---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-018187"
form_type: "8-K"
ticker: "EBC"
cik: "0001810546"
company_name: "Eastern Bankshares, Inc."
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T08:11:14.217587+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Eastern Bankshares Q1 net income $38.6M; CFO to retire; Cambridge merger on track

## Summary
- Q1 net income $38.6M ($0.24 diluted); operating net income $38.1M ($0.23 diluted).
- Net interest margin stable at 2.68%; noninterest expense down $19.8M sequentially.
- CFO James Fitzgerald to retire after successor appointed; Korn Ferry retained for search.
- All-stock merger with Cambridge Bancorp approved by shareholders Feb 28, expected close early Q3 2024 pending regulatory approvals.
- Board declared $0.11/share quarterly dividend payable June 14, record June 3.

## SEC filing metadata
- accession: 0001628280-24-018187
- form_type: 8-K
- ticker: EBC
- cik: 0001810546
- company_name: Eastern Bankshares, Inc.
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1810546/000162828024018187/0001628280-24-018187-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1810546/000162828024018187/ebc-20240424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-018187
- JSON: https://secwatch.observer/filing/0001628280-24-018187.json
- Plain text: https://secwatch.observer/filing/0001628280-24-018187.txt

## Key facts
- Earnings Releases
  Eastern Bankshares, Inc. reported first quarter of 2024 results: net income $38.6 million, EPS $0.24 per diluted share.
  - Period: first quarter of 2024
  - Net income: $38.6 million
  - EPS: $0.24 per diluted share
  - Result: reported results
  source text: Net income of $38.6 million, or $0.24 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810546/000162828024018187/0001628280-24-018187-index.htm
- Executive change
  James B. Fitzgerald departed as Chief Financial Officer, Chief Administrative Officer, Treasurer at Eastern Bankshares, Inc..
  - Action: retiring
  - Role: Chief Financial Officer, Chief Administrative Officer, Treasurer
  source text: James B. Fitzgerald, the Company’s principal financial officer, notified the Company’s Chief Executive Officer and the Audit Committee of its Board of Directors on April 24, 2024 that he would be retiring from his roles as Chief Financial Officer, Chief Administrative Officer and Treasurer of the Company and as Chief Financial Officer, Chief Administrative Officer and Vice Chair of Eastern Bank once his successor is identified and appointed Chief Financial Officer and begins employment with Eastern.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810546/000162828024018187/0001628280-24-018187-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.