Purchased banking premises and equipment	(6,369)	(6,512)
Proceeds from life insurance policies	327	—
Net cash (used in) provided by investing activities	(405,734)	64,674
Financing activities
Net decrease in demand, savings, interest checking, and money market investment deposit accounts	(9,980)	(294,345)
Net (decrease) increase in time deposits	(88,580)	234,114
Net (decrease) increase in borrowed funds	(17,991)	2,547
Payments for repurchase of common stock	(51,929)	—
Dividends declared and paid to common shareholders	(50,358)	(36,068)
Net cash used in financing activities	(218,838)	(93,752)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(453,374)	57,772
Cash, cash equivalents, and restricted cash at beginning of period	1,006,880	693,076
Cash, cash equivalents, and restricted cash at end of period	$553,506	$750,848

Supplemental disclosure of cash flow information
Cash paid (received) during the period for:
Interest paid on deposits and borrowings	$155,976	$150,565
Income taxes, net of refunds	(675)	19,571
Non-cash activities
Capital commitments relating to low income housing tax credit projects	$—	$8,963
Net increase in operating lease right-of-use assets and operating lease liabilities relating to lease remeasurements/modifications	2,192	2,717

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.