Eastern Bankshares estimates $11.6M non-cash pension settlement charge for Q4

Eastern Bankshares, Inc.

Preliminary non-cash settlement charge of $11.6M related to defined benefit plan lump sums exceeding threshold.
Charge to be recognized in earnings for quarter ending Dec 31, 2022; final amount determined after year-end remeasurement.
Previous estimate on Nov 4, 2022 was a loss range of $10M-$15M; preliminary estimate narrowed to $11.6M.
Charge arises from accounting requirement under ASC Subtopic 715-20 for probable threshold breach.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.