secwatch.observer — SEC 8-K summary
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Issuer:     Eastern Bankshares, Inc. (EBC)
CIK:        0001810546
Form:       8-K
Filed at:   2024-10-24T23:59:59+00:00
Accession:  0001628280-24-043627
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eastern Bankshares reports Q3 net loss of $6.2M on merger costs; raises dividend 9% to $0.12
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- Operating net income of $49.7M ($0.25 diluted EPS); net loss of $6.2M reflects $40.9M initial loan provision and $30.5M merger charges.
- Net interest margin (FTE) rose 33 bps to 2.97%, including 18 bps from Cambridge merger discount accretion.
- Cambridge merger added $3.7B loans, $3.9B deposits; trust and investment fees surged 122% to $14.9M.
- Board declared $0.12 quarterly dividend (payable Dec 16, record Dec 3), a 9% increase from prior quarter.
- Non-performing loans jumped to $124.5M (0.70% of total loans) from $39.8M, driven by acquired PCD loans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810546/000162828024043627/0001628280-24-043627-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810546/000162828024043627/ebc-20241024.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-043627

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