Eastern Bankshares, Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 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.
Sep 30, 2025 · Filed Nov 6, 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 September 30, 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 June 30, 2024 | 176,687,829 | $1,770 | $1,673,722 | $2,076,566 | $(654,290) | $(130,295) | $2,967,473 |
| Dividends to common shareholders (1) | — | — | — | (22,336) | — | — | (22,336) |
| Repurchased common stock | (836,399) | (8) | (12,620) | (12,628) | |||
| Restricted share awards cancelled (2) | (17,379) | (2) | (214) | — | — | — | (216) |
| Issuance of common shares under share-based compensation arrangements (3) | 80,296 | 1 | (619) | — | — | — | (618) |
| Share-based compensation | — | — | 5,745 | — | — | — | 5,745 |
| Net loss | — | — | — | (6,188) | — | — | (6,188) |
| Other comprehensive income, net of tax | — | — | — | — | 158,179 | — | 158,179 |
| ESOP shares committed to be released | — | — | 863 | — | — | 1,218 | 2,081 |
| Merger consideration: | |||||||
| Common stock issued for merger | 38,769,562 | 388 | 576,116 | — | — | — | 576,504 |
| Stock issuance costs | — | — | (941) | — | — | — | (941) |
| Cambridge Bancorp restricted share awards converted to restricted share awards of the Company at fair value (4) | 118,693 | 1 | 1,052 | — | — | — | 1,053 |
| Pre-merger service credit for restricted share units (5) | — | — | 3,030 | — | — | — | 3,030 |
| Balance at September 30, 2024 | 214,802,602 | $2,150 | $2,246,134 | $2,048,042 | $(496,111) | $(129,077) | $3,671,138 |
| Balance at June 30, 2025 | 211,463,296 | $2,115 | $2,189,727 | $1,916,876 | $(299,527) | $(125,300) | $3,683,891 |
| Dividends to common shareholders (1) | — | — | — | (26,013) | — | — | (26,013) |
| Restricted share awards cancelled (2) | (694) | (1) | (11) | — | — | — | (12) |
| Issuance of common shares under share-based compensation arrangements (3) | 53,503 | 1 | (576) | — | — | — | (575) |
| Share-based compensation | — | — | 3,988 | — | — | — | 3,988 |
| Net income | — | — | — | 106,144 | — | — | 106,144 |
| Other comprehensive income, net of tax | — | — | — | — | 36,025 | — | 36,025 |
| ESOP shares committed to be released | — | — | 816 | — | — | 1,261 | 2,077 |
| Balance at September 30, 2025 | 211,516,105 | $2,115 | $2,193,944 | $1,997,007 | $(263,502) | $(124,039) | $3,805,525 |
(1)The Company declared quarterly cash dividends of $0.13 and $0.11 per share of common stock during the three months ended September 30, 2025 and 2024, respectively.
(2)Represents restricted stock awards (“RSAs”) cancelled upon vesting for employee payroll tax withholding and upon forfeiture.
(3)Represents shares issued, net of employee tax withheld, upon the vesting of restricted stock units. Refer to Note 9, “Employee Benefits” for additional discussion.
(4)The Company issued 118,693 restricted stock award shares with a fair value of $1.1 million as part of the purchase consideration for the merger with Cambridge Bancorp (“Cambridge”).
(5)Represents credit for service for former employees of Cambridge retained following the merger related to restricted share unit awards converted to Company restricted share units at the merger date of July 12, 2024.
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
Nine Months Ended September 30, 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) | — | — | — | (58,502) | — | — | (58,502) |
| Issuance of restricted stock awards | 56,352 | 1 | (1) | — | — | — | — |
| Repurchased common stock | (836,399) | (8) | (12,620) | — | — | — | (12,628) |
| Restricted stock awards cancelled (2) | (17,379) | (2) | (214) | — | — | — | (216) |
| Issuance of common stock under share-based compensation arrangements (3) | 284,780 | 3 | (1,883) | — | — | — | (1,880) |
| Share-based compensation | — | — | 13,576 | — | — | — | 13,576 |
| Net income | — | — | — | 58,790 | — | — | 58,790 |
| Other comprehensive income, net of tax | — | — | — | — | 112,241 | — | 112,241 |
| ESOP shares committed to be released | — | — | 1,578 | — | — | 3,678 | 5,256 |
| Balance at Merger consideration | |||||||
| Common stock issued for merger | 38,769,562 | 388 | 576,116 | — | — | — | 576,504 |
| Stock issuance costs | — | — | (941) | — | — | — | (941) |
| Cambridge Bancorp restricted share awards converted to restricted share awards of the Company at fair value (4) | 118,693 | 1 | 1,052 | — | — | — | 1,053 |
| Pre-merger service credit for restricted share units (5) | — | — | 3,030 | — | — | — | 3,030 |
| Balance at September 30, 2024 | 214,802,602 | $2,150 | $2,246,134 | $2,048,042 | $(496,111) | $(129,077) | $3,671,138 |
| 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) | — | — | — | (76,207) | — | — | (76,207) |
| Issuance of restricted stock awards | 54,236 | 1 | (1) | — | — | — | — |
| Repurchased common stock | (3,058,583) | (30) | (51,899) | — | — | — | (51,929) |
| Restricted stock awards cancelled (2) | (11,648) | (3) | (156) | — | — | — | (159) |
| Issuance of common stock under share-based compensation arrangements (3) | 622,628 | 6 | (6,819) | — | — | — | (6,813) |
| Share-based compensation | — | — | 12,985 | — | — | — | 12,985 |
| Net loss | — | — | — | (11,289) | — | — | (11,289) |
| Other comprehensive income, net of tax | — | — | — | — | 320,827 | — | 320,827 |
| ESOP shares committed to be released | — | — | 2,340 | — | — | 3,803 | 6,143 |
| Balance at September 30, 2025 | 211,516,105 | $2,115 | $2,193,944 | $1,997,007 | $(263,502) | $(124,039) | $3,805,525 |
(1)The Company declared cumulative cash dividends of $0.38 and $0.33 per share of common stock during the nine months ended September 30, 2025 and 2024, respectively.
(2)Represents restricted stock awards (“RSAs”) cancelled upon vesting for employee payroll tax withholding and upon forfeiture.
(3)Represents shares issued, net of employee tax withheld, upon the vesting of restricted stock units. Refer to Note 9, “Employee Benefits” for additional discussion.
(4)The Company issued 118,693 restricted stock award shares with a fair value of $1.1 million as part of the purchase consideration for the merger with Cambridge.
(5)Represents credit for service for former employees of Cambridge retained following the merger related to restricted share unit awards converted to Company restricted share units at the merger date of July 12, 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.