earnings
confidence high
sentiment positive
materiality 0.70
Eastern Bankshares Q2 net income $51.2M ($0.31 EPS); NIM expands 21 bp
Eastern Bankshares, Inc.
2022-Q2 EPS reported
$0.61
revenue$93,915,000
- Operating net income $52.5M ($0.32 diluted EPS), up 42% YoY.
- Net interest income $137.8M (+8% QoQ, +32% YoY); NIM (FTE) 2.63%.
- Loan growth ex-PPP annualized 10.5%; commercial, residential, consumer all double-digit.
- Quarterly dividend $0.10/share payable Sept 15; $81.1M in share repurchases during Q2.
- NPLs rose to $59.9M from $33.8M, driven by one syndicated credit; provision $1.1M.