Eastern Bankshares, Inc.
For the period ended Dec 31, 2025. Filed Mar 2, 2026.
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FY2025 · Filed Mar 2, 2026
EBC$23.35+2.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| As of December 31, | ||
|---|---|---|
| (In thousands, except per share data) | 2025 | 2024 |
| ASSETS | ||
| Cash and due from banks | $126,103 | $92,590 |
| Short-term investments | 190,766 | 914,290 |
| Cash and cash equivalents | 316,869 | 1,006,880 |
| Securities: | ||
| Available for sale (amortized cost $4,143,163 and $4,778,644, respectively) | 3,825,569 | 4,021,598 |
| Held to maturity (fair value $575,974 and $371,724, respectively) | 599,557 | 420,715 |
| Total securities | 4,425,126 | 4,442,313 |
| Loans held for sale | 22,761 | 372 |
| Total loans | 23,574,496 | 18,079,084 |
| Allowance for loan losses | (331,841) | (228,952) |
| Unearned discounts and deferred fees, net | (489,431) | (300,730) |
| Net loans | 22,753,224 | 17,549,402 |
| Federal Home Loan Bank stock, at cost | 13,838 | 5,865 |
| Premises and equipment | 119,984 | 66,641 |
| Bank-owned life insurance | 307,836 | 204,704 |
| Goodwill and other intangibles, net | 1,300,930 | 1,050,158 |
| Deferred income taxes, net | 309,963 | 332,128 |
| Prepaid expenses | 259,929 | 231,944 |
| Other assets | 756,396 | 667,473 |
| Total assets | $30,586,856 | $25,557,880 |
| LIABILITIES AND EQUITY | ||
| Deposits: | ||
| Demand | $6,341,205 | $5,992,082 |
| Interest checking accounts | 4,727,219 | 4,606,250 |
| Savings accounts | 2,010,028 | 1,648,323 |
| Money market investment | 7,885,707 | 5,736,362 |
| Certificates of deposit | 4,506,592 | 3,336,323 |
| Total deposits | 25,470,751 | 21,319,340 |
| Borrowed funds: | ||
| Interest rate swap collateral funds | 15,321 | 48,590 |
| Federal Home Loan Bank advances | 199,617 | 17,589 |
| Total borrowed funds | 214,938 | 66,179 |
| Other liabilities | 560,614 | 560,394 |
| Total liabilities | 26,246,303 | 21,945,913 |
| Commitments and contingencies (see Note 18) | — | — |
| Shareholders’ equity | ||
| Common shares, $0.01 par value, 1,000,000,000 shares authorized; 235,646,558 and 213,909,472 shares issued and outstanding at December 31, 2025 and 2024, respectively | 2,356 | 2,141 |
| Additional paid in capital | 2,621,029 | 2,237,494 |
| Unallocated common shares held by the Employee Stock Ownership Plan | (122,796) | (127,842) |
| Retained earnings | 2,067,327 | 2,084,503 |
| Accumulated other comprehensive income, net of tax | (227,363) | (584,329) |
| Total shareholders’ equity | 4,340,553 | 3,611,967 |
| Total liabilities and shareholders’ equity | $30,586,856 | $25,557,880 |
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (In thousands, except per share data) | |||
| Interest and dividend income: | |||
| Interest and fees on loans | $1,009,336 | $808,041 | $652,095 |
| Taxable interest and dividends on securities | 131,272 | 90,582 | 101,233 |
| Non-taxable interest and dividends on securities | 8,058 | 5,766 | 5,736 |
| Interest on federal funds sold and other short-term investments | 15,568 | 42,377 | 37,395 |
| Total interest and dividend income | 1,164,234 | 946,766 | 796,459 |
| Interest expense: | |||
| Interest on deposits | 332,404 | 337,403 | 226,081 |
| Interest on borrowings | 3,245 | 1,766 | 19,969 |
| Total interest expense | 335,649 | 339,169 | 246,050 |
| Net interest income | 828,585 | 607,597 | 550,409 |
| Provision for allowance for loan losses | 26,200 | 67,380 | 20,052 |
| Net interest income after provision for allowance for loan losses | 802,385 | 540,217 | 530,357 |
| Noninterest (loss) income: | |||
| Investment advisory fees | 69,921 | 46,126 | 24,264 |
| Service charges on deposit accounts | 35,035 | 32,004 | 28,631 |
| Card income | 18,260 | 16,612 | 15,777 |
| Interest rate swap income | 3,755 | 2,819 | 1,536 |
| Income from investments held in rabbi trusts | 9,963 | 9,675 | 9,305 |
| Mortgage banking income (loss) | 2,877 | (887) | (269) |
| Losses on sales of securities available for sale, net | (269,638) | (16,798) | (333,170) |
| Miscellaneous income and fees | 23,038 | 27,695 | 16,176 |
| Other non-operating income (loss) | 853 | 6,671 | (3) |
| Total noninterest (loss) income | (105,936) | 123,917 | (237,753) |
| Noninterest expense: | |||
| Salaries and employee benefits | 336,040 | 287,626 | 253,032 |
| Occupancy and equipment | 45,553 | 41,932 | 35,990 |
| Technology and data processing | 78,619 | 70,464 | 53,951 |
| Professional services | 14,641 | 12,753 | 13,305 |
| Marketing expenses | 9,626 | 7,754 | 7,592 |
| FDIC insurance | 14,642 | 13,866 | 21,874 |
| Amortization of intangible assets | 34,179 | 14,569 | 1,804 |
| Other operating expenses | 24,486 | 22,740 | 25,559 |
| Non-operating expenses | 39,157 | 36,664 | 5,495 |
| Total noninterest expense | 596,943 | 508,368 | 418,602 |
| Income (loss) before income tax expense (benefit) | 99,506 | 155,766 | (125,998) |
| Income tax expense (benefit) | 11,287 | 36,205 | (63,309) |
| Net income (loss) from continuing operations | $88,219 | $119,561 | $(62,689) |
| Income from discontinued operations, net of taxes | — | — | 294,866 |
| Net income | $88,219 | $119,561 | $232,177 |
| Basic earnings per share | |||
| Basic earnings (loss) per share from continuing operations | $0.43 | $0.66 | $(0.39) |
| Basic earnings per share from discontinued operations | — | — | 1.82 |
| Basic earnings per share | $0.43 | $0.66 | $1.43 |
| Diluted earnings per share: | |||
| Diluted earnings (loss) per share from continuing operations | $0.43 | $0.66 | $(0.39) |
| Diluted earnings per share from discontinued operations | — | — | 1.82 |
| Diluted earnings per share | $0.43 | $0.66 | $1.43 |
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