secwatch.observer — SEC 8-K summary
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Issuer:     Eastern Bankshares, Inc. (EBC)
CIK:        0001810546
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0001628280-24-002241
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eastern Bankshares Q4 net income $318.5M from $515M insurance sale; operating EPS $0.10
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- Net income $318.5M ($1.95 diluted) includes $294.5M after-tax gain from sale of Eastern Insurance for $515M.
- Operating net income $16.9M ($0.10) includes $10.8M FDIC special assessment; NIM 2.69% down 8bps.
- Core deposits up $516.2M (3.0%) to $17.6B; borrowings & brokered deposits reduced to <1% of assets.
- Declares $0.11 quarterly dividend payable March 15, 2024; no share repurchases in Q4.
- Pending merger with Cambridge Bancorp expected early Q2 2024; annualized NCOs 0.32% on office CRE.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810546/000162828024002241/0001628280-24-002241-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810546/000162828024002241/ebc-20240125.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-002241

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