other material
confidence high
sentiment neutral
materiality 0.20
Eastern Bankshares recasts 2022 Form 10-K to reflect sold insurance unit as discontinued
Eastern Bankshares, Inc.
- Sale of Eastern Insurance Group to Arthur J. Gallagher completed on Oct 31, 2023, as previously disclosed.
- Recast financials present EIG operations as discontinued for all periods in the 2022 Form 10-K.
- Filed recast sections: Business, Risk Factors, Properties, MD&A, Financial Statements and Supplementary Data.
- No updates to 2022 Form 10-K disclosures beyond the recast; subsequent events noted in Note 27.
- Consent of independent auditor Ernst & Young included for the recast financial statements.