EBC
Eastern Bankshares, Inc.19.14
-0.34-1.75%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Reinforces organic focus, adds pipeline details
Q&A reinforced the no-M&A pivot, with Denis flatly stating Eastern's full focus on organic growth and buybacks to trim CET1 toward 12%. Pipelines mix ~50% CRE/community development and 45% C&I, solid but with Q1 seasonality slowdown. Wealth notched $200 million Q4 net flows from bank referrals. Management dismissed credit worries, detailing HarborOne NPL resolutions in H1 sans bulk sales. Margin holds flat near-term before ramping on assumed June/September cuts. No surprises—just granular color on execution. Investors watch loan ramps and NPL workouts.
Key Stats
Market Cap
4.31BP/E (TTM)
73.62Basic EPS (TTM)
0.26Dividend Yield
0.03%Recent Filings
10-K
FY2025 results
Eastern Bankshares closed FY2025 ended December 31, 2025 with $30.6B assets, $23.6B gross loans up 30% y/y from HarborOne merger adding $4.5B loans, while organic growth added $1.0B or 5.6%. Deposits hit $25.5B up 19% y/y, boosted by $4.3B acquired but down 0.9% organically amid outflows. Net interest income surged 36% to $829M with NIM expanding 67bps to 3.51% on higher loan yields and lower deposit costs, yet GAAP net income fell to $88M from $120M on $270M securities sale losses (derived). Q4 HarborOne integration drove momentum with $550M deal value, $202M goodwill, and $83M core deposit intangible; liquidity strong at $7.3B covering 90% uninsured deposits. Activist pressure risks quarterly focus.
8-K
Q4 earnings with HarborOne boost
Eastern Bankshares posted Q4 net income of $99.5M ($0.46/share), boosted by HarborOne merger closed November 1 adding $4.5B loans and $4.3B deposits, yet organic loan growth hit $255M from commercial strength. Operating net income rose 28% to $94.7M; repurchased 3.1M shares for $55.4M. Board approved $0.13/share dividend payable March 20. NPLs climbed to 0.75%. Merger integration advances.
10-Q
Q3 FY2025 results
Eastern Bankshares swung to Q3 net income of $106.1M ($0.53 diluted EPS), reversing a $6.2M loss y/y, as net interest income climbed 17.9% to $200.2M with margin expanding 50bps to 3.47% (derived). Provision plunged 84.9% to $7.1M amid nonaccrual sales; noninterest income rose 23% on advisory fees, though YTD reflects $269.6M securities losses. Loans grew 4.1% to $18.8B, deposits dipped 0.9%; cash fell to $410M but FHLB/FRB capacity tops $5.8B. Cambridge merger closed July 2024 with 38.8M shares issued (~$577M stock). Office CRE weighs on asset quality.
8-K
HarborOne acquisition closes
Eastern Bankshares completed its acquisition of HarborOne Bancorp on November 1, 2025, issuing 41,430,788 shares under the April merger agreement. Proration hit 84.99% stock at 0.765 Eastern shares or $12 cash, funded by cash on hand including a $125M bank dividend. HarborOne Mortgage runs until February 2026 merger. Integration risks loom.
8-K
HarborOne merger closes
Eastern Bankshares closed its acquisition of HarborOne Bancorp on October 28, 2025, with the merger effective November 1. HarborOne stock delists October 31; Eastern adds CEO Joseph F. Casey and Chairman Michael J. Sullivan to its boards at effective time. Election results due by November 3. Integration risks loom large.
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