Eastern Bankshares, Inc. · NASDAQ:EBC
Eastern Bankshares — Q3 2025 Earnings Presentation
19 slides from Eastern Bankshares's earnings presentation, Oct 23, 2025
Slide 1: Q3 Earnings Presentation
Q3 Earnings Presentation October 23, 2025
Slide 2: Five years as a public company
Five years as a public company Q3'25 Pending HarborOne assets / market share Eastern today Performance Summary Since 2020 IPO EBC Boston, MA Concord ME Scale Deposit market share Wealth franchise Nasdaq Headquarters Assets ($bn) Boston MSA market share¹ AUM ($bn) Manchester +95% ~2X +241% 1818 2020
Slide 3: Q3 2025 financial highlights
Q3 2025 financial highlights Key Metrics Highlights $106.1 million • Announced authorization of 5% share repurchase plan Net income • Net income of $106.1 million, or $0.53 per diluted share, included a GAAP tax benefit $74.1 million related to losses from the investment portfolio repositioning comp
Slide 4: Income statement
Income statement $ in millions, except per share amounts Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 • Net income included a GAAP tax Net interest income $ 200.2 $ 202.0 $ 188.9 $ 179.2 $ 169.9 benefit related to losses from the Noninterest income (loss) 41.3 42.9 (236.1) 37.3 33.5 investment portfolio
Slide 5: Financial metrics
Financial metrics Operating EPS Operating efficiency ratio1 $0.41 $0.37 59.7% $0.34 $0.34 57.3% 0.26 53.7% 52.8% 50.8% Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Operating ROA Operating ROATCE1 1.30% 13.6% 1.16% 11.7% 11.7% 1.06% 1.09% 11.3% 8.7% 0.82% Q3 2024 Q4
Slide 6: Net interest margin
Net interest margin Earning assets QoQ changes in FTE net interest income* $206.8 $3.3 $0.7 $0.2 $205.4 Q3 2025 Q2 2025 Change 3.59% Avg. Balance Yield1 Avg. Balance Yield1 Avg. Balance Yield1 $(5.7) 3.47% Commercial loans $ 12,858 5.45 % $ 12,533 5.59 % $ 325 (0.14)% Residential loans 3,893 4.41 %
Slide 7: Noninterest income
Noninterest income • Noninterest income decreased $1.6 million linked quarter Q3 2025 Q2 2025 Q3 2024 QoQ YoY • Non-operating income increased Investment advisory fees $ 17.6 $ 17.3 $ 14.9 $ 0.3 $ 2.6 $0.9 million from Q2 2025 Service charges on deposit accounts 8.6 8.2 8.1 0.3 0.4 • Operating nonin
Slide 8: Wealth management
Wealth management Assets under management (AUM) $9,233 $8,718 • AUM increased to a record high of $9.2 billion $8,353 $8,442 $8,309 • Fees increased $0.3 million or 2% from Q2 2025 • AUM fees as a percentage of AUM: 75 bps Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Fees AUM asset allocation $18.0 $17.3
Slide 9: Noninterest expense
Noninterest expense $159.8 $132.2 $137.5 $134.0 $130.1 $130.1 $137.0 $134.4 $140.4 $137.2 • Noninterest expense increased $3.5 million linked quarter • Merger costs increased $0.6 million Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 from Q2 2025 Noninterest expense Operating noninterest expense Q3 2025 Q
Slide 10: Deposits
Deposits • Period-end deposits decreased less than 1% linked-quarter, Period-end deposit balances driven primarily by lower checking balances, partially offset by $21.2 $21.3 $20.8 $21.2 $21.1 an increase in money market and CD balances. Average balances increased 1.4% • Deposit costs increased 7 ba
Slide 11: Loan portfolio
Loan portfolio Loan trends Commercial loan composition $18,064 $18,079 $18,204 $18,590 $18,829 $1,634 $1,657 $1,665 $1,723 $1,767 $4,081 $4,064 $4,039 $4,016 $4,011 11% $12,501 $12,850 $13,051 4% $12,350 $12,359 29% Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Total commercial Residential real estate Tot
Slide 12: Securities portfolio
Securities portfolio Portfolio trends1 Investment composition as of September 30, 20251 $5.2 $5.2 $4.9 $4.8 $4.7 1% $0.4 $0.4 1% 6% $0.4 $0.5 $0.5 $4.8 $4.8 $4.4 $4.3 $4.2 29% 63% Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 AFS securities HTM securities • High quality portfolio with 93% in US Agency sec
Slide 13: Capital
Capital1 Capital ratios Capital metrics 9/30/2025 6/30/2025 9/30/2024 • Continue to generate capital - capital Tier 1 leverage ratio 12.3% 12.1% 12.6% ratios increased linked quarter. CET1 ratio and TCE ratio of 14.7% and 11.4%, Common equity tier 1 ("CET1") capital ratio 14.7% 14.4% 15.5% respectiv
Slide 14: Asset quality
Asset quality Non-performing loans • Non-performing loans of $69 million, or 0.37% of 0.70% 0.76% 0.51% total loans, increased $14 million linked quarter 0.30% 0.37% • Commercial: $51 million $136 • Residential: $11 million $125 $92 $55 $69 • Consumer: $7 million • Allowance for loan losses: $233 mi
Slide 15: CRE exposure
CRE exposure1 Composition % of total Avg. loan % in MA/ • CRE portfolio of $7.4 billion, or 39% of total loans Balance CRE balance NH NPL% Multi-family $ 2,680 36 % $ 4.8 88 % — % • Non-owner occupied CRE to total risk-based capital ratio2 of 207% Retail 942 13 % 3.1 88 % 1.0 % Office 937 13 % 3.6 9
Slide 16: CRE investor office exposure
CRE investor office exposure1 Maturity schedule 4Q25 1Q26 2Q26 3Q26 • CRE investor office loans: $813 million, or 4% of Accruing $ 10 $ 31 $ 20 $ 7 total loans Non-accruing — 19 — — • Includes company's lab/life science Total $ 10 $ 50 $ 20 $ 7 exposure: $99 million or <1% of total loans. All loans
Slide 17: Non-GAAP financial measures (1)
Non-GAAP financial measures (1) *Denotes a non-GAAP financial measure used in the document. In this presentation, the Company may refer to some non-GAAP financial measures. For a reconciliation of these measures to the most comparable GAAP measures, refer to the press release that the Company has ma
Slide 18: Non-GAAP financial measures (2)
Non-GAAP financial measures (2) Management also presents tangible assets, tangible shareholders’ equity, average tangible shareholders’ equity, tangible book value per share, the ratio of tangible shareholders’ equity to tangible assets, return on average tangible shareholders’ equity, and operating
Slide 19: Forward-looking statements
Forward-looking statements This document contains “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding anticipated future e