Eastern Bankshares Q3 net income $59.1M, EPS $0.36; raises dividend 10% to $0.11

Eastern Bankshares, Inc.

2023-Q3 EPS reported -$0.53 revenue$57,047,000

Q3 net income $59.1M ($0.36 diluted) vs $48.7M ($0.30) prior quarter; operating income $52.1M ($0.32).
Dividend increased 10% to $0.11/share, payable Dec 15 to shareholders of record Dec 1.
Net interest margin 2.77%; loans $13.9B (-0.3%); deposits $17.4B (-4%); borrowings up $364M.
Provision for loan losses $7.3M on three office CRE loans; NPLs rose to $47.5M from $30.6M.
Pending Cambridge merger expected >20% EPS accretion; insurance sale on track for next week.

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 0.95

Eastern Bankshares, Inc. reported the quarter ended September 30, 2023 results: net income $59.1 million, EPS $0.36 per diluted share.

Period: the quarter ended September 30, 2023
Net income: $59.1 million
EPS: $0.36 per diluted share
Result: reported results

Exact text from the filing

Net income of $59.1 million, or $0.36 per diluted share, compared to net income of $48.7 million, or $0.30 per diluted share, for the prior quarter.

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Source: SEC EDGAR

accession 0001628280-23-035309

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