---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-013613"
form_type: "8-K"
ticker: "EBC"
cik: "0001810546"
company_name: "Eastern Bankshares, Inc."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T09:18:02.993330+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Eastern Bankshares Q1 net loss $194.1M on $280M AFS sale loss; operating EPS $0.38

## Summary
- GAAP net loss $194.1M ($1.20/diluted share) vs. Q4 2022 net income $42.3M ($0.26).
- Operating net income (non-GAAP) record $61.1M ($0.38/diluted), up from $49.9M Q4.
- Sold $1.9B lower-yielding AFS securities taking $280M after-tax loss to boost liquidity.
- Liquidity $7.1B covers 107% of uninsured/uncollateralized deposits ($6.7B).
- Quarterly dividend $0.10/share payable June 15, record June 2; no share repurchases in Q1.

## SEC filing metadata
- accession: 0001628280-23-013613
- form_type: 8-K
- ticker: EBC
- cik: 0001810546
- company_name: Eastern Bankshares, Inc.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1810546/000162828023013613/0001628280-23-013613-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1810546/000162828023013613/ebc-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-013613
- JSON: https://secwatch.observer/filing/0001628280-23-013613.json
- Plain text: https://secwatch.observer/filing/0001628280-23-013613.txt

## Key facts
- Earnings Releases
  Eastern Bankshares, Inc. reported first quarter of 2023 results: net income Net loss of $194.1 million, EPS $1.20 per diluted share.
  - Period: first quarter of 2023
  - Net income: Net loss of $194.1 million
  - EPS: $1.20 per diluted share
  - Result: reported results
  source text: On April 27, 2023, Eastern Bankshares, Inc., a Massachusetts corporation (the “Company”) and the stock holding company for Eastern Bank, issued a press release in which it announced its earnings for the quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810546/000162828023013613/0001628280-23-013613-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.