secwatch.observer — SEC 8-K summary
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Issuer:     Eastern Bankshares, Inc. (EBC)
CIK:        0001810546
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0001628280-23-035309
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810546/000162828023035309/0001628280-23-035309-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810546/000162828023035309/ebc-20231026.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-035309

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