secwatch.observer — SEC 8-K summary
======================================

Issuer:     Eastern Bankshares, Inc. (EBC)
CIK:        0001810546
Form:       8-K
Filed at:   2024-11-12T23:59:59+00:00
Accession:  0001628280-24-047162
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eastern Bankshares reports Q3 net loss $6.2M, operating net income $49.7M, dividend raised 9%
--------------------------------------------------------------------------------

- Net loss of $6.2M ($0.03 diluted EPS); operating net income $49.7M ($0.25 op EPS).
- Net interest margin (FTE) expanded 33bps to 2.97%; NII up $41.2M QoQ to $169.9M.
- Provision for loan losses $47M including $40.9M initial provision on non-PCD Cambridge loans.
- Dividend raised 9% to $0.12/shr; repurchased 836k shares at $15.08 for $12.6M.
- Cambridge merger: annual cost saves ~$40M; TBVPS $12.17; CET1 ratio 15.5%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810546/000162828024047162/0001628280-24-047162-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810546/000162828024047162/ebc-20241112.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-047162

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