Eastern Bankshares, Inc.

For the period ended Sep 30, 2025. Filed Nov 6, 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.

Sep 30, 2025 · Filed Nov 6, 2025

EBC$23.10-1.1%Stored close · as of Nov 10, 2026

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Contents

Unaudited Consolidated Statements of Cash Flows

	Nine Months Ended September 30,
(In thousands)	2025	2024
Operating activities
Net (loss) income	$(11,289)	$58,790
Adjustments to reconcile net (loss) income to net cash provided by operating activities
Provision for allowance for loan losses	21,300	60,560
Depreciation and amortization	32,237	17,011
Accretion of deferred loan fees and premiums, net	(29,864)	(3,545)
Deferred income tax (benefit) expense	(26,376)	19,013
(Accretion) amortization of investment security premiums and discounts, net	(5,211)	3,421
Right-of-use asset amortization	9,628	8,183
Share-based compensation	12,985	13,576
Increase in cash surrender value of bank-owned life insurance	(3,867)	(3,257)
Loss on sale of securities available for sale, net	269,638	7,557
Net loss on bank premises and equipment	—	3,222
Impairment of right-of-use asset	—	2,733
Employee Stock Ownership Plan expense	6,143	5,256
Other	318	(21)
Change in:
Loans held for sale	7,251	(848)
Prepaid pension expense	(3,952)	840
Other assets	97,166	(4,722)
Other liabilities	(47,769)	7,348
Net cash provided by operating activities	328,338	195,117
Investing activities
Proceeds from sales of securities available for sale	1,339,345	955,305
Proceeds from maturities and principal paydowns of securities available for sale	350,110	282,910
Purchases of securities available for sale	(1,330,852)	—
Proceeds from maturities and principal paydowns of securities held to maturity	19,737	22,595
Purchases of securities held to maturity	(112,873)	—
Proceeds from sale of Federal Home Loan Bank stock	24,625	30,906
Purchases of Federal Home Loan Bank stock	(25,012)	(3,612)
Contributions to low income housing tax credit investments	(40,915)	(49,813)
Contributions to other equity investments	(1,459)	(1,005)
Distributions from other equity investments	5,054	264
Net increase in outstanding loans	(782,248)	(164,940)
Net cash acquired in business combinations	—	24,879
Purchased banking premises and equipment	(15,152)	(8,241)
Proceeds from life insurance policies	1,347	—
Net cash (used in) provided by investing activities	(568,293)	1,089,248
Financing activities
Net decrease in demand, savings, interest checking, and money market investment deposit accounts	(230,483)	(666,565)
Net increase in time deposits	28,491	417,279
Net decrease in borrowed funds	(26,356)	(766,826)
Payments for repurchase of common stock	(51,929)	(12,628)
Stock issuance costs	—	(941)
Dividends declared and paid to common shareholders	(76,238)	(58,284)
Net cash used in financing activities	(356,515)	(1,087,965)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(596,470)	196,400
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	$410,410	$889,476

Supplemental disclosure of cash flow information
Cash paid during the period for:
Interest paid on deposits and borrowings	$230,408	$234,721
Income taxes (refunded) paid	(1,556)	19,268
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	2,360	3,243

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