Business
Eastern Bankshares, Inc. Reports First Quarter 2026 Financial Results
Announces 15% Increase to Quarterly Dividend Net income of $65.3 million, or $0.29 per diluted share, included non-operating merger-related costs; operating
About this update from Eastern Bankshares, Inc.
[{"type":"text","content":"\nAnnounces 15% Increase to Quarterly Dividend \n\n\n\nNet income of $65.3 million, or $0.29 per diluted share, included non-operating merger-related costs; operating net income of $88.6 million, or $0.40 per diluted share.\n\n\n\nReturn on average assets of 0.86%, or 1.17% on an operating basis; return on average tangible common equity of 9.8%, or 12.8% on an operating basis.\n\n\n\nNet interest margin on fully tax equivalent basis expanded 2 basis points to 3.63%, primarily due to lower cost of funds.\n\n\n\nWealth assets increased to a record high of $10.3 billion, including $9.8 billion of assets under management, and benefited from positive net flows.\n\n\n\nRepurchased 3.9 million shares of common stock for $75.1 million. As of March 31, 2026, 59% of the current authorization is complete.\n\n\n\nNon-performing loans of $137.7 million, or 0.60% of total loans, an improvement from $172.3 million, or 0.75% of total loans at year-end. Provision for loan losses of $5.8 million, compared to $4.9 million in prior quarter.\n\n\n\n BOSTON--(BUSINESS WIRE)--\nEastern Bankshares, Inc. (the “Company”) (NASDAQ: EBC), the holding company of Eastern Bank, today announced its first quarter 2026 financial results.\n\n\nFINANCIAL HIGHLIGHTS\n\n\n\n\n \n\n\n\n\n\n\nAs of and for three months ended\n\n\n\n\n\n\n \n\n\n\n\n\n\nLinked quarter Change\n\n\n\n\n\n\n\n\n(Unaudited, $in millions, except per share data)\n\n\n\n\n\n\nMar 31, 2026\n\n\n\n\n\n\nDec 31, 2025\n\n\n\n\n\n\n \n\n\n\n\n\n\n△ $\n\n\n\n\n\n\n△%\n\n\n\n\n\n\n\n\nEarnings\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n65.3\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n99.5\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n(34.2\n\n\n\n\n\n\n)\n\n\n\n\n\n\n(34.4\n\n\n\n\n\n\n)%\n\n\n\n\n\n\n\n\nPer share, diluted\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.29\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.46\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n(0.17\n\n\n\n\n\n\n)\n\n\n\n\n\n\n(37.0\n\n\n\n\n\n\n)%\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nOperating net income*\n\n\n\n\n\n\n$\n\n\n\n\n\n\n88.6\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n94.7\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n(6.1\n\n\n\n\n\n\n)\n...