Eastern Bankshares, Inc.

For the period ended Mar 31, 2026. Filed May 8, 2026.

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.

Mar 31, 2026 · Filed May 8, 2026

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

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Contents

Unaudited Consolidated Statements of Cash Flows

	Three Months Ended March 31,
	2026	2025
Operating activities · (In thousands)
Net income (loss)	$65,262	$(217,666)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Provision for allowance for loan losses	5,756	6,600
Depreciation and amortization	15,593	10,489
Accretion of deferred loan fees and premiums, net	(14,867)	(9,552)
Deferred income tax expense (benefit)	7,367	(64,905)
Accretion of investment security premiums and discounts, net	(1,913)	(1,182)
Right-of-use asset amortization	3,390	3,193
Share-based compensation	4,158	4,752
Increase in cash surrender value of bank-owned life insurance	(1,880)	(1,383)
Loss on sale of securities available for sale, net	—	269,638
Loss on right-of-use assets, net of gains from modifications	2,949	—
Employee Stock Ownership Plan expense	2,610	2,193
Other	(2,880)	286
Loans held for sale:
Proceeds from sales of loans held for sale	101,126	13,000
Loans originated for sale, net of repayments	(101,595)	(13,235)
Change in:
Prepaid pension benefit	(1,920)	(1,336)
Other assets	(30,654)	64,276
Other liabilities	(61,975)	(17,847)
Net cash (used in) provided by operating activities	(9,473)	47,321
Investing activities
Proceeds from sales of securities available for sale	—	1,339,345
Proceeds from maturities and principal paydowns of securities available for sale	111,438	83,693
Purchases of securities available for sale	(167,861)	(1,330,852)
Proceeds from maturities and principal paydowns of securities held to maturity	7,204	5,621
Purchases of securities held to maturity	(94,247)	(18,000)
Proceeds from sale of Federal Home Loan Bank stock	38,378	9,352
Purchases of Federal Home Loan Bank stock	(63,341)	(12,711)
Contributions to low income housing tax credit investments	(9,372)	(9,227)
Contributions to other equity investments	(437)	(743)
Distributions from other equity investments	101	125
Net decrease (increase) in outstanding loans	167,848	(146,144)
Purchases of banking premises and equipment	(3,054)	(1,801)
Proceeds from life insurance policies	487	—
Net cash used in investing activities	(12,856)	(81,342)
Financing activities
Net decrease in demand, savings, interest checking, and money market investment deposit accounts	(3,181)	(376,826)
Net decrease in time deposits	(362,321)	(145,412)
Net increase (decrease) in borrowed funds	502,270	(11,270)
Payments for repurchase of common stock	(73,354)	(46,456)
Proceeds from the exercise of stock options	2,421	—
Dividends declared and paid to common shareholders	(28,812)	(24,092)
Net cash provided by (used in) financing activities	37,023	(604,056)
Net increase (decrease) in cash, cash equivalents, and restricted cash	14,694	(638,077)
Cash, cash equivalents, and restricted cash at beginning of period	316,869	1,006,880
Cash, cash equivalents, and restricted cash at end of period	$331,563	$368,803

Supplemental disclosure of cash flow information
Cash paid during the period for:
Interest paid on deposits and borrowings	$111,627	$68,784
Income taxes paid	1,070	1,000
Non-cash activities
Net increase in operating lease right-of-use assets and operating lease liabilities relating to lease remeasurements/modifications	2,464	1,661

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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.