secwatch.observer — SEC 8-K summary
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Issuer:     Eastern Bankshares, Inc. (EBC)
CIK:        0001810546
Form:       8-K
Filed at:   2022-12-06T23:59:59+00:00
Accession:  0001628280-22-031446
Event type: other_material
Sentiment:  negative
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810546/000162828022031446/0001628280-22-031446-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810546/000162828022031446/ebc-20221206.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-031446

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