Eastern Bankshares Q2 net income $48.7M, NIM expands 14 bps to 2.80%

Eastern Bankshares, Inc.

2023-Q2 EPS reported -$0.90 revenue$96,605,000

Net income $48.7M ($0.30 diluted EPS) vs prior-quarter net loss of $194.1M ($1.20 loss) from repositioning.
Total revenue $195.4M; operating revenue $196.3M, up $1.5M from prior quarter.
Net interest margin (FTE) expanded 14 bps to 2.80%; loans grew $286.6M to $14.0B.
Declared $0.10 quarterly dividend payable Sept 15, 2023 to holders of record Sept 1, 2023.
Asset quality strong: NCOs 0.01% annualized; NPLs $30.6M (0.22% of loans).

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Eastern Bankshares, Inc. reported the quarter ended June 30, 2023 results: revenue $195.4 million, net income $48.7 million, EPS $0.30 per diluted share.

Period: the quarter ended June 30, 2023
Revenue: $195.4 million
Net income: $48.7 million
EPS: $0.30 per diluted share
Result: reported results

Exact text from the filing

• Total revenue of $195.4 million. Total operating revenue* of $196.3 million, an increase of $1.5 million from the prior quarter. • Net income of $48.7 million, or $0.30 per diluted share, compared to net loss of $194.1 million, or $1.20 per diluted share, for the prior quarter.

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Source: SEC EDGAR

accession 0001628280-23-025946

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