secwatch.observer — SEC 8-K summary
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Issuer:     Eastern Bankshares, Inc. (EBC)
CIK:        0001810546
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001628280-23-013613
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810546/000162828023013613/0001628280-23-013613-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810546/000162828023013613/ebc-20230427.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-013613

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer